Solana’s price surge propels its market cap past $100 billion, outpacing Bitcoin and Ethereum gains

Solana’s price surge propels its market cap past $100 billion, outpacing Bitcoin and Ethereum gains
фото показано с : cryptoslate.com

2024-11-11 15:03

Since Donald Trump’s reelection as US president, Bitcoin and Ethereum have drawn substantial attention with notable price increases. However, Solana has quietly outperformed these two giants in the digital asset space.

Data from CryptoSlate indicates Solana’s price has surged over 34% in the past week to as high as $215, surpassing Bitcoin’s 20% gain to a new all-time high of over $82,000 and Ethereum’s 30% increase to more than $3200.

SOL Price (Source: Tradingview)

However, despite this impressive rally, SOL still remains about 60% below its November 2021 peak of approximately $260.

Nevertheless, the price surge has propelled Solana into the exclusive group of cryptocurrencies with market caps of over $100 billion.

SOL Market Cap (Tradingview)

Over the weekend, Solana’s market capitalization crossed the $100 billion threshold, reaching $101.6 billion. This achievement makes it only the fourth digital asset to hit this milestone, joining Bitcoin, Ethereum, and the stablecoin Tether (USDT).

Moreover, this price rally has also fueled Solana’s rapid DeFi total value locked (TVL) rise. Data from DeFiLlama shows that Solana’s TVL now exceeds $7 billion, marking its highest level since December 2021.

DeFi TVL (Source: DeFillama)

Solana currently ranks second in DeFi TVL, trailing only Ethereum, which maintains a dominant position with more than $60 billion in locked assets.

The post Solana’s price surge propels its market cap past $100 billion, outpacing Bitcoin and Ethereum gains appeared first on CryptoSlate.

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ethereum solana bitcoin price increases however notable

Источник: cryptoslate.com

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