Solana’s momentum seems limitless, with the SOL token continually rising to previously unseen heights. Over the last few weeks. Over the last few weeks, Solana climbed above a lot of its competitors and entered the market’s top 10. SOL’s price has risen dramatically after the switch.
Solana’s SOL token has surpassed XRP to become the sixth-largest cryptocurrency by market value. Solana’s market cap is now $59,164,244,981 against XRP’s $51,796,731,234 as per CoinMarketCap.
Just a week ago, Solana surpassed Dogecoin to claim sixth place. Since September 8, XRP’s market valuation has ranged between $50-53 billion. Still reeling from Tuesday’s debacle, Solana began September 8 at almost $50 billion. Solana crossed the $52 billion market cap barrier, surpassing XRP to Rank #6 on CoinMarketCap, and seems unstoppable.
SOL’s price rose 81.14 percent in the last week. SOL is now $201.07. Aside from USDC, it is the only currency in the top 10 to increase the price since last week. Tether has a market value of $68,584,501,423 ranking fifth.
Anticipation of a Major Shift
The Degenerate Ape Academy NFTs released in mid-August boosted its NFT system. The network got praised for its cheap transaction costs and lack of congestion.
XRP has found a place in the global payment ecosystem. However, regulatory ambiguity has slowed its adoption rate. However, Solana’s adoption has recently been remarkable. Institutional investors have shown significant interest in SOL. Considering XRP’s on-chain stats, it’s safe to say SOL may hold the sixth spot for a little longer. So anticipate another major shift in the coming days.