Cardano and Ripple are under danger as Solana tries to reclaim its market cap leadership with a 30% weekly growth rate.
Solana (SOL) has gained up to 30% in a seven-day period as of Thursday, June 21. Its market value increased by $3 billion as a result of this performance. However, Solana (SOL) is currently ranked ninth in CoinMarketCap’s overall market cap, trailing Cardano, Ripple, BNB Chain, Ethereum, and, of course, Bitcoin. And stablecoins aren’t included in those figures.
Solana will be in seventh place if and when it is able to add another $10 to its price per token, trailing both Cardano and Ripple. Is it conceivable for Solana (SOL) to increase its gain by another 35%? It may be worth wagering based on the rate at which SOL is rising and the performance of its nearest competitors in the market cap top.
Do not be deceived by the fact that CoinMarketCap attributes Solana’s (SOL) strong rise to its seven-day performance. The truth is that the climb did not begin until Sunday, June 18th, when the tokens were $27.20 each.
After failing to break through the crucial price level of $35.75 on that day, Solana was re-energized with investor funds and went on to storm the key price level with adequate corrections. On Monday, June 20, after a series of false breaks, the coin finally broke over the $35.75 resistance level, taking it out with a large green candlestick. SOL is presently trading at $37.7, up 5% from its previous low.
SOL has a possibility to continue increasing if it closes above that level, but it’s unclear whether this will result in a stronger place in the market cap top. Solana is now winning little battles, but no one knows who will win the war.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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