Solana Flips BNB, Now Fourth-Largest Crypto with 8% 24h-Surge

Key Points:

• Solana is now the fourth-largest cryptocurrency.
• ETF discussions and filings boost Solana’s growth.
• Analysts predict Solana could hit $1,000.

Solana flips BNB to become the fourth-largest crypto by market cap, driven by a potential Solana-based ETF in 2025. Analysts see it possibly hitting $1,000.

According to Watcher.Guru, Solana has now taken over from Binance Coin and become the fourth-largest cryptocurrency in market capitalization.

Solana Flips BNB to Become Fourth-Largest Cryptocurrency

According to CoinMarketCap, this was fully confirmed on Friday as SOL notched an 8% increase within the last 24 hours. Over the past month, Solana increased by more than 30% to break above the $181 level.

The upward trend for Solana is linked to ongoing discussions about the possibility of a Solana-based ETF launching in 2025. The cryptocurrency market will be a significant focus in 2024, with Bitcoin and Ethereum breaking new ground by hitting the first crypto-based ETFs in the United States.

Solana’s surge to become the fourth-largest crypto by market capitalization places it as the third-biggest non-stablecoin, behind Bitcoin, Ethereum, and USDT.

Read more: Nomura Ether ETF Launches with Unique Staking Benefits

Solana’s Market Position and Future Predictions

Crypto analyst Ali Martinez has been touting Solana’s potential by comparing its trajectory to 2021. Martinez said that SOL could even reach the $1,000 level shortly.

Confidence in Solana’s growth is further energized by the recent ETF filings from VanEck and 21Shares, which are purposed to boost its market position.

Should Ethereum’s ETF do well, it could be the trigger that sends Solana drastically higher. It has undoubtedly positioned itself alongside Bitcoin and Ethereum to form an illustrious threesome, and market observers are now keenly watching what happens next.