At the beginning of Wednesday morning, Solana had surpassed XRP to be the fifth-largest cryptocurrency in the world by market value.
It has been reported that SOL has recently been the subject of a lot of attention. The SOL ecosystem has created substantial excitement and activity from market players due to the launch of new projects and airdrops.
The SOL price jumped to more than five per cent in the day, but the price was at or above $76.
Solana has seen a rise between the 30th of October to the 19th day of December. People have been drawn to the SOL community to receive airdrops from projects built upon Solana. In addition, the fact that Solana’s social power is close to achieving its 6-month peak in line with On-Chain statistics is another sign that the project is popular among traders.
As per the figures offered by CoinGecko, the cryptocurrency predicted to decimate Ethereum briefly took the spot in the ranks of XRP as the 5th largest cryptocurrency in market capitalization. SOL’s price SOL will likely see an additional surge in this period, according to experts on cryptocurrency.
Regarding market capitalization, Solana has taken over XRP and is listed as the 5th biggest asset.
After Judge Torres’ judgment was handed down on the 13th of July in the matter initiated by SEC against Ripple, the market capitalization of XRP has seen a rebound, and cryptocurrency has regained its place as the 5th most valuable asset.
The recent developments within the SOL ecosystem have fueled the gains in alternative currencies. It has also helped Solana in its quest to take on XRP.
The growth of SOL is driven by triggers, such as airdrops on projects based in Solana and the Solana Saga phone. However, the benefits of XRP can be influenced by the optimistic statements by Ripple and positive reports related to the saga between Ripple and the SEC as well as Ripple.
Recent increases in the assets and increasing market cap are supported by metrics on the Solana chain, like SOL quantity and social dominance.
The value for SOL on Binance was $77.80 at the time of writing. The holders of this asset saw increases of 13% every week and 6% daily while the asset moved up.
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