Solana Price Soars Over 30% And Flips BNB! Can SOL Price Hold Its Gains?

The Solana token continues to display significant price movements as it has successfully overtaken Binance coin and claimed the fourth spot in the top 100 cryptocurrencies by market cap. Further, the SOL price continues its struggle to break out of its key resistance level at $100, indicating a strong liquidation point at that level.

Timeline of Bnb, Solana

Solana Price Prediction: The competitive smart contracts token Solana (SOL), is making significant strides in the market, outshining its competitors with an impressive rally. Currently boasting a market capitalization of $40.2 billion, Solana has recently surpassed XRP to claim the fifth position in the market ranking and is now on the verge of overtaking BNB.

Over the past 24 hours, Solana (CRYPTO: SOL) has rallied by a staggering 17%. This dramatic rise appears fueled by ongoing optimism surrounding the blockchain, although concerns persist about potential sell-offs from FTX (CRYPTO: FTT) and Alameda Research.

In 2022, the cryptocurrency realm encountered a major hurdle with the collapse of FTX, triggering industry-wide repercussions. This adversity posed challenges for Solana, one of its standout blockchains, disrupting its course.

Solana achieved the highest milestone for the year at $98 after maintaining a bullish trend for a couple of days. The token is poised to reach the milestone of $100 after registering itself as the best performer of 2023 within the top 10.

Solana has made a spectacular entrance into the 2023 bull market, exhibiting performance similar to its stellar rise back in 2021. In just the past two days, the SOL/USDT price chart has surged impressively, growth that has not only caught our attention but has also shown dominance over other major assets in the crypto space.

Since Monday, Solana (SOL) has rallied by over 45%, approaching the much-awaited $100 mark. It has flipped Binance's BNB to become the cryptocurrency with 4th largest market capitalization.

Bitcoin (BTC) squeaked a few percentage points higher on Monday to close the session at $37,450 before dipping back to $37,300 this morning. On the payment layer, bitcoin transaction fees have flared up again, having hit a six-month high in the past few days.

The Solana (SOL) price rally continues to be unstoppable with another 17% rally and moving extremely close to $100. As of press time, the SOL price is trading 17.15% up at $97.76 with a market cap of $41.7 billion.

Solana prices have shown some serious strength lately, rallying to their highest level since April 2022 as the network benefits from substantial activity and strong interest in memecoins.

Solana (SOL) is flying high at the moment, and from all indications, the crypto token has no intention of slowing down anytime soon as it eyes $100. This is no doubt feasible, considering the several bullish narratives that continue to build up in the Solana ecosystem.