Solana, BNB vie for top spot: What SOL’s lead will mean for the market

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Solana, BNB are neck-and-neck in their race for the fourth spot. Amid market volatility, it will be fascinating to see who comes out on top.

SOL and BNB are battling for rank #4. While SOL currently holds the edge, a new ATH above $260 could cement its lead.With SOL breaking out above $180, analysts are eyeing a potential run towards $250. Having posted a 30.5% monthly tear, is it the one to keep an eye on?Interestingly, SOL has not only dethroned BNB but has also emerged as the top performer among the top 5 altcoins, capturing significant liquidity from Bitcoin.

Additionally, SOL posted a daily gain of over 11%, slightly outperforming BTC on the day of the election results, while Ethereum posted a 4% surge. In the last 24 hours, SOL’s daily trading activity has surged by 210%, reaching $10.7 billion. Additionally, its market cap has risen by 14.66%, reaching $88.1 billion.

With a bullish MACD crossover on the daily chart, the odds of SOL testing above its yearly high are strong.A reclaim of the $200 mark, which hasn’t been seen since March, could propel SOL beyond its previous ATH of $260 in the coming weeks.

 

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