Bitcoin News and Finance Solana Moves Into 6th Largest Crypto Market Cap Position — SOL Valuation Targets Cardano’s Rank Skip to main content

Solana Moves Into 6th Largest Crypto Market Cap Position — SOL Valuation Targets Cardano’s Rank

Solana Moves Into 6th Largest Crypto Market Cap Position — SOL Valuation Targets Cardano's Rank

The crypto asset solana has managed to capture more than 12% in gains during the last 24 hours and has recently positioned itself as the sixth-largest cryptocurrency market capitalization. The crypto asset’s overall market cap is around $62.2 billion, only 11% away from surpassing cardano’s market valuation at $69 million.

Solana Takes the 6th Spot, Market Valuation Nears Cardano’s Market Cap

On Friday, the crypto asset solana (SOL) has managed to take the sixth position in terms of the world’s largest crypto market valuations. At the time of writing SOL is swapping for over $203 per unit and is up 12.4% over the last day. Seven-day statistics indicate that solana has gained 37.5% this past week and during the last 30 days, SOL is up 68.2%. After the digital currency captured the sixth largest crypto position, a great number of people discussed the crypto asset on social media.

At 1:30 p.m. (EDT), the hashtag #solana had around 97,900 tweets with the hashtag present in the tweet. The fifth-largest market cap holder, cardano (ADA) has lost 1.0% during the last seven days and if SOL keeps up the pace, ADA could lose its position. ADA already dropped a few notches to the fifth position after it held the third-largest crypto market cap for months. Each ADA is exchanging hands for $2.14 and the crypto asset has a market valuation of around $69 million which is less than 11% higher than solana’s.

While Cardano Holders Saw 1,936% Gains in a Year, Solana’s Year-to-Date Price Increase Jumped 10,868%

Now, year-to-date, ADA has seen massive gains collecting more than 1,936% in value. However, solana’s year-to-date gains have been considerably larger as SOL investors made 10,868% in gains. While the crypto asset solana is doing better than cardano price-wise, SOL also has $6.57 billion in 24-hour global trade volume, while ADA has $2.1 billion today. The top five pairs swapping with SOL today include USDT, USD, BTC, BUSD, and EUR with USDT commanding 42.71% of all SOL trades.

ADA’s top trading pair is also tether (USDT) as the stablecoin captures 60.6% of all ADA swaps. The USDT/ADA pair is followed by BTC, USD, BUSD, KRW, EUR, and ETH in terms of cardano’s top seven trading pairs. Coingecko statistics show the most active cryptocurrency exchange swapping solana (SOL) on Friday is Binance. Market data on October 22, indicates that the most active exchange trading ADA is Binance as well.

What do you think about solana skyrocketing in value and capturing the sixth largest crypto market cap? Let us know what you think about this subject in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory