Solana Overtakes XRP to Become the Sixth-Largest Cryptocurrency

According to data from CoinMarketCap, Solana has recorded a price surge of over 80% in the past seven days.

During this period, its price has risen from $128 to an all-time high of $214.

This is remarkable considering that just three months ago, the price of Solana was lingering around $24 per token.

This means that anyone that bought Solana for that price will have made an ROI of 890% on his initial capital.

The rise of Solana is not a surprise, given how highly rated its blockchain is within the crypto industry.

Solana provides a fast and highly scalable blockchain network capable of handling millions of transactions without losing efficiency.

It also introduces a new concept called proof-of-history (PoH) consensus, allowing quicker validation time for transactions.

This attributes have attracted developers and projects that seek an alternative to the popular smart contract platform Ethereum.

Solana is among the blockchain protocols, including Binance Smart Chain, Polygon, and Polkadot, considered third-generation smart contract platforms.

The current market indicators show that Solana has a strong momentum to keep its position above XRP.

It is currently gaining popularity in the NFT and DeFi sector which has contributed heavily to the rise of its native toke SOL.

At the time of publication, more than $7 billion has been locked in various Solana-based DeFi protocols.

It will be interesting to see if the coin will flip Binance Coin, which is currently fifth on the coin rankings.

Do you think Solana can flip Binance Coins in the future?