The Solana (SOL) token is now worth more than BNB on the Binance exchange.
Solana's value reached $41.724 billion, while BNB's value was $41.721 billion, according to CoinMarketCap. Even though Solana's trading is three times busier than BNB in the last day, meaning more people are buying and selling it.
The price of SOL went up by 78% in the past month and 15% in the last 24 hours. On December 20, it became more valuable than Ripple's XRP and joined the top 5 ranking. This increase in Solana's value has led to more interest in its system and more activity on its blockchain.
Source: CoinMarketCap
People searching for "Solana" on Google went up by 250% from October to December.
Not only Solana's own token but also other tokens on its chain have recently become more valuable. For example, the Bonk (BONK) coin increased by more than 10,000% and is now among the most important crypto assets.
Solana is different because it uses a mix of Proof of Stake and Proof of History, making transactions faster and more efficient than Bitcoin and Ethereum. It can handle around 65,000 transactions per second and has lower fees than Ethereum and Bitcoin.
Last year, when the FTX exchange, a big investor in Solana, had problems, people thought it might be the end for Solana. But now, without that pressure, Solana seems more promising to investors.
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