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Solana (SOL) Surpasses Binance Coin (BNB) By Market Capitalization

Solana’s (SOL) market cap has reached $50 billion, overtaking Binance Coin’s (BNB) market cap.

Solana is a highly functional open-source blockchain platform developed to enhance the scalability of blockchain technology, exceeding the performance of other popular blockchains while keeping costs low. 

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According to recent data, Solana (SOL) has reached over $49 billion in market capitalization, stealing Binance Coin’s (BNB) place in the charts. This is an incredible milestone for Solana as it sits at the 4th rank in the charts, along with Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). It also gained the community’s attention, bringing up debates on the causes of such a rapid price increase and the possible consequences for the market. 

Solana’s recent network outage has indeed affected the platform, facing criticisms here and there and questioning its stability. Despite its challenges, Solana’s recent milestone only shows that the investors and developers are still confident in SOL’s long-term potential. 

SOL has been trading at $115.49, up by 1.47% in the last 24 hours, and it looks like it’s ready for a more bullish trend. BNB remains at rank #5, trading at $330.99 with a total market cap of $49.49 billion

Meanwhile, Solana just made $45 million in sales through Shopify. Its strong ecosystem and user-friendly platform have enabled smooth transactions for merchants and buyers, leading to this incredible achievement for Solana.

In addition, Solana, Shopify, and Helio’s partnership shows the transformative power of blockchain in e-commerce. With Solana’s blockchain, Shopify merchants can easily access the crypto-savvy market, boosting their revenue and audience base. Helio on Solana Pay, on the other hand, ensures fast and secure transactions, instilling trust from buyers and merchants.

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Sophia Cruz
Financial Writer - Asian & European Desks
Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.
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