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Solana's $129B Market Cap Flips BNB: What's Fueling This Crypto Ascent? #QixNewsCrypto
Solana (SOL) has officially surpassed Binance Coin (BNB) in market capitalization, claiming its spot as the fifth-largest cryptocurrency! This significant milestone sees SOL's market cap soaring past $129 billion, outpacing BNB by $3 billion.
The impressive rally is driven by several key factors. Institutional heavyweights like Galaxy, Jump, and MultiCoin have committed $1.65 billion to establish Forward Industries, a major SOL treasury firm. Galaxy Digital alone acquired $486 million worth of SOL recently, signaling strong institutional confidence. Mike Novogratz of Galaxy Digital even declared it 'Solana season,' highlighting its robust network capabilities for financial markets.
Beyond institutional backing, Solana's ecosystem is thriving. Its Total Value Locked (TVL) has hit a record high of $12.95 billion, marking a 20% increase in just 30 days and even surpassing Ethereum's combined Layer-2 TVLs. The memecoin sector on Solana has also exploded, with its market cap jumping ne
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