The solana crypto asset has managed to capture over 12% gains in the past 24 hours and has recently positioned itself as the sixth largest cryptocurrency market cap. 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 6th place, market valuation approaches Cardano’s market capitalization
On Friday, the solana crypto asset (SOL) 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 show that solana gained 37.5% last week and in the last 30 days SOL has increased by 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), hashtag #solana had around 97,900 tweets with the hashtag present in the tweet. The fifth market cap holder, cardano (ADA) has lost 1.0% in the past seven days and if SOL keeps 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 trades hands for $ 2.14 and the crypto asset has a market valuation of around $ 69 million, 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 cumulative gains since the start of the year have been considerably larger, with SOL investors making 10,868% 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 traded with SOL today include USDT, USD, BTC, BUSD and EUR, with USDT accounting for 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.
