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Solana has recently overtaken Binance Coin (BNB) in market capitalization, securing the fourth spot.

According to CoinMarketCap, Solana (SOL) is priced at 186 USDT, reflecting a 3.79% increase in the past 24 hours.

This price surge resulted in over $4 million in liquidations of short positions as SOL reached $187. The largest single short liquidation was $560,000 at the $186 mark, highlighting the bullish momentum driving Solanas recent performance.

Solanas technical metrics are also noteworthy. The networks true transactions per second (TPS) have exceeded 1100, demonstrating its scalability and efficiency.

Additionally, the total value locked (TVL) in Solanas perpetual contracts has increased by 447% year-to-date, with platforms such as Jupiter Exchange and Drift Protocol leading this growth.

Despite these impressive achievements, a recent survey by CoinGecko reveals that only 10.6% of crypto investors believe Solana will surpass $1,000. This indicates a mix of optimism and caution among investors regarding Solanas long-term price potential.

Solanas rapid ascent in market capitalization and robust technical performance underscore its growing influence in the cryptocurrency sector. As it continues to attract more users and developers, Solana is positioning itself as a formidable competitor to other major cryptocurrencies. The market will be closely monitoring Solanas trajectory to see if it can sustain its growth and possibly achieve the ambitious price targets that some investors are skeptical about.

Overall, Solanas recent market performance and technical advancements signal a promising future for the blockchain platform, making it a significant player to watch in the evolving crypto landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.

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Solana Overtakes BNB In Market Cap, Now Ranked 4th - NullTX