See Solana Bitcoin and Ethereum price drop

Solana, which was up over $100 over the weekend, has cooled slightly. At the time of writing, SOL is trading at $109.20—down 11% on the previous day.

But notably, SOL remained above $100 after passing that milestone on Saturday. This increase is part of a broader positive trend in the crypto market, making Solana the fourth largest crypto asset by market capitalization. That spurred a lot of business. Last day, the amount reached 5.6 billion dollars, CoinGecko.

In fact, SOL made the highest 1-day volume of the year—$6.2 billion—and could be on track to beat that again today. Binance's BNB token is now doing more than double the volume it saw the previous day. BNB is a utility token for the Binance crypto exchange, which is used for trading and payments. Solana recently overtook BNB and took its place as the fourth largest asset by market capitalization on CoinGecko.

Meanwhile, the two largest crypto assets by market capitalization, Bitcoin and Ethereum, each took a hair of 4%. At the time of writing, Bitcoin is trading at $41,861.48 and Ethereum at $2,197.27.

Both BTC and ETH are pooled, pending ETF approvals as much as possible. A few Ethereum ETF applications have recently been filed with the Securities and Exchange Commission, but analysts expect the SEC to rule on several Bitcoin ETF applications in the next two weeks.

Solana's recent performance is particularly noteworthy considering his ties to the fallen crypto empire FTX and disgraced crypto mogul Sam Bankman-Fried. In the year Despite the turmoil surrounding the FTX loss in November 2022, Solana has staged an impressive recovery, up 880% year-to-date. This recovery is further highlighted by a significant increase in network activity and the addition of new addresses to the Solana network.

Its institutional interest has been accompanied by much of the meme coin movement. Solana's meme coin, BONK, holds its place in the top 100 assets, although it has fallen slightly since peaking at 69. BONK has reached its highest level since trading on Coinbase. Despite its rapid growth, it is still an incredibly volatile meme coin. Currently being traded. $0.00001615, down 15% since yesterday.

There's also an even newer dog-themed meme coin: Dogwifehat. It rose as high as $0.33 on Friday – an all-time high for the coin, which only started trading on December 13. However, it has lost some momentum since then and is currently trading at $0.15, down 30% in the last 24 hours. hours.

Editor's Note: This article was written with the help of AI. Edited and fact-checked by Stacy Elliott.