Solana fights Binance’s BNB as it approaches the 100 milestone.

Since Monday, Solana (SOL) has rallied more than 45%, approaching the expected $100 mark. It has overtaken Binance's BNB to become the 4th largest cryptocurrency by market capitalization.

The failure of FTX negatively impacted Solana's ecosystem value and Total Value Locked (TVL). It reached a long-term low of $8 in December last year. However, in 2023, Solana staged a strong recovery, approaching the $100 milestone.

At $100, Solana copied BBNB.

Solana and Binance's BNB are in a close race for 4th place among cryptocurrencies with the highest market capitalization. Earlier today, Solana briefly outperformed BNB but failed to hold the position.

Also, Solana's price on Binance reached $99.50, down just $0.5 from $100 stakes. If the price of Solana stays above $100, it can firmly maintain the 4th place.

As of writing, the screenshot below shows that BNB's market capitalization is $41.75 billion, while Solana's market capitalization is $41.44 billion.

Read more: How to buy Solana (SOL) and everything you need to know

The biggest BNB Flip

Solana has never been able to change the market capitalization of Binance's BNB. A historical snapshot from CoinMarketCap shows that when Solana was at its all-time high in November 2021, it was the fourth largest based on market capitalization. However, BNB's market capitalization remains higher than Solana's.

In the year On November 6, 2021, SOL's market capitalization was about to reach $78 billion. Meanwhile, BNB's market capitalization was $106 billion, more than 25% higher than SOL's.

Read More: What is Market Capitalization? Why is it important in Crypto?

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