Solana prefers BNB, which has risen to become the 4th-largest Crypto Asset by market cap.

Solana (SOL) has surpassed Binance Coin (BNB) to become the fourth largest cryptocurrency by market cap.

The success comes amid a surge in the market as several major altcoins explode, with major cryptocurrency Bitcoin (BTC), hitting a new all-time high (ATH) of over $75,000.

Solana's weekly performance is off-market.

Solana's jump was reinforced by a strong 15.4% pump in the last 24 hours, which pushed the token's price to $185.30, bringing its market cap to $87.3 billion.

This latest move is on top of SOL's impressive month, which has seen prices rise 24 percent over the past 30 days. The asset continued its weekly gains, adding 2.2% to outperform the global crypto market's 1.2% gain. At the same time, it has outperformed other Layer-1 cryptocurrencies, which have grown by a total of 1.4% over the same period.

Meanwhile, BNB posted a more modest growth of 3.9%, trailing SOL's by $2.5 billion at $84.8 billion in market value. Unlike Solana, BNB underperformed the broader crypto market, losing 3.6% in seven days. However, over the past two weeks, the losses have been minimal, at around 0.9%, according to data from CoinGecko.

Bitcoin Rise Sets Profits for Altcoins.

Solana's rise is part of a larger altcoin boom, which has seen the total market cap of crypto reach $2.6 trillion, with Bitcoin accounting for 60% of that amount. The number one cryptocurrency reached above $75,000, hitting a new ATH and helping to boost sentiment in the rest of the market.

In addition to SOL, standout performers over the past 24 hours include Dogecoin (DOGE), which surged 30% to $0.21, overtaking 7th-placed XRP with a value of $30.79 billion.

Several other altcoins also benefited from double-digit gains, including Uniswap (UNI), Bittensor (TAO), Lido DAO (LDO), Injective (INJ), Sui (SUI), and Protocol Near Protocol (NEAR).

The controversy comes against the backdrop of a high-profile presidential race in the United States, where crypto is at the forefront of the election.

However, there were a few laggards, one of which was Tron (TRX), which has neither moved up nor down in the last 24 hours as of this writing. However, the network recently posted its eighth consecutive month of sales growth.

Monero (XMR) was one of the few negative performers, with the $159 price tag showing a slight 0.8% drop from the previous day.