“Ethereum killer” Solana is on monitor to hitch the celebrated “$100 billion membership,” in accordance with Bitwise CEO Hunter Horsley.
The market capitalization of the fourth-largest cryptocurrency at present stands at $96.8 billion. The token is up by 1.3% over the previous 24 hours.
Earlier this 12 months, Solana discovered itself on the heart of a meme coin frenzy. In line with knowledge offered by Dune Analytics, Pump.enjoyable, a Solana-based meme coin manufacturing unit, has logged $1.9 billion in quantity over the previous two weeks. Furthermore, the favored token issuer has now surpassed 1.1 million in complete SOL charges. Greater than 3.1 million tokens have now been issued on the massively profitable platform.
Regardless of its meme cred, Solana can be gaining stronger institutional acceptance within the U.S. As reported by U.Immediately, there are additionally a number of pending proposals to launch a Solana ETF within the U.S. The very first product was proposed by New York-based funding large VanEck in late June.
The $100 billion membership
Presently, Bitcoin, Ethereum and Tether (USDT) are the one cryptocurrencies which can be valued at greater than $100 billion.
As reported by U.Immediately, Bitcoin just lately surpassed tech large Meta by market cap following its current value surge.
Solana (SOL) is now additionally prone to be a part of this membership within the close to future. BNB, the fifth-biggest cryptocurrency, managed to surpass $100 billion all the way in which again in November 2021. It’d obtain this feat as soon as once more alongside Solana if the rally continues.
XRP is one more cryptocurrency that was as soon as valued at $100 billion. It managed to achieve that milestone again in January 2018. Nonetheless, it’s at present valued at $28.9 billion, that means that it’s extremely unlikely that it is going to be in a position to rejoin the much-coveted membership anytime quickly.
