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    Solana dethrones BNB, ranks fourth largest cryptocurrency with 100% monthly gains for SOL holders

    Source Fxstreet
    December 24, 2023 11:37
    • Solana price rallied nearly 50% in the past week, replacing BNB as the fourth largest asset by market capitalization. 
    • SOL outperformed BTC and ETH in trade volume on one of the largest crypto exchanges, Coinbase. 
    • SOL price crossed $100 on December 23, hitting the $109.28 level on Sunday. 

    Solana sustained its recent gains over the weekend, crossing the psychological barrier of $100. SOL outperformed the largest cryptocurrencies by market capitalization and ranked fourth, as seen in CoinGecko data. 

    Also read: Optimism price could suffer a correction as on-chain metrics turn bearish

    Solana ranks fourth in market capitalization

    Solana, Ethereum alternative and the fourth largest asset by market capitalization rallied past BNB and XRP, with its increasing price. SOL price climbed 50% in the past week and 100% in the last month, the asset’s market capitalization hit $47 billion. 

    SOL price hit a new local peak of $118 on December 24. The Ethereum killer asset now rivals or surpasses Ethereum across decentralized exchange volumes, NFT volumes, active addresses, transaction count, stablecoin transfers. However, Ethereum supporters argue that Solana is not decentralized.

    Ryan Watkins, co-founder of Syncracy Capital argues that Solana has nearly 40% the amount of nodes as Ethereum, they’re only five times more expensive to run. Watkins believes Solana’s transaction cost and throughput is likely worth the trade off.

    Watkins argues that Solana needs to continue decentralizing its developer ecosystem, while the asset develops other aspects of its chain.

    SOL price is $110.24 at the time of writing on Binance.

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
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    Chainlink’s large wallet holders pull $216 million worth of LINK out of exchanges, fuel gainsChainlink has noted accumulation by entities and holders in the past two weeks.
    Source  Fxstreet
    Chainlink has noted accumulation by entities and holders in the past two weeks.
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    Bitcoin price leaves $50,000 milestone in rearview mirror despite SEC chair’s negative assertions about BTCBitcoin (BTC) price remains steadfast after a bold foray past the $50,000 milestone.
    Source  Fxstreet
    Bitcoin (BTC) price remains steadfast after a bold foray past the $50,000 milestone.
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    Manta Network Price Prediction: MANTA could fall 10%Manta Network (MANTA) price has recorded significant volatility over the past few days as investor attention shifted to low market capitalization tokens as they awaited Bitcoin (BTC) price to break consolidation.
    Source  Fxstreet
    Manta Network (MANTA) price has recorded significant volatility over the past few days as investor attention shifted to low market capitalization tokens as they awaited Bitcoin (BTC) price to break consolidation.
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