- Solana overtook Polygon by market cap for some time.
- Crypto market capitalization hits $1 trillion.
- SOL is currently trading at $23, a major rise from $8 at the end of 2022.
According to data from CoinMarketCap, Solana (SOL) took over Polygon (MATIC) for a brief time with a total market cap worth $8,646,177,569. However, Polygon soon reclaimed its place with a market capitalization of $8,669,549,784. At the time of writing, SOL’s market cap stands at $8,636,881,477.
Moreover, the crypto rally over the last two weeks has pushed the industry’s total market capitalization to $1 trillion, for the first time since crypto exchange FTX’s downfall. Additionally, Bitcoin’s value increased by 27%, going from $16,500 to $21,000 in just two weeks. BTC’s market cap hit $400 billion with its dominance going back up to 41%.
However, Bitcoin is not the only digital asset on the rise. The majority of altcoins including Solana, Polkadot, Polygon, Avalanche, and more are experiencing a heavy rise in their prices.
While Solana was impacted the most in Sam Bankman-Fried’s crypto shakeout, SOL has almost tripled in value surging to $23 after a debating $8 at the end of 2022.
On the other hand, $SHIB’s new meme coin BONK is suffering a downtrend after being on the rise by 787% since its launch. Currently, it is down by 56% from a seven-day high of $0.000002 last Sunday to a low of $0.00000088 on Friday.
Meanwhile, Shiba Inu has also spiked in the last few days, nevertheless down by 88% from its all-time high of $0.000086. Simultaneously, its competitor DOGE marked more than 16% gains from a seven-day low of $0.077 on Tuesday to a high of $0.092 on Monday.
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Source: https://coinedition.com/sol-overtakes-matic-by-market-cap-whats-next-for-doge/