Solana left BNB Behind in Marketcap- Big news in market today

Hello and Everyone

Bitcoin is the top currency in the market and after that, Ethereum is the next coin. Ethereum is popular because it is a great blockchain network having thousands of projects built on this network and they are running successfully. Many other projects after Ethereum are also doing pretty well in the market and Binance smart chain is the next name in the list. BNB is the coin for the Binance smart chain and after Ethereum, this is the coin that is on the list.

Now things have changed because Solana has taken over the slot and it has flipped the BNB coin. The price for Solana coin is $200 at the moment and if we look at the market cap it is higher than BNB coin. I have not invested in Solana but surely the people who invested in this coin must be very happy. The coin has been doing pretty well for the last few weeks and last I remember it was around $75 but thereafter I did not pay much attention to its price. Now because this coin is in the news and all this is happening due to its fantastic price rise.

Can you imagine a coin that was worth $75 a month before and now it is at $200? It's fantastic and it's like three times of growth almost on the investment and people who invested when the value was just 10 or $20 then just imagine the profit. There have been issues on the Solana blockchain network but is still the coin did pretty well in the market. Some people say that it is happening because there are many meme coins launched on the Solana Blockchain Network and because of that the transaction count has gone up which is resulting in the increased demand for Solana coins. This is the same fundamental that also applies in the case of Ethereum so it is understood.

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Total fees on Solana are also at new all-time highs. According to The Block's data, the total transaction fees paid on Solana yesterday amounted to $3.83 million, or 20,350 SOL — the vast majority of which was non-vote priority fees.

I think now is not the right time to enter this coin but this is not any type of financial advice. I don't know how this coin will perform from here but I'm not going to invest at this price because I feel the price is already on the higher side. It is crypto and sometimes what we think does not happen so there is always a possibility that Solana coin price can go up even with a nice value from the current price. The other side possibility is also that its value can go down South if you are investing or planning to do so make sure to do your research and consider the risk and profit opportunities with this project. It can do even better but we must go through the risk aspect of this coin.

This time Solana is the hot topic in the crypto market and most news platforms are covering this because the coin has achieved a good value which is $200 in the market. Because it has surpassed the market cap for another leading coin in the market which is also a big achievement for this project. Many people have invested in Solana and maybe it can be a good option for the investment in the long term but I think post a correction this can be a better deal however it's not financial advice.

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Thank you so much
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Posted Using InLeo Alpha

Posted Using InLeo Alpha