Binance Coin (BNB) has overtaken Solana (SOL) in market capitalization, solidifying its position as the fifth-largest cryptocurrency in the market.
BNB's market cap stood at $102.9 billion, about $8.5 billion higher than SOL's valuation. BNB surged 11.8% in the last 24 hours, reaching a high of $720 before settling around $705.
In the past week, BNB surged 22%, outperforming the broader crypto market. Meanwhile, Solana declined 4.1% in the last week and 19.2% in the past two weeks.
BNB's rise coincides with Binance Chain's announcement of a major upgrade for 2025, while Solana has seen success in the retail DEX sector.