It’s no news that Solana is currently the coin with the most surge over the last two months. These tremendous price hikes have resulted in an increase in both prices and the status of the coin with regards to the market cap ranking. The now sixth largest coin by market cap flipped Ripple to claim the spot over the last 48 hours.
The first time SOL crossed into the top 10 was after it started its record-breaking act. The then eleventh coin by market cap saw its market cap increased by 37%, ensuring it moved up one spot on the market cap ranking: flipping Bitcoin cash. The coin continued on its spell as it recorded a high of around $83 which pit it in a struggle with Polkadot for the ninth spot on the market cap ranking. The price of SOL as of the time increases its market cap by almost 3%. Its total market capitalisation is estimated at $24.9 billion at the time.
Now the coin has a market capitalisation of around $53.4 billion following as the SOL/USD pair is trading at $181. The struggle with XRP over the sixth spot was a short but fierce one as a market shaking event took place that left ripple struggling and Solana, with quick recovery surged and achieved the milestone.
Who is Next?
The now sixth coin by market cap aims to get into the top five. The only coin standing in the way of SOL is Tether. There is a margin of more than $10 billion, the flipping may not be as quick as the rest but Solana still have the potential to move up the market ranking as it is may have enough fuel to continue its uptrend.
SOL will have to surge as high as $250 to achieve a total value of $74 billion; thereby guaranteeing that the now sixth coin by market cap could roll with the big boys in the top five.
