Solana followed Bitcoin’s rally on March 4, rising by 7% in 24 hours, taking over Binance’s BNB coin and earning a higher rank among the top five cryptocurrencies.
Solana (SOL) continues to rise above $140, overtaking BNB to become the fourth largest cryptocurrency in the world, as the market-wide token saw double-digit gains. SOL's rise pushed the digital asset to a two-year high, a level last seen in April 2022, three months after the peak of the 2021 bull cycle.
Solana's milestone arrives on the heels of Bitcoin (BTC)'s new all-time high (ATH), with the leading crypto token rising above $69,000, but retreating to around $65,000 at the time of writing, according to CoinGecko did.
Bitcoin’s retrace is likely due to a market decline as traders booked profits and the cryptocurrency faced a wall of technical resistance at ATH.
Solana, Bitcoin rises, but so do these coins
According to data from CoinMarketCap, the total cryptocurrency market capitalization rose nearly 3% in 24 hours due to the rise in the prices of Bitcoin and Solana. This increase pushed the cryptocurrency's market capitalization above $2.54 trillion, with two particular coins of his rising over 35%.
With a trading volume of over $1.5 billion, eCash (XEC) surged over 53% in a single day, but the cryptocurrency is still 88% off its previous ATH recorded in November 2021. Launched in July 2021, eCash is a rebranded version of Bitcoin. fork, Bitcoin Cash ABC exists solely as a digital payment method for goods and services.
Terra Classic (LUNC), the original Luna cryptocurrency, also surged 38%, with daily trading volume of $596 million. The coin's rise coincided with a victory won by Terraform Labs founder Do Kwon in Montenegro when the former crypto tycoon challenged his extradition to the United States to face criminal charges.
