Solana, which soared past the $100 mark over the weekend, has cooled slightly.  At the time of this writing, SOL is trading for $109.20—down 11% in the past day.

But notably, SOL has remained above $100 since it edged past that milestone on Saturday. This increase is part of a broader positive trend in the crypto market, with Solana’s market capitalization ranking it as the fourth largest crypto asset. That’s spurred a lot of trading activity. In the past day, volume reached $5.6 billion, according to CoinGecko.

In fact, SOL did its highest 1-day volume of the year—$6.2 billion—and could be on track to beat that again today. It’s now doing more than double the volume that Binance’s BNB token has seen in the past day. BNB is a utility token for the Binance crypto exchange, which is used to trade and pay fees. Solana recently flipped BNB and took its spot as the fourth-largest asset by market capitalization on CoinGecko.

Meanwhile Bitcoin and Ethereum, the two largest crypto assets by market capitalization, have each taken a 4% haircut. At the time of writing, Bitcoin is trading for $41,861.48 and Ethereum for $2,197.27.

Both BTC and ETH have rallied, thanks to anticipation around possible spot ETF approvals. A handful of Ethereum ETF applications have only recently been filed with the Securities and

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Author: Decrypt Staff

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