Solana overtook XRP to become the fifth-largest cryptocurrency on the crypto market on Dec. 20, based on current data.
As of 11:30 p.m. UTC, Solana (SOL) reported a market cap of $34.8 billion. XRP, a coin associated with Ripple, reported a market cap of $33.3 billion.
Solana’s high market standing appears to be due to its own exceptional performance rather than XRP losses. XRP was up just 1.67% over 24 hours, closely in line with market-wide average gains of 2.8%. SOL, by contrast, far outperformed the average by gaining 12.08% over 24 hours.
At the time of writing, SOL and XRP were priced at $81.45 and $0.62, respectively. The difference between each asset’s price is the result of token denomination and, unlike market cap, does not reflect each asset’s relative standing.
SOL has gradually risen since October
The reasons for Solana’s latest price gains are unclear, though it seems that this…
