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Solana (SOL) Continues to Grow and Is Now the 5th Largest Coin
Solana has recently seen strong price growth. Its market capitalization has now reached $126 billion, surpassing Binance Coin (BNB). A growing number of crypto analysts are closely following the coin and are pointing to the possibility of a significant shift in the market.
Solana Reaches New Milestone: TVL at Record High and Signs of a “SOL Season”
In recent weeks, Solana has once again been in the spotlight. The network has seen its Total Value Locked (TVL) rise to almost $13 billion, an all-time high. This growth has coincided with a rising market capitalization, allowing Solana to overtake BNB and become the fifth-largest cryptocurrency in the world. Analysts are wondering: Is this the start of a full-fledged “SOL season”?
DeFi Growth and Institutional Support
The rise in TVL demonstrates renewed confidence in DeFi applications, staking programs, and on-chain services within the Solana ecosystem. More capital is flowing back into protocols, boosting liquidity and trading volumes.
Institutions are playing a key role in this. Galaxy Digital, Jump Crypto, and Multicoin have jointly launched a $1.65 billion plan to build a substantial Solana treasury. Large purchases, such as Galaxy's purchase of over 700,000 SOL, are creating additional buying pressure and limiting the available supply. Whales are also flocking to Solana, including staking hundreds of millions of dollars' worth of SOL.
Solana Surpasses BNB
Thanks to these developments, Solana's market capitalization has broken through the BNB barrier. This not only gives the coin greater visibility but also legitimacy as a serious player alongside giants like Bitcoin and Ethereum.
Technical side: Eye on $238
The charts show that Solana has reclaimed a key level of $216. The next major hurdle lies at $238, the last resistance before the old all-time high comes back into view. Some analysts, such as The Wolf of All Streets, are very happy with their Solana position.
However, there are caveats. The RSI points to a possible bearish divergence, and profit-taking by whales could cause temporary pullbacks. Key support lies around $207.
Conclusion
All in all, Solana appears stronger than ever: a record TVL, massive institutional support, and rising community activity are putting the coin in the spotlight. Whether the next jump towards $300 will occur depends on the coming weeks – but the foundations for a SOL season are in place.

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BNBUSDT20241025C480
Binance Coin / Tether USD Oct 25 2024 480.00 Call
crypto