SOL surged 850% in the past year and officially surpassed BNB to become the fourth largest cryptocurrency

Solana (SOL) has performed very well in the past week. While major cryptocurrencies such as Bitcoin and Ethereum are experiencing shock and correction, SOL has risen step by step, soaring more than 43% in a single week. , and broke through the US$200 mark today (18th), surpassing Binance Coin (BNB) in market value and climbing to US$90 billion, becoming the fourth largest cryptocurrency in the world.

According to OKX market data, SOL has risen by more than 10% in the past 24 hours, and was at $204.52 at the time of writing, which is still about 21% away from the historical high of $259.69 set in November 2021.

Solana (SOL) was hit hard after FTX's difficulties and faced a liquidity crunch due to the vigorous promotion of FTX founder Sam Bankman-Fried (SBF). problem, causing the currency price to fall for a time.

Now as the ecology on the Solana chain is revitalized, ecological meme coins BOME, WIF and BONK have become popular in the cryptocurrency community. Not only has the price of SOL currency risen steadily, it has soared by more than 850% in the past year. It has also continued to attract funds into major DeFi protocols, driving Solana’s total lock-up value (TVL) to exceed US$4 billion.

According to DefiLlama data, Solana’s TVL has grown by more than 187% this year. It was only US$1.417 billion on January 1, but has now grown to US$4.072 billion.

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