Bitcoin Forum

SOL is trading at a 20-month high on the back of a bustling DeFi ecosystem and meme coin mania.

This week, total value locked (TVL) on Solana topped $1 billion for the first since FTX's collapse in November last year, spurred by rising asset prices and consistent inflows to DeFi protocols.
Decentralized exchanges on Solana have experienced a boost in trading volume. On Dec. 15, Orca facilitated $746 million in volume, it has previously surpassed $100 million only once before November. Much of the increased activity can be attributed to meme coins like Bonk, a dog-themed token that now has a market cap of more than $1.2 billion.

SOL is currently trading at $81.04 having risen by 9.14% over the past 24 hours. Trading volume is up by 39% to $2.6 billion, according to CoinMarketCap.

Solana Leapfrogs XRP as Fifth-Largest Crypto, Spurred by Meme Coin Mania (https://www.coindesk.com/markets/2023/12/20/solana-leapfrogs-xrp-as-fifth-largest-crypto-spurred-by-meme-coin-mania/)

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So far it has been a very good day for the Solana investors and other memcoins, even though the difference is just around 1 Billion market cap still its good to be in the top 5 after FTX collapse. Solana investors, what is your next step?

I am not a solana investor and this isn't a financial advise either. I think that everyone now is going to think about trying to goal to reach back the former ATH. While it's possible with such pattern of what Solana is showing. I guess that the FOMO will start in once it steps to $100 again.
It's just a wow journey to this coin when I've seen it on the rock bottom and now it's rocking back to the top and even managed to surpass XRP with its ranking.

That's an important milestone and I missed it earlier on. Solana is on route to reclaim the $100 price level as long as Bitcoin doesn't do any major moves that would stunt the growth of solana. For a chain that was almost declared dead earlier this year, it's fascinating just how well the dry bones have risen. Congratulations to everyone that bought solana at the lowest point this year (not me because I was tok scared). I'm currently on their ecosystem to see if any of the well-to-do meme tokens will favor me.

The solana price collapse some time ago witnessed the collapse of several cex to date, but solana is moving as usual, for me when yesterday there was a fomo airdrop distribution, it was getting stronger for solana lovers, I think it has been 3 times or more solana investors getting multiples since deep. 2024 I think it will reach $105/solana or more than that, dex network solana there are those who have not distributed airdrops may turn around.

FTX may be forgotten a lot because bounty hunters focus on the function of this coin itself, I myself sometimes don't see what the current price is, because I don't want to miss the event ;D

The adoption of solana by other companies can also increase the value of transactions, it is customary that the denser the transaction network, the more crowded the hype of an event. Although this is not always the case, I think solana can prove its resurgence when other coins are still holding on to prices that return between deep and the nearest ath and even feel at home in the consolidation area. I am not a solana investor but I admire and buy occasionally.

It seems solana really did take off. I hope that other L2 move forward too as everyone keeps on solana ecosystem due to airdrops and meme coins. One thing that boost too is due to their saga phone which has been release and has more expensive now to its original price due to airdrops alert and giveaeay associated with it.

I can't really tell if SOL has surpassed XRP but I can say Solana ecosystem had been doing pretty much well lately, orca decentralized exchange on Solana did excellently last year with BONK the first meme coin on Solana surge higher in volume and now even listed in Binance.

Edit: SOL on 5th while XRP on 6th on Coingecko, this is really amazing tbh..

Yeah, it's crazy! BNB next on the list to leapfrog.

P.S. btw, have a look at Solana deep dive here: https://pccrypto.co/solana-deep-dive/

Analyze the past growth of this coin and look for other reasons other than speculation from market makers. When there was bad news about the sale of a large batch of Srlana from the assets of the FTX exchange, the manipulators bought this coin. I cannot predict to what price the rise will occur, but the fall will also be just as rapid.

Yes SOL has been on dream run for a while now and people are expecting for new ATH and we already see users investing into SOL and surge in trading volume which indicates either FOMO as people don't want to miss the bull run and they see price increasing and they put their investment into SOL and the other set of people are in for some quick trades since the value has been fluctuating like 5-10% everyday so people would gamble on leverages.

Sometimes when we fail to invest on time we feel like price correction is going to happen nu t end up the other way around because we don't think of logic when emotion take over.

The airdrops on the vast Solana ecosystem has been helping with the price increase. Every now and then you can read confirmed drops and speculations on social media so even regular traders participate in staking or farming. It's almost the same situation with Injective and I'm pretty sure other ecosystems will have their run as well.

Solana at this moment is trading  around $86, making the highest price in 2023, although still lower than its all time high (ATH) of $250. Solana has made very impressive gains during the past three month when it rebounded form $7. Today it has achieved fifth position in cryptomaketcap, and given the current upward trend in Solana, we can anticipate a potential move to fourth position in the near future.

Thanks to Solana team for their consistent efforts for making it so precious coin.

I would say, it is still not there yet. It has more potential to grow but it's going to take some time. Maybe more time than expected, but all we can do is wait. I am not letting go of my assets just because I see a little pump in the price. I am willing to hold for a bit long and maybe sell some if I see an opportunity. But it has not reached my targeted price yet.
I am not a big investor, so all I have is a little amount. So in order to get the desired profit out of it, I will have to wait. And I am just doing that.

With big amount you can make big profits. But for a small investor like me, all I can do is wait until my target is filled.

with solana’s market performance right now we are predicting that it might reach $100 or even reach up to $150 until the summer of next year it seems like solana will keep on getting good news with its DeFi and ecosystem presenting good potential and overall good news with the scene of cryptocurrency it’s not going to be a surprise to see solana break its ath and create a new one

It is just a few bucks away from those prices and it's very likely that we might see it then. We're not yet even in the altcoin season and that usually comes after Bitcoin's bull run. But who knows if the cycle changes and altcoin season has came first and then will be followed by Bitcoin's bull run.

Yup, it applies to Solana and also with other top altcoins that we see.

Solona is very close to overtake bnb. according to coinmarketcap data Solona is now standing with 40.38 billion in number 5 and bnb has 40.67 billion on number 4. The hype solona is getting, I believe that today or tomorrow we will see solona on number 4. The success of solona is due to so many free airdrops, fast transaction, staking and low fee. The previous failed of network created panics where all weak hands sold low while long term believer accumulated more. unfortunately I haven't accumulated at the low rate otherwise my portfolio would be pumped to 5x now

The success of Solana can be incredible, we are already seeing such a positive movement that only encourages us to think about further success. I’m sure many have already managed to invest, let’s see how lucky they are, in the new year everything is possible, potential for further success is definitely possible.

Bullish times for Solana holders, well it’s bullish to be in most coins at the moment as over the next 2 years we will see much higher prices. XRP is still a good coin to have though, there is no competition. We are all here, hoping to make lots of profit in the next bull run. May I wish the best of luck to everybody.

Solana revival is a good story for all, I think the team learnt their lessons, instead of making the VCs rich they shift their focus to community, look at the airdrops and the bonk success story the winner here are the community. If they can get this right it would their success and growth would be sustained. People saying it is memes coins, majority of tokens on Uniswap are Memes

SOL jumped over 20% in the last 48 hours or so and strongly registered its 5th spot in the marketcap ranking and there is high possibility to surpass BNB too because its just 1 Bn ahead at this moment and I don't think the meme coin is going to stop any day so SOL investors are bagging some reap now after a long time.

Solana already surpassed BNB earlier today nut the solana bulls took a chill pill and BNB have reclaimed it's spot. I'm pretty sure that Solana will comfortably flip BnB since there's no more CZ in the picture to drive the BnB narrative. BnB used to be only of the runners that lead the bull market whenever possible but right now, it's only playing catch up snd I'm sure this would continue being the norm


There are talks about Solana flipping Ethereum in this bull run. I don't know how's its possible but it'd be interesting to see. The people enjoying this solana run are those that bought solana around $8 per sol. That was a time when even the strongest beliefs of Solana were shaken out.

Not realistic, but we never know what the future has for us! ;)

Ethereum is losing its popularity among retail investors since the switch of PoS from PoW and now there are speculations that ETH may increase the staking validation from 32 to 2048eth so only whales can afford that which may be the point whether people ignore Ethereum and start ustilizing SOL.

Solana may be centralized, but it's still a better option than XRP (the latter is patronized by bankers). The recent surge in price could be a result of hype. This might be a short-lived event, leading SOL back to sub $30 prices for a while. It's surprising to know how a "meme" coin (BONK) can create a lot of buzz on the crypto market. This shows us the same is not mature yet.

I hope Solana doesn't get clogged with too many worthless "meme" coins and NFTs. Otherwise, fees will rise and transaction confirmation times will decline (just like it's happening with Bitcoin and Ethereum right now). For a coin that was linked to FTX, it's surprising to see it getting back on its feet. I'd hold on tight to see what happens in the long run. Maybe Solana will finally get past its ATH of ~$200 per coin? :D

Though we can't discard such possibility, but so far, it is still very far from horizon.
For now, I have more confidence in holding ETH for long term than SOL, and I guess, a lot also have the same sentiments.
So we may be seeing great performance of SOL right now, but the extent of usage is still wide for ETH as compared to SOL.
Hence, flipping ETH network is not on the horizon yet. They have a lot to prove in this market as well as cover a lot of usages before toppling ETH.

It has surpassed BNB already. Now SOL is at the top 4 spot while BNB goes to the top 5 spot.

It looks like that it is not going to stop and with people talking about it replacing Ethereum at the top 2 spot is what they're thinking about. Will it really happen or not? I don't think that it will happen but only who knows?

that seemed to be it, many people seem to be ditching etheruem for SOL or POLYGON since we see increase of many contract deployed as well as transactions in both of these blockchain but the amount I guess is not significant because as a matter of fact, ethereum fee still as high as ever meaning so many people are queueing to get their transaction done even go as far as paying so high fee they are still willing. doesn't mean this trend gonna be long lasting one though moreover im sure the staking, for retailer, could join staking pool otherwise such amount definitely gonna be biggest hurdle since only whales are qualified to stake by then.
im betting that in the future solana if the growth is mantained, gonna be placed at the the fourth leaving BNB by a high margin, right now the market capitalization fo the two are identical, even yesterday it just overtake BNB position which kinda speaks a lot about the capability of solana in this regard not to mention that there might be some impact directed towards BNB after the changing of CEO.

I'm not a Solana investor, but I think those who have already gained much from this growth especially those who bought SOL in the middle of this year should consider taking profit and enjoy it. Bitcoin is expected to grow more and more bullish as the halving nears and afterwards as its effect is gradually priced in. Also as the approval of Bitcoin spot ETF is about to be handed down by the SEC, this will further push Bitcoin's price up. Altcoins like SOL might be negatively affected. 

Solana is presenting a better achievement and in a day it turns from 87$ to 93$ which shows that very soon it will cross the limit of 100$. If people examine such quick gain then they will surely invest more and more in solana and it is also a better option to invest some amount in solana because it will touch the value of more than 200$ at the duration nearer to the halving.

XRP is also a better choice for investment but I think that currently the solana is getting more expensive and is preferable than XRP. People will surely fall into FOMO and they will see a light dip in solana worth but worry to be not because every dip ends soon and lead to a powerful bull season.

A good day month for Solana as it has been pumping from the start of this month. Those who have been staking SOL have seen an increase in thier overall USD balance. Some of them are now earning $500 or more only by staking. The ecosystem as OP pointed out has seen an excellent growth due to largely meme coins like BONK. Next year would be again a bullish year for them as few more projects would be launching themselves using the solana Blockchain.

Solana is still struggling hard it has flipped over Binance coin too. There is a great Competition between Solana and BNB in Market cap. If Solana will go above $100 and stable there so I am sure that it will cross BNB in Market cap. Not even this Solana also crossed Ethereum in 7 days Dex volume.

Solana is shining at this time if Bitcoin will cross ATH so I think Solana will cross $200 easily.

SOL implemented something called Proof of History(PoH), which is the hybrid version of Proof of Work (PoW) and proof of Stake (PoS) in the recent past and they claim that it is now possible to process 65,000 TXs per second and in theoretical the numbers are astonishing so I doubt that it is going to be clogged at all. While ethereum can't able to solve the scalability issue even after switching to PoS that makes SOL to be better alternative for shitcoins.

Congrats to those who hold on to Solana. They deserved it because its not a joke what they have been through. I guess you guys know already why? Other coins are bullish as well but Solana seems to be the winner among all. It's only up to the Solana hodlers if they will sell now or continue hodling, hoping this momentum will continue. We can't see the future. So don't say that in the next 2 years, we will see a much better market.

I know there is adoption, improvements , and some positive news, but there is also negativities, and then the market will sometimes dump naturally when we are on the other side of the cycle. XRP on the other hand is no doubt still a good coin, especially now that their legal issues are already cleared out. Like it or not, there will always be a competition. But, just don't mind them.

Sol market maker really has that much funds to pump the price to flip ETH from its position? I don't think so also the i think sol price is manipulated by the team to get exit liquidity for FTX sell off. They must have long SOL in exchange before pumping the price so that they can earn from the future and when the right time came they will flip the future contract to short from long and sell to get liquidity. Some big influencers have already announced that they have sold their sol to buy ETH which is logical after seeing this unnatural pump.

This is a competition you should never miss because we know how the whole market works and investing with them can be a good decision. SOL even replaced BNB for a day I think and that can still happen in the coming Months. SOL is recovering and this big pump set as the start of a bigger revolution. Do you think SOL can achieve to replace ETH? What’s your view right now, is it over priced already?

In order for SOL to surpass Ethereum in capitalization, its price must increase 6 times and reach a price of $600. And at the same time, the price of Ethereum should remain at the same level as it is now, which looks implausible. For me, it looks more likely that XRP can move ETH off the pedestal, but this can only be expected if the court proceedings against the SEC are completed positively.

I doubt that to be honest, the ETF of bitcoin will just gonna make the whole market goes to the direction of growing, the thing with ETF is that, it opens up to much much more investment means the market capitalization of the cryptocurrency is growing.
its unlike some bullish where bitcoin gonna usually raise its dominance and therefore forcing the lesser valuable altcoin to have their market capitalization decreased because all the money moving to bitcoin.
its ETF we are talking about thats gonna be massive that definitely gonna brings up some positive thing not only for bitcoin but also for the whole cryptocurrency as a whole.
I even believe that right now is probably the last right time to invest because once the news about ETF is finally out you will know how much of a price bitcoin gonna reach maybe as high as the previous all time high.
just imagine taking profit at that time would be massive for many people because that just means easy 2-3 times of initial capital for profit.

I think that is expected by everyone, Solana has been very popular with the raise of DeFi and NFT, and XRP never do any improvement to make them stay relevant in the fast paced crypto speculators market. With all many features that has been emerge in Altcoins scene, XRP keep focusing on just being a payment option, while payment option needs customer trust, the community never have a good view of them because Ripple own significant amount of XRP. That's why they keep losing investors.

You're right that ETF, spot ETF in particular, will open up the market for more investment. But I don't think this refers to the whole cryptocurrency market. The spot ETF applications are limited to Bitcoin and Ethereum. Institutional money which are now waiting for the approval will flow once the positive decision is handed down by the SEC.

But how would the likes of SOL benefit from this? There is no application for a Solana spot ETF from any of the financial companies. So there are no institutional investors keeping their money for SOL for a spot ETF approval. There is nothing to be approved.

I congratulate investors that kept their faith in Solana, and those that had the crystal ball to see that Solana, will bounce back by putting their money in it at a time when it was presumed that it was dying. This should be a lesson for investors to take advantage of buying any top altcoin that is in bear run or presumed to be worthless, because  probability is that it can make a surprise comeback to regain lost glory and being very profitable again, like in the case of Solana.

Team innovations is another thing that can revive a coin that has dipped to rock bottom, example is the Solana, deal with Shopify, that added them as a crypto payment, I hear this is one of the big drivers to their comeback. I hope they keep coming up with milestone ideas to remain in the top altcoins division.

Exactly. There's no way Solana will be able to "beat the King". Despite having lower fees and faster speeds, SOL dominates a small portion of the market. ETH's ecosystem is the biggest one in the industry (after Bitcoin) with a plethora of dApps, tokens, and services to choose from. It may be slow and expensive at times, but it's the #1 platform for "De-Fi". With due time, ETH will be able to scale to millions of users worldwide. This means a considerable reduction in fees and wait times.

I believe SOL will go as far as becoming the third-largest cryptocurrency by market cap. That's if demand continues to increase at a fast pace. Why focus on replacing ETH, when all chains can work together to make crypto land a better place? The more alternatives there are, the better. Crypto land often behaves in many strange and bizarre ways, so expect the unexpected. Just my thoughts ;D

As of the latest update,  Solana, currently is trading around $115 and  on coinmarketcap, it has not only surpassed XRP but also BNB, and securing #4 position. This remarkable achievement is seen a significant  development for Solana investors. The sentiment in Solana remains exceptionally bullish, despite ongoing Christmas holidays. The technical patterns indicate that its nest target could be $160. DYOR

Expected that it would happen but all are moving too fast, so investors who are jumping now should be careful because if fast the price surges then it's likely to be dumped at the same pace too or we may have a correction prior 2024 like coming back to $100 mark range then start being bullish.

I think Solana deserves to be in the top 5 of the crypto market. It has shown remarkable resilience and innovation after the FTX incident. Solana is not only fast and scalable, but also supports a vibrant DeFi ecosystem and a variety of meme coins. I especially like Bonk, which is a fun and rewarding token that has a loyal community. I believe Solana has a lot of potential to grow further and challenge the dominance of Ethereum and Bitcoin. I am holding SOL for the long term and I am confident that it will reach new heights.

At the time of this writing, Solana has finally reached the fifth position in market cap. Despite the "pump", SOL is still far behind its latest ATH of around $200 per coin. I guess the BONK hype was shortlived after all. We may have to wait until the spot Bitcoin ETF is approved in the US, to see what happens with major altcoins' market prices. They usually go up once Bitcoin turns bullish.

Ultimately, investing in an altcoin like Solana would be nothing more than a pure gamble. I'd suggest you never invest more than what you can afford to lose just to be safe. The future is widely unpredictable, so lets hope for the best. ;)

They are keeping their promises to their investors and they are updating to the point that they can become a huge wall to their competitors this result just showed that they are currently making history and they are taking advantage of the XRP and BNB current controversy with the SEC and this is one of the good choice for them to further stretch their lead against their competitors and make some huge development that could make their success assured and not only for them but for their investors as well.