Solana has overtaken Cardano in terms of market cap, setting a new all-time high in the process and could be primed to surge higher in the coming days.
Solana’s value has increased by 11% over the past 24 hours, making it the best performer amongst the top ten cryptocurrencies by market cap. By rallying more than 11% over the past 24 hours, SOL reached a new all-time high of $230 a few hours ago.
Solana’s total market cap is now above $68 billion. If the cryptocurrency continues to perform excellently, it could soon touch the $70 billion mark and challenge USDT for the fourth position on the market.
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See all Solana forecastsSOL Sets Sight on $250
The cryptocurrency market has been performing excellently since the start of the fourth quarter. Solana’s recent rally saw it reach a new all-time high at $230, setting it up nicely to record further gains over the coming hours and days.
If Solana can maintain its current momentum, then it could rally higher and make a move towards the $250 resistance level over the next few hours or days. An extended rally could see SOL make a move towards the $300. However, SOL would need the support of the broader cryptocurrency market if it is to reach the $300 level soon.
Solana has become home to some of the leading DeFi protocols. Numerous NFTs are also minted and sold on the Solana network.
