Binance Coin (BNB) has overtaken Solana (SOL) in market cap, solidifying its position as the fifth-largest cryptocurrency in the market.

The shift comes as BNB has seen a strong rally in price, while Solana has struggled with recent declines.

BNB Up, Solana Down

At the time of writing, BNB’s market cap is $102.9 billion, roughly $8.5 billion above SOL’s valuation. The asset has soared 11.8% in the past 24 hours, hitting an intraday high of $720 before settling around $705.

BNB has gained 22% in the past seven days, outpacing the broader crypto market as well as other smart contract platforms, which have remained largely unchanged. The token is still in the green for the past two weeks and month, though the gains are much more modest: 4.3% and 2.7%, respectively.

Solana, meanwhile, has suffered losses, falling 4.1% in the last week and a more pronounced 19.2% in the last two weeks. Since yesterday, its price has fluctuated between $189 and $20, stabilizing at $193.

SOL’s fall comes as broader market volatility weighs on altcoins, with assets like OM and RAY seeing even sharper losses. Bitcoin also tried to break above $98,000, but ran into strong resistance, falling back to $96,000.

The turbulence has seen the sector lose more than $80 billion of its total value in just 24 hours. However, BNB’s move coincides with Binance Chain announcing a major upgrade in 2025. The blockchain will implement faster transaction speeds, AI-powered innovations, and gas-free payments.

Solana, on the other hand, has done well in the retail decentralized exchange (DEX) space, with a recent report showing that it accounted for nearly half of the total DEX volume. About 60% of the activity was driven by the popular meme launch platform Pump.fun.

The meme coin space on the network was so huge that at one point last month, search volumes for “buy Solana” reached the highest on Google Trends, helped by the launch of Trump’s official token.

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