Solana Overturns Tether Again To Reclaim Fourth Biggest Crypto Spot

Solana overturns Tether once again to reclaim the fourth biggest crypto spot in terms of market cap as we can see more in our latest Altcoin news today.

Despite the backtracking from its previous high, SOL as the native token of the Solana blockchain is striving to cement the position as the world’s fourth most valuable crypto Tether. Amid the market surge, SOL moved up to fourth place in the rankings with the market cap of $75.02 billion with the asset now being above the industry’s biggest stablecoin Tether. The gap between the two coins is not as big with Tether’s market cap standing at $74.49 billion as per data from CoinGecko and this is not the first time that Solana overturns Tether. The “ethereum killer” as the Proof of Stake coin is sometimes referred to as a new high of $260 as it briefly overtook both Cardano and USDT.

Ethereum is the most popular blockchain for creating decentralized applications but still, it came with a trade-off because of the surge in interest in decentralized finance and non-fungible tokens with transactions being quite high still. Solana boasts fast and low-cost transactions with the fees being $0.001 per transaction, it posed a viable alternative for the users. SOL is now trading hands at $248 or up by 1.2% over the day and up 21.8% in the past week. Both BTC and ETH entered in an uncharted price range and the combined market cap of all crypto assets soared to $3.085 trillion with Solana is enjoying a share of glory too.

One main reason for the influx of funds into the Solana network is the integration of Solana into the privacy-focused browser Brave. The partnership between Solana and Brave can see the browser add support for SOL next year while Brave has a built-in crypto wallet that supports all Ethereum-based tokens. Boasting more than 42 million active users per month and 14 million daily users, Brave is the third most downloaded internet browser right after Google Chrome and Opera. With more users and creators requiring the tools for fast access to the decentralized web, the integration will pave the way for the next billion crypto. The integration with Brave was also great for the Basic Attention token as BAT increased by 24% over the past 24 hours.

Source: https://www.dcforecasts.com/altcoin-news/solana-overturns-tether-again-to-reclaim-fourth-biggest-crypto-spot/