Solana Surpasses BNB in Market Capitalisation

Amidst the market’s recovery following a correction, the cryptocurrency Solana (SOL) has surged by approximately 6.5% over the past day, allowing it to surpass BNB in terms of capitalisation.

The total market value of SOL stands at $84.46 billion, while BNB’s corresponding figure is $84.39 billion, according to CoinMarketCap.

The screenshot below provides a comparison of the assets based on FDV.

BNB’s figure is significantly lower, which may largely be attributed to the quarterly coin burns.

The DeFi ecosystem based on Solana also surpasses BNB in TVL — $5.35 billion compared to $4.75 billion.

The largest share of this figure is attributed to the Solana application Jito for liquid staking ($2.16 billion). The most popular dapps based on BNB are Venus and PancakeSwap ($1.64 billion and $1.63 billion respectively).

Earlier, the Solana team allocated $1 million for bug bounties in the first version of the Firedancer client for validators. This initiative aims to enhance the resilience and speed of the decentralised system.