Solana overtakes XRP’s position as the token jumped up another spot in the top 10 and outpaced both BTC and ETH during the market crash recovery. In today’s altcoin news, we are reading more about the price analysis on SOL.
Solana overtakes XRP’s position and it is up 12% over the past 24 hours and now became the 6th biggest cryptocurrency by market cap. It overtook XRP to claim that spot and now XRP got down 20% over the past 24 hours. After the morning crash that erased 13% from the total crypto market cap and deleted most of the gains seen by top coins over the past week as the market recovered slightly. The market has been up and down in the past hour’s but the top coin bounced faster than Solana did as it claimed the new spot on the Top 10. Solana is now up 12% over the past day to a price of $177 per coin as per the data from CoinGecko and it is the only non-stablecoin in the top 10 cryptos by market cap to be in the green in the past day as BTC, ETH, Cardano and other coins that saw a sizeable decline this morning.
![sol price](https://wordpress-1016567-4521551.cloudwaysapps.com/wp-content/uploads/2021/09/solana-overtakes-xrps-position-as-sol-outpaces-both-btc-and-eth.png)
Solana’s price dropped about 17% within an hour but regained most of the value since. Now, Solana leapfrogged Ripple’s XRP to become the sixth-biggest crypto by total market cap at a cap of $51.3 billion compared to XRP’s $51.1 billion. Solana flipped XRP and DOGE as well. XRP is now down by more than 20% over the past day at a current price of $1.10. Solana surged in value over the past month and it is up 351% over the past 30 days according to CoinGecko. SOL set a new aTH while before that the coin peaked at $56.20 in May. SOL smashed through this level on August 16 and has tripled in price in the three weeks since.
Founded in 2018, Solana Is a key rival to Ethereum which is now the leading blockchain platform for smart contract-powered applications and these are bits of code that perform set instructions and serve as the heart of a wide palette of decentralized applications like Defi protocols and NFTs. Solana saw an uptick in both these spaces including the launch of the popular NFT collections like Degenerate Ape Academy and Aurora and the price of SOL pumped right before the launch of each of those. Another Solana project Star Atlas launched an NFTs for purchase and according to the Twitter account, the game’s marketplace is to experience “capacity issues due to extreme demand.”
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![crypto total market cap](https://wordpress-1016567-4521551.cloudwaysapps.com/wp-content/uploads/2021/09/solana-overtakes-xrps-position-as-sol-outpaces-both-btc-and-eth-1.png)
The value of SOL locked in DeFi protocols and increased in the past few weeks. There’s about $5.9 billion worth of assets locked into Defi platforms on Solana according to the data from Defi LLama marking an increase from the $1.49 billion a month ago.
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