#solana seeks to flip #bnb in the fourth quarter, but Binance will not give up easily.
Solana [SOL] has shattered 14.65% this month, reclaiming the market capitalization of $100 billion that it lost earlier this year. Basically, Sol added nearly $10 billion in market value from its base of $172.
Meanwhile, Binance Coin [BNB] has only pushed 9%. Still, reaching a historical market cap of $120 billion and $900 per coin. In short: SOL still needs about a 20% market cap lift to match BNB in this cycle.
On a bullish note, the SOL/BNB ratio is closing in on a 4.5% increase from a base of 0.21.
In summary, writing a flip is not too far-fetched.
Technically, Solana would need a 20% lift to tag BNB, placing the target per sol around $234 from $195. That is a solid move, and the setup for a real run is beginning to align.
Still, it won't be easy. BNB has hit consecutive ATHS, most recently $900 on August 22, aligned with Sol's $210 resistance test. In turn, setting the stage for a proper showdown through the rest of Q3.
💥Is Binance Coin's market capitalization gaming Solana?
Solana tagged $115 billion but could not hold, sparking speculation.
Sol pulled back nearly 5% from its peak of $213, erasing around $10 billion intraday, as Rampado talks for BNB to lean on WinterMute to limit Solana and defend its market capitalization.
Even if it's 'alleged', the SOL/BNB ratio fell 3%, indicating relative weakness and liquidity rotation towards BNB. On-chain, daily active addresses are +7% on BSC versus -3% on Solana, reinforcing the trend.
And the divergence is deeper.
The Binance chain is flexing the external monthly performance, even though BNB only pumped 9% versus the 14% of SOL during the same period. That puts BNB's ATH more than a coincidence.
In short: the suppression theory does not hold. Solana still has a long way to flip BNB, both on-chain and technically, leaving BNB as the strongest play heading into Q3 and Q4.
#Solana seeks to flip #BNB in the fourth quarter, but Binance will not give up easily.
Solana [SOL] has shattered 14.65% this month, reclaiming the market capitalization of $100 billion that it lost earlier this year. Basically, Sol added nearly $10 billion in market value from its base of $172.
Meanwhile, Binance Coin [BNB] has only pushed 9%. Still, reaching a historical market cap of $120 billion and $900 per coin. In short: SOL still needs about a 20% market cap lift to match BNB in this cycle.
On a bullish note, the SOL/BNB ratio is closing in on a 4.5% increase from a base of 0.21.
In summary, writing a flip is not too far-fetched.
Technically, Solana would need a 20% lift to tag BNB, placing the target per sol around $234 from $195. That is a solid move, and the setup for a real run is beginning to align.
Still, it won't be easy. BNB has hit consecutive ATHS, most recently $900 on August 22, aligned with Sol's $210 resistance test. In turn, setting the stage for a proper showdown through the rest of Q3.
💥Is Binance Coin's market capitalization gaming Solana?
Solana tagged $115 billion but could not hold, sparking speculation.
Sol pulled back nearly 5% from its peak of $213, erasing around $10 billion intraday, as Rampado talks for BNB to lean on WinterMute to limit Solana and defend its market capitalization.
Even if it's 'alleged', the SOL/BNB ratio fell 3%, indicating relative weakness and liquidity rotation towards BNB. On-chain, daily active addresses are +7% on BSC versus -3% on Solana, reinforcing the trend.
And the divergence is deeper.
The Binance chain is flexing the external monthly performance, even though BNB only pumped 9% versus the 14% of SOL during the same period. That puts BNB's ATH more than a coincidence.
In short: the suppression theory does not hold. Solana still has a long way to flip BNB, both on-chain and technically, leaving BNB as the strongest play heading into Q3 and Q4.
