Altcoin Solana (SOL) has risen to 11th place in the ranking of the largest digital currencies. Its closest competitor is Polygon (MATIC), which now has a capitalization of $7.338 billion.
Over the week, the SOL exchange rate has strengthened by about 55%, since the beginning of 2023, the value of this digital currency has skyrocketed by almost 72%.
Solana is trading at $15.92 at the time of this review. The coin corrected after a surge to $17.3. Last Monday, its price increased by more than 25%.
In November and December, Solana was one of the hardest hit altcoins in the crash of the FTX exchange.
Analysts do not exclude that this week SOL will return to the top ten cryptocurrencies. Such a scenario is hinted at by data from the WhaleAlert service, which tracks the movement of funds belonging to large wallets.
The day before, the whale transferred 9 million MATIC worth up to $7.579 million to the Binance exchange. If this cryptocurrency is realized, then as a result of sales and a fall in its value, Solana will be able to bypass Polygon in terms of capitalization.