{"id":597873,"date":"2024-03-14T20:00:09","date_gmt":"2024-03-14T20:00:09","guid":{"rendered":"https:\/\/wncen.com\/?p=597873"},"modified":"2024-03-14T14:57:15","modified_gmt":"2024-03-14T14:57:15","slug":"solana-chasing-bnb-chain-race-to-5-market-dominance-heats-up","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana\/solana-chasing-bnb-chain-race-to-5-market-dominance-heats-up\/","title":{"rendered":"Solana Chasing BNB Chain, Race To 5% Market Dominance Heats Up"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">The dominance war is on. CoinMarketCap data shows that Solana and BNB Chain, two popular smart contracts platforms after Ethereum, are emerging as strong contenders. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In a post on X, one crypto analyst <a href=\"https:\/\/twitter.com\/martypartymusic\/status\/74202598\" target=\"_blank\" rel=\"noopener nofollow\">notes<\/a> that SOL and BNB, the native currencies of Solana and BNB Chain, respectively, have been growing, subsequently expanding the market caps of their respective platforms. However, even with this price uptick, it has yet to attain the 5% level, a target for proponents of the two platforms.\u00a0<\/span><\/p>\n<figure id=\"attachment_597874\" aria-describedby=\"caption-attachment-597874\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-597874\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/GIlNtbVbgAM9Lhz.jpg?resize=1024%2C380\" alt=\"Solana versus BNB Chain dominance | Source: Analyst on X\" width=\"1024\" height=\"380\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/GIlNtbVbgAM9Lhz.jpg?w=4096 4096w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/GIlNtbVbgAM9Lhz.jpg?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/GIlNtbVbgAM9Lhz.jpg?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/GIlNtbVbgAM9Lhz.jpg?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/GIlNtbVbgAM9Lhz.jpg?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/GIlNtbVbgAM9Lhz.jpg?w=2048 2048w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/GIlNtbVbgAM9Lhz.jpg?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/GIlNtbVbgAM9Lhz.jpg?w=1140 1140w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/GIlNtbVbgAM9Lhz.jpg?w=3000 3000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-597874\" class=\"wp-caption-text\">Solana versus BNB Chain dominance | Source: Analyst on X<\/figcaption><\/figure>\n<h2><span data-preserver-spaces=\"true\">Will Solana Flip BNB To Fourth?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">When the analyst\u00a0<\/span><span data-preserver-spaces=\"true\">shared<\/span><span data-preserver-spaces=\"true\">\u00a0the screenshot on March 14, BNB Chain, powered by Binance Coin (BNB), held a slight lead with a 3.34% dominance, while Solana trailed behind at 2.72%.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/solana\/solana-smashes-major-resistance-levels-new-all-time-high-imminent\/\" target=\"_blank\" rel=\"noopener \">Solana Smashes Major Resistance Levels, New All-Time High Imminent?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">However, Solana has been on a tear. Not only is the coin outperforming Bitcoin and Ethereum, but it has been expanding rapidly, faster than BNB in the past few trading weeks. When writing, CoinMarketCap data shows that SOL is trading above $170, a multi-month high. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Moreover, it is up 11% on the last trading day and 20% in the previous trading week. At this valuation, SOL&#8217;s market cap is up 12% to over $75 billion, cementing its position at fifth, trailing BNB.<\/span><\/p>\n<figure style=\"width: 1233px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/s132jVXW\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/s132jVXW\/\" alt=\"Solana price trending upward versus BNB | Source: SOLBNB on Binance via TradingView\" width=\"1233\" height=\"592\"><\/a><figcaption class=\"wp-caption-text\">Solana price trending upward versus BNB | Source: <a href=\"https:\/\/www.tradingview.com\/x\/s132jVXW\/\" target=\"_blank\" rel=\"noopener nofollow\">SOLBNB on Binance via TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">On the other hand, BNB remains at fourth, behind <a href=\"https:\/\/wncen.com\/news\/stablecoins-surge-usdt-leads-400-million-inflows-signaling-investor-confidence\/\" target=\"_blank\" rel=\"noopener \">USDT<\/a>&#8211;the most liquid stablecoin whose market cap stands at over $103 billion. BNB is up 2% the previous day but double digits in the past week of trading. Overall, the lack of inactivity, especially on the last trading day, means its total market cap, at over $90 billion, is stable, only adding 2% on the last day.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">When comparing the performances of Solana and BNB, the former has the upper hand. For example, from September 2023, SOL gained over 200% versus BNB. BNB pared losses from January, but the revival in Solana, considering the success of meme coins, means SOL might extend gains in the future.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Solana Rally On FTX&#8217;s Bankruptcy Case Proceedings, BNB Shakes Off Regulatory Woes<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">As the competition intensifies, the future remains uncertain. It&#8217;s unclear whether SOL will overtake BNB to claim the second most dominant smart contract spot after Ethereum. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, at the time of writing, what&#8217;s certain is that the spike in on-chain activity on Solana and the unfolding events around the FTX bankruptcy case could bolster SOL prices. Therefore, it&#8217;s highly probable that Solana&#8217;s dominance might catch up with BNB as the race to the 5% level intensifies.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/microstrategy-500-million-bitcoin\/\" target=\"_blank\" rel=\"noopener \">Brace For Impact: MicroStrategy Is Planning Another $500 Million Bitcoin Purchase<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">In November 2023, Binance <a href=\"https:\/\/wncen.com\/binance\/binance-case-against-sec\/\" target=\"_blank\" rel=\"noopener \">settled<\/a> with United States regulators, including the Securities and Exchange Commission (SEC), agreeing to pay a $4.3 billion fine. As part of the deal, their co-founder, Changpeng Zhao, also had to resign as CEO. While BNB prices initially plunged, the token recovered steadily from the $300 level.\u00a0<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Shutterstock, charts from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The dominance war is on. CoinMarketCap data shows that Solana and BNB Chain, two popular smart contracts platforms after Ethereum, are emerging as strong contenders. In a post on X, one crypto analyst notes that SOL and BNB, the native currencies of Solana and BNB Chain, respectively, have been growing, subsequently expanding the market caps of their respective platforms. However, even with this price uptick, it has yet to attain the 5% level, a target for proponents of the two platforms.\u00a0 Will Solana Flip BNB To Fourth? When the analyst\u00a0shared\u00a0the screenshot on March 14, BNB Chain, powered by Binance Coin (BNB), held a slight lead with a 3.34% dominance, while Solana trailed behind at 2.72%.\u00a0 Related Reading: Solana Smashes Major Resistance Levels, New All-Time High Imminent? However, Solana has been on a tear. Not only is the coin outperforming Bitcoin and Ethereum, but it has been expanding rapidly, faster than BNB in the past few trading weeks. When writing, CoinMarketCap data shows that SOL is trading above $170, a multi-month high. Moreover, it is up 11% on the last trading day and 20% in the previous trading week. At this valuation, SOL&#8217;s market cap is up 12% to over $75 billion, cementing its position at fifth, trailing BNB. On the other hand, BNB remains at fourth, behind USDT&#8211;the most liquid stablecoin whose market cap stands at over $103 billion. BNB is up 2% the previous day but double digits in the past week of trading. Overall, the lack of inactivity, especially on the last trading day, means its total market cap, at over $90 billion, is stable, only adding 2% on the last day. When comparing the performances of Solana and BNB, the former has the upper hand. For example, from September 2023, SOL gained over 200% versus BNB. BNB pared losses from January, but the revival in Solana, considering the success of meme coins, means SOL might extend gains in the future.\u00a0 Solana Rally On FTX&#8217;s Bankruptcy Case Proceedings, BNB Shakes Off Regulatory Woes As the competition intensifies, the future remains uncertain. It&#8217;s unclear whether SOL will overtake BNB to claim the second most dominant smart contract spot after Ethereum. However, at the time of writing, what&#8217;s certain is that the spike in on-chain activity on Solana and the unfolding events around the FTX bankruptcy case could bolster SOL prices. Therefore, it&#8217;s highly probable that Solana&#8217;s dominance might catch up with BNB as the race to the 5% level intensifies.\u00a0 Related Reading: Brace For Impact: MicroStrategy Is Planning Another $500 Million Bitcoin Purchase In November 2023, Binance settled with United States regulators, including the Securities and Exchange Commission (SEC), agreeing to pay a $4.3 billion fine. As part of the deal, their co-founder, Changpeng Zhao, also had to resign as CEO. While BNB prices initially plunged, the token recovered steadily from the $300 level.\u00a0 Feature image from Shutterstock, charts from TradingView<\/p>\n","protected":false},"author":384,"featured_media":564254,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[10768,11427,16163,6931,12837,83626,85361,91849],"class_list":["post-597873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-binance","tag-bnb","tag-eth-price","tag-ethereum-price","tag-sol","tag-solana","tag-solana-price","tag-solbnb"],"acf":[],"yoast_head":"\n<title>Solana Chasing BNB Chain, Race To 5% Market Dominance Heats Up<\/title>\n<meta name=\"description\" content=\"Solana and BNB Chain are racing towards the 5% crypto dominance mark. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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