BNB Has Regained Its Rank as the Fifth-Largest Cryptocurrency by Market Cap and Has Surpassed Solana (SOL)

According to CryptoQuant data, BNB's market cap has risen to about $92 billion, while Solana's is $74 billion.

In a dynamic shift within the cryptocurrency landscape, BNB has reclaimed its position as the fifth-largest cryptocurrency by market capitalization, surpassing Solana (SOL).

As of Friday morning, data from CryptoQuant indicates that BNB’s market cap has reached approximately $92 billion, compared to Solana’s market cap of $74 billion.

This alteration in the rankings follows Solana’s surge in late 2024, which was largely fueled by the adoption of its meme coin. However, this dynamic has gradually changed, with BNB Chain now experiencing heightened meme coin activity.

Specifically, BNB platforms like Four.meme have witnessed the creation of over 12,000 meme tokens in a single day. In contrast, Solana’s meme coin activity has slowed considerably since its peak in 2024.

Analyzing the Market Movements

While BNB benefited from this heightened activity in meme coins, Solana’s market capitalization has stagnated. In conjunction with this market shift, the inflow and outflow data for both assets present an interesting narrative.

According to data from Coinglass, BNB has displayed consistent spot inflows for the past couple of months, aiding in its stabilization even amid volatile price movements. Conversely, Solana’s spot flows exhibit greater volatility, highlighting the shifting nature of the relation between these two assets.

At the time of writing, BNB is trading at $626.86, showing a slight decrease of 1.68% over the past 24 hours. Meanwhile, Solana is trading at $129.98, experiencing a greater percentage drop of 5.88% during the same period.

Recent trading data from CoinMarketCap indicates that BNB has performed significantly better in trading over the past few days than Solana. This is evident in the price chart, which shows BNB as comparatively stable while Solana has encountered a steep drop.

As part of its ongoing efforts to establish a dominant market presence, BNB Chain has unveiled a new initiative to increase awareness of BNB native tokens in centralized exchanges. In its announcement, BNB plans to spend $100 million in incentives on these listings to foment valuable project growth across its blockchain network.

The rewards are structured based on exchange tiers, which will determine the amount of financial incentives to be provided. Tokens listed on tier-one exchanges, such as Binance, Coinbase, or Upbit, will be eligible for up to $500,000 per listing.

Moreover, the tier-two exchanges of Kraken, Bybit, and OKX will grant $250,000 for each listing. Finally, for projects listed in Tier 3 exchanges like Bitget, MEXC, Gate.io, KuCoin, and Crypto.com, the bounty hunt amount is fixed at $10,000 per exchange with an upper cap of $50,000.