Solana (SOL) Overtakes USDC to Grab the 6th Spot on CoinMarketCap, Sporting a Market Cap of $64.26 Billion

This big move comes right after a rough “Black Monday” crash that saw the global crypto market drop by double digits. But things are looking brighter now

Crypto traders are closely watching Solana (SOL) as it overtakes USDC to claim the sixth position in the top ten largest cryptocurrencies by market cap on CoinMarketCap.

Solana’s market cap has reached $64.26 billion, compared to USDC’s market cap of $60.06 billion.

The cryptocurrency slid as low as $100 during the “Black Monday” crash that saw the global cryptocurrency market decline by double-digits.

However, the market has since recovered, with the total crypto market cap now standing at $2.66 trillion, a rise of 2.88% in the last 24 hours.

A couple of days ago, during the chaotic market downturn, Solana’s price was seen trading at around $60 to $61 billion.

But today, the cryptocurrency’s price jumped to $124.55, climbing 6.91% over the last 24 hours after briefly touching $125. Yesterday, the cryptocurrency’s price bounced between $110 and $115.

Some are placing bets on the cryptocurrency reaching $130 or possibly $150 soon, according to prediction platform Polymarket.

During the crash, Solana found support around $100 to $105 and is now testing a crucial resistance level at $125, which could be a promising sign for investors.

Meanwhile, USDC slipped to seventh place as its market cap dropped slightly by 0.11% to $60.06 billion.

The stablecoin’s price remained stable at $0.9998, but its trading volume decreased by 27.86% to $9.67 billion. While USDC is known for its stability, Solana’s rapid growth has attracted more attention.

The market’s recovery accelerated after former U.S. President Donald Trump announced a 90-day pause on tariffs, easing some concerns.

Bitcoin has surged past $83,000, and Ethereum is holding above $1,500, setting a positive tone across the market.

Solana, with its rapid transactions and expanding ecosystem of apps, is becoming a preferred choice among those seeking high returns in the crypto sphere.

As the cryptocurrency approaches the $125 mark, could it break through and continue toward $130? Only time will tell.

The crypto space remains unpredictable, but the recent rally indicates that confidence is returning, which could be crucial for the long-term health of the market.