Solana Now Ranks 14 in Terms of Market Cap, Overtakes TRON and SHIB

• Solana is now ranked 14 in terms of global market cap.
• SOL dethrones TRON and SHIB and took over their place.
• Solana’s market cap currently stands at $5.2 billion.

As per the latest data from CoinMarketCap, Solana (SOL) has now dethroned Tron (TRX) and Shiba Inu (SHIB) in terms of market capitalization. SOL, which was earlier in the sixteenth position in market cap, has taken two steps forward and is currently positioned in the fourteenth place.

Solana’s current market capitalization stands at $5,214,689,107, which is $100 million more than that of TRON and almost $310 million more than that of SHIB. SOL’s market cap has been up by 2.2% in the last 24 hours. TRON’s and SHIB’s market caps currently stand at $5,129,416,484 and $4,895,369,607, respectively.

Data from CoinMarketCap reveals that there has been a spike of 58% in 24-hour trading volume for Solana. It stood at $493,056,720 during press time. SOL is trading at $14.22, with a 2.26% spike in value over the last 24 hours. The coin is also up by 5.29% over the last seven days.

TRON is also displaying a 1.29% gain during the same time period; however, SHIB is down by 2.49%. TRON enjoyed a spike in the market cap by 1.27%, but SHIB’s market cap dropped by 2.5% in the last 24 hours.

The cryptocurrency market has not yet escaped from the stranglehold of the fall of FTX. The market showed slight signs of recovery after the CPI numbers were released. But the gains seem to be short-lived, as most of the assets are now trading back in the red. BTC had touched $18,318 in the last 24 hours before falling to its current price of $17,734.