Solana (SOL) has overtaken BNB to secure the fourth position in global cryptocurrency rankings by market cap. Following a robust 8.7% increase in value over the past 24 hours, SOL now stands just behind Bitcoin, Ethereum, and USDT, according to CoinMarketCap. This leap is part of a broader 34% gain observed over the past month, pushing its value beyond the $182 mark.

The momentum behind Solana’s rise could be linked to the broader acceptance of cryptocurrencies in institutional frameworks. With Bitcoin and Ethereum paving the way with the first crypto-based ETFs in the U.S., the market’s confidence in digital assets continues to grow. Solana, in particular, has caught the market’s eye with potential talks of its own ETF by 2025, signaling even greater potential ahead.

As cryptocurrencies dominate discussions in 2024, Solana’s recent performance suggests it may be aiming for the top three spots permanently. Market analysts and enthusiasts alike are watching closely, with many seeing this as just the beginning of a larger upward trend.