During the first hours of this December 4, BNB, the Cryptocurrency created by Binance, experienced a notable increase of more than 20%. It reached a new all-time high, trading at $788.
This increase allowed the market capitalization of BNB will reach 112.5 billion dollars, barely surpassing that of Solana, which stood at 112.17 billion dollars at the close of this report.
With this rise, BNB positioned itself as fifth cryptocurrency most valuable on the market, displacing Solana from that position.
The difference between the market capitalization of both cryptocurrencies is about 300 million. Source: CoinMarketCap.
The difference between the market cap of BNB and Solana is approximately $350 million. This difference might seem insubstantial, considering that the market capitalization of cryptocurrencies can fluctuate significantly based on price movement and market conditions.
This rise of BNB is part of what analysts call the Altcoin seasona phenomenon that has finally arrived after a period of predominance of Bitcoin/” target=”_blank” rel=”noreferrer noopener”>bitcoin (BTC). As reported by CriptoNoticias, 76% of the cryptocurrencies with the highest market capitalization performed better than BTC, whose dominance has fallen to 56%.
The altseason, or altcoin season, is a term used to describe a period in which alternative cryptocurrencies (altcoins) experience a significant increase both in value and in trade volume.
These altcoins typically outperform BTC during these periods. This phase attracts investors to a broader range of assets, diversifying their portfolios.
To officially determine if the market is in an altseason, indices such as the Altcoin Season Index of Blockchain Center, a tool that measures the relative profitability of altcoins, compared to BTC, in a span of three months.
Solana’s surpassing of BNB in market capitalization could indicate a shift in focus in the market towards platforms that not only offer fast and cheap transactions, but also a robust ecosystem of decentralized applications (Ethereum-bitcoin-contratos-inteligentes/” target=”_blank” rel=”noreferrer noopener”>dApps), decentralized finance (DeFi), and other innovative uses of the disruptive technology brought by bitcoin.
This article was created using artificial intelligence and edited by a human Editor.
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