Will Solana Recent Surge Propel SOL to Overtake Cardano (ADA)?

• Solana (SOL) market cap surged over 106% in the last 30 days.
• Solana and Cardano are in close competition, with a 2% difference in market caps.

The so-called “Ethereum Killers” Solana (SOL) and Cardano (ADA), emerged as strong competitors in the global crypto market. Following the Ripple (XRP) victory against the U.S. SEC, both cryptocurrencies have gained significant momentum, with Solana experiencing a remarkable surge in market capitalization.

Over the past month, Solana’s market cap has surged by a staggering 106%, jumping from $5.77 billion to $11.93 billion, which was recorded on July 14th. This achievement marks the highest level for Solana since November 2022, underlining its growing influence and investor confidence.

As a result of this surge, Solana has surpassed well-established cryptocurrencies such as Litecoin (LTC), Tron (TRX), Polygon (MATIC), and Dogecoin (DOGE), securing the 8th position in terms of market cap.

Solana (SOL) vs Cardano (ADA)

Solana’s bullish momentum continues, allowing SOL to reclaim its market position. Currently, Solana is closely competing with Cardano (ADA), which currently holds a market cap of $11.55 billion.

The market cap difference between Cardano and Solana is just 2%, with Cardano holding a slightly higher market cap compared to Solana. This intensifying competition between the two cryptos further highlights the significance of their achievements and the strong demand.

At the time of writing, Solana (SOL) is traded at $27.99, with a market cap of over $11.30 billion. In the past 24 hours, SOL has experienced a 5% price increase and a notable 30% surge within a week. Since the beginning of the year, Solana has witnessed an astonishing growth of 181%, and currently SOL holds a 24 hour trading volume of $1.7 billion.

On the other hand, Cardano (ADA) is currently trading at $0.33 with a market cap of $11.55 billion. In the past 24 hours, ADA has seen a 1.4% price rise and has gained 17% in a week. In addition, Cardano has a 24-hour trading volume of $548 million, which is 50% lower than Solana.

These statistics highlight the positive performance of both Solana and Cardano, showcasing their substantial gains over various timeframes.

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