In terms of the market capitalization of their respective native coins, Avalanche has overtaken Solana.
The whole market capitalization of Avalanche’s native AVAX coin reached $3.47 billion, which is more than the total market capitalization of Solana, which was $3.43 billion.
Both of the coins saw losses, with Solana showing a more significant decrease of 5.7% during the previous 24 hours and 22.7% over the previous week.
Following the announcements made by DeGods and y00ts a few days ago about their intentions to relocate to Ethereum and Polygon, Solana will be losing two of its most popular NFT projects.
Even while volume was minimal, most cryptocurrency-related equities were trading higher, with shares of Coinbase increasing by 8% after touching an all-time low earlier this week. Both Galaxy Digital and Robinhood saw gains of 5% and 10% respectively. Contrary to the general trend, MicroStrategy was trading at a little lower level at 10:35 a.m. Eastern Time.
Over the course of the last twenty-four hours, the value of Bitcoin and Ethereum both decreased by a marginal 0.5% and 0.1%, respectively. The S&P 500 index rose by 1.6%, while the Nasdaq rose by 2.3%, indicating that traditional markets were in the green.
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