Avalanche’s AVAX has a higher market cap than Solana’s Sol
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.