Solana flips USDT for a few hours – Is Ethereum the next target?

• Solana is at present the fifth-largest digital asset.
• SOL’s value surged to an ATH earlier than retracing.

In an attention-grabbing flip of occasions, Solana [SOL] briefly surpassed Tether [USDT] to assert the fourth-largest spot within the cryptocurrency rankings by market capitalization.

This surge was pushed by a outstanding rally in SOL’s value, which soared to a excessive of $295 within the final buying and selling session.

Whereas SOL has since retraced to the fifth place with a market cap of $126 billion, the query stays: Might Solana problem Ethereum [ETH] subsequent?

Memecoin mania fuels Solana

Solana’s transient flip of USDT was fueled by a major increase in community exercise, attributed to the launch of the OFFICIAL TRUMP memecoin.

The memecoin’s debut on Solana has introduced substantial liquidity, spiked buying and selling volumes, and heightened investor curiosity.

Early stories present that the token has captured social media consideration, rising adoption and transactions on the Solana blockchain.

Notably, day by day transactions surged to 850,000, whereas buying and selling quantity exploded from $9 billion to $20 billion inside 48 hours. Moreover, Solana’s Total Value Locked (TVL) reached an unprecedented $11.3 billion.

Technical indicators sign robust momentum

Solana’s value motion demonstrated strong technical energy, with the 50-day transferring common at 210.10, sustaining a wholesome hole above the 200-day MA at 175.90.

The RSI studying of 69.44 advised robust momentum whereas leaving room for additional upside. Buying and selling quantity of 1.73M SOL indicated substantial market engagement throughout this rally.

Supply: TradingView

Ethereum’s market place stays formidable

In the meantime, Ethereum traded at $3,393.63, supported by its 50-day MA at 3,536.84. With a market capitalization exceeding $411.3 billion, ETH maintained a major lead over Solana’s present $126 billion valuation.

To problem Ethereum’s place, SOL would want to achieve roughly $850, assuming present provide ranges stay fixed.

Supply: TradingView

Can Solana flip Ethereum?

Regardless of retreating to fifth place with a market cap of round $126 billion, Solana’s trajectory presents attention-grabbing potentialities.

The hole between SOL and ETH stands at roughly $285 billion, suggesting vital upside potential if community exercise maintains its present momentum.

Nonetheless, the sustainability of this progress largely is dependent upon natural adoption past speculative memecoin buying and selling.

Trying forward, SOL’s quick problem lies in sustaining momentum above $250 whereas constructing sustainable community utilization.

Whereas the TRUMP token has catalyzed spectacular progress, long-term success would require broader ecosystem growth and continued technical robustness.

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The current market cap milestone demonstrates Solana’s potential to problem established gamers, although flipping Ethereum stays a considerable process requiring greater than non permanent memecoin enthusiasm.

Because the community matures, its potential to draw and retain substantial growth exercise will probably decide its place within the crypto hierarchy.