Solana Eyes Q4 Flip of BNB Amid On-Chain Momentum
Solana has surged 14.65% in August to reclaim a $100 billion market cap, adding nearly $10 billion in value as SOL eyes a market cap flip of Binance Coin. BNB is up 9% this month, hitting an all-time high $120 billion valuation and $900 per token. To overtake BNB, Solana needs another 20% market cap increase, aiming for around $234 per SOL.
The SOL/BNB ratio climbed 4.5% in August, marking Solana’s first monthly outperformance since May. On-chain metrics show daily active addresses on Solana down 3% while Binance Smart Chain’s are up 7%, reinforcing BNB’s current edge in liquidity and retail engagement. Technical resistance at $210 is key; a decisive break could pave the way toward $234. Traders should monitor on-chain flows, address trends, and BSC vs. Solana momentum as the two platforms compete through Q4.
Bullish
The news highlights strong momentum for Solana, with a 14.65% rally in August and a renewed focus on overtaking BNB’s $120 billion market cap. The rising SOL/BNB ratio and technical setup above $210 suggest further upside toward $234 if key resistance is cleared. Although BNB’s on-chain activity remains stronger, traders are likely to respond positively to Solana’s on-chain improvements and ratio gains. In the short term, a break above $210 could trigger bullish momentum, while long-term gains depend on sustained network growth and liquidity shifts.