Solana (SOL) has solidified its position among the world’s largest cryptocurrencies, surpassing Binance Coin (BNB) to secure the fifth spot by market capitalization.

As of September 12, 2025, SOL trades at $ 237.90, giving it a market capitalization of $126.4 billion. The rally marks a 6.8% gain in the past 24 hours and over 15% weekly growth, driven by surging institutional interest and strong on-chain activity.

Analysts stress three key catalysts behind Solana’s momentum: Nasdaq’s approval of a Solana-focused listing, growing speculation over spot ETFs, and continuous network upgrades that strengthen its position as Ethereum’s closest competitor.

Galaxy Digital’s $536M Solana Bet

A major driver of the rally was Galaxy Digital’s reported purchase of 2.31 million SOL tokens worth nearl

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