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Solana (SOL) Slips Below XRP as Network Suffers Another Outage

XRP has surpassed Solana (SOL) by market capitalization, currently sitting in seventh place, according to cryptocurrency ranking website CoinMarketCap.

The two aforementioned cryptocurrencies are valued at $28.9 billion and $27.5 billion, respectively.

Solana is the biggest laggard within the top 20 at press time, shedding yet another 11% over the past 24 hours.

After recovering from the devastating Saturday sell-off, the token plunged to $87.6, its lowest level since late August, earlier today.

Solana is now down 65.69% from its record high of $259.96 that was set on Nov. 6, dashing the hopes of those who pitched its native blockchain as the top Ethereum killer. Most notably, it has shed 40% since boxing legend Mike Tyson tweeted that he had gone all-in on SOL just a little over a week ago.

As reported by U.Today, Bank of America and JPMorgan gave Solana a shot in the arm with a bullish analysis. The former predicted that the Ethereum rival could end up becoming the Visa of the cryptocurrency age, shrugging off centralization concerns.

Source: U.Today

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