Solana News Today: Solana Market Cap Surpasses $100 Billion, Bitcoin Dominance Drops 12%

Solana (SOL) has taken the lead among major cryptocurrencies, with its market capitalization surpassing $100 billion. This surge is attributed to a significant increase in on-chain activity and growing institutional interest. SOL's price has climbed to $190, marking its highest level in five months. The cryptocurrency's breakout above $175 to $182 this week aligns with a 12% gain over seven days, fueled by renewed on-chain activity and growing institutional inflows. This performance has led to a notable decrease in Bitcoin's (BTC) dominance, which has slid by the largest margin in three years.

The non-fungible token (NFT) market is also experiencing a resurgence, with Ethereum reaching a peak of $3,800 on Monday, its highest point in 2025. The NFT sector has added $1 billion in market capitalization in a single day, indicating a potential market revival. This heat-up in the NFT space is further evidenced by the significant activity observed in the CryptoPunks collection, where one whale recently swept 45 CryptoPunks.

The upcoming week is set to be a big one for earnings, with several key players in the cryptocurrency space expected to report their financial results. This includes major exchanges and blockchain projects, which are likely to provide insights into the current state of the market and future trends. The renewed interest in Solana and the NFT market, coupled with the upcoming earnings reports, suggests a dynamic and evolving landscape for digital assets.