SOL continues to prove its worth amid the ongoing resurgence week for cryptocurrency markets following the recent announcement of a positive inflation index.
As per data provided by OKX Ventures, Solana’s market capitalization has managed to surpass those of major tech companies including Airbus and Boeing.
SOL market cap flips Airbus, Boeing
According to 8marketcap data shared by OKX Ventures today, Solana’s market cap has reached $142.3 billion, surpassing Airbus’s $130.47 billion and Boeing’s $128.01 billion. SOL is currently ranked 133rd in the global asset market capitalization.
8marketcap data releases real-time metrics and ranking of market capitalizations of public companies, ETFs, precious metals, and crypto assets.
Over yesterday, SOL’s market capitalization was standing at $127.4 billion below Boeing’s $128 billion, Blackstone’s $129.92 billion, and Airbus’ $130.4 billion.
However, Solana’s market cap experienced an 11.7% increase today, pushing the crypto asset to stand at the 133rd position among the top global financial assets by market capitalization. It is currently standing just below Honeywell International Inc.
While the gap between the two market capitalizations is just $2.33 billion, it is still much far from that of gold, which takes the lead with a whopping $18.399 trillion market cap. Apple takes the second position with a $3.458 trillion market cap while Bitcoin clinches position seven with $2.072 trillion.
Solana price analysis
The tremendous rise of SOL’s market valuation comes at a time when its price surged to a new ATH of $293.31, which was registered today.
The key factor fueling SOL’s recent price increase is the newly launched Official TRUMP coin on the Solana protocol. The meme coin debuted on the Solana blockchain on Friday, January 17, and immediately took the digital asset world by storm.
Within the first three minutes of trading, the meme coin witnessed its market capitalization hit $14.5 billion and its trading volume surged 300% to reach $1 billion.
As highlighted above, SOL’s current massive uptrend is majorly contributed by the unique launch of the Official TRUMP token, which made Solana more attractive to users. As a result, this has led to SOL’s increased demand. SOL is currently trading at $280.12, up 16.0% over the previous day. Its price has been up 49.80% in the last seven days, highlighting increased user confidence in the digital asset.
