The dominance of Solana (SOL) almost tripled between July and August 2021, and continued to grow in the following months. Within the crypto world, this so-called "dominance" ratio is one of the oldest and most investigated metrics available. It measures the coin's market cap relative to the overall crypto market - for instance, it shows how strong Bitcoin is compared to all the other cryptocurrencies that are not BTC, called "altcoins". In the case of Solana, the dominance somewhat reveals how often it is used for smart contracts and whether it is a popular blockchain for Decentralized Finance (DeFi) applications.
Solana (SOL) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from April 2020 to September 25, 2024
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Statista, & CoinGecko. (September 25, 2024). Solana (SOL) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from April 2020 to September 25, 2024 [Graph]. In Statista. Retrieved December 30, 2024, from https://www.statista.com/statistics/1280081/solana-dominance-historical-development/
Statista, und CoinGecko. "Solana (SOL) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from April 2020 to September 25, 2024." Chart. September 25, 2024. Statista. Accessed December 30, 2024. https://www.statista.com/statistics/1280081/solana-dominance-historical-development/
Statista, CoinGecko. (2024). Solana (SOL) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from April 2020 to September 25, 2024. Statista. Statista Inc.. Accessed: December 30, 2024. https://www.statista.com/statistics/1280081/solana-dominance-historical-development/
Statista, and CoinGecko. "Solana (Sol) Market Dominance - Its Market Cap Relative to The Market Cap of All Other Cryptocurrencies in The World - from April 2020 to September 25, 2024." Statista, Statista Inc., 25 Sep 2024, https://www.statista.com/statistics/1280081/solana-dominance-historical-development/
Statista & CoinGecko, Solana (SOL) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from April 2020 to September 25, 2024 Statista, https://www.statista.com/statistics/1280081/solana-dominance-historical-development/ (last visited December 30, 2024)
Solana (SOL) market dominance - its market cap relative to the market cap of all other cryptocurrencies in the world - from April 2020 to September 25, 2024 [Graph], Statista, & CoinGecko, September 25, 2024. [Online]. Available: https://www.statista.com/statistics/1280081/solana-dominance-historical-development/
