Developed by Avalanche, AVAX now has a larger market cap than Solana’s SOL.
According to CoinGecko data, AVAX has a total market cap of $3.46 billion, while SOL has a valuation of $3.43 billion.
Both AVAX and SOL have lost value in the past few days. While AVAX lost value by 1.6% daily and 4.9% weekly; LEFT 6.2% per day, if weekly 22.7% lost value.
The Solana ecosystem has started to lose some members recently. DeGods and y00ts, one of the largest NFT projects in the ecosystem, Decided to switch to Ethereum and Polygon.
Bitcoin (BTC) and Ethereum (ETH) prices are partially stable on a daily basis. These two have lost more than 1% on a weekly basis.