The cryptocurrency market took a hit as hotter-than-expected economic data reignited inflation fears, triggering broader concerns. Over the past 24 hours, the global crypto market cap declined by 2.9% to $3.28 trillion, with Bitcoin (BTC) struggling to hold above $97,000.
Despite the downturn, some altcoins are gaining traction, edging closer to key valuation milestones. In particular, Finbold has identified two cryptocurrencies, Binance Coin (BNB) and Solana (SOL), on track to reach a $100 billion market cap by March, fueled by growing institutional interest and an expanding DeFi ecosystem.
Binance Coin (BNB)
BNB is approaching a significant milestone, currently trading at $669 with a market cap of $95.32 billion. A 4.91% increase would push its market cap past $100 billion, translating to a price of $701.
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Recent market trends favor this move, as BNB Chain has surpassed both Solana and Ethereum (ETH) in daily fees.
BNB Chain generated $5.8 million in fees on February 13, exceeding Ethereum’s total by more than five times, according to Nansen data. More recent data from February 16 shows BNB Chain maintaining its lead over Ethereum, collecting $1.23 million in fees, more than double Ethereum’s $602,467.
Binance’s 2025 roadmap has also played a crucial role in boosting network engagement, particularly with its focus on memecoin support, AI-powered wallet integrations, and DeFi expansion.
A major driver behind this growth is four.meme, a BNB-based memecoin incubator, which has intensified speculative trading. This was evident in the sudden $11.86 million market cap spike of the TST token, initially designed as a test token.
Meanwhile, Binance is integrating AI-powered agents into its wallets, enhancing accessibility and driving further adoption of BNB Chain.
BNB has now become the fifth-largest cryptocurrency by market cap, surpassing Solana, as surging network activity fuels demand. With transaction fees hitting record highs and user growth accelerating, BNB is on track to surpass the $100 billion market cap milestone by March.
Solana (SOL)
Elsewhere, Solana is edging closer to a $100 billion market cap, currently trading at $184.62 with a valuation of $90.16 billion. An 11% increase to around $205 would push it past this milestone, and market trends suggest the move is within reach.
One of the biggest drivers behind Solana’s momentum is growing anticipation for the potential approval of a Solana exchange-traded fund (ETF).
The U.S. Securities and Exchange Commission (SEC) is actively reviewing multiple ETF filings, including those from 21Shares, Bitwise, VanEck, and Canary Capital’s Solana Trust, which was recently added to the list of proposed products.
The development follows Grayscale’s Solana ETF application last week, which the SEC has officially acknowledged, with market watchers seeing this as a potential bellwether for broader ETF approvals.
Institutional adoption is already picking up pace. Franklin Templeton, a $1.5 trillion asset manager, recently integrated its tokenized treasury fund, the Franklin OnChain U.S. Government Money Fund (FOBXX), with Solana, following the recent registration of the Franklin Solana Trust in Delaware.
With ETF anticipation building, institutional interest rising, and increasing on-chain activity, BNB and Solana are on course to surpass the $100 billion market cap milestone by March.
This is not far-fetched, considering both assets were valued above $100 billion just a few months ago. A potential return of Bitcoin above $100,000 could reignite interest in altcoins, accelerating their growth and pushing them past this critical threshold.
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