Solana (SOL) has risen to become the fourth-largest cryptocurrency by market cap, overtaking Binance Coin (BNB).

The approval of the Python DAO network, which uses the Solana Virtual Machine, has been a significant factor in SOL's price surge.

Despite experiencing network outages, SOL's value has increased by 19.99% over the past week.

The upcoming Solana smartphone, Chapter 2, has garnered substantial consumer interest with 100,000 pre-orders.

Crypto analyst Altcoin Sherpa forecasts a strong performance for SOL in 2024, suggesting it may exceed its all-time highs.

Altcoin Sherpa recommends purchasing SOL now for potential long-term gains despite the possibility of short-term price dips.

SOL's current trading price is $112.90, reflecting a 1.0% increase in the last 24 hours and a 7.8% rise over the week.