Solana has dropped to fifth place in cryptocurrency rankings by market cap, recently eclipsed by BNB.
This follows a significant 120% rally in December in which Solana's market cap surpassed that of Binance’s BNB.
However, Solana's price retreated post-Christmas, dropping below $100 and then hovering just over $101 for several hours.
As of the article's publication, Solana was trading for $105, a decline of approximately 14% from its annual high of $123, which it reached on December 26.