Solana’s Golden Age: A New Story, a New Beginning

Original - Odaily

Author - Azuma

After 27 months, Solona (SOL) once again broke through the $200 mark.

OKX market data shows that SOL once rose to US$205 this morning, which is less than 30% higher than the historical peak of US$259.69. From the perspective of market value, SOL has surpassed BNB ($85.6 billion) with a circulating market value of US$88.1 billion, temporarily ranking fourth in the cryptocurrency market value rankings. There are concerns in the community about continuing to flip USDT and flip ETH The voice has become louder and louder.

This script is not unfamiliar. During a bull market, Solana also had the aura of the Ethereum killer on its head, and with the help of a certain explosive head, it once ranked among the top three cryptocurrency market capitalization rankings.

But the content of the story this time is different. If Solana relied more on the power of super capital to convince people with gains in the last bull market, then this time, Solana relies more on the internal ecosystem. Fengfa has achieved more vital growth - from the perspective of ecological fundamentals, Solana is now in the golden age of its own development.

On March 15, riding on the wave of memes such as BOME, 9,943 SPL tokens were added to the Solana network, setting a new high for single-day growth.

On March 16, as fomo sentiment continued to spread, the number of active addresses on the Solana network rose to 1,789,898, the highest value since September 2021.

On the same day, the total DEX transaction volume of Solanas entire network reached a record high of 3.808 billion U.S. dollars, which exceeded the total DEX transaction volume of Ethereum and all Layer 2 on that day.

Judging from market sentiment, the search popularity of the word Solana in Google Trends has reached 100, exceeding the previous high (84) in early September 2021, setting a record high in the 5-year history of the word Solana search trends.

In terms of infrastructure, the new client Firedancer developed by Jump Crypto has already been deployed to the test network and will soon be put into the main network. This is expected to significantly improve the decentralization and operational stability of the Solana network.

In terms of ecological creativity, Solana has given birth to creative products in LSD, DeFi, GameFi and other fields - Jito achieves both MEV income and native staking income; Jupiters design in aggregation, DCA, DLMM, etc. makes it possible It has almost become the most useful trading product on the market; Parallel has also chosen Solana as a new place to deploy its new AI work Parallel Colony...

It is also worth mentioning that DePIN is different from Ethereum (Vitalik) which is still exploring whether DePIN is just old wine in new bottles. The Solana ecosystem has emerged with circle-breaking projects such as Helium Mobile, and another DePIN cutting-edge io.net has also emerged. It has received a huge financing of US$30 million.

For ordinary users, the most attractive aspect of Solana is the powerful wealth effect it has demonstrated.

In the past few days, meme tokens in the Solana ecosystem such as BOME have created countless stories of getting rich. With the simple, crude but fair launch style gameplay of I, Qin Shihuang, make money, they have attracted a large number of new users. enter. BOME itself has also achieved the achievement of listing on Binance in three days and has become another iconic meme token of the Solana ecosystem after BONK and WIF.

Earlier, the generous airdrops of many projects in the Solana ecosystem had also envied others. Different from the airdrops of Ethereum, Layer 2 and other ecosystems, the airdrops of Solana ecosystem such as JTO, JUP, PYTH mainly focus on a big hair and no roll. Users can get considerable rewards without investing too much time and money. Airdrop income.

All in all, todays Solana ecosystem is showing amazing vitality. Compared with the previous bull market, Solana has achieved more amazing results in many aspects such as infrastructure, ecological applications, market popularity, wealth effect, etc. Will these achievements be finally recognized? The market recognizes and prices SOL, and we remain optimistic.

At the end of the groundbreaking Breakpoint conference hosted by Solana last winter, Coinfund partner Austin Barack predicted that the next 24 months would be the time for Solana to show off its capabilities.

Now it seems that Solana has started its show time.