Many strong updates, milestones, roadmap releases show up Cardano is one of the biggest candidates of Ethereum killer along with Polkadot.
In recent weeks, Solana gets many exploded news and projections. Especially, FTX founder Sam Bankman-Fried talks on CNBC-e on televisions as a consultant regarding economy and blockchain technologies. He’s also one of the biggest fund providers of the Solana ecosystem.
On the other hand, the Solana ecosystem grows very well as balances with projects that work on platforms such as SERUM (SRM), RAYDIUM (RAY), SOLANIUM (SLIM), MAPS, OXY.
My other projection is about DeFi investments via FTX exchange or other DEXs like that Binance exchange and its BSC ecosystem. FTX plans to create a crypto transaction platform as a competitor of Binance Smart Chain. This is because it will be one of the biggest competitors of Pancake Swap and other BSC platforms.
Low gas fees, high TPS, growing ecosystem, and VCs fundings will affect the price of Solana positively.
So, please don’t ignore Solana and be ready to see it among the top 5 coins soon. It’s listed in the top 10 for now.
Prices of Solana Ecosystem
Solana (SOL) price broke new ATH
Serum (SRM) prepares itself to new ATH.
Raydium (RAY) runs to explosion too.
Solanium (SLIM) is ready to break new ATH.
Oxygen (OXY) is on the way for next pump
- Solana uses the storage capability of Arweave, so AR coin price increases in parallel with Solana.
- FTX exchange and Solana have an organic relationship and the FTT coin can be a utility token of the Solana ecosystem like the Binance’s BNB coin. Investors can use FTT coins for farming LPs and pools too. That’s why I’m so bullish about FTT too.
- Alameda Research is one of the biggest investors in the Solana ecosystem too
Here you can see some important updates below.
Besides making progress on the technical side Solana’s ecosystem has seen incredible growth over the last few months.
In late October last year, Circle partnered with Solana to launch its USDC stablecoin on the Solana blockchain. USDC went live on Solana earlier this year, and there is now over 470 million USDC on the Solana blockchain.
A few days later, Audius announced that they would be migrating their decentralized streaming protocol from Ethereum to Solana.
I reckon this was an easy thing to do given that Solana had released their Ethereum bridge a few weeks earlier.
In November, Solana announces the winners of their first-ever hackathon.
These included; decentralized applications for peer-to-peer messaging, fantasy sports, DeFi protocol clones, blockchain fee delegation, and even an arcade fighting game called SOL Survivor.
The Solana Foundation also announce the recipients of its first wave of developer grants. These included a Chainlink (LINK) integration, a REN integration bridge to Cosmos (ATOM) based blockchains like Terra (LUNA), a browser extension wallet for Solana, and even a Metamask integration.
In December, the Solana blockchain suddenly went down. The outage lasted almost six hours and according to the Solana team, it was quote due to a previously known issue in the block repair and processing code.
By the end of 2020, there were over 100 projects building on Solana sustained by a network of over 350 validators processing the transactions from 5 million unique wallet addresses.
In February this year, The Graph (GRT) added support for the Solana blockchain, and the center consortium announced that Solana would be the quote official chain for USDC.
In March, the infamous Sushiswap DEX launched on the Solana blockchain. Tether’s USDT stablecoin went live on Solana a few days later.
At the end of March, Solana received 40 million dollars in funding from cryptocurrency exchanges OKEx and MXC.
This is in addition to the 90 million dollars, Alameda Research provided to two projects building on Solana in the months prior. I’ll come back to that at the moment.
There are now 250 projects building on Solana which is insane considering that there were just 100 at the start of the year. This exponential growth is clearly visible on the price chart.