Solana Celebrates Fifth Anniversary with $6.85B Total Value Locked
Solana marked its 5th anniversary, having launched on March 16, 2020. Key developments include:
- 408 billion transactions and nearly $1 trillion traded on DEXs.
- Total value locked in Solana is $6.85 billion, ranking second after Ethereum.
- Designed to address scalability issues faced by Bitcoin and Ethereum.
- Market cap peaked at $77.8 billion during the 2020–2021 bull run but fell 96% to around $3 billion by late 2022.
- The meme coin market, benefiting Solana, grew 330% last year.
- Solana supports up to 65,000 transactions per second with low fees.
Future Prospects
- US President Trump announced that $SOL will be included in a proposed strategic reserve.
- BlackRock may launch $SOL spot ETFs.
- Upcoming protocol upgrades include SIMD 0123 and SIMD 0228, enhancing staking rewards and token issuance.
Solaxy Initiative
- Solaxy ($SOLX) launched as the first Layer 2 solution for Solana, aiming to improve speed and scalability.
- Solaxy's presale has raised $26.7 million since December.
- Current price of 1 $SOLX is $0.0016666 with 153% staking rewards.
Investors are advised to conduct their own research before making decisions regarding Solana and associated projects.