Solana Becomes Most Popular Blockchain Ecosystem with 39% Global Interest

Solana (SOL) has been recognized as the leading blockchain ecosystem in 2024, according to CoinGecko's latest ranking.

Solana Bags No. 1 Spot

Solana secured the top position among blockchain ecosystems, demonstrating its capacity to lead in the digital currency market. From January 1 to November 11, 2024, Solana captured nearly 39% of global investor interest, significantly surpassing other cryptocurrencies.

SOL’s share is over double that of Base, which holds second place with 16.81%, indicating a strong lead in the sector. CoinGecko attributed this growth to the launch of the Pump.fun platform in January, which increased interest in SOL. Additionally, Solana's speed and low transaction fees contributed to its popularity.

Despite leading the rankings, SOL's share of investor interest decreased by 10.5%, while other ecosystems have seen increases in their shares.

The Pump.fun Effect

The introduction of Pump.fun has significantly driven interest in SOL, enhancing customer engagement. This platform is marketed as Solana’s “fastest trading terminal” and allows for non-custodial wallet creation via email. Data indicates that over 2.5 million tokens have been deployed using Pump.fun, particularly appealing to the meme coin community due to its low transaction costs.

ETF Listing By 2025

Matthew Sigel from VanEck expressed optimism regarding Solana's potential ETF listing by 2025, citing favorable conditions for US approval. He highlighted that US President-elect Donald Trump's supportive stance on cryptocurrencies could influence this outcome.

Currently, SOL trades at $244 per coin, with a total market capitalization exceeding $114 billion.

Featured image from ByteTree, chart from TradingView