🚀 A report published by Nansen analyst on the Solana ecosystem examined on-chain data, network developments and other findings. Solana's TVL is stated at $30.95 million, which has nearly doubled since the beginning of the year. 😮
📈 Monthly Solana transactions have remained fairly stable and voting transactions have increased significantly. According to Nansen, this increased transaction and TVL demonstrates the potential for active economic activity.
🔧 Solana's solutions include wage markets and status compressions. State compression has reduced the cost of minting NFTs by more than 2,000 times. While the cost of minting millions of NFTs on Ethereum or Polygon could be $33.6 million and $32.8 thousand respectively, on Solana it drops to just $113.
💧 The rapid expansion of liquid staking on the Solana network was led by Marinade Finance, Lido Finance and Jito_sol. However, the report acknowledges that there is potential for further expansion, as only around 3% of SOL is currently allocated to these protocols.
🏢 With Visa integrating USDC settlement on the Solana blockchain, it was stated that corporate adoption and interest in payment rails increased. The report also stated that Solana has attracted the attention of consumer-oriented applications and is promising with its technology achievements, potential partnerships and infrastructure applications.
🚧 After highlighting Solana's positive aspects, the report also touched on challenges such as the uncertainty of FTX/Alameda's SOL assets. Negative news for these assets will be a temporary impediment to SOL's growth. Still, there are approximately 71.8 million SOLs locked on FTX, equivalent to 17% of SOL's circulating supply and 13% of its total supply.
🤔 In light of this news, what do you think about Solana's future? Share your thoughts in the comments section! 💬
📈 Monthly Solana transactions have remained fairly stable and voting transactions have increased significantly. According to Nansen, this increased transaction and TVL demonstrates the potential for active economic activity.
🔧 Solana's solutions include wage markets and status compressions. State compression has reduced the cost of minting NFTs by more than 2,000 times. While the cost of minting millions of NFTs on Ethereum or Polygon could be $33.6 million and $32.8 thousand respectively, on Solana it drops to just $113.
💧 The rapid expansion of liquid staking on the Solana network was led by Marinade Finance, Lido Finance and Jito_sol. However, the report acknowledges that there is potential for further expansion, as only around 3% of SOL is currently allocated to these protocols.
🏢 With Visa integrating USDC settlement on the Solana blockchain, it was stated that corporate adoption and interest in payment rails increased. The report also stated that Solana has attracted the attention of consumer-oriented applications and is promising with its technology achievements, potential partnerships and infrastructure applications.
🚧 After highlighting Solana's positive aspects, the report also touched on challenges such as the uncertainty of FTX/Alameda's SOL assets. Negative news for these assets will be a temporary impediment to SOL's growth. Still, there are approximately 71.8 million SOLs locked on FTX, equivalent to 17% of SOL's circulating supply and 13% of its total supply.
🤔 In light of this news, what do you think about Solana's future? Share your thoughts in the comments section! 💬