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They are all old blockchains, why has Solana risen to the point where it has no rivals?
Author: Grapefruit, ChainCatcher
Recently, as the price of SOL tokens has been rising steadily, tokens in the Layer 1 public chain sector have also seen a general rise. On December 12, Avalanche's AVAX token and Cosmos' ATOM both rose by more than 20% in one day, with AVAX exceeding $40 and breaking into the top ten in market value; Near's native token NEAR rose by more than 30% in the past 30 days; Fantom token FTM has increased by 15% in the past 14 days and so on.
Last week, the wealth effect brought by the JTO airdrop from Jito, the liquid staking protocol in the Solana ecosystem, completely activated the long-neglected on-chain ecological applications. At this time, people discovered that the Solana ecosystem had recovered strongly, and a number of native new applications were trying to emerge, including the transaction aggregator Jupiter, the liquid staking platform Marinade Finance, and so on. Today, the TVL on the Solana chain exceeded US$1 billion (approximately US$1.044 billion), and the 24-hour transaction volume on the chain was US$912 million, making it the second largest Layer 1 network after Ethereum (US$1.23 billion).
Recently, as the price of SOL tokens has been rising steadily, tokens in the Layer 1 public chain sector have also seen a general rise. On December 12, Avalanche's AVAX token and Cosmos' ATOM both rose by more than 20% in one day, with AVAX exceeding $40 and breaking into the top ten in market value; Near's native token NEAR rose by more than 30% in the past 30 days; Fantom token FTM has increased by 15% in the past 14 days and so on.
Last week, the wealth effect brought by the JTO airdrop from Jito, the liquid staking protocol in the Solana ecosystem, completely activated the long-neglected on-chain ecological applications. At this time, people discovered that the Solana ecosystem had recovered strongly, and a number of native new applications were trying to emerge, including the transaction aggregator Jupiter, the liquid staking platform Marinade Finance, and so on. Today, the TVL on the Solana chain exceeded US$1 billion (approximately US$1.044 billion), and the 24-hour transaction volume on the chain was US$912 million, making it the second largest Layer 1 network after Ethereum (US$1.23 billion).
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SOL
172.23
+19.33%
NEAR
3.426
+5.44%
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