This previous 12 months marked a comeback for
Solana after it almost grew to become a cautionary story in the wake of the infamous FTX collapse in late 2022. Quick-forward to at the moment, Solana gained 86% in 2024 whereas hovering to a brand new all-time excessive of $263.84 on Nov. 23.
This value improve is affirmation that Solana crushed it final 12 months. Its
DEX trading volume rose to a formidable $626 billion in 2024, almost catching as much as Ethereum, which recorded $674 billion.
In the meantime, Solana’s meme cash have develop into a cultural and monetary drive,
ranking fourth in the top 20 crypto narratives of 2024.
Moreover, institutional urge for food for Solana is rising. Main asset supervisor Volatility has filed for 3 new
Solana-based futures ETFs to commerce on CFTC-regulated exchanges. In 2024 alone, 4 of the largest names in the monetary world—VanEck, 21Shares, Bitwise, and Canary Capital—submitted proposals for Solana ETFs in the U.S. The ball lies in the SEC’s court docket as we stay up for 2025.
Quite a bit occurred in the previous week (and in 2024). Even
coffee found its way to the Solana blockchain. Let’s unpack this crypto juggernaut’s newest milestones and unforgettable moments as we carry down the curtain to a exceptional 12 months.
Solana lastly caught a break after a troublesome few weeks. $SOL is up 8.36% in the previous week, marking its first inexperienced week after two powerful consecutive declines. The excellent news continues.
The variety of day by day energetic addresses on the community has exploded,
soaring from 644.7K a 12 months in the past to a formidable 5.8 million at current, going as excessive as 9M wallets in October.
Solana made vital strides in DEX buying and selling quantity in 2024, reaching a formidable
$626 billion—only a hair behind Ethereum’s $674 billion.
On the weekly chart, Solana’s DEX buying and selling quantity took a punch to the intestine, falling 10.36% to $21.043 billion.
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It was a difficult week, however the bulls finally wrestled management from the bears as 2025 heralds a brand new period for crypto regulation. Whereas $SOL’s restoration outpaced the competitors,
Bitcoin slipped over 2%, staying removed from the $100K mark.
Ethereum remained regular, holding sturdy above $3,400, as
XRP, which surged massively in the 2024 This autumn rally, was scorching on Solana’s heels with a strong 5% achieve.
The much-anticipated altcoin season took successful because the
CMC Altcoin Season Index confirmed altcoins shedding floor to Bitcoin. The index dropped to 47, tipping the scales towards a Bitcoin season and placing altcoin momentum on pause.
The DeFi panorama remained largely steady, with Solana holding firmly to its second spot and
Tron sustaining third place. In the meantime, Ethereum continues to name the pictures on the prime.
The
Solana ecosystem’s market cap and buying and selling quantity greater than doubled over the previous 12 months, fueled largely by the explosive rise of meme cash.
The Solana ecosystem had a stellar week, with most tokens erasing losses from the earlier week.
- AI agent platform ai16Z led the pack with an outrageous 193% achieve.
- In a serious transfer, asset supervisor Grayscale added two Solana-based tokens, Jupiter (JUP) and Jito (JTO), to its diversified prime 20 listing of high-potential property for Q1 2025. Each tokens noticed beneficial properties, with JUP up 7.22% and JTO rising 2.04%.
- Nonetheless, it was not all rosy, as there have been additionally some notable casualties. Chainlink (LINK) and Helium skilled single-digit losses.
High Gainers:
- ai16z (AI16Z): +193.05%
- io.net (IO): +17.79%
- GMT (GMT): +13.59%
- Raydium (RAY): +11.33%
- Wormhole (W): +10.07%
High Losers:
- Helium (HNT): -5.91%
- ChainLink (LINK): -2.98%
- Pudgy Penguins (PENGU): -0.96%
Solana was one of many best-performing DeFi networks, with
its total value locked (TVL) hovering 8.25%, reaching $8.95 billion. Hyperliquid led the cost, climbing almost 25%, whereas Ethereum and Tron noticed solely marginal beneficial properties.
In December, Solana achieved a serious milestone,
adding $1 billion in stablecoin TVL, bringing its complete stablecoin TVL near $5 billion. Solana’s Jito Protocol staking platform marked one other win, producing over
$100 million in monthly tips.
Solana Meme Cash
The 12 months 2024 will likely be remembered because the 12 months of
Solana meme coins. Solana’s meme cash captured 7.65% of investor mindshare, securing the
fourth spot in the top 20 crypto narratives of the 12 months. On the coronary heart of this surge was Pump.enjoyable, which noticed over 4 million tokens launched on the platform.
Whereas it is nonetheless early to declare that Solana’s meme cash are formally “again,” the weekly charts are exhibiting promising indicators, with inexperienced candles beginning to seem. Pump.enjoyable, Solana’s meme coin hub,
generated $14 million in revenue on New Yr’s Day.
Nonetheless, the panorama wasn’t with out casualties, as some meme cash nosedived, tumbling over 20%.
High Gainers:
- Gigachad (GIGA): +36.17%
- Goatseus Maximus (GOAT): +31.10%
- Popcat (POPCAT): +10.93%
High Losers:
- FWOG (FWOG): – 25.97%
- Hehe (HEHE): -19.3%%
- Smoking Chicken Fish (SCF): – 12.27%%
- Billy (BILLY): -3.47%
Solana DePIN
- Solana’s DePIN ecosystem had a combined week, with some tokens seeing sturdy beneficial properties whereas losses remained average.
- Grass (GRASS) led the way in which with a formidable 27.7% improve, whereas io.internet and Hivemapper (HONEY) additionally loved strong double-digit beneficial properties.
- On the flip aspect, Nosana (NOS) and Helium (HNT) confronted setbacks, becoming a member of the listing of losers for the week.
NFTs
- Solana’s reign as the highest blockchain platform for NFT users is dealing with its most critical problem but. The hole between Solana (26.2%) and Ethereum (24.9%) has shrunk to a surprisingly skinny margin.
- Ethereum’s consumer base has remained largely unchained, with modifications coming from down the ranks.
- Polygon and Base had been large winners this week as they captured vital market share.
- This growth suggests the NFT area may develop into more and more aggressive past the Solana-Ethereum rivalry.
Grayscale Spotlights Two Solana Tokens in Q1 2025 High Picks
Grayscale Analysis has
added six tokens to its “High 20” listing of high-potential crypto property for Q1 2025, citing sturdy progress prospects throughout a number of components. Two Solana-based tokens, Jupiter and Jito, are included on the listing.
Solana’s Stablecoin Surge in December
In December, Solana onboarded an extra
$1 billion in stablecoins, primarily in USDC, bringing its complete stablecoin TVL to just about $5 billion.
Solana Meme Cash Rank Amongst High Crypto Narratives
Solana’s meme cash secured the
fourth spot in crypto narratives in 2024, capturing almost 8% of market curiosity.
Volatility Shares Recordsdata for Solana Futures ETFs
Asset supervisor Volatility Shares has
filed for 3 new ETFs aimed toward gaining publicity to Solana futures contracts on CFTC-regulated exchanges. Nonetheless, these merchandise aren’t but accessible available on the market.
Agridex Facilitates First Onchain Espresso Commerce on Solana
Agridex, a Solana-based RWA platform, accomplished its
first-ever on-chain coffee transaction, enabling a U.Ok. espresso model to export premium espresso to South Africa.
- Control Jupiter and Jito this Q1 2025.
- Weigh your DeFi choices as Solana’s stablecoin TVL soars previous $5 billion!
- Trip the Solana meme coin wave, however be sure to guard your investments.
- Look ahead to Volatility Shares’ potential Solana futures ETFs!
- Uncover how Solana may reshape international commerce with on-chain transactions.
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