The third quarter of 2021 ushered a large wave of public blockchains, and it’s fair to say that amongst them, Solana stood out the most.
Its market value rushed to sixth place in the crypto market value list and its value has previously risen from 140 to 221 US dollars.
While analyzing the prosperity of the public chain represented by Solana, it is easy to determine that Solana is not only a blessing of technology but also the construction of a rich ecological network to obtain long-term development momentum.
Relying on the positive development trend, Solana has recently gained many partners and positive reviews such as crypto asset management company Osprey Funds launching the Solana fund.
Also, various signals and actions have confirmed Bloomberg’s latest report that suggested Solana’s token value resisted the crypto collapse caused by Bitcoin, and it may become a potential long-term competitor of Ethereum.
According to the official data released by Solana, there are already 338 Solana ecological roles, and different ecological matrices such as infrastructure, wallets, tools, browsers, oracles, DeFi, Dapp, NFT, GameNFT, funds, and more. Amongst them, the DeFi ecosystem has become more prominent.
Some of the popular DeFi released on Solana include Serum, Parrot Protocol, and Apricot Finance. Additionally, the recent NFT craze had been particularly valuable to Solana as many shifted to its network due to low transaction costs and gas charges.
Solana is known as a new force challenging the old public chains such as Ethereum and Bitcoin. But behind this, there have been years of unknown accumulation and experience that are difficult to subpar. It is yet to see if Solana will stand the test of time and deal head-on with new challenges the industry faces in the near future.