Is SOL About to Completely Take Over? – A Look At Top Projects in the Solana Ecosystem

Is SOL About to Completely Take Over? – A Look At Top Projects in the Solana Ecosystem
фото показано с : zycrypto.com

2023-11-23 15:38

Solana has been getting a lot of attention lately, especially after surging in price for the last few weeks. Going from $20.94 to $64.11 in less than a month is notable, but that’s another topic of discussion. Today, we’re talking about the best projects in the Solana Ecosystem.

Raydium (RAY)

Starting with one of the first-ever DEXes on Solana. Raydium is an automated market maker (AMM) which uses a central limit order book. This allows it to execute trades almost instantly with close-to-zero transaction fees. Raydium currently does over $69 million in daily volume.

Raydium also has a launchpad called AcceleRaytor. This allows users to invest in new Solana projects before they get listed on the market. However, allocations are determined by lottery or staking RAY tokens. At the moment, there are no active projects on AcceleRaytor.

Marinade Finance (MNDE)

Staking through Marinade Finance is one of the best ways to stake SOL tokens without relying on a centralized exchange. Marinade monitors the best validators and allows users to delegate only to the best ones in a single pool.

It works by an automated staking strategy created by the Marinade team. When using native staking with Marinade, there are no interactions with smart contracts. On the other hand, with liquid staking, users get “marinated SOL” tokens (mSOL) that they can use to interact with DApps.

Drift Protocol

Drift is the biggest perpetual exchange on Solana, which has done over $1.66b in total volume and currently has $32.6M of TVL.

The problem with on-chain exchanges is that they face issues when porting centralized infrastructure. This causes problems such as slow fills, high spreads, and low liquidity.

The way Drift deals with them is by improving efficiency by incentivizing market makers with three liquidity mechanisms: Just-in-Time Auction Liquidity, Limit Orderbook Liquidity through DLOB, and AMM Liquidity.

Magic Eden

Magic Eden is the biggest NFT marketplace on Solana. It provides a platform for people to buy, sell, and trade NFTs. And since Solana is known for its high-speed and low-cost transactions, Magic Eden is a great alternative to other NFT marketplaces such as OpenSea.

Conclusion

By the looks of it, Solana’s ecosystem is in a good place. With a variety of projects for just about everything in DEFI, it’s not hard to see why Solana has made such a big comeback. With its affordable and fast transactions, it’s definitely one of Ethereum’s biggest competitors.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Solana (SOL) на Currencies.ru

$ 242.13 (-0.45%)
Объем 24H $7.369b
Изменеия 24h: 1.63 %, 7d: 10.32 %
Cегодня L: $231.25 - H: $243.22
Капитализация $114.913b Rank 4
Доступно / Всего 474.6m SOL

solana lately attention lot especially weeks surging

Источник: zycrypto.com

solana lately → Результатов: 18


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Solana’s Bullish Comeback Sparks Buzz With 2,500% Surge Projection

Is Solana crypto ripe for a possible huge price rally? Some market analysts believe it does, seeing that the crypto is moving in a favorable pattern. Investors and traders are now paying attention to Solana after an impressive comeback, allowing the digital currency to once again hit a two-month high.

Solana (SOL) Funding Rate Signals A Decline: Investors Expect $130

Solana is now trading around a critical support level after experiencing a 15% decline from its local highs at $162. 36. While Solana has shown relative strength compared to other altcoins, the recent price action has introduced heightened volatility and potential risks for investors.

Solana, Ethereum Attract Traders Amid Bitcoin Open Interest Plunge

Data shows that Bitcoin (BTC) Open Interest plummeted during the latest market retrace, but Solana (SOL) and Ethereum (ETH) have been resilient. Solana & Ethereum Open Interest Has Only Seen A Mild Retrace According to data from the analytics firm Santiment, Bitcoin has seen its Open Interest plunge after the pullback in its price.

Solana Set For “A Major 53% Price Move,” Analyst Reveals Why

An analyst has explained how Solana could be setting up for a major 53% move based on a Symmetrical Triangle pattern forming in its price chart. Solana Has Been Travelling Inside A Symmetrical Triangle Recently In a new post on X, analyst Ali Martinez discussed a pattern that has recently taken shape in Solana’s daily price chart.

Solana & Bitcoin Sentiment Still Remains Bearish: Signal To Buy More?

Data suggests the market sentiment around Solana (SOL) and Bitcoin (BTC) is negative currently, something that could benefit their prices. Crowd Bearish About Solana & Bitcoin While Ethereum Gets All The Hype As explained by the on-chain analytics firm Santiment in a post on X, investors have still not become bullish about Bitcoin and Solana […]

Solana & Other Top Coins Lose Trading Volume, Market Interest Down?

On-chain data shows Solana and other top cryptocurrencies have seen a decline in trading volume recently. Here’s what this says about the market. Solana, Bitcoin, And Ethereum Trading Volumes Have Declined Over Past Month According to data from the on-chain analytics firm Santiment, the cryptocurrency market’s trading volume has been declining since its peak in […]