The wider market of cryptocurrency has paid massive attention Solara (Soil) because its price model continues to fluctuate.
In the midst of this price volatility, Messari, an intelligence platform for the leading cryptographic market, has canceled its performance in X 2024.
Solana’s explosive growth in key measures
Messari’s analysis highlights the remarkable performance of the fourth quarter of Solana, arguing that it could be one of the strongest districts in its history.
This conclusion was based on Solana figures in key measurements. According to total economic activity on Solana, or the “GDP of the chain”, the network recorded an increase of 213% to 840 million dollars.
This chain GDP, which probably includes total transaction costs and protocol income, indicates massive growth. He also suggests increased use and adoption of the network.
The total value of locked Solana (TVL) in the fourth quarter reached $ 8.6 billion. TVL measures the amount of active ingredients locked in the Decentralized Solana (DEFI) decentralized financing protocols.
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A high TVL suggests that more capital is used in the ecosystem. Consequently, the fact that he reached $ 8.6 billion in the last three months of 2024 shows that investors had great confidence in the assets.
Another key measure in which the growth recorded soil is a decentralized exchange volume, which increased by 150% to 3.3 billion dollars per day.
This development indicates an increase in user’s commitment and liquidity in the Solana DEFI sector.
In addition, the total supply of stablescoins such as USDT and USDC on the Solana network reached $ 5.1 billion, which represents an increase of 36%.
Analysts indicate that the increase indicates that more users have transformed on the network and used it for DEFI or payments.
Same and a boost expansion of the ecosystem
Meanwhile, Solana’s ecosystem has done pivots, identifying with the same and decentralized physical infrastructure networks (deppin).
These developments indicate diversification in real world applications.
Solana has become a popular platform with the same, mainly because of its rapid transaction, its reduced costs and its creation of tokens without authorization.
Even launched, as Pump recorded an explosive growth that amazed the cryptographic community.
In addition, Solana Memecoins as Bonk has strengthened the attraction of the ecosystem with massive gains leading to an increase in activity on the chain.
Experts say that Solana’s decision is an advantage because it goes from a speculative blockchain to another user case.
Analysts predict an upward impulse for soil
Messari, in his analysis, argued that the massive growth of Solana in several sectors, from Defi to Stablecoins, reveals its future potential.
Other analysts have studied the historic movements of Solana and prices, which support Messari’s point of view.
Like the Republic of the play reportedTrader Tardigrade, a renowned market analyst, said that soil generally reaches significant price growth after having experienced long spells of volatility.
Solana’s technical analysis is currently showing that it could trigger a price wave. According to the late merchant, if Sol successfully exceeds $ 230 and supports the momentum, the room could rise to $ 420.
Other analysts have revealed more prudent optimism for soil. Project analysts’ prices could reach $ 300 if they are supported by investors.
In particular, the volume of trading must remain permanently high for Solana to assisted a significant ascent.
When writing these lines, the Soil price Changed hands at $ 197.21, an increase of 7.49% in the last 24 hours. On the other hand, the commercial volume dropped by 31.31% to $ 5.14 billion.
Market observers argue that these measures reveal that Solana has not found a stable market dynamics.