Solana (SOL) gains momentum, fueled by its cost-efficient appeal to developers in leading DeFi projects. Additionally, Messari anticipates an upcoming airdrop season for the platform. On another front, a novel meme altcoin, driven by innovative themes, advances in its swift second-round presale initiated on November 05, 2023. Stay tuned for insights into Solana’s growth.
Solana is Currently in the Airdrop Season, Maintaining a Strong Competitive Edge
The Solana ecosystem has recently seen a surge in liquidity and user engagement, attracting attention for potential airdrops like JitoSol, Zeta, Drift, and Marginfi. Notably, Pyth’s PYTH coin experienced a substantial increase after its airdrop, exemplifying the positive trend.Another factor contributing to Solana’s bullish outlook is its robust activity in decentralized applications, driven by its cost advantage. With an average transaction cost of $0.003, Solana stands out compared to Ethereum’s $7, making it a preferred choice for developers in gaming, NFTs, and collectibles.In November 2023, NFT activity on Solana witnessed a 35% increase, generating $24.5 million in sales, as reported by CryptoSlam. This growth stands out, especially considering a 34% decline in popular NFT volume on other blockchains.The current value of SOL reflects the state of Solana, standing at $63.40, a significant rise from its September 2023 low of $17.35, marking a 265% increase. Projections suggest that if Solana maintains its momentum, SOL could potentially trade in the range of $70-150 or even higher in 2024.Now, without further delay, the earlier mentioned project is Pyth’s PYTH coin, which experienced a noteworthy surge post-airdrop.
