SOL's Meteoric Rise in 2024

SOL is up 333% in 12 months. Source: Brave New Coin Solana Market Cap data. SOL is the native cryptocurrency of the Solana blockchain and is one of the best-performing in the market currently in 2024, showing the quality of activities on the blockchain.

Solana (CRYPTO: SOL) has seen a massive surge in token deployment this year, largely driven by the popularity of meme coin projects and Solana's reputation for low-cost, efficient token minting.

Solana's latest record

This uptick in token deployment has coincided with heightened trading volumes and increased on-chain activity. Decentralized exchanges (DEXs) built on Solana reported trading volumes exceeding $7.1 billion on the same day, while the total value locked (TVL) on the network reached $8.8 billion, according to Artemis data.

Daily fee revenue also spiked, hitting $13.9 million and contributing to a three-month cumulative revenue of $6.9 million.

Solana vs. Ethereum

Solana had $6.762 billion in trading volume in the last 24 hours, almost double of Ethereum's (CRYPTO: ETH) $3.991 billion.

In the last week, the trading volume of Solana stood at $44.54 billion, way higher than Ethereum's $15.43 billion, according to DeFiLlama.

Solana ETF filings

Institutional interest in Solana is on the rise, with recent filings for spot Solana exchange-traded funds (ETFs) in the United States.

Bitwise Asset Management became the fourth firm to file for a Solana ETF, joining VanEck, 21Shares, and Canary Capital.

Solana's Surprising Strength In 2024

SOL is up 333% in 12 months. Brave New Coin Solana Market Cap data shows that SOL is the native cryptocurrency of the Solana blockchain and is one of the best-performing in the market currently in 2024, showing the quality of activities on the blockchain.

The SOL has jumped an astonishing 160% so far this year, breaching the $262 all-time high and setting consolidation around $260. The growth has positioned Solana to be one of the serious blockchains out there, hence pushing its market capitalization to about $121 billion.

Solana price飙升至新高，同时也是 2024 年迄今为止表现最佳的加密货币之一，这归功于其区块链活动的高品质。

迄今为止，SOL 已上涨 160%，突破 262 美元的历史新高并整合在 260 美元左右。这将 Solana 确立为主要区块链之一，其市值约为 1210 亿美元。

很大程度上，这种价格动能归因于基于 Solana 的项目日益增长的采用，尤其是在模因币和去中心化金融领域。该平台的低交易费用和可扩展基础设施吸引了开发人员和投资者。Solana 上的模因币活动尤其活跃，Pump.fun 等计划获得了大量关注。

仅这个生态系统现在就拥有超过 80 亿美元的市值，24 小时交易量为 43 亿美元，进一步凸显了区块链在市场中的主导地位。

机构兴趣也有助于提升 SOL 的价格。多家机构，如 Bitwise 和 VanEck，在美国提交了现货 Solana ETF 申请，这使代币在传统金融参与者中备受关注。随着监管法规的演变，预计 Solana 将进一步融入机构投资组合。此外，Robinhood 等散户平台也恢复了对 SOL 交易的支持，从而使其更广泛地进入市场。

考虑到区块链活动持续、采用不断增长以及加密货币整体有利的宏观环境，分析师们普遍看好其前景，预计到 2024 年底，其价格可能触及 400 美元。