What are the Projects the Solana Ecosystem Needs to Focus on When SOL Exceeds $145?
Solana, as a highly anticipated Layer1 token in the crypto market, broke through the key price point of $145 early this morning, attracting widespread market attention. This breakthrough not only marks a new high in SOL prices since 2022 but also indicates that the Solana ecosystem may experience a significant upward trend.
According to Bloomberg, well-known crypto investment company Pantera Capital is raising funds to purchase SOL tokens worth up to $250 million from the FTX exchange. The spread of this news may be one of the reasons why SOL prices have broken through key price ranges.
In addition, some projects in the Solana ecosystem have also shown strong upward momentum, such as Jupiter (JUP), further driving up the price of SOL tokens. At the same time, other tokens in the Solana ecosystem, such as RAY and MYRO, have also shown a significant upward trend, demonstrating the prosperity and vitality of the Solana ecosystem.
The author has compiled a list of popular projects in the Solana ecosystem for all Gate.io users to refer to.
Jupiter
In summary, Jupiter is currently the largest trading aggregation platform on the Solana chain, aiming to provide efficient, secure, and low-cost digital asset trading services.
The characteristics and advantages of Jupiter include:
High performance and low latency: Based on the Solana blockchain, Jupiter Exchange has the characteristics of high throughput and low latency, capable of processing thousands of transactions per second, providing users with a smooth and efficient trading experience.
Decentralized trading: Jupiter Exchange adopts a decentralized architecture, allowing users to conduct transactions directly on the platform through smart contracts without the need to trust third-party intermediaries, thus achieving safer and more transparent transactions.
Rich trading pairs: Jupiter Exchange supports trading pairs for all digital assets on the Solana chain, covering mainstream cryptocurrencies, stablecoins, and Meme coins, providing users with diverse trading options.
Recently, Jupiter announced the launch of Genesis voting, staking JUP to receive Launchpad fee rewards, resulting in a significant increase in JUP. JUP to Solana can be analogized to UNI to Ethereum.
Raydium
Raydium is an automated market manufacturer (AMM) and decentralized exchange (DEX) based on Solana. Raydium users can exchange in the liquidity pool, use order books for transactions, participate in liquidity mining, or collateralized RAY to participate in IDO through the Raydium AcceleRaytor launchpad. Unlike other AMM DEX, Raydium utilizes its pool liquidity to place orders on the central price limit order book of Serum DEX rather than isolating liquidity from different platforms.
BONK
Since its launch at the end of December 2022, BONK has continuously risen amidst questioning. At the time of writing this article, according to Gate.io data, the price has increased by nearly 10% in the past 24 hours and is now quoted at 0.000032 USDT. Since its launch, BONK has risen more than 500 times, with a maximum price of 0.000048 USDT and a minimum price of 0.000000086142 USDT.
According to official reports, Bonk has issued a total of 100 trillion BONK tokens, with 50% of the tokens airdropped to the Solana community, including developers of LamportDAO (which is the center of Solana builders), holders of NFT projects such as the Famous Fox Federation, and even DeGods who previously announced migration to other chains.
Looking at Bonk alone, some communities believe that whether it is the degree or timing of Solana’s ecosystem interaction, it is very similar to a long-planned “enclosure and self emergence” of Solana’s ecosystem and may also be one of the solutions used by Solana’s ecosystem developers to revitalize themselves.
WIF
WIF can be said to be a “self-made” project, and when it comes to what kind of narrative WIF is, one can only think of the woven woolen hat on Shiba Dog’s head. In late December 2019, various logos and images added to woolen hats became popular on Twitter as personal profile images among esports organizations and celebrities.
It was against the backdrop of no other stories that WIF achieved a ten thousand-fold increase in less than four months.
WEN
On January 25, Jupiter co-founder Meow announced on the X platform that it will test the issuance of Meme token WEN based on the latest LFG Launchpad platform launched by the project. WEN, which accounts for 70% of the total supply, will air millions of Solana wallet addresses, and the airdrop application will continue until January 29.
The meme attribute of WEN comes from the community’s desire and expectation for potential airdrops. Meow said that he received countless Wen tokens, Wen airdrops, and other questions almost every day in the past month. He even wrote a poem as a joke in response.
MYRO
MYRO’s Twitter profile is “Solana Founder’s Dog,” bringing a sense of meme culture to its face. MYRO is named after the pet of the founder of Solana. The MYRO team stated that they want to bring more attraction to Solana through Meme, increasing the on-chain trading volume of DEX, NFT, and tokens. They also donated $5,000 to the non-profit organization Dogs for Better Lives.
PYTH
The Python network is the leading oracle protocol on the Solana chain, which allows users to access prices of cryptocurrencies, real-world stocks, and helps them understand the latest prices of various assets, such as cryptocurrencies and stocks. This platform provides a special price indication service, which not only tells you the current price of a certain investment project but also provides a so-called “confidence interval,” which is a probability range for price accuracy.
PYTH’s investors include Jump Crypto and CMT Digital, among others, with a luxurious investment portfolio. PYTH to Solana can be analogized to LINK to Ethereum.
Also read - Zeebu Crosses $1 Billion Threshold in Telecom Transactions
