The fourth quarter of 2024 became even handed one of Solana’s greatest quarters, in accordance with a unusual Direct of Solana Q4 2024 document from market intelligence platform Messari. The document states that the Solana network recorded a plucky 213% earnings soar in Q4 2024, from $268 million to $840 million. Messari moreover printed that the greatest month became November, with the network receiving $367 million in earnings thru protocol applications.
Solana has increasingly change into the blockchain of option among crypto developers due to several perks, at the side of simplicity and scalability. Alongside with Ethereum, Solana has hosted several of the most contemporary crypto coins at insist even handed the greatest alternate strategies to invest in this twelve months. Enjoying the sturdy infrastructure of the blockchains, holders of those meme coins can fetch admission to greater scalability, quick multi-chain transactions, real-time crypto market analysis, man made intelligence integration, and plucky staking rewards.
Solana’s Fourth Quarter Figures
The Messari document comprises about a specifics that highlight Solana’s unusual enhance. As an illustration, Solana recorded a 64% quarter-on-quarter (QoQ) prolong in DeFi TVL, hitting $8.6 billion and overtaking the Tron network in November. For the quarter, decentralized alternate (DEX) Raydium had the top numbers, rising 86% QoQ and scooping a 24% market part, with $2.1 billion. Kamino came in 2nd, with a 21% market part and $1.8 billion in TVL.
Apparently, the third largest, Jupiter Perps, recorded the greatest QoQ soar in TVL, at 130%. Jupiter Perps ended the quarter with a 20% market part and $1.7 billion in TVL. On the opposite hand, MarginFi noticed the greatest loss in market part, at a 40% fall. The lending protocol moreover noticed a 4% QoQ TVL smash to $349 million.
For Solana DEXs, the typical quantity on the network hit $3.3 billion, rising 150% QoQ. In step with Messari, this became mostly due to a memecoin frenzy spurred by the US elections last twelve months. Messari moreover notes that meme coins linked to AI on the Solana blockchain gave the network a lot of traction. Raydium moreover scooped a 56% market part for common day after day quantity, which hit $1.9 billion after rising 242% QoQ.
Furthermore, stablecoins on Solana loved indispensable pumps, with the total stablecoin market cap rising 36% QoQ to $5.1 billion, the fifth largest for all blockchains. USDC became the greatest for the quarter, with a 75% market part after its Solana market cap jumped 53% QoQ to $3.9 billion. USDT became 2nd, with an 18% market part, and $912 million in market cap, indicating a 20% QoQ soar. NFT insist became moreover principal, rising 7% QoQ to $2.7 million. Tensor had the greatest market part within the quarter, increasing by 14% QoQ to $103 million.
Factors in Solana’s Settle on This Year
Overall, Solana has loved increased insist across the board, with extra predicted to scheme shut the blockchain. As an illustration, Solana Cell announced its fresh Seeker cell phone at last twelve months’s Token 2049 match. The phone promises several improvements, at the side of a bigger camera, longer battery existence, and improved memory. Expected to open shipping in mid-2025, there are already extra than 145,000 weird pre-orders for Seeker.
Any other command predicted to scheme shut the network is a SOL alternate-traded fund (ETF). Fair no longer too lengthy within the past, the United States Securities and Alternate Commission (SEC) acknowledged a SOL ETF software program from Grayscale Investments. The Cboe BZX Alternate has moreover resubmitted filings on behalf of Bitwise, 21Shares, Canary Capital, and VanEck, all having a stare to record SOL ETFs. The SEC have to now approve or suppose these applications this twelve months, that implies that a SOL ETF itemizing this twelve months is probably.
