Solana has retained its position as the most popular blockchain ecosystem in 2024, commanding 38.8% of global investor interest, according to a recent CoinGecko report. While Solana’s ecosystem dominance has faced a slight decline, dropping 10.5% since Q1, it continues to outperform competitors with its low gas fees, rapid transaction speeds, and the viral success of Pump.fun, a meme coin platform.
This dominance has propelled SOL, Solana’s native token, to new heights, trading at $241.11—just 7.62% below its all-time high of $260, achieved in November 2021. SOL has surged 9.74% in the past week, 50.05% over the past month, and an astounding 312.01% since November 2023, outperforming both Bitcoin (BTC) and Ethereum (ETH) during the same period.
Solana recently surpassed BNB to become the fourth-largest digital asset, with a market cap of $114.39 billion. However, its trading volume dipped to $8.05 billion, causing a slight price drop of 0.71% in the past 24 hours.
