Solana is the macOS of blockchains, according to a report by Pantera Capital

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Cryptodnes2024/06/22 00:29

By:Cryptodnes

According to a report by Pantera Capital, over 60% of the increased volume of decentralized exchanges (DEX) in May was on the Solana blockchain.

Panther explain this growth with the unique architecture of Solana , likening it to the MacOS of blockchain.

Solana's share of DEX volume has grown from 0% in early 2021 to 24% as of May 2024. Pantera emphasized that Solana's integrated approach, similar to the combination of hardware and software in Apple's macOS, has resulted in this growth by improving productivity and attracting more activities.

Active network addresses jumped from 14,000 in October 2020 to nearly 1.3 million by May 2024. As a result, Solana's priority fees have increased sharply from under $100,000 per month in mid-2023 to over $60,000,000 in March 2024. .

The progress of crypto in recent years in the eyes of the founder of Ethereum

Solana's architecture has also made it a favorite for developers of meme cryptocurrencies and decentralized infrastructure projects. Since January, the network has seen an increasing number of new tokens, surpassing chains such as BNB Faucet SmartChain, Ethereum и Polygon . By May 2024, Solana accounted for 85% of all new DEX tokens, compared to 50% the previous year.

This performance has had a significant impact on Solana's price, which has increased over 723% in the past year, trading at $123 at the time of writing.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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