Price: $0.38332 0.3777%
Market Cap: 56.31B 1.7268%
Volume (24h): 8.07B 0.4%
Dominance: 1.7268%
Price: $0.38332 0.3777%
Market Cap: 56.31B 1.7268%
Volume (24h): 8.07B 0.4%
Dominance: 1.7268% 1.7268%
  • Price: $0.38332 0.3777%
  • Market Cap: 56.31B 1.7268%
  • Volume (24h): 8.07B 0.4%
  • Dominance: 1.7268% 1.7268%
  • Price: $0.38332 0.3777%
Home > Information news > Solana (SOL) Shoot 9% On Franklin Templeton Endorsement

Solana (SOL) Shoot 9% On Franklin Templeton Endorsement

Release: 2024/05/04 16:36 Reading: 923

Original author:CoinGape

Original source:https://coingape.com/solana-sol-shoot-9-on-franklin-templeton-endorsement/

Solana (SOL) Shoot 9% On Franklin Templeton Endorsement

Solana's Accelerated Adoption Lauded by Franklin Templeton

Investment asset management firm Franklin Templeton published a report detailing Solana's (SOL) accelerated adoption over time. With the validation from the firm, Solana has jumped by more than 9% to $138.46.**

Franklin Templeton Praises Solana's Resilience

Solana's survival and resilience after the unfortunate implosion of the FTX cryptocurrency exchange were noted. The cryptocurrency suffered a significant setback in 2022 but has since demonstrated commendable resilience.

Franklin Templeton highlighted that Solana has successfully captured a substantial portion of crypto activities from 2023 through 2024.

Despite various challenges, including network congestion faced in March 2024, Franklin Templeton remains optimistic about the protocol's prospects. It suggests that Solana's growth is likely to continue, particularly as it is well-positioned for the next wave of crypto adoption.

In the long run, this could contribute to SOL establishing its dominance as the third major crypto asset after Bitcoin (BTC) and Ethereum (ETH). Franklin Templeton observed that Solana's activity and adoption peaked in Q4, 2023, following airdrops like Jito and Pyth within its ecosystem.

Memecoin Activities Flourish on Solana

These airdrops contributed to the inflows witnessed by the Solana ecosystem during that period. They had a significant impact on SOL and other Solana-based tokens, especially memecoins. Notably, the Solana ecosystem has seen a considerable share of the memecoin activities that have recently taken place in the crypto landscape.

Bonk (BONK) and Dogwifhat (WIF) were among the top-performing memecoins, securing multiple listings on major trading platforms such as Revolt. The Solana ecosystem has witnessed the creation of numerous crypto assets on its network, with their market cap reaching unprecedented levels.

Similarly, the network has recorded notable increases in its total fees and decentralized exchange (DEX) volume. However, it still boasts one of the lowest fees, lowest transaction latency, and highest data throughput compared to other networks.

Franklin Templeton's Optimism for Solana's Future

Franklin Templeton anticipates the next wave of innovations in the crypto landscape to emerge through Solana. These include the Decentralized Physical Infrastructure Network (DePIN), micropayments, compressed Non-fungible tokens (NFTs), and Centralized Limit Order Book (CLOB).

Overall, the investment manager expresses optimism about the Solana ecosystem, despite the congestion issues it is gradually resolving.

The post Solana (SOL) Shoots 9% on Franklin Templeton Endorsement appeared first on CoinGape.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.