{"id":232644,"date":"2021-04-22T02:00:00","date_gmt":"2021-04-21T23:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/solana-sol-hits-new-highs-as-dapps-defi-and-stablecoins-join-the-network\/"},"modified":"2021-04-22T02:00:00","modified_gmt":"2021-04-21T23:00:00","slug":"solana-sol-hits-new-highs-as-dapps-defi-and-stablecoins-join-the-network","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/solana-sol-hits-new-highs-as-dapps-defi-and-stablecoins-join-the-network\/","title":{"rendered":"# Solana (SOL) hits new highs as DApps, DeFi and stablecoins join the network"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af6c8f431347\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af6c8f431347\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/solana-sol-hits-new-highs-as-dapps-defi-and-stablecoins-join-the-network\/#Fast_transactions_and_low_fees_entice_developers\" >Fast transactions and low fees entice developers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/solana-sol-hits-new-highs-as-dapps-defi-and-stablecoins-join-the-network\/#Simple_yield_opportunities_attract_DeFi_users\" >Simple yield opportunities attract DeFi users<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Solana (SOL) hits new highs as D<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a>s, DeFi and stablecoins join the network <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>The arrival of institutional investors and the rise of decentralized finance (DeFi) has been an incredible boon for the entire cryptocurrency sector but it has also highlighted a number of persistent limitations that many blockchain networks encounter when faced with surges in activity and the need to scale.\u00a0\u00a0<\/p>\n<p>High fees and slower transaction times on the Ethereum (ETH) network have left the door open for new layer-1 solutions to emerge, and Solana (SOL) is one such project that has been gaining traction lately. <\/p>\n<p>Data from Cointelegraph Markets and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/SOLUSDT\/\">TradingView<\/a> shows that the price of SOL has increased 195% over the past month, rallying from a low of $12.19 on March 26 to a new all-time high of $36.10 on April 19th on a record $1.4 billion in trading volume. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/0269bd0a-fd56-427d-836a-9e3cce528e53.png\"><figcaption style=\"text-align: center;\"><em>SOL\/USDT 4-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/SOLUSDT\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Similar to how Ethereum rose to prominence in 2017, Solana&#8217;s strong performance in the past month was sparked by the launch of multiple projects on the SOL blockchain with everything from legitimate DeFi protocols to pump and dump airdrops that brought speculators to Solana&#8217;s exchange.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Amazed by the growth of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/solana?ref_src=twsrc%5Etfw\">@solana<\/a> ecosystem. <\/p>\n<p>Looking forward to seeing <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mangomarkets?ref_src=twsrc%5Etfw\">@mangomarkets<\/a>  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PsyOptions?ref_src=twsrc%5Etfw\">@PsyOptions<\/a>  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/staratlas?ref_src=twsrc%5Etfw\">@staratlas<\/a>  <\/p>\n<p>And congratulations to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mangomarkets?ref_src=twsrc%5Etfw\">@mangomarkets<\/a> , what\u2019s an outstanding dex experience on mainnet-beta <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Ewr8VbM4VG\">pic.twitter.com\/Ewr8VbM4VG<\/a><\/p>\n<p>\u2014 Solanians \u2600\ufe0f (@solanians_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/solanians_\/status\/1374317108541067266?ref_src=twsrc%5Etfw\">March 23, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fast_transactions_and_low_fees_entice_developers\"><\/span>Fast transactions and low fees entice developers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One of the biggest draws for the Solana network is its claim of being able to process 65,500 transactions per second (TPS),\u00a0which is significantly faster than Ethereum\u2019s current average of 18.3. <\/p>\n<p>The network\u2019s ability to handle a larger load has also made the platform a cross-chain destination for projects like Civic (CVC) and the popular stablecoins USD Coin (USDC) and Tether (USDT). <\/p>\n<p>DeFi platforms like Raydium and Serum have launched on Solana and there is a growing list of projects in the process of transitioning to the network.<\/p>\n<p>Prospects for the network received another boost in early April when the Solana-based Sollet wallet <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/solana\/status\/1384927881407705089\">released<\/a> its Chrome extension that offers the Solana ecosystem functionality that mirrors the way MetaMask works for Ethereum. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Simple_yield_opportunities_attract_DeFi_users\"><\/span>Simple yield opportunities attract DeFi users<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Solana protocol utilizes a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain, which makes it easy for token holders to earn a yield on their SOL tokens while also participating in the network. <\/p>\n<p>The number of cryptocurrency wallets supporting SOL is also a sign that the project is garnering more attention. To date, Exodus, Ledger and Blockfolio are some of the more prominent wallets that offer support for the token.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Preparing for the rise of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/solana?ref_src=twsrc%5Etfw\">@solana<\/a>  <\/p>\n<p>Top wallets support SPL token in the ecosystem <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/3b2kmvUCwJ\">pic.twitter.com\/3b2kmvUCwJ<\/a><\/p>\n<p>\u2014 Solanians \u2600\ufe0f (@solanians_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/solanians_\/status\/1380108367964729346?ref_src=twsrc%5Etfw\">April 8, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A recent <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/phantom\/status\/1382014430188167171\">integration<\/a> with the Phantom wallet has also brought fresh energy to the project as it will enable the creation of a robust NFT ecosystem on Solana. This brings one of the hottest sectors of the crypto market to the network.\u00a0<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/solana-sol-hits-new-highs-as-dapps-defi-and-stablecoins-join-the-network\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Solana (SOL) hits new highs as DApps, DeFi and stablecoins join the network &#8221; The arrival of institutional investors and the rise of decentralized finance (DeFi) has been an incredible boon for the entire cryptocurrency sector but it has also highlighted a number of persistent limitations that many blockchain networks encounter when faced with&#8230;<\/p>\n","protected":false},"author":1,"featured_media":232645,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvMWYxYmVlM2QtYzgyMS00MjdiLThlNjItZDJhZjA2NjFiMDgzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[84148,74867,88119,74894,74863,74860,75239,74868,75036,95118,92498,73785],"class_list":["post-232644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-airdrop","tag-altcoin","tag-altcoin-watch","tag-blockchain","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-decentralized-finance","tag-defi","tag-ico","tag-nft","tag-solana","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/232644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=232644"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/232644\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/232645"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=232644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=232644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=232644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}