Solana Numbers the Last 7 Days.
Solana Numbers the Last 7 Days
This past year marked a comeback for Solana after it nearly became a cautionary tale in the wake of the notorious FTX collapse in late 2022. Fast-forward to today, Solana gained 86% in 2024 while soaring to a new all-time high of $263.84 on Nov. 23.
This price increase is confirmation that Solana crushed it last year. Its DEX trading volume rose to an impressive $626 billion in 2024, nearly catching up to Ethereum, which recorded $674 billion.
Meanwhile, Solana's meme coins have become a cultural and financial force, ranking fourth in the top 20 crypto narratives of 2024.
Additionally, institutional appetite for Solana is growing. Major asset manager Volatility has filed for three new Solana-based futures ETFs to trade on CFTC-regulated exchanges. In 2024 alone, four of the biggest names in the financial world—VanEck, 21Shares, Bitwise, and Canary Capital—submitted proposals for Solana ETFs in the U.S. The ball lies in the SEC's court as we look ahead to 2025.
A lot happened in the past week (and in 2024). Even coffee found its way to the Solana blockchain. Let's unpack this crypto juggernaut's latest milestones and unforgettable moments as we bring down the curtain to a remarkable year.
- Price: $205.51, up 8.42%
- Market cap: $99.23 billion
- DeFi TVL: $8846 billion
- Daily active addresses: >5.8 million
- 24H trading volume: $3.45 billion
Solana finally caught a break after a difficult few weeks. $SOL is up 8.36% in the past week, marking its first green week after two tough consecutive declines. The good news continues.
The number of daily active addresses on the network has exploded, soaring from 644.7K a year ago to an impressive 5.8 million at present, going as high as 9M wallets in October.
Solana made significant strides in DEX trading volume in 2024, reaching an impressive $626 billion—just a hair behind Ethereum's $674 billion.
On the weekly chart, Solana's DEX trading volume took a punch to the gut, falling 10.36% to $21.043 billion.
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How Did Solana Stack Up Against Its Competitors?
It was a challenging week, but the bulls eventually wrestled control from the bears as 2025 heralds a new era for crypto regulation. While $SOL’s recovery outpaced the competition, Bitcoin slipped over 2%, staying far from the $100K mark.
Ethereum remained steady, holding strong above $3,400, as XRP, which surged massively in the 2024 Q4 rally, was hot on Solana's heels with a solid 5% gain.
The much-anticipated altcoin season took a hit as the CMC Altcoin Season Index showed altcoins losing ground to Bitcoin. The index dropped to 47, tipping the scales toward a Bitcoin season and putting altcoin momentum on pause.
The DeFi landscape remained largely stable, with Solana holding firmly to its second spot and Tron maintaining third place. Meanwhile, Ethereum continues to call the shots at the top.
Solana Ecosystem the Last Week
The Solana ecosystem's market cap and trading volume more than doubled over the past year, fueled largely by the explosive rise of meme coins.
The Solana ecosystem had a stellar week, with most tokens erasing losses from the previous week.
- AI agent platform ai16Z led the pack with an outrageous 193% gain.
- In a major move, asset manager Grayscale added two Solana-based tokens, Jupiter (JUP) and Jito (JTO), to its diversified top 20 list of high-potential assets for Q1 2025. Both tokens saw gains, with JUP up 7.22% and JTO rising 2.04%.
- However, it was not all rosy, as there were also some notable casualties. Chainlink (LINK) and Helium experienced single-digit losses.
Top Gainers:
- ai16z (AI16Z): +193.05%
- io.net (IO): +17.79%
- GMT (GMT): +13.59%
- Raydium (RAY): +11.33%
- Wormhole (W): +10.07%
Top Losers:
- Helium (HNT): -5.91%
- ChainLink (LINK): -2.98%
- Pudgy Penguins (PENGU): -0.96%
Solana DeFi
Solana was one of the best-performing DeFi networks, with its total value locked (TVL) soaring 8.25%, reaching $8.95 billion. Hyperliquid led the charge, climbing nearly 25%, while Ethereum and Tron saw only marginal gains.
In December, Solana achieved a major milestone, adding $1 billion in stablecoin TVL, bringing its total stablecoin TVL close to $5 billion. Solana's Jito Protocol staking platform marked another win, generating over $100 million in monthly tips.
Solana Meme Coins
The year 2024 will be remembered as the year of Solana meme coins. Solana's meme coins captured 7.65% of investor mindshare, securing the fourth spot in the top 20 crypto narratives of the year. At the heart of this surge was Pump.fun, which saw over 4 million tokens launched on the platform.
While it's still early to declare that Solana's meme coins are officially "back," the weekly charts are showing promising signs, with green candles starting to appear. Pump.fun, Solana’s meme coin hub, generated $14 million in revenue on New Year’s Day.
However, the landscape wasn't without casualties, as some meme coins nosedived, tumbling over 20%.
Top Gainers:
- Gigachad (GIGA): +36.17%
- Goatseus Maximus (GOAT): +31.10%
- Popcat (POPCAT): +10.93%
Top Losers:
- FWOG (FWOG): - 25.97%
- Hehe (HEHE): -19.3%%
- Smoking Chicken Fish (SCF): - 12.27%%
- Billy (BILLY): -3.47%
Solana DePIN
- Solana's DePIN ecosystem had a mixed week, with some tokens seeing strong gains while losses remained moderate.
- Grass (GRASS) led the way with an impressive 27.7% increase, while io.net and Hivemapper (HONEY) also enjoyed solid double-digit gains.
- On the flip side, Nosana (NOS) and Helium (HNT) faced setbacks, joining the list of losers for the week.
NFTs
- Solana's reign as the top blockchain platform for NFT users is facing its most serious challenge yet. The gap between Solana (26.2%) and Ethereum (24.9%) has shrunk to a surprisingly thin margin.
- Ethereum's user base has remained largely unchained, with changes coming from down the ranks.
- Polygon and Base were big winners this week as they captured significant market share.
- This development suggests the NFT space could become increasingly competitive beyond the Solana-Ethereum rivalry.
Top 5 Solana News Stories
Grayscale Spotlights Two Solana Tokens in Q1 2025 Top Picks
Grayscale Research has added six tokens to its "Top 20" list of high-potential crypto assets for Q1 2025, citing strong growth prospects across multiple factors. Two Solana-based tokens, Jupiter and Jito, are included on the list.
Solana’s Stablecoin Surge in December
In December, Solana onboarded an additional $1 billion in stablecoins, primarily in USDC, bringing its total stablecoin TVL to nearly $5 billion.
Solana Meme Coins Rank Among Top Crypto Narratives
Solana's meme coins secured the fourth spot in crypto narratives in 2024, capturing nearly 8% of market interest.
Volatility Shares Files for Solana Futures ETFs
Asset manager Volatility Shares has filed for three new ETFs aimed at gaining exposure to Solana futures contracts on CFTC-regulated exchanges. However, these products are not yet available on the market.
Agridex Facilitates First Onchain Coffee Trade on Solana
Agridex, a Solana-based RWA platform, completed its first-ever on-chain coffee transaction, enabling a U.K. coffee brand to export premium coffee to South Africa.
What You Can Do Now
- Keep an eye on Jupiter and Jito this Q1 2025.
- Weigh your DeFi options as Solana’s stablecoin TVL soars past $5 billion!
- Ride the Solana meme coin wave, but make sure to protect your investments.
- Watch for Volatility Shares’ potential Solana futures ETFs!
- Uncover how Solana could reshape global commerce with on-chain transactions.
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