Solana

Marinade

Orca

Solend

<h4>Unbelievably bullish! Solana <a href="https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vanecks-base-bear-bull-case-solana-valuation-by-2030/" target="_blank" rel="noopener">will 100X</a> by 2030. That’s VanEck’s bold prediction for SOL.&nbsp;But SOL will not enjoy this 10,000% rally alone. Along with SOL, we will see not all but some of its ecosystem gems explode too.&nbsp;</h4> 
In fact, recently one of its ecosystem gems has been mimicking the <a href="https://www.coingecko.com/en/coins/solana" target="_blank" rel="noopener">SOL pumps</a>. Find out all about these Solana gems in this article. 
<h5>1) Solend (SLND)</h5> 
A recent <a href="https://twitter.com/solana/status/1714759282304880647" target="_blank" rel="noopener">Messari report</a> revealed that Solana saw a boom in DeFi activities in Q3-2023. And Solend was at the heart of this explosion. Solend is a decentralized lending and borrowing protocol on Solana. Solend plays an important role in Solana as it meets a huge financial need within the network. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 User engagement is on the rise for <a href="https://twitter.com/solendprotocol?ref_src=twsrc%5Etfw">@solendprotocol</a>, a DeFi lending and borrowing platform on the Solana blockchain, as evident here: <a href="https://t.co/3485QxVFeK">https://t.co/3485QxVFeK</a> 
 Notably, about 30% of Solend's user base consists of NFT enthusiasts who have contributed to over 72,000 SOL in secondary… <a href="https://t.co/Q1LHoAfuv3">pic.twitter.com/Q1LHoAfuv3</a> 
 — Nitin Shukla (@ergon50) <a href="https://twitter.com/ergon50/status/1698371962593214587?ref_src=twsrc%5Etfw">September 3, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Here’s a good start. Solend has attracted $100 million in deposits in just over a month after its launch. According to <a href="https://defillama.com/protocol/solend" target="_blank" rel="noopener">DeFillama</a>, It currently has a TVL of $74.13 million, ranking as the third highest on Solana. Solend uses an algorithmic system that determines interest rates and collateral requirements. This enables users to leverage crypto assets and earn interest. 
Also, Solend allows users to deposit assets into their accounts. In return, they can earn interest or collateralize these deposits to secure loans without prolonged underwriting procedures. Solend functions as a self-propelled, autonomous app. It streamlines the lending process using smart contracts. 
Solend charges protocol fees on loans. These fees are used to sustain its operations. They also contribute to an insurance fund for the platform. Solend’s Treasury also offers insurance coverage in case of hacks or exploits. 
<h5>Let’s Look at Some of the Protocol’s Numbers.</h5> 
Solend offers 60 assets that users can borrow and lend across 20 pools. Also, its native token, SLND, has a market cap of $32 million. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 TOP <a href="https://twitter.com/hashtag/SOLANA?src=hash&amp;ref_src=twsrc%5Etfw">#SOLANA</a> DAPPS BY WEEKLY VOLUME<a href="https://twitter.com/hashtag/Sharky?src=hash&amp;ref_src=twsrc%5Etfw">#Sharky</a> <a href="https://twitter.com/hashtag/Saber?src=hash&amp;ref_src=twsrc%5Etfw">#Saber</a> <a href="https://twitter.com/hashtag/Marinade?src=hash&amp;ref_src=twsrc%5Etfw">#Marinade</a> <a href="https://twitter.com/hashtag/Solend?src=hash&amp;ref_src=twsrc%5Etfw">#Solend</a> <a href="https://twitter.com/hashtag/Mercurial?src=hash&amp;ref_src=twsrc%5Etfw">#Mercurial</a> <a href="https://twitter.com/hashtag/Larix?src=hash&amp;ref_src=twsrc%5Etfw">#Larix</a> <a href="https://twitter.com/hashtag/MagicEden?src=hash&amp;ref_src=twsrc%5Etfw">#MagicEden</a> <a href="https://twitter.com/hashtag/OwlDAO?src=hash&amp;ref_src=twsrc%5Etfw">#OwlDAO</a> <a href="https://twitter.com/hashtag/Squads?src=hash&amp;ref_src=twsrc%5Etfw">#Squads</a> <a href="https://twitter.com/hashtag/PortFinance?src=hash&amp;ref_src=twsrc%5Etfw">#PortFinance</a> <a href="https://t.co/SxcEpClpGz">pic.twitter.com/SxcEpClpGz</a> 
 — PHOENIX <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1e6.png" alt="🇺🇦" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@pnxgrp) <a href="https://twitter.com/pnxgrp/status/1716105150098510220?ref_src=twsrc%5Etfw">October 22, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
About 30% of Solend’s user base are <a href="https://www.altcoinbuzz.io/?s=NFT" target="_blank" rel="noopener">NFT enthusiasts</a>. These users have contributed to over 72,000 SOL in secondary trading volume. And they have purchased 12,736 unique NFTs. In addition, Solend’s users are active in the DeFi trading market. They account for over $86 million in trading volume through Orca’s liquidity pools. These users are behind another $7.5 million through Lifinity V1 and V2. 
We believe DeFi will take center stage in the next bull run. Lending protocols are the heart of the DeFi market. They pump liquidity into the system. Solend has good potential in the lending space: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">It has good liquidity.</li> 
 <li style="font-weight: 400;" aria-level="1">It also supports a broad range of assets.</li> 
 <li style="font-weight: 400;" aria-level="1">Solend encourages <a href="https://www.altcoinbuzz.io/?s=lending+defi" target="_blank" rel="noopener">decentralized lending</a> on Solana.</li> 
 <li style="font-weight: 400;" aria-level="1">It accepts any SPL token as collateral for borrowing.</li> 
</ul> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 The success of Solend has brought a strong DeFi element to Solana. But as the whale issue laid bare, vulnerabilities still exist. Are you willing to take the risk? <a href="https://t.co/vtyo30h5JH">https://t.co/vtyo30h5JH</a> 
 — Cointelegraph (@Cointelegraph) <a href="https://twitter.com/Cointelegraph/status/1639549105302302721?ref_src=twsrc%5Etfw">March 25, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Solend integrates automated markets for high liquidity. It features multiple isolated and permission pools alongside a global liquidity pool. Solend has all it takes to succeed as a lending protocol. 
<h5>2) Marinade Finance (MNDE)</h5> 
SOL pumped 70% in the last 30 days and <a href="https://www.coingecko.com/en/coins/marinade" target="_blank" rel="noopener">MNDE</a> pumped 61% during the same duration. Does that mean MNDE will also be 100X by 2030? I am not sure about that but it is for sure a high-potential project and that’s why it leads Solana in terms of TVL. With a TVL of $314.31 million, Marinade accounts for more than half of Solana’s $380.18 million. What’s special about this project? 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Marinade Earn Season 1 is here! 
 Get MNDE for staking SOL for mSOL or Marinade Native. 
 And earn even more <a href="https://twitter.com/search?q=%24MNDE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MNDE</a> by referring others to the new Marinade Native. 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"> Here are the details: <a href="https://t.co/wXPUP2twjC">pic.twitter.com/wXPUP2twjC</a> 
 — Marinade (@MarinadeFinance) <a href="https://twitter.com/MarinadeFinance/status/1703786242436186452?ref_src=twsrc%5Etfw">September 18, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<a href="https://marinade.finance/" target="_blank" rel="noopener">Marinade Finance</a> is a non-custodial liquid staking protocol on Solana. The project seeks to provide a secure way to stake SOL tokens across more than 130 top Solana validators. Marinade Finance was launched in 2021 during a Solana &amp; Serum Hackathon. One of its core features is its ability to unlock liquidity while gathering staking rewards. 
Users who stake SOL will receive a liquid token, $mSOL, in return. The <a href="https://www.coingecko.com/en/coins/marinade-staked-sol" target="_blank" rel="noopener">mSOL token</a> appreciates in value via staking rewards. Users can also use this token throughout the Solana ecosystem. Thanks to this flexibility, users can participate in DeFi or convert to SOL. Marinade Finance recently launched a service called Marinade Native. And this has accounted for some of its recent growth. 
It designed the Marinade Native to solve the smart contract risk associated with swapping $SOL for $mSOL while preserving an expected yield of approximately 7%. Marinade Native <a href="https://twitter.com/MarinadeFinance/status/1717932577053426019" target="_blank" rel="noopener">combines</a> features from liquid and direct staking. This makes it a less risky investment for stakeholders. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 3/ 
 Liquid staking continues to be the leading sector on Solana, where Marinade Finance has led the pack. 
 Marinade's liquid staking solution makes up 40% of SOL TVL and maintains double the market share seen by Lido. The team has also teased a potential MNDE buyback mechanism. <a href="https://t.co/8yyRVfcuXh">pic.twitter.com/8yyRVfcuXh</a> 
 — Blockworks Research (@blockworksres) <a href="https://twitter.com/blockworksres/status/1666832849209786368?ref_src=twsrc%5Etfw">June 8, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Marinade recently stopped its UK users from accessing its platform due to the FCA’s policies. So far, nothing has changed about its dominance over Solana. 
<h5>3) Orca (ORCA)</h5> 
<a href="https://www.orca.so/" target="_blank" rel="noopener">ORCA</a> is a Solana-based DEX. It currently ranks #5 for Solana TVL. According to <a href="https://defillama.com/protocol/orca" target="_blank" rel="noopener">DeFiLlama</a>, its current TVL is $52 million. ORCA has a community approach that has made buying crypto easier for users. It is also an automatic market maker (AMM). 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Top Solana Projects with Highest TVL Last 7 Days 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f947.png" alt="🥇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24MSOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSOL</a> <a href="https://twitter.com/MarinadeFinance?ref_src=twsrc%5Etfw">@MarinadeFinance</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f948.png" alt="🥈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/jito_sol?ref_src=twsrc%5Etfw">@jito_sol</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f949.png" alt="🥉" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24SLND&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SLND</a> <a href="https://twitter.com/solendprotocol?ref_src=twsrc%5Etfw">@solendprotocol</a><a href="https://twitter.com/search?q=%24LDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LDO</a> <a href="https://twitter.com/LidoFinance?ref_src=twsrc%5Etfw">@LidoFinance</a><a href="https://twitter.com/search?q=%24ORCA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ORCA</a> <a href="https://twitter.com/orca_so?ref_src=twsrc%5Etfw">@orca_so</a><a href="https://twitter.com/marginfi?ref_src=twsrc%5Etfw">@marginfi</a><a href="https://twitter.com/search?q=%24RAY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RAY</a> <a href="https://twitter.com/RaydiumProtocol?ref_src=twsrc%5Etfw">@RaydiumProtocol</a><a href="https://twitter.com/Realms_DAOs?ref_src=twsrc%5Etfw">@Realms_DAOs</a><a href="https://twitter.com/DriftProtocol?ref_src=twsrc%5Etfw">@DriftProtocol</a><a href="https://twitter.com/01_exchange?ref_src=twsrc%5Etfw">@01_exchange</a><a href="https://twitter.com/DefiLlama?ref_src=twsrc%5Etfw">@DefiLlama</a> <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw">#Solana</a> <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> <a href="https://t.co/DmPLmVo521">pic.twitter.com/DmPLmVo521</a> 
 — Solana Daily (@solana_daily) <a href="https://twitter.com/solana_daily/status/1717523199905120503?ref_src=twsrc%5Etfw">October 26, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
ORCA facilitates decentralized trading with user-contributed “liquidity pools”. It also uses a strong price discovery mechanism. The <a href="https://www.coingecko.com/en/coins/orca" target="_blank" rel="noopener">$ORCA coin</a> powers the entire Orca DEX. It taps into Solana’s strengths to perform quick and cost-efficient transactions.&nbsp; 
Also, Orca has impressive rewards for LP holders. Users who provide liquidity can claim 0.3% in transaction fees and marine-themed NFTs. Orca leverages a feedback loop to listen to the concerns of users. It updates its features to suit this feedback. So, ORCA runs an intuitive protocol that offers a straightforward experience for both new and experienced users.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 6/ As Solana Breakpoint 2023 approaches, Orca eagerly anticipates the opportunity to engage with the vibrant community and continue growing within the dynamic Solana ecosystem! 
 Read Orca's full Treasury Report #4 here:<a href="https://t.co/dPucNPTZUI">https://t.co/dPucNPTZUI</a> 
 — Orca <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2600.png" alt="☀" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@orca_so) <a href="https://twitter.com/orca_so/status/1717391293159227478?ref_src=twsrc%5Etfw">October 26, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
ORCA’s ease of use is its biggest appeal. As Solana continues to grow in adoption, ORCA is well-positioned as a DEX for people to buy crypto.&nbsp; 
<a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="wp-image-124240 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" alt="" width="681" height="84" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" sizes="(max-width: 681px) 100vw, 681px"></a> 
<div class="youtube-embed" data-video_id="HXsSBPkq53g">
 <iframe title="EXPLOSIVE Solana GEMS!! Don't Miss These 3 SOL Altcoins" width="696" height="392" src="https://www.youtube.com/embed/HXsSBPkq53g?feature=oembed&amp;enablejsapi=1" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div> 
Disclaimer The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. 
The post <a rel="nofollow" href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/explosive-solana-gems-dont-miss-these-3-sol-altcoins/">EXPLOSIVE Solana GEMS!! Don’t Miss These 3 SOL Altcoins</a> appeared first on <a rel="nofollow" href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

EXPLOSIVE Solana GEMS!! Don’t Miss These 3 SOL Altcoins

Altcoin Buzz

Other articles published on Oct 31, 2023

Bitcoin Exchange Bidget Delisted This Altcoin, Which It Listed 4 Days Ago, Due to Suspicious Tran...

Turkey's Cryptocurrency Regulatory Framework Expected by 2024

The highlights of today’s cryptocurrency news

Upland and Own the Doge DAO Unite for a Legendary International Doge Day Celebration

HEX Price Prediction: November 2023

Bitcoin vs. Gold: Mapping current trends onto historical data

Join our free newsletter for daily crypto updates!