Solana

Marinade

Hive

Helium

Daily

Solana (SOL) turned out to be one of the <a href="https://news.todayq.com/solana-overtakes-bnb-is-eth-next/" target="_blank" rel="noopener noreferrer nofollow">biggest gainers of 2023</a> while setting the stage for further growth in 2024. SOL price recorded a massive surge of over 1000% year-to-date (YTD). A report depicted how Solana managed to turn the tables around in the last 90 days leading it to record a massive high. Solana’s expanding ecosystem 
As per OKX ventures, <a href="https://news.todayq.com/fastest-blockchain-here-is-the-list/" target="_blank" rel="noopener noreferrer nofollow">Solana’s blockchain</a> has been a magnet for new users and developers. It has fostered an environment of continuous development. The recent introduction of Solang, a platform enabling developers to write smart contracts in Solidity instead of Rust depicted its commitment.
Solana’s strategic focus on composability has established it as a leading choice for decentralized application (dApp) deployment. Noteworthy protocols, including Marinade Finance, Jito, Orca, and others, have found a home on the Solana blockchain. This progress has further solidified its position in the industry.
The DePIN ecosystem within Solana is experiencing robust growth. It has attracted projects like Helium and Hive Mapper, which have made the strategic move to Solana. This expansion underscores Solana’s appeal and versatility in accommodating diverse projects within its ecosystem. Impressive Core Data Metrics 
In the past 90 days, Solana recorded rapid growth in core data metrics:
– Fees surged by a whopping +118.9%.
– Daily Active Users witnessed an +395.7% increase.
– Daily fees saw huge growth as it soared from $18,900 to $48,700 (+157%) year-to-date.
– Developer count remained consistently between 70-90, reflecting a steady commitment to code development.
On-Chain Activity Highlights
– Transactions Per Second (TPS) in the past 24 hours averaged around 2,314.
– The SOL staked supply stands at approximately 398.55 million, with a staked ratio of 70.49%.
– The total SOL supply is around 565.57 million.
– Active addresses have consistently exceeded 400,000 in December, with total transactions consistently surpassing 200,000. What made the difference? 
Solana operates on a Proof of Stake (PoS) system, reinforcing network security through stakers and validators. The network incentivizes participants by issuing new tokens and allocating 50% of transaction fees as rewards.
Solana enforces an anti-inflation/deflationary monetary policy, with a gradual reduction in the inflation rate until it reaches 1.5% per annum. Moreover, the network burns 50% of transaction fees. Validator income primarily comes from SOL issuance and transaction fees.
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