Solana

Jupiter

Bonk

According to CoinGecko Research, the Solana network has emerged as the dominant blockchain ecosystem so far this year, securing 49.3% of global crypto investor interest in chain-specific narratives. The report attributes this surge in popularity to Solana’s price recovery, nearing its 2021 highs, along with the strong performance of ecosystem projects like Pyth and native memecoins such as dogwifhat.
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 Top 20 Most Popular Blockchain Ecosystems on CoinGecko 1. Solana 2. Ethereum 3. BNB Smart Chain 4. Cosmos 5. Avalanche 6. Arbitrum 7. Base 8. Sei 9. Sui 10. Polygon 11. TON 12. zkSync 13. Cardano 14. Polkadot 15. Metis 16. Fantom 17. Injective 18. PulseChain 19. Aptos 20. Hedera— CoinGecko (@coingecko) <a href="https://twitter.com/coingecko/status/1770514270004121662?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">March 20, 2024</a>
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On Monday, Solana’s price exceeded $200 for the first time in two years, marking its highest level since 2021. This is part of a broader trend that saw SOL’s price increase by over 700% in the past 12 months, with a 7% rise in the last 24 hours alone.&nbsp;
Moving forward, Coinbase’s market update highlighted approximately $11 billion worth of transactions on the Solana blockchain in a 24-hour period on Monday, driven largely by a variety of smaller tokens, including memecoins.
The Solana network has also seen significant activity on decentralized exchanges (DEXs) like Jupiter and Raydium, with traders focusing on memecoins such as Bonk and Slerf. This shift has allowed Solana-based DEXs to gain market share from Ethereum DEXs like Uniswap over the past four months. Automated market makers (AMMs) such as Raydium, Orca, and the Jupiter aggregator have been instrumental in this growth, facilitating the rapid creation and trading of new tokens.
Solana’s onchain volumes have increased significantly, with network fees reaching new heights. Data from <a href="https://www.theblock.co/data/on-chain-metrics/solana/total-fees-on-solana" target="_blank" rel="noopener noreferrer nofollow">The Block’s Data Dashboard</a> shows a surge in daily transaction fees on Solana, with total fees hitting an all-time high of $5.08 million on Monday. This increase in transaction fees, observed since early March, indicates a heightened level of network activity and engagement among users.
<figure class="wp-block-image size-large"><img fetchpriority="high" decoding="async" width="1200" height="359" src="https://www.cryptopolitan.com/wp-content/uploads/2024/03/screen-1200x359.png" alt="" class="wp-image-499863" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/03/screen-1200x359.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2024/03/screen-300x90.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/03/screen-768x229.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2024/03/screen-1536x459.png 1536w, https://www.cryptopolitan.com/wp-content/uploads/2024/03/screen.png 1600w" sizes="(max-width: 1200px) 100vw, 1200px">
 <figcaption class="wp-element-caption">Total fees on Solana | Source: The Block’s Data Dashboard.
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Solana tops global blockchain popularity in CoinGecko report

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