After being declared dead following FTX’s crash, Solana rose from the ashes and made significant progress. Cryptocurrency researcher Hitesh Malviya delves deeper into everything surrounding $SOL, covering Solana’s key data metrics, token economics, on-chain activity, DeFi data, NFT data, gaming data, recent milestones, and future adoption.
Key Metrics: Price $21.47; Market Cap $8.71B; FDV $12B; ATH $259.6; Currently 91.7% below ATH; Total Supply 551M; Circulating Supply 401.9M (72.83%); Annual Supply Inflation Rate 5.22%; Staking Ratio 84.2% (includes locked staking). Token Economics: SOL supply inflation will decrease by 15% annually, with a future target of 1.5%. SOL is used for staking, gas and governance tokens, and also as collateral in DeFi ecosystem.
On-Chain Insights: Fees (30 days) $994K; Fees (Annual) $12.1M; Daily Active Users (Avg 30 days) 108.43K; Active Developers (Avg 30 days) 91; Code Commits (30-day sum) 832. Alameda Lockup Shares: Alameda currently holds a lockup of nearly 43 million SOL, which represents over 10.8% of circulating supply. Alameda’s lockup equity supply will be liquidated rapidly pursuant to court orders relating to ongoing bankruptcy proceedings.
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DeFi on Solana: TVL $287.55M; Top category is liquidity mining; Top protocols are Marinade Finance, Lido, Solend; TVL change percentage in past 30 days +4%; TVL change percentage in past 90 days +3%; Market share 0.58%. NFTs on Solana: Sales Volume (30 days): $71.8M; Top marketplaces are MaginEden, Tensor; Popular collections (30 days): Mad Lads, SMB Barrels; Market share 6%; Sales volume change % (30D) +74%.
Recent Milestones: Helium moves to Solana; Solana launches XNFTs and BackBlockingck Wallet; Launches Solana Sage; Liquidity Mining launched on Solana. Future Adoption: Blockingradigm is developing a Solana client called “Firedancer”, which can increase throughput by 100x; Solana is an ideal blockchain network for hosting next-generation web3 games, and we can expect promising game releases. Investment Risks: Solana has built a network, community, and ecosystem. But $SOL remains a speculative asset, as it is also marked as a security by the US SEC. You should be aware of Alameda’s lockup equity supply, which may disrupt prices when released. [Original text in English]