In Q3 2024, institutional investment in Solana-based applications witnessed a significant surge.
A total of 29 decentralized applications (dApps) raised $173 million—over 54% more than the previous quarter and the highest since mid-2022, despite a 37% drop in funding rounds, according to Messari.
This increase aligns with Solana outpacing Ethereum in daily fees, generating over $2.54 million compared to Ethereum’s $2.07 million.
The number of fee-paying users on Solana rose to 1.9 million, a 109% increase quarter-over-quarter, while new fee payers jumped 430% to 1.3 million. However, daily non-voting transactions fell by 12% to 62 million. Solana’s average transaction fees increased by 6% to about $0.023.
By the end of Q3, Solana was the third-largest blockchain for tokenized treasuries, with $123 million tokenized, behind Stellar’s $422 million and Ethereum’s $1.6 billion.
The outlook for further growth is bolstered by Franklin Templeton planning a money market fund on Solana and Societe Generale set to launch a euro-denominated stablecoin, which will expand its crypto offerings.
Solana surged 5.6% to reclaim the $200 level for the first time since February, fueled by a confluence of bullish technical, fundamental, and institutional catalysts.
CoinMarketCap’s momentum algorithm is flashing strong upside signals for several fast-moving tokens. WEMIX, Drift, and OFFICIAL TRUMP Coin top today’s trending list, each driven by unique catalysts—from GameFi upgrades and DeFi volume surges to political tailwinds.
According to QCP Capital’s latest report, altcoin season may have finally arrived.
Solana (SOL) has gone up by 35% in the past 30 days as multiple tailwinds have lifted the price of this top altcoin above the $190 level. A breakout above this level favors a bullish Solana price prediction as it could anticipate a big move ahead, especially at a point when market conditions are favorable. […]