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Solana, the blockchain network, is soaring high as it enters 2024, boasting an impressive 40.7 million average daily user transactions. The recently published Messari report, titled “State of Solana Q4, 2023,” unveils a tale of remarkable growth in various facets of the network.
In the last quarter, Solana achieved remarkable milestones across the board. Market capitalization saw an astonishing 423% increase, while the number of average daily fee payers surged by 102%. DeFi TVL experienced an impressive 303% growth, and daily DEX volume soared by an incredible 961%. However, the star of the show was the NFT market, with a phenomenal 359% increase in average daily NFT volume.
This astounding growth was closely tied to the success of SOL, Solana’s native token, which witnessed a staggering 1,106% year-on-year increase in market capitalization. SOL even outpaced ADA, USDC, and XRP, securing the fifth position among all cryptocurrencies.
Beyond the numbers, Solana’s developer ecosystem has been thriving, with over 2,500 monthly active developers and substantial improvements in tooling, developer experience, content quality, and programming language diversity. As Solana continues its impressive journey, it stands as a shining star in the blockchain universe, heralding a promising era.
