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Solana, Home of The Best Meme Coins, Turns Five Years Old

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Solana celebrated its fifth birthday yesterday. In honour of the event, we determined to check out this blockchain’s journey to turning into a number one platform and the house of the perfect meme cash.

Solana was launched on March 16, 2020, by Solana Labs CEO Anatoly Yakovenko and Solana co-founder Raj Gokal and his group. That was proper across the time the whole world was pressured into lockdown by the COVID-19 pandemic.

Some 408B transactions and near $1T in buying and selling on DEXs later, right this moment Solana is second solely to Ethereum when it comes to complete worth locked, at $6.85B.

Solana was designed to handle the scalability points that plagued the likes of the Bitcoin and Ethereum blockchains. And, over the previous 5 years, it has been extensively adopted in areas reminiscent of DeFi, NFTs, gaming, Web3 functions, and – after all – because the launchpad for among the greatest meme cash.

Solana's performance over the past five years
Supply: CoinGecko

The high-speed, low-cost Layer 1 blockchain has had its fair proportion of ups and downs over the previous 5 years.

On the peak of the 2020–2021 bull run, Solana’s market cap surged to $77.8B. Nevertheless, it plummeted by an enormous 96% in late 2022. The Solana value fell to $8.30, and its market cap bottomed out at round $3B.

But, Solana has confirmed fairly the comeback child, thanks largely to the meme coin craze. Final yr, the meme coin market exploded, and its collective market cap grew by 330%, in keeping with CEX.io.

Solana’s spectacular velocity (as much as 65K transactions per second), low prices, robust neighborhood, and developer-friendly surroundings have made it the go-to blockchain for the perfect altcoins, giving it a substantial edge over opponents.

Solana Again On Observe For A Good Yr Forward

As Solana celebrates its fifth birthday, it appears good issues are in retailer for this blockchain. For one, US President Donald Trump lately introduced $SOL will likely be included within the nation’s proposed strategic reserve.

US President Donald Trump announces $SOL will be included in the strategic reserve

Institutional gamers are acknowledging Solana’s robust place – with the likes of asset supervisor BlackRock on the point of launching $SOL spot ETFs.

Solana additionally has two protocol upgrades within the pipeline. The primary, SIMD 0123, proposes a system whereby Solana’s precedence charges go to validator stakers. This could enhance staking rewards, block off-chain transactions, and enhance on-chain processing.

SIMD 0228, in the meantime, is a proposal to alter how new $SOL tokens are launched, in a bid to make token issuance extra balanced and environment friendly. As an alternative of a hard and fast schedule, staking rewards would alter based mostly on how many individuals are staking.

The Solaxy Presale Answer To Solana’s Pitfalls

Solana’s ecosystem continues to flourish within the cryptocurrency and Web3 panorama, proving that velocity, effectivity, and innovation can co-exist in a decentralized world. That mentioned, the Solana blockchain remains to be recognized for site visitors congestion and failed transactions.

To the rescue comes Solaxy ($SOLX), the meme coin behind the world’s first-ever Solana Layer 2 ecosystem.

$SOLX goals to construct on Solana’s good factors (velocity and low transaction prices) by boosting scalability and including much more velocity.

As an Ethereum-based token, Solaxy will bridge Solana and Ethereum, which means $SOLX holders will be capable of capitalize on the energy of those two blockchain powerhouses.

The Solaxy presale solution will unleash Solaxy's potential

That is thrilling information for the crypto world, and buyers are taking be aware. The Solaxy presale has raised $26.7M because it launched in December final yr.

Proper now, 1 $SOLX prices $0.0016666 (with 153% staking rewards). Being a presale, nonetheless, it gained’t keep that low for lengthy.

In case you’re excited about investing in what’s probably a recreation changer for Solana, the Solaxy whitepaper is an efficient place to begin, as is the $SOLX X channel. Our information to purchasing $SOLX will stroll you thru the steps for those who determine that is the funding for you.

Bear in mind to do your individual analysis, as we’re not monetary advisers. That mentioned, it is going to be thrilling to see what’s in retailer for the Solana blockchain if the final 5 years are something to go by.