Bittime - Solana, a blockchain platform known for its scalability and speed, has established itself as one of the major players in the decentralized finance (DeFi) space.
Despite experiencing setbacks in 2021 due to the FTX exchange crash, Solana's DeFi ecosystem showed incredible resilience and bounced back with a bang in 2024.
This article will discuss some of the best Solana projects by considering several important factors.
Phantom Wallet
Phantom Wallet (Wallet), an independent digital asset manager, tops the list of popularity on the Solana blockchain based on the number of users.
Launched in January 2021, the application has become one of the most widely used digital wallets, not only on Solana, but also on various other blockchain networks.
Among SOL crypto asset users, Phantom Wallet is the wallet of choice, especially due to its easy staking process and intuitive user interface. This is proven by the number of monthly users reaching hundreds of thousands.
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Funding
Phantom has managed to raise significant funds in several funding rounds. Their most recent funding round in January 2022, according to CryptoRank, put the company's value at $1.2 billion with total funds raised at $109 million.
Previously, in July 2021, Phantom had completed another round of funding raising $9 million.
Jupiter
In the first month of 2024, Jupiter introduced their token, JUP, through an airdrop campaign that was highly anticipated in the crypto asset community. This launch shows the Jupiter team's dedication to respecting its users.
Jupiter's Extraordinary Achievements
- Exceeding OpenSea: By 2024, we will surpass OpenSea in several key metrics, demonstrating the rapid growth and popularity of our platform.
- Solana's Biggest Airdrop: Hosted one of the biggest airdrops on Solana, namely JUP tokens.
- Innovative Features: We introduced a variety of new, innovative features, such as limit orders, DCA and more.
Also read: Uniswap and Robinhood Connect Collaborate, Making Crypto Purchases Easier
Marinade Finance
Marinade Finance is one of the leading projects on the Solana blockchain, with Total Value Locked (TVL) reaching a fantastic figure of $1.5 billion as of April 2024.
Marinade shot to become a top Solana project by leveraging the liquid staking narrative, collaborating with renowned protocols such as Lido (Ethereum-based).
Plunging almost 90% TVL due to the bearish trend in the crypto market at the end of 2021-2023, Marinade recovered in 2024 and recorded billions in total value locked (TVL).
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Magic Eden
Magic Eden, launched in September 2021, became the premier NFT platform in the broader Solana ecosystem.
The platform not only facilitates the trading of non-fungible tokens (NFTs), but also provides a platform for creators to launch their own collections. Every NFT transaction at Magic Eden is subject to a certain fee.
Funding
- Successfully raised $130 million in funding with the company valuation reaching $1.6 billion in June 2022.
Technology
- Expanding support for Bitcoin Ordinals in March 2023, an innovation that allows data to be melted into Bitcoin.
Market Performance
- Surpassing OpenSea and Tensor platforms in terms of transaction volume by April 2024, making it one of the world's leading NFT marketplaces.
Also read: Anvil Protocol Launches on Ethereum Mainnet!
Dogwifhat (WIF)
Among the meme coins circulating on various blockchains, Dogwifhat (WIF) stands out as one of the most influential, not only on Solana but also overall.
Last March, WIF reached a market capitalization of billions of dollars and managed to penetrate the ranks of the top 50 crypto assets.
Render Network (RNDR)
Render Network (RNDR) is one of the leading projects in the Solana ecosystem. The platform aims to revolutionize the GPU cloud rendering process by presenting a decentralized marketplace.
Among DePIN projects, Render Network performed brilliantly in 2023 with the best performance. The protocol saw a significant surge in handling complex rendering tasks that year.
This surge was driven by advances in next-generation projection mapping and deep rendering projects, resulting in the largest volume of workloads since the Render Network's inception.
Today, Render Network is the largest DePIN project with a market capitalization exceeding $3.3 billion (as of April 2024).
Ondo Finance: Real-World Assets (RWA) on Solana
Ondo Finance is a decentralized financial platform that offers institutional grade financial products on top of the blockchain.
Ondo offers a legal and supervised trading platform for investors who wish to invest in tokenized assets.
Funding
Ondo Finance has successfully raised a total of $46.4 million in funding. This funding was obtained from two stages of fundraising, namely a public sale of $22.4 million and a Series A funding round of $24 million.
Jito: Solana Liquid Staking
Jito, one of the leading liquid staking protocols on the Solana blockchain, captivates its users with its ease of use and intuitive dashboard.
Jito Labs raised $12 million in funding in 2022. This Series A round was led by Multicoin Capital and Framework Ventures.
Kamino Finance
Kamino Finance stands out as one of the most interesting projects in the Solana ecosystem. Kamino, a startup founded in London, England in 2022, has become one of the leading projects in the Solana ecosystem.
This success was achieved thanks to the various decentralized financial services it offers, including providing liquidity, leverage and loans.
Kamino Funding
Kamino has successfully raised more than $10 million in funding. This funding comes from various well-known venture capital companies, such as Solana Ventures and Jump Capital.
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Mad Lads
Mad Lads has become one of the most massive non-fungible token (NFT) collections on the Solana platform. Released by the Coral company that focuses on developing the Solana framework, Mad Lads has attracted the attention of many NFT collectors and fans.
This collection contains 10,000 unique, charming avatars, featuring humanoid characters with various special attributes.
The rarity of this attribute determines its value, with rarer avatars generally commanding a higher price.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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