Solana has accomplished a whole calendar yr with out a block manufacturing failure.
This marks a notable enchancment in community stability, particularly given its previous efficiency points.
On Feb. 6, Helius Labs CEO Mert Mumtaz acknowledged this achievement, emphasizing that the community had maintained uninterrupted operation for a whole yr. He additionally famous that Solana had prevented performance-related failures for almost two years.
Since its launch in 2020, Solana has skilled a number of durations of instability. The primary important disruption got here in early 2022, adopted by intermittent outages over the next two years. Nevertheless, the community’s current efficiency suggests improved resilience and scalability.
Solana’s ecosystem development
Solana’s capability to take care of uptime follows a surge in adoption and financial exercise.
A This autumn 2024 report from Messari revealed that the community’s complete app-generated income jumped 213% quarter-over-quarter (QoQ), reaching $840 million.
In accordance with the report, a number of key tasks drove this growth. Pump.enjoyable recorded $235 million in income (up 242% QoQ), adopted by Photon with $140 million (278% enhance), Raydium at $74 million (268% enhance), BullX at $73 million (260% enhance), and Trojan at $63 million (187% enhance).
The DeFi sector in Solana has additionally skilled fast growth. Complete worth locked (TVL) climbed 64% QoQ to $8.6 billion, surpassing Tron and positioning Solana because the second-largest DeFi ecosystem. When measured in SOL, TVL rose 28% to 46 million SOL.
Solana’s every day spot DEX buying and selling quantity soared by 150% QoQ, averaging $3.3 billion. This surge adopted a renewed curiosity in meme coin buying and selling after the 2024 US elections and a rising concentrate on AI-driven belongings.
The community’s stablecoin ecosystem additionally expanded. Solana’s complete stablecoin market cap grew 36% QoQ to $5.1 billion, making it the fifth-largest blockchain for stablecoin exercise.
Whereas PYUSD’s circulating provide declined by 47% to $175 million, USDC remained dominant, rising its market cap on Solana by 53% QoQ to $3.9 billion and holding a 75% market share.
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