Market Analysis by Ariel Shapira covering: Bitcoin, ETH/USD, SOL/USD. Read Ariel Shapira's Market Analysis on Investing.com
By immediately implementing a much lighter proof-of-stake consensus model to validate transactions, Solana became a hub to quickly build and deploy decentralized apps within a low-cost and scalable ecosystem.
But this year, in particular, the spotlight has been focused on the Solana network, and for good reasons. The ecosystem has grown exponentially, recording a 151 percent rise in network activity from the beginning of the year through July. While the long-term stability of Solana-based memecoins is uncertain, the growth witnessed over the last year is at least partially a result of the ecosystem’s DeFi community expanding and playing a larger role within the broader crypto space.by total value locked . Earlier this month, Solana’s DEX aggregate turnover hit $9.4 billion over 7 days, outperforming all other blockchains’ DEX volumes except for Ethereum.
As the first Solana-based protocol established to minimize financial loss by reducing operation costs, stabble introduces mechanisms to promote capital efficiency and risk management for the network's infrastructure. However, the recent progress it’s made on multiple fronts solidifies itself in the eyes of both crypto advocates and institutional players. Investor trust should continue to grow as Brazil is set to approve the first-ever Solana ETF ahead of similar moves in the U.S. and U.K.
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