Top Solana Projects to Watch Out For
After the FTX collapse, Solana faced a challenging situation. Its SOL token reached an all-time high of $260 two years ago but plummeted below $10 in December 2022. However, despite these setbacks, Solana has managed to navigate through rough waters and may perform well in the next bull run.
1) Solend (SLND)
The Solend Protocol is a lending platform on the Solana blockchain. With a TVL of $43.4 million, it is currently the third-largest protocol on Solana. It offers 60 assets for borrowing and lending across 20 pools. The SLND market cap stands at $16.8 million.
Source: Solend dashboard
2) ORCA
ORCA is a decentralized finance platform built on Solana that aims to provide a seamless DeFi experience. It allows users to provide liquidity to various protocols, earn rewards through staking, and participate in governance decisions. ORCA has a TVL of $35.73 million, making it the fourth-largest protocol on Solana.
3) Lifinity
Lifinity is a Solana-based project focused on NFT creation and management. It offers tools for minting and trading NFTs, providing artists and collectors with a user-friendly interface and low transaction fees. Lifinity’s TVL is $4.17 million.
Hot Take: The Resilience of Solana
Solana has shown resilience despite facing challenges in the past. It has weathered the storm and continues to attract promising projects. With Solend, ORCA, and Lifinity among the top projects to watch out for, Solana’s future looks promising in the crypto space.
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