2024 will be the year of SOL .
- Messari said Solana started 2024 strong.
Solana (SOL), one of the bright stars of 2023, has had a meteoric rise since last October. Discussing Solana's 2023 journey and development, Messari said SOL started 2024 strongly. Citing 2024 as the year of Solana, Messari analysts say there is an average of 40.7 million daily user transactions in the Solana network. Noting that Solana's market value increased 423% in the last quarter of 2023, analysts wrote the following about SOL:
“Solana has become one of the leaders of the crypto market rally in Q4 2023. At this point, SOL completed its last quarter with a market value of $43.8 billion. SOL ranked fifth among all cryptocurrencies in terms of market capitalization in Q4, surpassing ADA, USDC, and XRP. As SOL prices increase, network activity also increases. The rise of SOL and Solana-based memecoins during the quarter also led to a surge in new demand for Solana. Additionally, as expected, transaction fees increase as more users flock to the chain. Accordingly, users paid an average transaction fee of 0.000025 SOL in the fourth quarter; This represents a 175% increase from the 0.000009 SOL paid in Q3.”
The Solana Foundation attributes SOL's growth to developer activity.
