Solana, as a high-profile Layer 1 leading token in the cryptocurrency market, broke through the key price of $145 in the early hours of this morning, causing widespread attention in the market. This breakthrough not only marks another new high for the price of SOL since 2022, but also indicates that the Solana ecosystem may usher in a big rally.

According to a report by Bloomberg, Pantera Capital, a well-known cryptocurrency investment firm, is raising funds and plans to purchase up to $250 million worth of SOL tokens from the FTX exchange. The news could be one of the reasons why the SOL price broke through the key level.

In addition, some projects in the Solana ecosystem have also shown strong upward momentum, such as Jupiter (JUP) and others, further driving the SOL token price upward. At the same time, other tokens in the Solana ecosystem, such as RAY, MYRO, etc., have also seen a significant rally, showing the prosperity and vitality of the Solana ecosystem.

The author hereby compiles the popular projects in the Solana ecosystem for all Gate.io users.

DEX

Jupiter

To sum up: Jupiter is currently the largest transaction aggregation platform on the Solana chain, aiming to provide efficient, secure, and low-cost digital asset trading services.

Features and benefits of Jupiter include:

1. High performance and low latency: Based on the Solana blockchain, Jupiter Exchange has the characteristics of high throughput and low latency, which can achieve thousands of transactions per second, providing users with a smooth and efficient transaction experience.
2. Decentralized Trading: Jupiter Exchange uses a decentralized architecture that allows users to transact directly on the platform through smart contracts without trusting third-party intermediaries, enabling more secure and transparent transactions.
3. Abundant trading pairs: Jupiter Exchange supports all trading pairs of digital assets on the Solana chain, covering mainstream cryptocurrencies, stablecoins, and meme coins, providing users with a variety of trading options.

A few days ago, Jupiter announced the launch of the genesis vote, and staking JUP can get Launchpad fee rewards, so JUP soared. JUP is to Solana what UNI is to Ethereum.

Raydium

Raydium is an automated marketplace maker (AMM) and decentralized exchange (DEX) built on Solana. Raydium users can swap in liquidity pools, trade using the order book, participate in liquidity mining, or stake RAY to participate in the IDO through the Raydium AcceleRaytor launchpad. Unlike other AMM DEXs, Raydium leverages its pool liquidity to place orders on the Serum DEX's central limit order book, rather than isolating liquidity from other platforms.

Meme

BONK

Since its launch at the end of December 2022, BONK has continued to rise amid skepticism. At the time of writing, according to Gate.io data, it has risen by nearly 10% in the past 24 hours, and is now trading at 0.000032 USDT. Since its launch, BONK has risen by more than 500 times, with the highest price being 0.000048 USDT and the lowest price being 0.000000086142 USDT.

According to Bonk's official Twitter, the Bonk project began planning on December 9, 2022, and called on other projects in the Solana ecosystem to interact. Then, on December 25th, on the occasion of Christmas, Bonk officially launched a large-scale airdrop for the Solana ecosystem.

According to the official introduction, Bonk issued a total of 100 trillion BONK Tokens, and 50% of the Tokens were airdropped to the Solana community, including the developers of LamportDAO (LamportDAO is the center of Solana's builders), holders of NFT projects such as the Famous Fox Federation, and even the airdrop objects include DeGods, which previously announced its migration to other chains.

Looking at Bonk alone, some communities believe that both the degree and timing of the interaction in the Solana ecosystem are very similar to a long-planned "enclosure self-sprout" in the Solana ecosystem, and it may also be one of the solutions used by developers in the Solana ecosystem to revitalize.

WIF

WIF can be said to be a "self-made" project, and if you want to talk about what kind of narrative WIF is, you can probably only think of this woven beanie on the head of Shiba Inu. In late December 2019, among esports organizations and celebrities, the image of adding various logos and images to a beanie became popular on Twitter as a profile picture.

It was against this backdrop that WIF achieved a 10,000-fold increase in less than 4 months.

The WIF issuance process was silent, and according to market data, WIF opened at a price of $0.00016 as early as November 20, 2023. However, the first tweet posted by its official Twitter account was dated December 29. According to Gate.io data, the current WIF price has exceeded $2, an increase of nearly 20% in 24h. Since its launch, WIF has risen by more than 10,000 times.

WEN

On January 25, Jupiter co-founder Meow announced on the X platform that he will test issue the meme token WEN based on the project's newly launched LFG Launchpad platform. WEN, which accounts for 70% of the total supply, will be airdropped to millions of Solana wallet addresses, and the airdrop application will last until January 29.

WEN's meme attribute comes from the community's desire and anticipation for potential airdrops. Meow said that in the past month, he has received countless questions about "Wen tokens" and "Wen airdrops" almost every day, for which Meow has written a poem in a joking tone in response.

According to Gate.io data, WEN has not fluctuated much in the past 24 hours, and is now quoted at $0.000328. WEN was quoted at $0.000068 on Jupiter during the airdrop, and fell as low as $0.000041 after the launch, and since the bottom, WEN has risen nearly 10 times, making it the smallest increase among popular meme coins on the Solana chain.

MYRO

MYRO's Twitter profile is "Solana's founder's dog," and the meme culture is on the rise. MYRO is named after the pet of the founder of Solana. The MYRO team says it wants to bring more traction to Solana through memes and increase on-chain trading volume of DEXs, NFTs, and tokens. They also donated $5,000 to the nonprofit Dogs for Better Lives.

Many consider MYRO to be the second largest meme coin on the Solana chain, and say that if "BONK is like DOGE, then MYRO is SHIB". According to Gate.io data, MYRO has risen by 11.6% in the past 24 hours, and is now quoted at 0.37 USDT. Since its launch, MYRO has risen by more than 400 times.

Oracles

PYTH

The Pyth Network is the leading oracle protocol on the Solana chain that allows users to access the prices of cryptocurrencies, real-world stocks, and more, and helps users stay up-to-date on the prices of various assets such as cryptocurrencies and stocks. The platform offers a special price indication service that not only tells you the current price of an investment, but also gives you a so-called "confidence interval", which is equivalent to a probability range of price accuracy.

Pyth's native token is PYTH, which will be used to pay for updating oracles. The price feed on Pyth will remain the same until someone pays for this update. The total release period for PYTH is approximately 42 months. It should also be noted that in May 2024, around the time of the Bitcoin halving, PYTH will release a significant portion of the token. In addition, all rewards will be released at the same rate and time, except for the community and launch.

PYTH's investors include Jump crypto and CMT Digital, among others, and the investment lineup is luxurious. PYTH is to Solana what LINK is to Ethereum.

Author: Icing

*** This article represents the views of the author only and does not constitute any trading advice. **

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