Solana is on fire once again. Looking at the current market scenario, analyst Altcoin Buzz said that this is impressive considering the project seemed defeated back in December 2022. Dubbed the “comeback kid” of crypto, Solana was valued at just $8 in December 2022, but today it stands strong at approximately $178. This impressive performance of the SOL token typically benefits the broader Solana ecosystem, with many projects under its umbrella showing positive trends. As we approach what could be a bullish end to 2024 for altcoins, here are three Solana ecosystem gems to watch.
Jupiter, Solana’s leading swap aggregator, is thriving. According to DeFi Llama, it boasts a total value locked (TVL) of $553 million, ranking it sixth among all Solana DeFi projects. Since January this year, Jupiter’s growth has been noteworthy.
The JUP token, launched in January 2024, is currently priced at just over $1.10, with a market cap of $1.385 billion. Out of the 10 billion max supply, 1.35 billion tokens are in circulation.
Pyth Network is a financial oracle providing real-time price feeds for cryptocurrencies, equities, foreign exchange pairs, ETFs, and commodities. Pyth’s update frequency surpasses competitors like Chainlink, with over 90 million updates per day, ensuring highly accurate price data.
The current price of PYTH is approximately $0.38, with a market cap of just below $1.4 billion. Out of a 10 billion max supply, 3.6 billion tokens are in circulation.
io.net is a key player in the decentralized cloud computing sector, offering on-demand decentralized GPU access for machine learning and AI applications. This decentralized approach provides significant advantages over centralized competitors, such as cost efficiency, scalability, and immediate access to GPUs.
The io token, used for renting GPU and other services, is currently priced at $2.79. It has a market cap of $278 million, with 95 million tokens in circulation out of an 800 million max supply.
Also Read: Crypto Market Under Pressure as Bitcoin Drops, Whales Exit: Is a Crash Coming?
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