"3iQ announces submission of North America's first Solana ETF application"

Data shows that the price of SOL has increased by more than 723% in the past year, and is currently priced at $133.60.

According to data from venture capital firm Pantera Capital, more than 60% of the incremental trading volume of decentralized exchanges (DEXs) in May occurred on the Solana blockchain. Solana’s share of DEX trading volume increased from 0% at the beginning of 2021 to 24% in May 2024. At the same time, the network’s unique active addresses increased from 14,000 in October 2020 to nearly 1.3 million in May 2024.

The report states that this achievement is thanks to Solana's approach to Apple's macOS architecture, which integrates hardware and software to achieve superior performance. Solana’s monolithic architecture focuses on optimizing every component of its own blockchain, driving a surge in retail activity.

While the Solana network has faced some challenges over the past few years, such as outages caused by technical issues, the most recent of which occurred on February 9, resulting in a nearly five-hour outage, its momentum remains strong. Solana's Firedancer upgrade is expected to be rolled out in a full version in 2025, with a simplified version gradually rolling out before that, and is designed to improve Solana's overall reliability and scalability to cope with increasing network activity.

Solana’s architecture makes it the first choice for developers of memecoin and decentralized infrastructure projects. Since January of this year, the number of new tokens on the network has continued to increase, surpassing other blockchains such as BNB Smart Chain, Ethereum, and Polygon.

According to the report, as of May 2024, Solana accounts for 85% of all new tokens emerging on decentralized exchanges (DEX), a significant increase from 50% a year ago. This increase reflects Solana’s strong performance in the retail market, driven primarily by memecoin activity.

With the continuous expansion of the Solana ecosystem and the emergence of innovative projects, I personally believe that every correction of SOL is a periodic quota (DCA) buying opportunity. By investing regular amounts, investors can diversify risks, smooth costs, and gain potential returns over the long term.

#SOL #MemeCoin