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Solana ecosystem is very assertive: Ready for the bull season
Zeta Markets Founder Tristan Frizza said the SOL rise was mostly driven by the increase in memecoin activity from the Solana network.
Zeta Markets Founder Tristan Frizza said the rise of SOL was mostly driven by the increase in memecoin activity of the Solana network.
“#Memecoins have definitely become a major driver of activity on Solana,” said Tristan Frizza, founder of Zeta Markets, the perp DEX of the Solana ecosystem. "It demonstrates Solana's ability to handle high transaction volumes with low fees and this development provides an excellent environment for users." said.
To illustrate this, Frizza pointed to Solana’s onchain metrics where its total value locked (TVL) exceeded $4.9 billion. “This development demonstrates strong network activity and the number of active users is constantly increasing; monthly active addresses reached an all-time high of 41.65 million in May.” he added.
According to this week's Bitfinex Alpha report, the Solana DeFi ecosystem is experiencing growth evident in lending, liquid staking, and perpetual markets.
The leader of altcoins, #Ethereum , is expected to experience more activity this month compared to Bitcoin. According to QCP Capital analysts, Ethereum options volatility (IV) is currently higher than Bitcoin; This suggests that investors are expecting increased price fluctuations for ether, possibly in response to the upcoming launch of spot ETH.
QCP Capital analysts said, “The uptrend will likely continue as the market waits for the spot Ether ETF to initiate new demand; The options market certainly reflects this; #Ethereum by volume [IV] is still 15 percent above Bitcoin volume.” said.
Andrew Melville, Head of Research at Block Scholes, observed that volatility in Ether has become more pronounced than in Bitcoin since mid-May, highlighting the disparity in volatility between both tokens since the FTX crash in November 2022.
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