As numerous blockchain ecosystems compete for traction, it is essential to figure out which projects are worth exploring. The Solana ecosystem has gotten a lot of attention lately, both for DeFi and NFTs. The tokens worth keeping tabs on ranked by monthly performance paint an exciting future.
The Solana Ecosystem Keeps Growing
These past few months have been interesting for Solana, both as a blockchain and a crypto asset. The ecosystem has grown by leaps and bounds thanks to various DeFi and NFT projects. Therefore, it is crucial to build on a cheap, efficient, and convenient infrastructure to work with. Several hundreds of tokens now reside on the Solana blockchain, most tied to native projects in the decentralized finance segment.
The tokens issued on the Solana blockchain represent a combined market cap of over $192 billion. That doesn’t mean all of this value resides solely on Solana, though, as several assets are cross-chain, such as USDC, USDT, Civic, Chainlink, and many others. However, one cannot deny several projects note a solid monthly performance. As a result, demand for the usage of and exposure to Solana and its assets is rising.
Popsicle Finance (ICE)
As a cross-chain yield-enhancing platform focused on AMM LP, Popsicle Finance is exploring opportunities on Solana. The project also resides on Ethereum and Binance Smart Chain, giving it broad coverage of the essential blockchains for DeFi. ICE, the native token, notes a monthly performance of +785.6%, which is rather impressive. Sustaining such growth is very difficult, although cross-chain solutions are in very high demand these days.
Tokenized vaults have been an intriguing addition to DeFi over the past few months. APYSwap facilitates the decentralized exchanging of shares of such tokenized vaults across multiple blockchains. Moreover, the project has multiple products under its belt, including AllBridge and St8kr. APYS can be found on Ethereum, Solana, HECO, BSC, and Polygon, and has a monthly performance of +282%. An impressive rise in value, although continuing on that momentum will be tricky.
Plutos Network (PLUT)
Plutos Network can be of great value as a multi-chain synthetic issuance and derivative trading platform with mining incentives and staking rewards. The project integrates various blockchains, including Solana and Polkadot, into its on-chain liquidity and trading solution. Over the past 30 days, the value of the PLUT token rose by 227.4%, which is rather spectacular. Its weekly trend of -14.3% doesn’t bode well for the short term, though.
The Aleph.im solution is intricate, as it tackles the DeFi industry by providing secure storage and computing to DApps on all blockchains. Those blockchains include Solana, Ethereum, Avalanche, Binance Smart Chain, etc. Thanks to a monthly price performance of +165.9%, the ALEPH token is now on the radar of many traders and speculators. There may be some life left in this uptrend, although the daily performance looks a bit bleak.
WOO Network (WOO)
The WOO network consists of various CeFi and DeFi solutions, catering to a broad audience. WOO, the native token, is a utility asset across all of these solutions. It, too, has a solid monthly performance, as WOO gained 92.9% in the past 30 days. The year-to-date performance of over +3,600% is equally impressive, confirming there is merit in this project. Plenty of positive momentum for “the ultimate trading platform.”
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