Solana Successfully Outperformed Its Rivals

Solana (SOL) did not have its best year in 2022. There was a constant negative vibe, both due to network outages and allegations that Solana (SOL) was exposed to FTX. But Solana (SOL) managed to outperform her opponents in several areas despite the FUD (Fear, Uncertainty and Doubt) surrounding her. Solana (SOL) has also outstripped cryptocurrencies like Near Protocol (NEAR) and Avalanche (AVAX) in terms of daily active addresses. At the time of writing, the Solana (SOL) network has 340 thousand daily active users. But Solana (SOL) could not compete with Ethereum (ETH) and Polygon (MATIC) in terms of daily activity.

We can say that the project has not been able to grow in the DeFi field, as the total value of Solana (SOL) locked has dropped drastically in the last few months. The total value locked in the Solana (SOL) chain is recorded as $865.14 million at the time of writing. Ethereum (ETH), Avalanche (AVAX), and Polygon (MATIC) outstripped the Solana (SOL) chain in this category.

The NFT area of ​​the Solana (SOL) network, on the other hand, saw sufficient growth throughout the year and its blue-chip NFTs performed extremely well. As can be seen from the image below, Solana’s Blue Chip index has increased compared to last month.

According to the data provided by Solana (SOL) Floor; Solana’s NFT volume has increased from 83K to 143K in the last 30 days. From the image below, it is clear that the number of stakers in the Solana (SOL) network has increased significantly over the past few days. At the time of writing, there are 577,155 stakers in the network.

Despite all the FUD around it, time will tell whether the Solana (SOL) presence can develop a positive sentiment in the minds of investors.

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