Messari Solana Q2 Report: Technological Innovation and the Thriving Ecosystem

According to Messari's "State of Solana Q2 2024" analysis, Solana performed strongly in terms of technological innovation, ecosystem development, and market acceptance in Q2 this year. Despite facing challenges such as network congestion, the Solana ecosystem has made significant progress in many aspects through technological upgrades and the addition of new partners.

 

The Solana team has launched some scaling solutions, such as Light Protocol and Helius' ZK compression technology, as well as MagicBlock engine. In terms of TVL, Solana's DeFi TVL decreased by 9% YoY to $4.50 billion, but TVL priced in SOL increased by 26%. Kamino Lend and MarginFi's TVL decreased by 26% and 56% respectively. The daily spot transaction volume of DEX increased by 32% YoY to $1.60 billion, mainly driven by memecoin transactions. Raydium's daily transaction volume increased by 77%, making it Solana's largest DeFi protocol.

 

Solana's stablecoin market cap grew 8% YoY to $3.10 billion. PayPal's PYUSD stablecoin expanded to Solana, with USDC still the dominant stablecoin; however, NFT daily trading volume fell 56% YoY to $3.40 million. Magic Eden's market share increased from 25% to 59%.

 

For more information, see Messari's latest market research report: https://www.bitget.fit/zh-CN/news/detail/12560604110618