• Solana has surged on the charts over the last 12 months
• Exec pointed to token extensions as the network’s USP

Emerging from a bearish market that cast doubts on its viability, Solana (SOL) defied skeptics by becoming one of 2023’s standout performers. Asher Tan, CEO of CoinJar, pointed this out in a conversation with Forbes Advisor. He said, 

“A 300% rise in the last 12 months has seen Solana firmly entrench itself as a top five coin by market cap.”

However, SOL has had a rocky start to 2024. Ergo, the question: Is it wise to be bullish on Solana in 2024? Austin Federa, Head of Strategy at the Solana Foundation, detailed why in a recent interview with Scott Melker.

Recent developments on Solana

Federa highlighted that the most active category within the Solana space has been decentralized physical infrastructure networks (DePIN). He spotlighted 2023’s major migrations like Helium and Render.

Moreover, the exec touched upon decentralized finance (DeFi) 2.0 innovations, mentioning projects like Jupiter aggregator and Credix. However, the thing that makes Solana stand out, as per Federa, is token extensions. He explained, 

“The Solana community has borrowed a ton of great ideas from the Ethereum community and the Cosmos Community. The idea of token extensions… is something that we see brought to many networks, and that can sort of become an idea for how the stuff can be done more broadly.”

Network outages

Since 2021, Solana has faced many Go to Source to See Full Article
Author: Kamina Gilani

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