• Solana’s expanding ecosystem suggested good times ahead for SOL bulls.
• As per a report by an asset management firm, SOL could attain a price tag of $3000.

It’s no secret that the Solana [SOL] network has recently been receiving more attention. This is not by chance, but rather due to the fact that the network has been aggressively building in preparation for the next major rally.

How much are 1,10,100 SOLs worth today?

Solana has thus been experiencing healthy growth thanks to the focus on developments. It also owes that growth to the growing number of protocols that have constituted its ballooning ecosystem.

A recent Messari post offered a glimpse at the key areas that have been fueling Solana’s growth. Consumer apps, liquid staking tokens, derivatives, and lending tokens are among them.

What has been driving growth for @solana?

Promising trends and protocols include:
+ Liquid staking tokens
+ Lending
+ Derivatives
+ Consumer apps
+ and more pic.twitter.com/e5pB9BsLes

— Messari (@MessariCrypto) October 28, 2023

The aforementioned areas support the likelihood that Solana will experience robust growth moving forward. That growth could trickle down into positive price performance for its native cryptocurrency, SOL.

Also, the more projects within the ecosystem, the higher the level of Development Activity.

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Author: Michael Nderitu

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