Solana celebrates a year without network failures as ecosystem thrives

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Solana has completed an full calendar twelvemonth without a artifact accumulation failure.

This marks a notable betterment successful web stability, particularly fixed its past show issues.

On Feb. 6, Helius Labs CEO Mert Mumtaz acknowledged this achievement, emphasizing that the web had maintained uninterrupted cognition for an full year. He besides noted that Solana had avoided performance-related failures for astir 2 years.

Since its motorboat successful 2020, Solana has experienced several periods of instability. The archetypal important disruption came successful aboriginal 2022, followed by intermittent outages implicit the pursuing 2 years. However, the network’s caller show suggests improved resilience and scalability.

Solana’s ecosystem growth

Solana’s quality to support uptime follows a surge successful adoption and economical activity.

A Q4 2024 report from Messari revealed that the network’s full app-generated gross jumped 213% quarter-over-quarter (QoQ), reaching $840 million.

According to the report, respective cardinal projects drove this expansion. Pump.fun recorded $235 cardinal successful gross (up 242% QoQ), followed by Photon with $140 cardinal (278% increase), Raydium astatine $74 cardinal (268% increase), BullX astatine $73 cardinal (260% increase), and Trojan astatine $63 cardinal (187% increase).

The DeFi assemblage successful Solana has besides experienced accelerated expansion. Total worth locked (TVL) climbed 64% QoQ to $8.6 billion, surpassing Tron and positioning Solana arsenic the second-largest DeFi ecosystem. When measured successful SOL, TVL roseate 28% to 46 cardinal SOL.

Solana’s regular spot DEX trading volume soared by 150% QoQ, averaging $3.3 billion. This surge followed a renewed involvement successful meme coin trading aft the 2024 US elections and a increasing absorption connected AI-driven assets.

The network’s stablecoin ecosystem besides expanded. Solana’s full stablecoin market headdress grew 36% QoQ to $5.1 billion, making it the fifth-largest blockchain for stablecoin activity.

While PYUSD’s circulating proviso declined by 47% to $175 million, USDC remained dominant, expanding its marketplace headdress connected Solana by 53% QoQ to $3.9 cardinal and holding a 75% marketplace share.

The station Solana celebrates a twelvemonth without web failures arsenic ecosystem thrives appeared archetypal connected CryptoSlate.

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