bsc.news
Green Arrows for Solana Ecosystem
After being absolutely hammered by the collapse of Sam Bankman-Fried’s FTX empire in late 2022, the Solana ecosystem has been running on phoenix fire to start 2023.
In the past week, Solana projects got an added octane boost from the broader crypto market pump stemming from welcome news on inflation.
Recently falling below $10, the blockchain’s native coin $SOL increased in price by 62% in the past seven days and now stands at $23.23, according to CoinGecko.
Here are 5 Solana projects that posted the biggest gains in the past week:
1. Mercurial
- Name: Mercurial
- Symbol: $MER
- Description: DEX/Yield Aggregator
- Market Cap: $6.0 million
- 7-day increase: 220%
2. Orca
- Name: Orca
- Symbol: $ORCA
- Description: DEX
- Market Cap: $24.7 million
- 7-day increase: 136%
3. Oxygen
- Name: Oxygen
- Symbol: $OXY
- Description: DeFi brokerage
- Market Cap: $4.7 million
- 7-day increase: 81%
4. STEPN
- Name: STEPN
- Symbol: $GMT
- Description: Move to Earn
- Market Cap: $293.8 million
- 7-day increase: 80%4.
5. Tulip Protocol
- Name: Tulip Protocol
- Symbol: $TULIP
- Description: Yield farming
- Market Cap: $2.9 million
- 7-day increase: 69%
What is Solana:
Solana is a public, open-source blockchain that allows for smart contracts, non-fungible tokens (NFTs), and various decentralized applications (dApps). The SOL token, which is native to Solana's blockchain, provides network security through staking as well as a means of transferring value.