Solana’s meteoric rise

As measured by market capitalization, Solana is the fifth largest cryptocurrency (worth in excess of $82billion). Increasingly, the Solana blockchain is being used by a variety of organisations and whilst some are even calling Solana Ethereum's killer, its founder has warned against such statements. Solana's blistering ascent (up over 770% in a year) can be traced back to a confluence of factors. Its proof-of-history technology also offers the ability to execute high speed transactions and affordability, so perfectly aligning with the DeFi and NFT explosion. A vibrant developer community and flourishing dApp ecosystem has fostered adoption whilst growing institutional support has further helped Solana's reputation and attracted investors. Franklin Templeton research highlights that “Solana’s network activity increased by 75% between the third and fourth quarter of 2023. At the same time, the number of Solana wallets holding memecoins also rose significantly.” Strikingly, Solana’s meme…