Solana has enormous potential not yet exploited

The popularity of the Solana community was very affected after the Libra scandal, the Token promoted by Argentine President Javier Milei.

As Cryptonotics reported, the asset launched on February 14 was offered as a venture to advertise the expansion of the technological firms of that nation though, with the passing of the hours, It was found that its utility was void and was certified as a memecoin.

The launch of Libra, as well as, was filled with irregularities for gross sales that promoted its worth to three,000%, however then its worth collapsed when Insiders took earnings and withdrew liquidity. For that purpose, many think about it a rip-off.

This reality revived the controversy on the sustainability and credibility of the meme cash and left within the eye of the storm to Solana, which received the nickname of “On line casino de Memecoins”, a time period that might transfer critical traders who search a dependable and steady setting.

Within the midst of this agitated 2025, the query that arises is: Can Solana get that nickname from prime?

For Evan Dawe, cryptocurrency market analyst, the reply is sure.

As he explains in his newest report, Solana has a “larger efficiency, low charges and scalability” that place him to change into a pacesetter for decentralized functions (DAPPS) that might attain mass adoption.

To maintain his argument, the specialist factors out: “Solana has change into the market chief in key metrics, such because the variety of month-to-month energetic customers, tariff revenues and the quantity of every day transactions, surpassing Ethereum, its layers 2 and all different block chains of competitors.”

Within the following graph it’s noticed that Solana has extra every day transactions (inexperienced line) in comparison with Ethereum (mild blue) and the suits, Avalanche, Cardano and Close to.

Updates on the best way

DAWE highlights that the ecosystem is about to implement Firedancer, which can improve the transaction processing capability from 65,000 to 1 million transactions per second (TPS)as Cryptonoticia reported.

“This can enhance the protection and reliability of the community and scale back the danger of inactivity. Firedance will consolidate Solana because the quickest and most scalable community of the market, overcoming the theoretical efficiency metrics of rising networks as appropriate,” explains the analyst. As well as, he provides:

“Solana is able to change into the spine of the decentralized financial system.”

Evan Dawe, cryptocurrency market analyst.

One of many fundamental causes that reinforce Solana’s views for the longer term is the numerous variety of builders that it has attracted. This has generated an energetic and various ecosystem the place numerous tasks of Decentralized Finance (DEFI), Stablecoins, Memecoins Creation Platforms and Actual Belongings Token (RWA).

In his report, the creator presents a map of the Solana ecosystem that highlights the wide range of use circumstances.

Nonetheless, regardless of Dawe’s optimism, 50% of the entire blocked worth (TVL) in Defi, the equal of 46,288 million {dollars}, belongs to Ethereum, whereas Solana is second with 6,809 million {dollars} (7.5%).

The TVL is a key metric to judge the usefulness and adoption of a block chain, because it displays the variety of belongings deposited of their DAPPs and Defi protocols.

“The Solana TVL grew a formidable 67% final yr, whereas many of the different chains, similar to Ethereum, Avalanche, Cardano and Close to, recorded a lower in TVL,” says Dawe.

As for the steady currencies, the creator factors out: “Solana is on the forefront of this expertise, with 12,000 million {dollars} in steady cash coined on the platform, which grew 130% solely within the first quarter of 2025”.

The affirmation “on the forefront” may be debatable, particularly if in comparison with Solana with different networks similar to Ethereum or Tron, which have a big use of stablcoins.

In response to Defillama knowledge, the market capitalization of the steady currencies is 221,326 million {dollars}, of which 125,000 million {dollars} flow into in Ethereum and 65,131 million {dollars} in Tron.

The analyst highlights the soundness of the block chain, that has maintained a yr with out interruptions. That is essential for Solana, given its community failures. Present solidity helps strengthen the boldness of traders and builders within the ecosystem.

As for the value of Solana (Sol), the native foreign money of this ecosystem, the specialist emphasizes this system that the developer tools is implementing to cut back the annual inflation price from 15% to 1.5%.

“Whereas some argue that Solana inflation is just too excessive, a sure degree of inflation is critical to encourage validators to guard the community and preserve a useful ecosystem. Staking yields additionally make up inflation additionally compensate, rewarding lengthy -term holders,” he says.

He additionally mentions that Sol not too long ago confronted a tokens unlock that amounted to roughly 2.4 % of the circulation provide.

As Cryptonotics reported, on March 1 there was an unlock of 11.2 million solar, valued at 2,070 million {dollars}. The mechanism was a part of the liquidation course of after the collapse of Alternate FTX in 2022.

“Now that this nice unlock has handed, the gross sales strain ought to lower,” provides Dawe.

On the time of the publication of this be aware, the value of solar is $ 138, 52% beneath its historic most (ATH) of $ 294.

Will it stop to be the On line casino de las Memecoins?

To reply this query, the specialist compares Solana with the beginnings of the Web. “Many traders argued that the Web was a breeding floor for scams and unlawful actions. In lots of circumstances, they had been proper, since most Puntocom firms failed. Over time, excessive -utility web sites and functions lastly prevail,” he says.

In that sense, it highlights: “Whereas it’s true that the community homes meme cash and speculative exercise, this appears to point that it’s a native Web expertise in its early levels. Traders who discard it as a easy platform for meme cash overlook the disruptive capabilities of Solana.”

It will likely be essential to see if these capabilities lastly handle to impose themselves within the quick time period.

On this regard, Erika Espinal, Dealer and Cryptocurrency Market Analyst, believes that what occurred with Libra and the nickname of “On line casino de Memecoins” is exactly the reset (begin, in Spanish) that he wanted. “Now, individuals with weak palms go away and stay lengthy -term traders, those that imagine within the venture,” he says.

Moreover, tasks that the solar’s worth might climb at $ 300.

Bitwise, a digital asset administration agency, forecasts a bullish situation and tasks an goal worth of $ 6,300 by 2030. For this to occur, stability within the block chain and the launch of the funds quoted within the inventory market (ETF) of Solana in america shall be key.