Top 10 Solana (SOL) Ecosystem Projects by Development Activity

TL;DR

• Due to recent growth, Solana and its projects have gained popularity.
• Ecosystem coins such as Dogewifhat (WIF) and Bonk Inu (BONK) have seen significant declines after a substantial surge earlier this year.

The leader without surprises

Solana and many projects built on it have seen overwhelming popularity in 2024. Some factors that could have contributed to this could be the SOL bull run in late 2023 and early 2024, the growing community, and innovations in the ecosystem.

Crypto analytics platform Santiment recently describe Top 10 Solana-Based Projects in terms of development activity in the last 30 days.

Somewhat expectedThe first place belongs to Solana itself, which collected a score of 186.33. It is worth noting that the protocol’s native token – SOL – was experiment a fall since late July, plunging around 30% and currently trading around $127 (according to data from Coingecko).

Wormhole takes second place with a ratio of 90.5. It acts as a bridge connecting various blockchain networks, such as Solana, Ethereum, BNB Smart Chain, and others. It allows users to transfer digital assets and data across these blockchains without a centralized intermediary.

Pyth Network is third, with a score of 68. It works as a decentralized system oracle network where multiple vendors contribute to a collective data stream.

JITO and Neon complete the top 5. Other Solana-based projects down the line include Drift, Orca, Helium IOT, Helium Mobile and Metaplex.

The missing

It is interesting to note that Meme coins, which are part of the Solana ecosystem, are not on the list. These tokens, including dog hat (WIF), Bonk Inu (BONK) and many more more, were among the top trending topics in the crypto space earlier this year due to their skyrocketing prices.

However, their progress has stagnated. lately.WIF – the largest Solana-based meme currency by market capitalization – is currently trading at around $1.52, which is down over 70% from its ATH in April.

BONK (the second largest) is worth approximately $0.00001666 at presentor 60% less than the peak in May.