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4 Key Takeaways From 'State of Solana Q3 2024' By Messari

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The research paper released by Messari highlights the progress of Solana in Q3 of 2024. The Solana ecosystem has experienced significant growth, with metrics such as DeFi TVL and daily DEX volume showing substantial increases. However, there has been a decline in average daily minted cNFTs and NFT volume, indicating a potential market correction. Jupiter, a DeFi project on Solana, has seen impressive growth, particularly in Total Value Locked (TVL). Infrastructure advancements such as Embedded Wallets and ZK Compression have made Solana more accessible and efficient. The network continues to attract users, as shown by the growth in average daily fee payers. Solana's circulating market cap has also increased significantly. Overall, Solana has demonstrated strong technical capabilities and has a solid foundation for future growth and adoption.

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