$SOL . This efficiency has fueled its rapid adoption in decentralized finance (DeFi), non-fungible tokens (NFTs), and Web3 applications.

In 2023–2024, Solana experienced a significant surge, driven by:

1. Institutional Interest – Major investors and developers flocked to Solana due to its performance and cost-effectiveness.

2. DeFi & NFT Boom – Projects like Raydium, Magic Eden, and Tensor leveraged Solana’s speed, attracting users.

3. Ecosystem Expansion – The Solana Foundation’s grants and hackathons spurred innovation, bringing in new dApps.

4. Market Recovery – After the FTX collapse, Solana rebounded strongly, with SOL’s price rallying alongside Bitcoin’s resurgence.