Explosive Growth of the Solana Ecosystem, Changing Landscape of Public Chain Competition
Solana has recently performed exceptionally well, with daily active addresses on the network surpassing 2 million, setting a new historical high. The decentralized exchange Jupiter has repeatedly exceeded Uniswap in daily trading volume, and the meme coin WIF's market capitalization has surpassed $3 billion. On the technical side, Solana's network stability has significantly improved through the Firedancer client tests. However, congestion issues have not been completely resolved, with a transaction failure rate still around 5%. Notably, Solana is attracting a large number of Ethereum developers to migrate, with the number of developers growing by 45% quarter-on-quarter. Analysts believe that Solana has clear advantages in retail users and high-frequency trading scenarios, but Ethereum still holds dominance in institutional adoption and the Layer 2 ecosystem.