Fundamental Analysis: Solana ($SOL) - The Phoenix of Web3 that Attracts Developers and Massive Volumes
Solana has established itself as one of the leading Layer 1s in the market for a clear reason: performance. With extremely fast transactions and very low costs, it has become the preferred environment for applications that require high throughput, such as high-frequency decentralized exchanges (DEXs) and DePIN projects. Although it faced instability in the past, recent updates to the network have drastically improved its reliability. The ecosystem of DApps, NFTs (with "cNFTs"), and memecoins on Solana is one of the most vibrant, indicating a strong and growing network effect.
