Franklin Templeton: Solana may continue to grow, consolidating its position as the third largest cryptocurrency

ChainCatcher news, Franklin Templeton released a report on Solana, suggesting that the growth of Solana could continue, solidifying its position as the third largest cryptocurrency after BTC and ETH.

The report states that Solana's crypto activity began to accelerate in the fourth quarter of 2023 when over $1 billion worth of wealth effect was created in the ecosystem through Solana airdrops. This drove up SOL and other ecosystem tokens, especially Meme coins. The areas most likely to bring about the next wave of adoption for Solana include DePIN, payments (especially micropayments), compressed NFTs, xNFTs and CLOB (Centralized Limit Order Book)/order flow payments etc. A major catalyst for resolving congestion issues due to high demand is Firedancer - a Solana validator client developed by Jump Crypto set to launch later this year.