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Home»ALTCOIN NEWS»Solana dApp investment reaches new heights: Q3 performance analysis
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Solana dApp investment reaches new heights: Q3 performance analysis

By Crypto FlexsNovember 2, 20243 Mins Read
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Solana dApp investment reaches new heights: Q3 performance analysis
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  • Institutional investment in Solana increased by 54%.
  • The platform’s dApps secured $173 million in the third quarter.
  • The Solana ecosystem is seeing significant growth.

Solana’s blockchain ecosystem has grown significantly over the past year. Both trading volume and fee revenue are hitting new highs, with Solana overtaking Ethereum. This growth trend continued in the third quarter.

A recent report shows that institutional funding in the Solana ecosystem has reached new highs. In particular, Solana’s investment in dApps increased by 54%, reaching a new high.

Institutional investment in Solana surge in Q3

Solana’s ecosystem is receiving significant institutional attention. According to Messari, investments in Solana-based dApps reached $173 million in the third quarter of 2024. This figure represents a notable 54% increase over the previous quarter.

Despite a 37% decline in the number of funding rounds, institutional investment reached its highest since the second quarter of 2022. High value per investment indicates the maturity of the Solana ecosystem and the trust of institutional participants.

The main reason for the increased investment is Solana’s ecosystem growth and scalability. Solana’s transaction fees increased 6% in the third quarter due to high memecoin activity, but are still very low compared to other major chains.

Solana’s TVL Rose 26%

These investments increased Solana’s DeFi total value locked (TVL) by 26% in the third quarter. This figure now stands at $5.7 billion, making Solana the third-largest DeFi ecosystem after Ethereum and Tron. The main growth areas are stablecoins and memecoins. Last quarter, PayPal’s PYUSD stablecoin rose a whopping 341%.

Solana has also become a leader in tokenization. Last quarter, it was the third largest blockchain for tokenized government bonds, behind Ethereum and Stellar. The market was valued at $123 million. Additionally, major companies like Franklin Templeton are leveraging Solana to drive on-chain funding. At the same time, Société Générale added a new stablecoin to Solana.

All these numbers and developments suggest that Solana’s ecosystem is attracting significant institutional interest. Institutional investors see it as a good investment option due to its scalable infrastructure and growing ecosystem.

On the flip side

  • Despite significant growth, Solana also faces challenges. One of them is validator centralization. Despite ongoing efforts to improve geographic distribution, 33% of validators are located in the US and UK.
  • Solana has faced technical issues in the past, including network-wide outages. Recently, the phantom walletThe largest cryptocurrency wallets also experienced downtime.

Why This Matters

The surge in institutional interest highlights Solana’s ability to attract institutional investors. This is the key to the company’s further growth and development.

Learn more about Solana’s growth and metrics:
Solana Surpasses Ethereum in Economic Value Amid Memecoin Surge

Learn more about Polymarket criticism.
Polymarket faces wash trading claims days before US election

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