Solana blockchain, launched in 2020, celebrates its fifth anniversary. It is one of the largest blockchains by transaction activity and is included in the US digital asset stockpile.
Solana's Launch and the Pandemic
Solana was launched on March 16, 2020, amid the COVID-19 pandemic. Despite the challenging conditions, the network quickly gained traction, partly due to support from Multicoin Capital, which secured $20 million in funding in July 2019.
Solana's Challenges and Recovery
In 2022, Solana faced significant challenges, including a drop in market value due to the bear market and the collapse of the FTX exchange. However, in 2023, Solana began a recovery, with its market cap increasing significantly to reach $140 billion by early 2025.
Memecoin Craze and Tech Innovations
In 2023-2024, Solana's popularity surged due to the memecoin craze. The platform saw the rise of coins like Bonk and others. In May 2023, Solana also launched its first major crypto phone, Solana Saga, further advancing its ecosystem.
Solana marked its fifth anniversary with significant achievements, including its inclusion in the US digital asset stockpile and advancements in memecoins and mobile technology innovations.
