In 2022, the cryptocurrency Solana (SOL) experienced a significant drop, losing 94% of its value. However, this year it is showing impressive growth, increasing its value by more than 900%. This growth has allowed SOL to surpass well-known cryptocurrencies like XRP and BNB in market capitalization, taking the fourth spot in the rankings. The last time Solana held such a high position was in November 2021. Currently, SOL is aiming to reach the $100 mark, whereas at the end of 2022, its value was just under $10.

The cryptocurrency market is witnessing a resurgence of interest in altcoins. Google Trends analysis shows that interest in Solana in the English-speaking world is approaching the level of interest in Ethereum.

Solana's success is linked to the development of its ecosystem, including projects like the decentralized exchange Raydium and other DEXs. The trading volume on DEXs based on Solana exceeded $9 billion over a week, surpassing Ethereum's ecosystem, which had a volume of $8.836 billion. This is the first time Solana's ecosystem has outperformed Ethereum in this metric. Increased interest in meme coins based on Solana, particularly the BONK token, which has risen 327.4% since early December, has also contributed to this success.

The share of DEXs based on Solana in the total trading volume of all DEXs worldwide has grown from 2% in early September to 17.84%. The volume of cryptocurrencies in staking has also significantly increased, exceeding $2 billion over the last four months, representing a 400% increase.

Besides Solana, other altcoins are also showing significant growth. For example, DOT has risen by 6%, AVAX by 8.5%, and the token of the blockchain project Near Protocol by 16% in just the last 24 hours. The total market capitalization of cryptocurrencies has increased by $30 billion in a day, reaching nearly $1.65 trillion.