Solana Flips Ferrari

Solana Flips Ferrari In Market Cap… Solana: $99.34B market cap. Ferrari: $83.43B market cap

Yep. You read that right. Solana, our favourite layer-1 protocol, is now officially larger than Ferrari.

To give you some context, Ferrari was founded in 1939 around 85 years ago. Solana was founded in 2017, just six short years ago.

This is massive for cryptocurrency as a whole, to show what can be achieved quickly when the right minds come together.

We’re witnessing a once-in-a-lifetime paradigm shift, and as Bitcoin soars to new ATHs, we’re gearing up for our generation's most significant wealth transfer.

But why is SOL pumping so hard?

It’s a two-pronged answer.

The first being the amount of new users being onboarded onto SOL and starting to build on the network. 

Data from Artemis shows that Solana had 13.8 million active addresses at the start of the year, and now as per November, they have over 100 million.

That’s more than a 7X in less than 12 months…crazy.

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The second reason, is due to the massive amounts of memecoin activity on the platform.

In 2024, the number of memecoins on the Solana network has experienced significant growth, with numerous projects launching in recent months.

According to data from CoinGecko, the market capitalisation of memecoins on Solana was over $12.4 billion at the time of reporting.

With a global memecoin market cap of approximately $72.2 billion, Solana commands a notable 17% share, underscoring its position in the expanding meme-token sector.

This surge has not only increased the user base but also broadened Solana’s ecosystem, drawing in both casual participants and serious investors interested in alternative assets within Solana's high-speed, cost-effective infrastructure.

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So what does this mean?

Solana is here to stay, and with the growth of SOL all the SOL based tokens will inevitably moon as well. So keep your eye on the key SOL projects and the best memecoins being built on the platform.

Because when push comes to shove, that’s your ticket to success.