Close Menu
  • Crypto News
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Trending

Bitcoin’s Parabolic Glory Days May Be Over, Analyst Claims

July 27, 2025

$23b burned, or. bugged; Coinbase exec explains

July 27, 2025

Nasdaq-Listed Windtree Seeks $520M for BNB Reserve Accumulation

July 27, 2025

Critical Levels in Bitcoin Have Been Set – What Levels Must Be Exceeded for an Explosive Uptrend? What Level Is Important to Prevent a…

July 27, 2025

Legal Expert Pushes Back on Narrow Comparison With Chainlink

July 27, 2025
Facebook X (Twitter) Instagram
  • Advertise
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianoru Русскийes Españolzh-CN 简体中文hi हिन्दीja 日本語
Crypto Observer
  • Crypto News

    Bitcoin’s Parabolic Glory Days May Be Over, Analyst Claims

    July 27, 2025

    Nasdaq-Listed Windtree Seeks $520M for BNB Reserve Accumulation

    July 27, 2025

    Ethereum CME Futures Open Interest Hits Record $7.85B

    July 27, 2025

    Remember Akon’s Futuristic Crypto City? Here’s the Brutal Reality After 7 Years

    July 27, 2025

    How Wall Street Killed The Old Cycle–Expert

    July 27, 2025
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi
Facebook X (Twitter) Instagram
Crypto Observer
Home » Technology » Blockchain » These Three Narratives Are Driving ‘Vibrant’ Solana (SOL) Ecosystem, According to Crypto Exchange CoinEx
Blockchain

These Three Narratives Are Driving ‘Vibrant’ Solana (SOL) Ecosystem, According to Crypto Exchange CoinEx

Crypto Observer StaffBy Crypto Observer StaffNovember 28, 2023No Comments2 Mins Read
Facebook Twitter Pinterest Reddit Telegram Email LinkedIn Tumblr
Share
Facebook Twitter LinkedIn Pinterest Email

Three primary sectors are driving the development of Solana’s (SOL) “vibrant” ecosystem, according to the Hong Kong-based crypto exchange CoinEx Global.

CoinEx notes in a new analysis that the Ethereum (ETH) competitor’s attention is focused on decentralized finance (DeFi), memecoins and decentralized physical infrastructure networks (dePIN).

DePIN projects involve crypto-powered decentralized networks that connect hardware devices and offer digital services, according to the crypto exchange Bitstamp.

CoinEx notes that dePIN projects represent the highest total market cap on Solana.

“Benefiting from Solana’s state compression technology, dePIN projects can significantly reduce the cost of minting NFTs (non-fungible tokens) representing real-world hardware (multiple NFTs can be minted for just $0.01). Therefore, Solana is the preferred ecosystem for many dePIN projects.”

CoinEx notes that the Solana ecosystem’s top memecoin is Dogecoin (DOGE) rival Bonk (BONK). Last week, top crypto exchange Binance launched a BONK perpetual contract with up to 50x leverage. The 179th-ranked crypto asset is trading at $0.000004 at time of writing and is down nearly 10% in the past 24 hours.

CoinEx also says the Pyth Network (PYTH), an oracle network, is the Solana ecosystem’s “most prominent” DeFi project. Binance also recently listed a PYTH perpetual contract with up to 50x leverage. The 80th-ranked crypto asset by market cap is trading at $0.432 at time of writing and is up over 1% in the past 24 hours.

Solana’s native asset, SOL, is trading at $55.02 at time of writing. The seventh-ranked crypto asset by market cap is down 2.82% in the past 24 hours.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Generated Image: Midjourney



Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

GENIUS Act Spurs Shift to Payment Utility in Stablecoins

GENIUS Act Spurs Shift to Payment Utility in Stablecoins

July 27, 2025
Divine Issues 30K Crypto Loans Using Sam Altman’s World ID

Divine Issues 30K Crypto Loans Using Sam Altman’s World ID

July 27, 2025
Solo Bitcoin Miner Successfully Mines Block

Solo Bitcoin Miner Successfully Mines Block

July 26, 2025
Japan’s Approval Culture Is Blocking Crypto Growth: WeFi CEO

Japan’s Approval Culture Is Blocking Crypto Growth: WeFi CEO

July 26, 2025
Add A Comment

Leave A Reply Cancel Reply

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Top Posts

Bitcoin’s Parabolic Glory Days May Be Over, Analyst Claims

July 27, 2025

$23b burned, or. bugged; Coinbase exec explains

July 27, 2025

Nasdaq-Listed Windtree Seeks $520M for BNB Reserve Accumulation

July 27, 2025
Advertisement
Demo

Crypto Observer is your one-stop website for the latest crypto news and updates, follow us now to get the news that matters to you.

Facebook X (Twitter) Instagram
Crypto News

Nasdaq-Listed Windtree Seeks $520M for BNB Reserve Accumulation

July 27, 2025

Ethereum CME Futures Open Interest Hits Record $7.85B

July 27, 2025

Remember Akon’s Futuristic Crypto City? Here’s the Brutal Reality After 7 Years

July 27, 2025
Get Informed

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Facebook X (Twitter)
  • Privacy Policy
  • Terms of use
  • Advertise with us | Publishing
  • Contact us
  • Crypto News – Press release
  • Newsletter sign up
  • Markets
  • Altcoins
  • Bitcoin
  • Crypto News
  • DeFi
  • Ethereum
  • Technology
  • Blockchain
  • AI
  • NFT
  • Thanks for joining us
© 2025 Crypto Observer. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.