Solana 5th Anniversary: Decreased Activity, Firefighter Coming Soon

Odaily Planet Daily News: Solana, the sixth largest blockchain in the world, celebrated its 5th anniversary on Sunday. The network activity has been continuously declining recently, with active addresses decreasing every month since the peak in November last year. The main reason is the decrease in popularity of the meme platform Pump.fun. The platform once set a record of generating $100 million in revenue in 217 days, but its popularity has declined after multiple scandals. Last Saturday, the proportion of tokens graduating from the platform to Raydium dropped to a historic low of 0.66%. Nevertheless, SOL prices have rebounded from less than $10 after the FTX crash in 2022 to around $127 currently. Jump Crypto's Firedancer client is expected to be launched by the end of the second quarter of this year, which will enhance transaction processing capabilities and network stability, helping Solana achieve its goal of 1 million transactions per second. In addition, multiple asset management companies have submitted Solana ETF proposals, and analysts believe that their chances of approval are high. （The Block）