Altcoins
Three Altcoins to Stack as ‘Defeated’ Cryptocurrency Solana Makes a Comeback
Solana is on fire again. Looking at the current market scenario, Altcoin Buzz Analyst said it was impressive considering the project appeared to have been defeated in December 2022. Dubbed the “comeback kid” of crypto, Solana was valued at just $8 in December 2022, but today it stands strong at around $178. This impressive performance of the SOL token generally benefits the broader Solana ecosystem, with many projects under its umbrella showing positive trends. As we approach what could be a bullish end to 2024 for altcoins, here are three gems of the Solana ecosystem to keep an eye on.
Jupiter
Jupiter, Solana’s leading swap aggregator, is booming. According to DeFi Llama, it has a total value locked (TVL) of $553 million, ranking sixth among all Solana DeFi projects. Since January of this year, Jupiter’s growth has been remarkable.
The JUP token, launched in January 2024, is currently trading at just over $1.10, with a market cap of $1.385 billion. Of the 10 billion units in circulation, 1.35 billion tokens are in circulation.
Pyth Network
Pyth Network is a financial oracle that provides real-time price feeds for cryptocurrencies, stocks, currency pairs, ETFs, and commodities. Pyth’s update frequency surpasses competitors like Chainlink, with over 90 million updates per day, ensuring extremely accurate price data.
The current price of PYTH is around $0.38, with a market cap of just under $1.4 billion. Out of a maximum supply of 10 billion, there are 3.6 billion tokens in circulation.
io.net
io.net is a key player in the decentralized cloud computing industry, providing on-demand decentralized access to GPUs for machine learning and AI applications. This decentralized approach offers significant advantages over centralized competitors, such as cost-effectiveness, scalability, and immediate access to GPUs.
The io token, used for GPU rentals and other services, is currently priced at $2.79. Its market cap is $278 million, with 95 million tokens in circulation out of a maximum supply of 800 million.