Solana (SOL) is poised to establish itself as the third major cryptocurrency asset, according to global investment giant Franklin Templeton. The firm’s digital assets unit highlights the significant growth of Solana’s network, particularly in terms of total fees and decentralized exchange volumes over the past year. Franklin Templeton expects this growth to continue as Solana’s network effects strengthen and its performance improves. The network’s low fees, transaction latency, and high data throughput set it apart from other networks. Currently trading at $143.34, SOL is the fifth-ranked crypto asset by market cap, with a 3% increase in the past 24 hours but a more significant drop of over 22% in the past month.
Franklin Templeton also believes that Solana is uniquely positioned to be the focal point of adoption in various sectors of the crypto space. These sectors include decentralized physical infrastructure, payments, compression non-fungible tokens (NFTs), and centralized limit order books (CLOBs). The investment giant expects activity in the Solana network to surge in the coming months due to potential airdrops and the continued popularity of memecoins.
Furthermore, the Solana ecosystem is expected to benefit from upcoming airdrops, which will contribute to its overall wealth effect. The network has also witnessed a steady rise in memecoin activity, indicating a sustained interest in the Solana network.
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