Overview of Solana ecosystem and user data

Solana ecosystem and user data overview

Solana is known for its low transaction costs and fast confirmation times, and has found its advantage in low-value transactions. Messari has delved into some key insights and trends that impact the Solana ecosystem and user activity.

Despite the decrease in on-chain liquidity, Solana’s developer ecosystem has shown a rebound. They have been actively building new features, particularly in the consumer space, including programmable NFTs and compressed NFTs. While Solana’s TVL has depreciated since early 2022, it is worth noting that TVL is mainly a measure of DeFi protocols. Solana’s focus on consumer applications has led to a shift in user activity from DeFi to consumer protocols.

As the DEX and NFT markets transition to emerging consumer applications, Solana’s market landscape continues to evolve, with the rise of game application interactions and the introduction of new consumer platforms indicating a change in user preferences. Solana has successfully attracted new users, but long-term user retention remains a challenge. To sustain growth, Solana needs more attention-grabbing and unique applications to provide a more attractive user experience.

• Variant Fund partner discusses asset-first or idea-first approach to Web3 social networks
• With a valuation of nearly $100 million and 120,000 Steam wishlists, can Abyss World, the flagship blockchain game on Sui, make a name for itself?
• Modular account abstraction overview: what is it? What are the developments?

The Solana application ecosystem has undergone a significant shift from DeFi to consumer-centric applications. Solana’s infrastructure advantages and lower unit costs make it an advantageous choice for consumer applications. Differentiation and user retention remain key.

Reference: https://twitter.com/messaricrypto/status/1663968723773046784

We will continue to update Blocking; if you have any questions or suggestions, please contact us!