Messari: Solana’s Q2 2023 Performance

Solana's Q2 2023 Performance by Messari

Messari researcher James Trautman delves into Solana’s performance in Q2 2023, which has had its ups and downs. Due to the SEC’s charges against exchanges involving SOL, Solana suffered losses. However, in May 2023, there was a surge in payer activity and daily non-voting transactions.

In Q1, the BONK airdrop and NFT temporarily increased Solana’s daily active users, but it returned to its basic level by the end of 2022. The surge in May 2023 coincided with user accounts interacting with an unknown program. Solana’s Nakamoto coefficient in Q2 was 32, indicating a higher degree of decentralization compared to other Layer 1s.

Solana Foundation’s Q2 ecosystem growth strategy includes convertible grant support, AI grants, and Grizzlython. Notable ecosystem developments include the launch of the Tensor Compressed NFT market, Solana Game SDK, and Helium migration. Looking ahead to the future of the Solana ecosystem, we can expect the successful implementation of Firedancer, the new Token-22 standard, Neon EVM, and the expansion into AI.

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Reference: https://twitter.com/messaricrypto/status/1679234195502301184

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