Key Takeaway:
- Solana’s total value locked dropped by 30% in April.
- Despite the decline, Solana has the potential to reach new highs soon.
- Stripe’s re-entry into the crypto market further validates Solana’s potential.
Solana’s Potential for Growth
Solana experienced a significant 30% decline in total value locked, as reported by DefiLlama. The blockchain’s TVL dropped from $4.64 billion in March to $3.8 billion currently. This decrease can be attributed to the waning interest in meme coins within the blockchain and the overall downturn in Bitcoin performance following its rapid growth in March.
Expert Predictions for Solana
Despite the recent challenges and decline in activity, Tristan Frizza, the founder of Zeta Markets, remains optimistic about Solana’s prospects. Frizza believes that Solana is well-positioned to surpass its all-time high, citing its leadership in active addresses, transactions, and volumes. He sees the network’s recent improvements and resilience as key drivers for future growth.
Solana’s Position in the Market
Recent developments, such as the return of Stripe to the crypto market and the demonstration of payments using Solana, bolster the blockchain’s potential to attract retail users and drive sales at scale. With the support of a major player like Stripe, Solana is poised to maintain its position as one of the top three ecosystems in the current cycle. Tristan Frizza confidently predicts Solana’s ascent to becoming a top three blockchain by market cap.
