Solana's Growing Ecosystem

Solana's Growing Ecosystem

By SoyRass | Cryptoworldstandard | 5 Sep 2021


Solana has recently been knocking it out of the park with the recent price action thanks in part to the ventures it is expected to embark in.  Solana's price has gone from $30 to around $150 within a months time.  A number of new projects are flocking into the Solana ecosystem leading institutions and Silicon Valley to take notice and invest capital in the future of the project.  

 

 

Institutional investor interest saw Solana Labs raise $314 Million, this is one of the largest fund raising rounds of all time in crypto, Solana plans to use the capital raised to create decentralized applications and platforms that will be built on Solana's technology.  Growing the ecosystem will make it comparable to the other titans in the space such as Ethereum and Cardano.  The partnerships going into this project are massive and it is being set up to become a large player is the space. 

 

 

NFT's in the Solana ecosystem have also drove up the price of the cryptocurrency with the recent rise in popularity of the NFT projects in the Solana network.  With one of the most popular NFT drops from the Solana Network being Degenerate Ape Academy which sold out more than 10,000 units in just 8 minutes this in turn caused the price of Solana go up about 36% to a price of $63 at the time.  This seems like a good project for people to look into if they are looking to invest into Crypto or into NFT's.

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