Top 10 Solana (SOL) ecosystem projects by development activity

TL;DR

Due to recent growth, Solana and its projects have gained popularity. Ecosystem meme coins such as Dodewifhat (WIF) and Bonk Inu (BONK) have seen significant declines after a substantial rise earlier this year. The unsurprising leader

Solana and numerous projects built from it have increased in popularity in 2024. Some factors that could have contributed to this could be the SOL bull run in late 2023 and early 2024, the growing community and the innovations in the ecosystem.

Crypto analytics platform Santiment recently outlined the top 10 Solana-based projects in terms of development activity over the past 30 days.

Somewhat expected, the first place belongs to Solana herself, who collected a score of 186.33. It’s worth noting that the protocol’s native token, SOL, has seen a drop since the end of July, roughly 30%, and is currently trading around $127 (according to Coingecko data).

Wormhole ranks second with a ratio of 90.5. It acts as a bridge connecting various blockchain networks such as Solana, Ethereum, BNB Smart Chain and others. It allows users to transfer digital assets and data across these blockchains without a centralized intermediary.

Pyth Network is third, with a score of 68. It works like a decentralized oracle network where multiple providers contribute to a collective data stream.

JITO and Neon complete the top 5 list. The other Solana-based projects down the line include Drift, Orca, Helium IOT, Helium Mobile, and Metaplex.

The Disappeared

It is interesting to note that meme coins, which are part of the Solana ecosystem, did not make the list. These tokens, such as dogwifhat (WIF), Bonk Inu (BONK) and many more, were among the trending topics in the crypto space earlier this year due to their skyrocketing prices.

However, its progress has stalled lately. WIF, the largest Solana-based meme coin by market cap, is currently trading around $1.52, representing a drop of over 70% from the ATH recorded in April.

BONK (the second largest) is worth about $0.00001666 right now, or 60% less than its peak in May.

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