Solana has become one of the most developing Blockchain ecosystems in recent months. It’s incredibly on the rise! Solana will grow 100 times by 2030. This is VanEck’s bold prediction for the SOL. But according to Crypto expert Lawrence Mike Woriji, the SOL will not enjoy this 10,000% rally alone. The expert predicts that the prices of 3 altcoins in its ecosystem will explode along with SOL.
First ranked altcoin: Solend (SLND)
A recent Messari report revealed that Solana is experiencing a boom in DeFi activity in Q3 2023. And Solend was at the center of this explosion. Solend is a decentralized lending and borrowing protocol on Solana. The token plays an important role in Solana as it fills a major financial need within the network.
Here’s a good start. Solend attracted $100 million in deposits just a month after its launch. According to DeFillama, it currently has a TVL of $74.13 million. It also ranks as the third highest in Solana. The altcoin uses an algorithmic system that determines interest rates and collateral requirements. This allows users to leverage their crypto assets and earn interest.
Additionally, Solend allows users to deposit assets into their accounts. In return, they can earn interest or use these deposits as collateral to secure loans without lengthy underwriting procedures. Solend functions as a self-propelled, autonomous application. The altcoin project simplifies the lending process using smart contracts. Meanwhile, Solend collects protocol fees from loans. It uses these fees to maintain its operations. They also contribute to an insurance fund for the platform. Solend’s Treasury also provides insurance in case of hacking or exploitation.
Marinade Finance (MNDE) comes in second place
cryptokoin.com As you follow from , SOL has increased by 70% in the last 30 days. In the same time period, MNDE pumped 61%. Does this mean that MNDE will also grow 100-fold by 2030? I’m not sure about that. However, it is definitely a high potential altcoin project. That’s why he’s ahead of Solana in terms of TVL. Marinade’s TVL of $314.31 million accounts for more than half of Solana’s TVL of $380.18 million.
Marinade Finance is a non-custodial liquid staking protocol on Solana. The project aims to provide a secure way to stake SOL tokens across 130+ top Solana validators. Marinade Finance was launched in 2021 during the Solana & Serum Hackathon. One of its key features is the ability to unlock liquidity while collecting staking rewards.
Meanwhile, Marinade Finance recently launched a service called Marinade Native. And that has accounted for some of its recent growth. Marinade designed Native to solve the smart contract risk associated with replacing SOL with mSOL while maintaining an expected return of approximately 7%. Marinade Native combines liquid and direct staking features. This makes it a less risky investment for stakeholders.
Last ranked altcoin: Orca (ORCA)
ORCA is a Solana-based DEX. Currently, Solana is ranked 5th for TVL. According to DeFiLlama, its current TVL is $52 million. ORCA has a community approach that makes buying crypto easy for users. It is also an automatic market maker (AMM). The altcoin project facilitates decentralized trading with user-contributed “liquidity pools.” It also uses a powerful price discovery mechanism. ORCA coin powers the entire Orca DEX. It leverages the strengths of Solana to perform fast and cost-effective transactions.
Additionally, Orca has impressive rewards for LP holders. Users providing liquidity can claim 0.3% on transaction fees and nautical-themed NFTs. Orca uses a feedback loop to listen to users’ concerns. It updates its features to accommodate this feedback. Thus, ORCA runs an intuitive protocol that offers a simple experience for both new and experienced users. ORCA’s ease of use is its biggest appeal. As Solana’s adoption rate continues to grow, ORCA will be well positioned as a DEX where people can buy crypto.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. cryptokoin.comWe strongly recommend that you do your own research before investing.