The crypto market has been trading mixed lately, but amidst the chaos, Solana has emerged as a standout performer. Over the last 18 months, Solana has consistently outpaced other blockchains, even surpassing Ethereum in several key metrics. Now, analyst Altcoin Buzz has identified four altcoins within the Solana ecosystem that are worth keeping an eye on.
Coin 1: Jupiter
Jupiter launched in January this year, kicked off with an airdrop of 1 billion JUP tokens. Wallets that used Jupiter received at least 200 JUP and the community is set to receive another 1 billion JUP tokens over the next three years, with the next distribution scheduled for January 31st. Jupiter’s focus on aggregating liquidity across Solana’s ecosystem makes it a crucial component for traders looking for the best prices.
Coin 2: Raydium
Raydium is the largest DEX by Total Value Locked (TVL) on Solana and the fourth-largest DeFi protocol on the network. It has maintained a daily trading volume of approximately $330 million, generating $550 million in fees over the last year. The RAY token has surged by over 1,000% in the last year, currently priced at $1.71, with the potential for an 8x return.
Coin 3: Jito Network
The innovative use of MEV to enhance staking rewards gives Jito a unique edge in the liquid staking space. Its strong TVL and continuous user incentives suggest long-term sustainability and growth. It offers the highest TVL in the Solana ecosystem, with users receiving JTO-SOL tokens as liquid staking rewards.
Coin 4: Orca
Orca is another DEX on Solana that has been operational since 2021, utilizing a Concentrated Liquidity Automated Market Maker (CLAMM) model. Despite recent declines, ORCA has seen a 200% increase over the last 12 months. With a current price of $2.15 and over half of its total supply already in circulation, Orca has the potential for further growth as it continues to innovate in the DEX space.
