This week’s Wealth Mastery Coin Review will look at the Solana Ecosystem to focus on the Top 5 Solana Altcoins. We’ll also discuss Solana’s current state and how FTX Exchange’s downfall has affected the protocol.
- What are the Top 5 Solana Altcoins?
- The Graph – GRT
- Waves – WAVES
- Audius – AUDIO
- Ren – REN
- Solana – SOL
- What is the future of Solana?
- How do you buy Solana Altcoins?
- Are Solana Altcoins worth buying?
What are the Top 5 Solana Altcoins?
Last week we discussed the Top Five Polygon Altcoins. So this week, we’re looking at the Top 5 Solana Altcoins and checking the temperature of the Solana Ecosystem. It’s no surprise that Solana has fallen into troubled times in 2022. Its exposure to FTX can not be understated. But this is crypto, after all, and if Ripple Labs can continue doing what they do. Maybe, just maybe, Solana will be able to crawl out of the hole they’ve dug themselves into. This list will not be the end-all-be-all regarding Altcoins on Solana. It won’t be comprised of Altcoins available exclusively on Solana either. This list will comprise the projects with the most significant Market Caps currently utilizing the Solana blockchain. So it should be a surprise that while Marinade Staked SOL is the number one protocol by Total Value Locked on Solana, with less than a $15 Million Market Cap, it is miles away from the lowest Altcoin on the list, Ren, with its almost $90 Million Market Cap. This also helps indicate just how thin the ice Solana has found itself on.
The Graph – $GRT
The Graph (GRT) is a decentralized protocol that gathers and indexes important information from blockchain networks. Starting on Ethereum, The Graph has helped gather hard-to-read data and simplified it into easily queried information. For example, before The Graph, if you wanted to know all the owners of a specific NFT with a particular trait. You must look up the data on each transfer of all NFTs in the series and cross-reference it. As The Graph says, “Indexing blockchain data is really, really hard.” Due to the sheer amount of resources required to index data from Smart Contracts, it’s not manageable for many to even attempt it. The Graph has solved this problem and, in doing so, enables protocols like OpenSea to let users search by traits and owners’ addresses. This is executed via Sub-graphs to retrieve specific information from a blockchain.
Solana announced its integration with The Graph’s indexing service in November 2021 at Solana’s Breakpoint Conference. Adding The Graph to the Solana ecosystem means that developers could connect dApps with real-time information needed to execute complex transactions. Allowing for historical data on Solana to be accessed by anyone for the first time. The Graph also operates its Sub-graph API services on BNB Chain, Polkadot, NEAR, Polygon, Avalanche, Fantom, and Cosmos. Functioning similarly to Chainlink, The Graph is a very solid project.
Waves – $WAVES
Dubbed the “Russian Ethereum” when it was first released. Waves (WAVES) is a full-fledged smart contract protocol that has been operating since 2016. Waves have stood the test of time as it continues building useful blockchain products when so many others have fallen out of favor. As a proof of stake protocol, Waves is a fast and cost-effective…
Head of Research Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin. As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom. “The swarm is headed towards us” -Satoshi Nakamoto
