Since October 2023, Solana (SOL), often called the Ethereum killer, has seen significant network and price action growth. However, everything points out that the most notable growth in recent months has been in SOL’s price, which has surged over 368% year-to-date, taking the token from a low of $7.95 in 2022 to a now staggering $64.20, with an annual high of $68. But are these numbers reflective of fundamental growth, or are there discrepancies between price action and network progress? Growth In Network And Price Action Fuel Optimism According to Ally Zach, a research analyst at Messari, SOL has experienced significant growth since its December 2022 lows. The price of SOL has increased by over six times, while active addresses and Total Value Locked (TVL) have doubled. Initially positioned as a decentralized finance (DeFi) hub, Solana has diversified over time, introducing new infrastructure and tools, such as compressed non-fungible tokens (NFTs), which have led to the emergence of new consumer applications on the platform. According to Zach’s latest report, throughout most of 2023, consumer apps served as the primary entry point for fir ..
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