Is Solana's Q3-2023 Performance a Game Changer?

Adekunle Joshua

Solana stands out as one of the top-performing cryptocurrencies in the market, surpassing various aspects, not limited to price

During Q3-2023, the cryptocurrency witnessed a remarkable 17% growth in its market capitalization, culminating in an impressive $8.4 billion market cap by the quarter's end

Additionally, its revenue experienced significant increases, with a 10% rise in terms of 185,400 $SOL and a substantial 19% surge, almost reaching $4 million in Q3-2023

While Solana's network activity showed a slight decline in Q3-2023, the average one-month retention rate held strong at 17.9%, indicating a growing number of holders

Solana's Q3-2023 report also reveals advancements in security and decentralization, evident in its Nakamoto coefficient of 29.