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Three Altcoins to Stock Up on as Crypto’s ‘Defeated’ Coin Solana Makes a Comeback
Solana is on fire again. Looking at the current market scenario, Altcoin Buzz Analyst said this is impressive considering the project looked defeated in December 2022. Dubbed the “comeback kid” of cryptocurrencies, Solana was valued at just $8 in December 2022, but is currently trading strong at around $178. This impressive performance of the SOL token generally benefits the broader Solana ecosystem, with many projects under its umbrella showing positive trends. As we approach what could be a bullish end to 2024 for altcoins, here are three Solana ecosystem gems to keep an eye on.
Jupiter
Solana’s main swap aggregator, Jupiter, is booming. According to DeFi Llama, it has a total value locked (TVL) of $553 million, ranking sixth among all Solana DeFi projects. Since January of this year, Jupiter has seen remarkable growth.
The JUP token, launched in January 2024, is currently priced at just over $1.10, with a market cap of $1.385 billion. Of the 10 billion maximum supply, 1.35 billion tokens are in circulation.
Pyth Network
Pyth Network is a financial oracle that provides real-time price feeds for cryptocurrencies, stocks, foreign exchange pairs, ETFs, and commodities. Pyth’s update rate surpasses that of competitors like Chainlink, with over 90 million updates per day, ensuring highly accurate price data.
The current price of PYTH is around $0.38, with a market cap of just under $1.4 billion. Out of a maximum supply of 10 billion, there are 3.6 billion tokens in circulation.
i.net
io.net is a key player in the decentralized cloud computing space, offering on-demand decentralized GPU access for machine learning and AI applications. This decentralized approach offers significant advantages over centralized competitors, such as cost efficiency, scalability, and immediate access to GPUs.
The io token, used for GPU leasing and other services, is currently trading at $2.79. It has a market cap of $278 million, with 95 million tokens in circulation out of a maximum supply of 800 million.