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Highlights
- A new poll ranked Solana as one of the most attractive crypto assets based on potential growth
- Since its launch in August, Mango (MMGOO) has grown to US$0.307, where it sits as of 1pm on October 8. This represents a 30.5% increase
- Radium (RAY) has experienced 400% growth since late July of this year
Solana has gained a lot of popularity and credibility in its short existence. From its launch, in April 2020, until now, Solana’s platform has made leaps and bounds and has provided investors with a viable alternative to the most popular smart contract-driven blockchain, Ethereum.
In fact, Solana’s native token (SOL) is ranked seventh by market capitalisation with a total market cap of US$46.98 billion, according to CoinMarketCap.
Furthermore, a new poll conducted by digital asset investment firm, CoinShares, reveals that Solana is one of the most attractive crypto assets based on potential growth. The poll ranked Solana as seventh top ranked with Ethereum being the top ranked.
What Are the Top Solana Cryptos
While Ethereum’s network offers a plethora of decentralised applications (DApps) and NFTs, Solana also hosts a number of cryptocurrencies. Here are the top digital currencies on the Solana platform.
Mango (MNGOO)
Market Cap US$307,066,096
Launched on August 12, 2021, Mango attempts to merge the liquidity and usability of centralised finance (CeFi) with the permissionless innovation of decentralised finance (DeFi) at a lower cost. To this end, Mango offers margin trading, lending, and perpetual futures as well as decentralised user governance to decide future development and innovation.
Being on the Solana network means Mango is able to offer low latency, low transaction cost and full decentralisation – three key aspects it needs to achieve its vision. Solana intends to be the best in offering financial services.
Mango launched only a couple of months ago with a price of US$0.235. Since then it has grown to US$0.307, where it sits as of 1pm on October 8. This represents a 30.5% increase.
Image Source: © Etkai7 | Megapixl.com
Raydium (RAY)
Market Cap US730,743,599
Launched in late February, 2021, Raydium is the second most popular crypto built on the Solana blockchain, and is a new automated market maker (AMM).
Raydium allows access to the order flow of the entire Serum ecosystem by providing liquidity across its ecosystem through a central order book.
Its native token – the RAY – is used for liquidity mining incentives, staking, eligibility for new project launches as well as participation in future governance.
RAY has experienced solid growth since late July of this year, rising from US$2.46 on July 20 to US$10.22 where it sits today. This represents a growth of over 400%.
Solanium (SLIM)
Market Cap US$106,381,036
Launched in May 2021, Solanium is a decentralised platform for fundraising and trading. The platform includes a decentralised exchange (DEX) wallet management, governance and a launchpad.
The price of SLIM peaked on September 15 at US$5.58 but has since plummeted to US$2.13, losing more than half its value.
Solana has achieved since its inception and many investors consider the platform as a viable alternative to Ethereum, which has recently come under scrutiny for its high costs and low speeds. With Solana providing the same service on a fresher, faster and cheaper platform, look for Solana and its various cryptos to experience growth in the future.
