The native cryptocurrency of the Solana network – SOL – is making a huge victory in reclaiming its position on the lips of the market after a slightly rough year. This has led to new investments and development projects in this high-performance Blockchain platform that has placed SOL within the trendiest Crypto-tracking sites.

Primarily, SOL has benefitted from enhanced network reliability and growing interest in the world of DApps, positive partnerships that have increased trust in Solana. Having resolved the technical problems that often affected the network earlier, Solana can now sustain large transaction throughput, thus proving its sustainability in the long run.

SOL one of the most bullish coins of the last months has had a significant boost in price due to stellar DeFi growth. New protocols and platforms that are built on Solana have also attracted a lot of liquidity with Total Value Locked (TVL) in Solana-based DeFi projects reaching fresh highs.

Besides stimulating the demand of SOL tokens this raise has also demonstrated the capabilities of the blockchain to accommodate more elaborate financial applications.

The sector mainly composed of NFT (Non-Fungible Token) on the Solana has also contributed to the comeback as well. Solana is even cheaper and faster and thus has become a viable option for artists creating NFTs and people interested in buying them.

A number of notable NFT initiatives have started on the Solana blockchain, which got the attention of both cryptocurrency audience and traditional media.

It is interesting to note that institutional investment has started flowing into Solana as several crypto investment products are now available to provide direct access to SOL. This has helped in enhancing the liquidity of the token for the traditional investors thus making it safer and appealing to investors who wish to invest in more than one token while in the market.

There is a continuous increase in Solana developers, and plenty of hackathons have been hosted, and grants provided to foster development. This focus on the establishment of a strong ecosystem has created a great number of applications which built on Solana, including decentralised exchanges, gambling, and other sectors further enriching the use case of SOL token.

Nevertheless, some of the analysts call for moderation when it comes to investing in Solana highlighting the fact that the platform continues to face healthy competition from other smart contracts. As we know, the cryptocurrency market is still rather unstable, volatile, and this factor may significantly affect SOL’s price depending on overall market sentiment.

Thus, Solana’s position as one of the trending cryptocurrencies indicates the constantly changing picture of the blockchain industry as the platform adapts and counteracts the problems it will face in the future. This assessment is made subject to the platform’s technical evolution, ecosystem and user-friendliness and ability to attract and retain users in a competitive market thereafter.