Camille Lemmens, one of the analysts of the popular crypto analysis channel and platform Altcoin Buzz, listed 3 Solana-based projects that investors should follow in the short term. Let’s take a look at the analyst’s expectations, keeping in mind that predictions are not certain.
3 Solana projects to watch in the coming weeks
Solana, one of the altcoin giants, had a hard time after the FTX crash. However, it’s coming together nicely, and here are the best Solana projects to look out for. At this point, analyst Camille Lemmens uses Solend (SLND) as her first choice.
Solend (SLND)
Solend Protocol is a lending protocol. As stated on their website, this is an “autonomous interest rate machine for lending to Solana.” According to DeFillama, its TVL is $43.4 million. This makes it the third largest protocol in Solana-based TVL.
The protocol offers 60 assets that you can borrow and lend across 20 pools. SLND’s market cap is only $16.8 million.
ORCA
ORCA is a Solana-based decentralized finance platform. It aims to provide users with a seamless and efficient DeFi experience by combining high-speed transactions with a wide range of financial services.
This dApp allows users to provide liquidity to various DeFi protocols and earn rewards in return. It offers staking services that allow users to earn rewards by locking ORCA. Additionally, ORCA owners have a say in the management of the platform. They can vote on proposals and changes to the protocol. This makes the Solana project a community-oriented cryptocurrency.
According to DeFillama, its TVL is $35.73 million. This makes the project the fourth largest protocol in Solana TVL.
Lifinity
Lifinity is a Solana-based project focused on the creation and management of NFTs and digital collectibles. It offers a range of tools and services tailored to the NFT ecosystem.
Thus, Lifinity allows users to easily create and create NFTs. This empowers artists, creators, and developers to tokenize their cryptocurrencies and creations. Additionally, Lifinity provides a marketplace for users to buy, sell, and trade NFTs. It offers a user-friendly interface and low transaction fees, making it attractive to both artists and collectors.
According to DeFillama, its TVL is $4.17 million. Additionally, its total and maximum supply is 100 million tokens.
Magic Eden adds support for Solana NFTs
Meanwhile, NFT platform Magic Eden announced that it will support Solana’s compressed NFTs (cNFTs) to provide a cost-effective and scalable alternative to owning digital collectibles.
cNFTs differ from regular Solana NFTs because their data is compressed and stored outside of the Blockchain. Therefore, production in larger quantities is more convenient as it requires less wages.
cryptokoin.com You can follow the hottest developments from the NFT world, which we report as, on this page.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel!