Solana (SOL), which suffered a major collapse after FTX's bankruptcy in November 2022, but rose from its ashes again in 2023, has recorded a record increase of over 1500% since January 2023.
SOL, which rose from approximately 9.7 dollars to 157 dollars, rose to over 200 dollars in March.
While Solana has made a name for itself thanks to its successful performance, global investment giant Franklin Templeton, which manages 1.5 trillion dollars, claimed that Solana is ready to become the third largest cryptocurrency after Bitcoin (BTC) and Ethereum (ETH).
A recent report by Franklin Templeton analysts stated that the Solana network experienced significant growth in total fees and decentralized exchange (DEX) volumes last year.
Analysts expect the growth in the Solana network to continue and stated that the Solana network is durable despite the problems experienced in the network.
Stating that the durability of the Solana network, as well as the ongoing airdrops and the success of SOL-based mem tokens, have a positive impact on the SOL price, analysts pointed out that SOL has a strong chance to be among the top three cryptocurrencies.
“Cryptocurrency enthusiasts are wondering what the next big thing in crypto could be. While we don't know the exact answer, we think there's a strong chance it could happen in Solana.
Because the Solana network has proven how strong it is with its durability, ongoing airdrops, mem token success and resurgence.
That's why we believe Solana has the potential to become the third largest cryptocurrency on the market.”
*This is not investment advice.