Solana's TVL Skyrockets in Q4 2024, Outpacing Tron and Fueling Altcoin Surge

Solana's total value locked (TVL) experienced explosive growth in Q4 2024, surpassing Tron to rank second among all blockchains, according to Messari's latest report. This surge is attributed to the rise of meme coins like Pump.fun and the overall expansion of decentralized finance (DeFi) on the Solana network. Several altcoins built on Solana are gaining traction, including Solaxy ($SOLX), MIND of Pepe ($MIND), $BEST, Fartcoin ($FARTCOIN), and ai16Z ($AI16Z). Solaxy, the native currency of a new Solana Layer-2 network, has raised over $19 million in its presale. MIND of Pepe, an AI agent for crypto research, operates its own X account and can launch new tokens. The $BEST token, associated with a crypto wallet, has secured over $9.5 million in its presale since November. Fartcoin, a meme coin that rewards users for fart jokes, is up 942% in the last 365 days and trades at $0.61. Launched in late 2024, ai16Z combines AI with blockchain technology and is currently trading at $0.589 on exchanges like Bybit, Kucoin, Bitget, and Gate.io. While these altcoins present opportunities, the crypto market's volatility necessitates cautious investment strategies.