According to recent analysis by CoinGecko, Solana has emerged as the top choice among investors, commanding a staggering 49.3% share of global interest in blockchain ecosystems in 2024.
The data, collected from internet search queries between January 1 and March 18, reveals a significant surge in investor attention towards Solana. This surge can be attributed to SOL’s remarkable growth since 2021, the development of ecosystem projects like Pyth, and the rising popularity of meme tokens such as Dogwifhat (WIF).
In second place is Ethereum, capturing 12.7% of investor interest. Despite its lower percentage, Ethereum maintains a strong position due to its brand awareness and reputation. However, there is a notable shift in investor attention towards second-layer networks built on the Ethereum blockchain.
The Binance-supported BNB Chain secured the third spot with 5.4% of investor interest, largely driven by the growth of BNB. Solana’s approach to record levels has further boosted its appeal among investors.
Among layer-2 network ecosystems, Arbitrum and Base stand out, capturing 3.3% and 3.2% of investor interest, respectively. Both are built on the Ethereum blockchain. Arbitrum’s leadership in terms of locked value volume and Base’s association with Coinbase, the largest American crypto exchange, have contributed to their popularity.
The recent activation of the Dencun hard fork on the Ethereum mainnet has further influenced investor sentiment. The implementation of EIP-4844, aimed at reducing transaction fees in layer-2 networks, has particularly benefited projects like Base. Following the update, Base experienced a significant increase in daily transaction volume as network fees plummeted.
Overall, Solana’s dominance in global investor interest reflects its growing significance within the blockchain ecosystem, signaling a shifting landscape in the crypto market.
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