Marinade (MNDE) Entered the 3 Best SOL Tokens for Investment in 2024

Bittime - Marinade (MNDE) enters 3 tokens Best Solana (SOL) to invest in 2024. How can this new crypto asset come out on top? The answer is in this article!

Investors are now looking at new tokens emerging on the Solana blockchain network. This is driven by the boom in meme coins which utilize Solana infrastructure to produce fantastic value transactions.

Decentralized finance (DeFi) data from DefiLlama further powers the growth of this ecosystem. The total value locked (TVL) in Solana tokens reached $4.17 billion (around IDR 68.3 trillion). This figure has almost tripled from $1.53 billion (around Rp. 24.9 trillion) at the beginning of the year.

Increased trading and investment activity in the best coins and protocols in the Solana ecosystem is driving the increase in daily volume of decentralized exchanges (DEX). The combined daily volume value of DEX jumped from $777 million (around Rp. 12.7 trillion) to $900 million (around Rp. 14.7 trillion).

3 Best SOL Tokens for Investment in 2024

Apart from investing in Solana's native token (SOL), investors can also look at various innovative protocols built on this blockchain network. Here are three projects and their tokens that are worth considering according to Finbold:

1. Marinade (MNDE)

Marinade (MNDE) is a staking optimization platform that helps investors maximize profits from staking SOL. As a proof-of-stake network, Solana's security relies on validators staking their native token (SOL).

By staking SOL on the Marinade protocol, investors contribute to the decentralization of the network while earning proportional rewards based on the amount they stake. Marinade is here to simplify the staking process and maximize results through an automated system.

Currently, MNDE is trading at $0.31 (around IDR 5,067) with a TVL of $1.75 billion (around IDR 28.6 trillion). This value is 22 times higher than the token's market capitalization, indicating potential oversold (too cheap) in the DeFi sector.

2. Raydium (RAY)

Raydium (RAY) is one of the most popular decentralized exchanges (DEX) in the Solana ecosystem. Most Solana tokens are traded on Raydium, including the famous meme coin.

With a significant portion of the total value locked and trading volume, RAY becomes an interesting token to consider. This decentralized exchange controlled $260 million (around IDR 4.2 trillion) of the total trading volume of $904 million (around IDR 14.7 trillion) in the Solana ecosystem in the last 24 hours. RAY's price is currently at $2.04 (around IDR 33,544) with a market capitalization of $527 million (around IDR 8.6 trillion).

3. Jupiter (JUP)

Jupiter (JUP) is a new token that adds to the long line of innovative projects in the Solana ecosystem. Jupiter is a derivatives-focused platform, allowing Solana speculators to trade perpetual contracts in a decentralized manner.

JUP is currently trading at $1.17 (around Rp. 1,915) and has a market capitalization of $1.57 billion (around Rp. 25.7 trillion), occupying the 66th position according to the CoinMarketCap index.

However, it should be noted that only 13.5% of JUP tokens are currently in circulation following the airdrop (free distribution) to early Solana investors.

These conditions mean that the current time may not be ideal for buying JUP, even though Jupiter as a project as a whole is considered promising in 2024.

The Solana ecosystem is growing rapidly with the presence of promising tokens and projects this year. Investors need to learn to identify the best tokens in the Solana ecosystem and the right entry points to maximize their investment returns.

Conclusion

The Solana ecosystem offers a variety of exciting opportunities for crypto investors. By choosing the right tokens and implementing a careful strategy, you have the potential to achieve significant profits.

Research, analyze and diversify to maximize opportunities and minimize risks in your investment journey in the world of Solana.

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Learn How to Buy Crypto on Bittime.

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