Three Solana Altcoins You Should Keep an Eye on

Solana is on fire again. The chain is making its way up the pricing chart again. That remains an amazing feat, considering it looked like game over

Solana is once again on a roll, making its way up the pricing chart. Considering it looked like game over for Solana in December 2022, this is quite an amazing feat.

Solana remains the comeback kid for me. From $8 on Dec. 22, after the FTX debacle, to $178 today. Now, when Solana is on fire, that typically spills over to its ecosystem. Many projects will show green charts as well. So, that’s why today, I will introduce three Solana altcoins. These are three projects you should keep an eye out on. So, let’s take a closer look.

1) Jupiter ($JUP)

Jupiter is Solana’s leading swap aggregator. According to DefiLlama, its perps section has $541 million in TVL. This puts it in 6th spot of all Solana DeFi projects. Since January this year, it has only been growing.

An aggregator always looks to get the possible swap option available. So, Jupiter offers a couple of great features, for instance:

The $JUP token launched in late January 2024. There was also a big airdrop campaign. Come late January 2025, there will be another airdrop round. Use the Jupiter app, and you should receive that airdrop. For example, swapping in your Phantom wallet is on Jupiter. Or buying droplets on Drip Haus happens with Jupiter as well.

You can also stake your $JUP and vote on proposals. This rewards you with $JUP and other Solana ecosystem tokens. The more you stake, and the more proposals you vote on in a given period, the higher your rewards will be. The current $JUP price is just over $1. There’s a max and total supply of $10 billion $JUP. Only 1.35 billion circulate. Its market cap is $1.3 billion.

2) Pyth Network ($PYTH)

Pyth Network is an oracle. To be precise, it’s a financial oracle. So, to clarify this, oracles are crucial for blockchains. That’s because a blockchain can’t communicate with the outside world. A blockchain can’t open a door to check the weather conditions, so to speak.

That’s where oracles step in. They connect a blockchain with real-world data. That can be anything. For example:

However, Pyth Network concentrates on financial services. It offers real-time price feeds, among others, for services like:

Currently, Pyth has well over 500 data feeds, almost 400 Apps use it, and 70+ blockchains use its data. This includes, of course, Solana. But it also services EVM chains, Sui, Aptos, NEAR, and some Cosmos chains.

Another feature that stands out, is Pyth’s update frequency. It updates more often and faster than, for example, its competitor Chainlink. It has over 90 million updates per day. This allows for very accurate price updates. Some of its key features are:

You can also stake your $PYTH and your rewards are in the form of token airdrops. The current $PYTH price is around 37 cents. Its market cap is $1.37 billion. Of the 10 billion max and total supply, already 3.6 billion circulate.

3) IO.net ($IO)

With IO.net we’re in the DePIN sector. It offers on-demand, decentralized GPU access. So, you can get cloud computing resources for machine learning and AI applications. Decentralized cloud computing has a couple of advantages over bigger, centralized competitors. For example:

IO.net also has some cool components that make it work. For instance:

The $IO token is also their native token. You can use it to rent GPU or pay for other services. Furthermore, you can pay for transactions with this token. Its current price is $2.72. It has a market cap of $258 million. Out of the 800 million max and total supply, 95 million circulates.

So, what did you know of these projects already? Or did I miss your favorite Solana ecosystem project? Let me know in the comments.

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