Franklin Templeton, a major asset management firm, believes that Solana has the potential to become the third-largest cryptocurrency in the market after Bitcoin and Ethereum. They praised Solana for its growth and ability to capture the next wave of crypto adoption. Despite facing challenges like FTX’s meltdown in 2022, Solana was able to recover and maintain solid adoption numbers. The network’s low fees and scalability allowed it to capitalize on the meme coin trend and create popular tokens like BONK and WIF. Franklin Templeton expects Solana to continue expanding its reach through various initiatives, including payments, decentralized infrastructure, and NFTs. Furthermore, the Solana Foundation is working on a scaling solution called Firedancer, which is expected to enhance the network’s speed and reliability and is set to launch in the first half of 2024.
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