Solana (SOL) - based on the results of June 2024 Solana takes 7 place in the ranking of leading blockchain platforms, based on the sum of key indicators. These key indicators are presented below.

(1) dApps ecosystem TVL.
This metric indicates how developed the ecosystem of decentralized applications on this blockchain is and how valuable this ecosystem expressed in fiat money. And although, of course, changes in the metric are still in most cases a reflection of speculative sentiments, stable growth over a long period of this metric indicates the growing broad adoption of the blockchain.
During the last month, the total value locked (TVL) in decentralized applications (dApps) on the Solana blockchain has decreased by -6.97% to $212.6b. This development is noteworthy. This reflects the general trend of the entire crypto industry for June.
This is a negative signal, for which Solana in June 2024 receives -1 points of the platform development dynamics index

(2) Average number of daily active wallets.
This is an absolute customer metric. This metric directly indicates whether more and more people are using the platform or, conversely, whether the platform is experiencing an outflow of real active users.
In terms of the metric of average daily active wallets on the Solana blockchain, June saw an increase of 11.36% compared to May. This suggests that the number of unique wallets interacting with the network is on the rise, indicating potential growth and interest in the Solana ecosystem. We can also assume that the Solana network is gaining traction and attracting more users, which is a positive sign for its continued development and adoption. This could also mean an influx of investors expecting the price to skyrocket in July.
This is a positive signal, for which Solana in June 2024 receives +1 points of the platform development dynamics index.

(3) Transaction volume.
This is another customer activity metric. This metric shows how actively existing users are utilizing the platform. Which is also an indicator that speaks about the current model of use of the platform, how often on average one active wallet makes transactions. An increase in transaction activity is always good, but a decrease indicates negative trends.
During the last month, there has been a -18.08% change in the total number of transactions on the Solana blockchain. While this decrease is notable, it does not represent a significant deviation from the average transaction volume over the past few months. This suggests that the current decrease in transaction volume may be a temporary trend. Especially if you pay attention to the significant influx of active wallets in June. It is important to monitor the behavior of the network closely to better understand the underlying causes of this change.
This is a negative signal, for which Solana in June 2024 receives -1 points of the platform development dynamics index

(4) Fees & average transaction fee, in native token
For every operation performed by a user on the blockchain, be it a transfer of cryptocurrency from one wallet to another, a purchase on the Internet or an exchange of cryptocurrencies, the blockchain takes fees in the native tokens of this blockchain. On the one hand, high fees hinder user activity. On the other hand, high fees secures high income for the platform and high rewards for validators. This fosters the development of the platform. The total fees & avg transaction fee, in native token, metrics are tightly related. They may differ in value, but always have the same direction. If the average fee in native tokens increases, then the total volume of platform fees also increases. And vice versa. If fees in native tokens increase, this is a good signal for the development of the platform. These are direct incomes of the platform and platform validators. The higher this value, the more interesting it is for the community to develop this platform. It is important for you, as a consumer of the services of this blockchain (whether it is the active use of decentralized applications or simply investing in a blockchain token), to see that income is growing. However, it is important to maintain a balance so that the growth of fees remains within reasonable limits.
It is not hard to note that the total fees on the Solana network have increased by 22.16% in June compared to the previous month. This increase in fees can be attributed to several factors. Yet, against the backdrop of a decline in transaction volume, this growth looks artificial. Moreover, it is likely associated with increased transaction costs. Which is not good for Solana. Because it has already lost its competitive advantage in transaction costs. But while this change in fees may be concerning for some observers, it is important to note that it is still relatively low.
Anyway, the growth of revenue is still a positive signal, for which Solana in June 2024 receives +1 points of the platform development dynamics index

(5) Average transaction fee, USD
As we noted above, for every operation performed by a user on the blockchain, be it a transfer of cryptocurrency from one wallet to another, a purchase on the Internet or an exchange of cryptocurrencies, the blockchain takes fees in the native tokens of this blockchain. And we also noted that the fees growth in native tokens is good, because it fosters incentive of the community and validators to participate in the development of the platform. But from the point of view of the average user, high fees in USD hinder activity. Users are not interested in increasing fees expressed in fiat currency. High transaction fees in USD value can stunt the development of any blockchain.
The average transaction fee in US dollars on the Solana network has experienced a noteworthy increase of 39.63 percent compared to the previous month, underscoring the volatility of blockchain transaction costs. This change is worth noting for users and network participants, as it could affect their transactional activity and overall network usage. It can also be assumed that this is a conscious change in the fees policy of this blockchain.
This is a negative signal, and unfortunately, for this metric, Solana gets -1 points of platform development dynamics index.

(6) Number of validators
The more validators, the more decentralized the blockchain is. An increase in the number of validators foster the reliability and stability of the platform. Moreover, Overall, while increasing the number of network validators may not directly correlate with transaction costs, it has the potential to impact network dynamics in ways that the increase of validators might alleviate pricing pressures due to high demand on block space and improve overall network performance. Therefore, it is extremely important for ordinary users to see that the number of blockchain validators is growing steadily.
It is not hard to note that the metric of active validators on the Solana network has changed by -1.31% in June. While the decrease in active validators may not have a direct impact on the network’s performance, it is still important to monitor this metric to ensure the health and stability of the network.
And although the size of deviation looks well within the measurement error, this is a negative signal, for which Solana in June 2024 receives -1 points of the platform development dynamics index

(7) Number of decentralized applications
The more developed a blockchain has an ecosystem of decentralized applications that offers users a wide range of opportunities that go beyond simple peer-to-peer transactions or currency exchange, the more users make daily transactions on this blockchain. This in turn increases the income of the blockchain and validators and contributes to the further development of the blockchain. Therefore, from the point of view For an outside observer, seeing that the number of decentralized applications is constantly increasing is a positive signal, suggesting an inevitable increase in active wallets and transaction volume.
Solana is actively developing its ecosystem of decentralized applications. This is an indisputable fact. The metric 'Number of decentralized applications' for the Solana blockchain has been growning significantly over the last three months. In June, the metric increased by 6.49%, in May by 11.13%, and in April by 20.05%. These changes indicate a clear upward trend, which is promising for the future of the network. This development is a result of a variety of factors, including the increasing popularity of Solana, as well as the development of new projects and initiatives on the blockchain. The upward trend is encouraging, as it suggests that the Solana ecosystem is growing and evolving, attracting more attention from developers and users. It also highlights the potential of the Solana network as a platform for building decentralized applications and services. And this also means that in the near future there should be an increase in the value of the token. And the increase in the number of active wallets is clearly not a temporary phenomenon.
Among the leading decentralized applications, the following projects are worth noting:
1. Raydium - more than doubled active users and transactions. Possibly awaiting for pump.
2. Pump.fun - active phase of project promotion, active marketing is being involved.
3. MomoAI(MetaOasis) - decreased interest in the project, likely decreased marketing efforts.
This is a strong positive signal, for which Solana in June 2024 receives +2 points of the platform development dynamics index

(8) Diversity of decentralized applications
It is no secret that the DeFi sector currently dominates the blockchain industry. A developed ecosystem of decentralized applications, not limited to just one DeFi sector, with a high degree of diversity attracts users with diverse interests. If applications from other categories appear among the leading decentralized applications by metrics for the month, this indicates that the platform is finding other niches and attracting not only traders. In current realities, this is an important indicator of blockchain development.
Among leading dApps on Solana, only dApps of the DeFi category dominate. These applications offer a wide range of decentralized financial services, including lending, borrowing, trading and yield farming, among others. But it is worth mention that lack of diversity in use cases can limit the long-term growth and sustainability of the platform. To date, Solana has done little to diversify its dApps ecosystem. So, no points for this metric Solana receives. 0 points.

(9) Unexplained anomalies
Sometimes when watching over at the metrics and statistics of blockchains and dApps, you come across the fact that a particular indicator may inexplicably experience a sharp increase, and then an equally sharp and illogical drop to the previous level. An example of such a situation is a multiple increase in active wallets without a noticeable increase in transaction activity within a single month. This indicates manipulation with indicators. This means that something is not going as expected with blockchain. The purpose of such manipulations is different, but this is a bad signal for ordinary users.
No unexplained manipulations with metrics were recorded on the Solana blockchain in June 2024. Therefore, Solana blockchain does not receive a penalty point for this metric. 0 points.

Summary chart

The maximum possible score for a blockchain can be 7 * 2 + 1 = 15 points
The minimum possible score for a blockchain can be 7 * (- 2) - 1 = - 15 points
Total platform development dynamics index for Solana in June 2024 is 0.