Solana (SOL) Up 9% On Franklin Templeton Endorsement

Investment asset management firm Franklin Templeton published a report detailing Solana‘s (SOL) accelerated adoption over some time. With the validation from the firm, Solana has jumped by more than 9% to $138.46. Solana’s survival and resilience after the unfortunate implosion of the FTX cryptocurrency exchange were identified. The cryptocurrency suffered a huge blow in 2022 but has since demonstrated laudable resilience.

Franklin Templeton pointed to the fact that Solana has successfully captured a significant portion of cryptocurrency activity from 2023 to 2024. Considering all the challenges Solana has faced, including the multiple network congestions it faced in March 2024, Franklin Templeton perceives prospects for the protocol. It says Solanas growth is very likely to continue, especially as it is well-positioned for the next wave of crypto adoption.

In the long term, this will help SOL establish itself as the third major crypto asset after Bitcoin (BTC) and Ethereum (ETH). Franklin Templeton noted that Solanas activity and adoption peaked in the fourth quarter of 2023, right after airdrops like Jito and Pyth rolled out into its ecosystem. There has also been a significant percentage of memcoin activity in the Solana ecosystem. Bonk (BONK) and Dogwifhat (WIF) have been two of the best-performing memecoins, receiving multiple listings on leading trading platforms such as Revolt.