The total value of all cryptocurrencies in circulation peaked at $4.4 trillion in late 2024, and it has since plummeted by 45% to just $2.4 trillion as I write this, with the declines accelerating over the last few months. None of the major tokens or coins have escaped the carnage, not even those with genuine use cases that are supposed to drive real value.

Solana (SOL 0.18%) is the native cryptocurrency in a unique network with the same name, which was launched in 2020 as a cheaper, faster, and more capable version of the Ethereum (ETH +0.04%) network. A growing number of developers use the Solana platform to build…