Solana is celebrating its fifth anniversary since launching its mainnet in March 2020, becoming a significant player in the crypto space. Originating just as the COVID-19 pandemic began, Solana quickly gained traction, processing over 408 billion transactions and nearly $1 trillion in value on decentralized exchanges. Initially backed by Multicoin Capital, its rise to a $77.8 billion market cap during the 2020-2021 bull cycle cemented its reputation as a potential Ethereum competitor. However, the market downturn in 2022, exacerbated by the FTX collapse, saw Solana's market cap plummet to $3 billion. Despite this, 2023 marked a resurgence, driven by a memecoin craze that propelled its cap to over $140 billion. Notable achievements include launching the Solana Saga crypto phone and being included in the proposed US Digital Asset Stockpile, highlighting its growing importance. As of now, Solana is priced around $128.17, with a market cap of $64.5 billion, reflecting its volatile journey in the crypto market.

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