Solana is currently experiencing significant growth, primarily fueled by two main factors. First, decentralized exchange (DEX) volumes on the Solana network have surpassed an impressive $10 billion, showcasing the platform's increasing adoption and utilization in the crypto space.
Second, the implementation of token burns has effectively reinforced Solana's deflationary model. Token burns reduce the overall supply of SOL, aiming to increase its value over time. This deflationary approach is attracting more investors, eager for a rise in SOL's market price.