In line with a press release shared with CoinMarketCap on March 6, Solana grew to become the inaugural winner of CoinMarketCap’s annual CMC Cryptocurrency Awards Encryption Slate.
The CMC Awards acknowledge excellence in eight classes within the cryptocurrency area, honoring excellent tasks and people. The award was awarded after ten days of cautious assessment, together with on-line voting, information evaluation and professional judging.
Cryptocurrency of the Yr
The award acknowledges blockchain networks for his or her groundbreaking innovation and lasting influence on the trade, with nominees together with Ripple, Chainlink, Ethereum and Toncoin.
Nonetheless, Solana overcame these formidable rivals because it demonstrated resilience in overcoming numerous challenges, together with community outages and its previous relationship with Sam Bankman-Fried, founding father of defunct trade FTX.
As well as, the blockchain community has established key partnerships with numerous conventional monetary tasks akin to Visa and has seen vital adoption over the previous 12 months,
These developments have prompted asset administration agency VanEck to foretell that by the tip of this 12 months, SOL will grow to be one of many high three blockchain networks when it comes to market capitalization, complete worth locked (TVL), and variety of lively customers.
Different winners:
Bridge Builder of the Yr: BlackRock, the world’s largest asset supervisor, acquired this designation for its main position in launching a spot Bitcoin ETF in the US. Different rivals within the area embody PayPal, Reddit, Starbucks and Nike.
Meme Coin of the Yr: BONK acquired this honor for its vital influence on the Memecoin trade. Over the previous 12 months, BONK has elevated in worth by greater than 5,000% and has performed an necessary position within the improvement of the Solana ecosystem.
Social Influencers to Watch: On-chain crypto detective ZachXBT has been acknowledged for his capacity in exposing scams and fraudulent exercise inside the crypto trade.
Probably the most progressive L1/L2/cross-chain venture: Celestia ranks excessive on this class for its developments in scalability, safety, and community interoperability. Celestia is the primary modular blockchain community designed to simplify blockchain deployment and improve scalability.
Probably the most progressive NFT and gaming tasks: Pudgy Penguins has attracted consideration as an indication of probably the most progressive NFT venture within the subject of NFT and gaming.
Probably the most progressive DeFi venture: Uniswap received this award, highlighting its breakthrough contribution to the DeFi ecosystem. Not too long ago, the DEX launched a brand new governance proposal to redirect protocol charges to UNI token holders to incentivize participation inside the neighborhood.
Cryptocurrency Chief of the Yr: There was a notable tie on this class, with Vitalik Buterin, Changpeng Zhao, Julia Leung, Brian Armstrong and Ryan Selkis sharing the award for his or her contributions to the trade.
CoinMarketCap CEO Rush Luton mentioned:
“All 5 nominees have made an enormous contribution over the previous 12 months, however in very alternative ways, and we need to acknowledge their great efforts in driving the trade ahead.”
CMC Award winners obtain Ethereum-based NFTs as recognition tokens.
