The blockchain space has long been defined by competition among Layer1 networks, each vying to become the go-to platform for decentralized applications. While many once-prominent chains like Near, Fantom, and Avalanche have struggled to maintain momentum, Solana has surged ahead—revitalizing its ecosystem, attracting developers, and achieving significant growth in TVL and transaction volume.
What sets Solana apart? And why can’t other Layer1 blockchains replicate its success?
Solana’s Resurgence: A New Era of Growth
Solana's revival is no longer speculative—it's measurable. As of December 2025, Solana’s Total Value Locked (TVL) surpassed $1 billion, reaching approximately $1.04 billion. Its 24-hour trading volume hit $912 million, positioning it as the second-largest Layer1 network after Ethereum, which recorded $1.23 billion in daily volume.
This resurgence wasn’t accidental. It was fueled by a series of strategic moves:
- Jito’s JTO token airdrop created a wave of wealth distribution, re-engaging dormant users and incentivizing participation.
- Pyth Network’s $600 million airdrop to over 75,000 wallets boosted community sentiment and trust.
- Strategic funding rounds for key infrastructure projects like Wormhole, which raised $225 million at a $2.5 billion valuation, signaled strong institutional confidence.
These events didn’t just lift token prices—they reignited developer interest and user activity across the chain.
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Stagnation on Other Layer1 Chains: Fantom and Near Struggle to Recover
In contrast, networks like Fantom and Near remain stagnant despite temporary price rallies.
As of mid-December 2025:
- Fantom’s TVL: $84 million | Daily volume: ~$14 million
- Near’s TVL: $59 million | Daily volume: ~$8.4 million
Compare that to Solana’s numbers—over 10x higher in both metrics—and the disparity becomes stark. Worse, there's little sign of upward momentum in their on-chain data.
Fantom’s Collapse After Multichain Failure
Fantom suffered a devastating blow when Multichain, its primary cross-chain bridge, collapsed following the arrest of its founder in July 2025. The incident triggered a chain reaction:
- Over $200 million in funds were stranded or lost.
- Native stablecoin depegged, shaking user confidence.
- Major DeFi protocols like Geist Finance shut down permanently, and SpiritSwap halted operations due to capital depletion.
- A separate hack in October cost the Fantom Foundation $657,000.
Though Fantom attempted recovery with Fantom Sonic, a high-performance upgrade, and launched Sonic Labs—an accelerator program mentored by Andre Cronje—the ecosystem has failed to regain traction. Today, even SpookySwap, its largest DEX, holds only $23 million in TVL.
Near’s Management Crisis and Broken Trust
Near avoided catastrophic hacks but faced reputational damage due to governance controversies.
In November 2025, Wintermute CEO Evgeny Gaevoy publicly accused Near Foundation and Aurora Labs of breaching a verbal agreement. Wintermute had purchased $11.2 million worth of USN stablecoins from FTX’s estate under the promise that they could be redeemed 1:1 for USDT without KYC. When redemption was denied, Gaevoy labeled the foundation “untrustworthy.”
While Near claimed the refusal was to prevent potential exploitation, the incident raised serious concerns:
- Is USN truly backed?
- Does the foundation have sufficient reserves?
- Can developers rely on verbal commitments?
Despite announcements like the appointment of Illia Polosukhin as CEO, a partnership with Polygon Labs on zkWASM, and the launch of Near DA, a data availability layer, none have translated into real on-chain growth.
The Real Driver of Ecosystem Growth: Developer Activity
Behind every thriving blockchain is a vibrant developer community. And here, Solana dominates.
According to Developer DAO data from October 2025:
- Solana: 946 total active developers (268 full-time)
- Avalanche: 472 total (133 full-time)
- Near: 441 total (103 full-time)
- Aptos: 174 total (55 full-time)
- Fantom: 119 total (32 full-time)
Even during the darkest days post-FTX collapse, Solana retained over 2,000 monthly active developers. By March 2025, that number peaked at 2,732, with code commits hitting record highs.
As Ethereum co-founder Vitalik Buterin noted: "Solana has a serious and smart dev community. I hope it has a bright future."
Chris Burniske of Placeholder VC added: "Solana’s builders are hardcore, independent, and technically gifted—comparable to Ethereum’s early days."
Why Developers Choose Solana
Several factors make Solana uniquely attractive:
1. High-Quality Technical Infrastructure
- Solana’s codebase is clean and modular. Rune, founder of MakerDAO, praised its efficiency when building NewChain: "Solana offers elasticity and speed unmatched by Cosmos or Ethereum."
- With Firedancer, the new validator client (in testnet), Solana can theoretically achieve 1 million TPS, rivaling centralized systems.
- State Compression slashes NFT minting costs—creating 1 million NFTs costs just $921.
2. Low Developer Entry Barrier
- DApps can be built in minutes using tools like Helius and Solana Pay.
- The Neon EVM allows Solidity developers to deploy on Solana seamlessly.
- Solang compiler enables Rust-like performance with familiar syntax.
3. Robust Developer Support Programs
Solana Foundation hosted two major hackathons in 2025:
- Grizzlython: $5M prize pool, 813 projects submitted
- Hyperdrive: $1M prize pool, 907 projects submitted
- Regional initiatives like the $1M grant program for Chinese-speaking developers expanded global reach.
- Introduction of Convertible Grants ties funding to milestone achievement, aligning incentives.
4. Strong Community Culture
- A culture of mentorship thrives: "New devs get paired 1v1 with seniors," said Solana co-founder Anatoly Yakovenko.
- Feedback loops directly influence product roadmaps.
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Why Others Can’t Replicate the Flywheel
Solana’s growth isn’t just about technology—it’s about creating a self-sustaining ecosystem where developers build, users engage, and value compounds.
Other chains fail because they lack one or more critical components:
| Factor | Solana | Others |
|---|---|---|
| Network Stability | ✅ Firedancer + uptime since Feb 2025 | ❌ Frequent outages (e.g., Near) |
| Developer Tools | ✅ Full-stack SDKs, APIs, IDEs | ❌ Sparse documentation |
| Cross-Chain Access | ✅ Wormhole, Neon | ❌ No reliable bridges (Fantom) |
| Wallet Experience | ✅ Phantom, Backpack | ❌ Clunky UX (Near Wallet) |
| Funding & Grants | ✅ Structured programs | ❌ Ad-hoc or absent |
| Composability | ✅ Rich DeFi/NFT ecosystem | ❌ Fragmented or dead protocols |
As one developer put it: "Building on other chains feels like constructing a house while also having to build the roads and power grid."
FAQ: Understanding the Ecosystem Divide
Q1: Can Fantom or Near ever catch up to Solana?
While possible, catching up requires more than marketing—it demands consistent technical delivery, transparent governance, and sustained developer engagement. Both chains currently lack trust and momentum.
Q2: Is Solana truly decentralized enough to sustain long-term growth?
Decentralization remains a concern—Solana has fewer validators than Ethereum. However, Firedancer’s introduction increases validator diversity and resilience, addressing past criticisms.
Q3: Why do developers prioritize ease of use over decentralization?
Most builders focus on user adoption first. A fast, cheap, reliable chain attracts users faster than a slow but highly decentralized one. Performance often trumps ideology in early-stage ecosystems.
Q4: What role do airdrops play in ecosystem growth?
Airdrops like JTO and PYTH act as powerful incentive mechanisms. They reward early users, foster loyalty, and generate buzz—critical for reactivating dormant communities.
Q5: Are hackathons really effective in driving innovation?
Yes—when well-executed. Solana’s hackathons don’t just offer prizes; they provide mentorship, networking, and post-event support, turning prototypes into live projects.
Q6: Will new Layer1s surpass Solana in the future?
Newer chains like Sui and Aptos have strong backing but haven’t demonstrated sustainable ecosystems. Without active developers and real usage, even superior tech won’t translate into adoption.
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Conclusion: The Flywheel Effect Is Built on Trust and Execution
Solana’s success isn’t replicable because it’s not just one thing—it’s the synergy between technology, community, incentives, and execution.
Legacy chains like Near and Fantom face deeper structural issues: broken trust, poor infrastructure, and weak developer pipelines. Until they address these fundamentals, their ecosystems will remain stagnant—even if their tokens briefly rally.
For any blockchain aiming to compete, the lesson is clear:
Winning developers wins ecosystems. And winning developers requires more than promises—it requires performance, support, and consistency.
Solana didn’t just survive its crisis—it evolved. Others must do the same if they hope to matter in 2025 and beyond.
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