Hunting for sub-$20 M Solana projects with real utility, any ideas?

I’ve been scanning the Solana ecosystem for hidden gems, beyond the usual meme coins and quick pumps. One project that caught my eye is Lingo, a stake-to-win platform where you earn native tokens, partner airdrops, and raffle tickets for everything from PS5s to cash.

Now I’m putting together a shortlist of other Solana tokens under $20 M market cap that check these boxes:

• Native to Solana (no EVM bridges)
• Live product or beta in use
• Clear utility (not just a “community token”)
• Active devs / growing user base
• Reasonable liquidity (real volume on multiple DEXes)

Solana’s still buzzing with daily volume and developer activity in 2025, perfect time to spot the next breakout before the rekt season hits. If you’ve come across any projects that fit, drop their names (and why they stand out) below!