Solana Sets the Crypto Ball Rolling with Record-Breaking Active Addresses, Report Shows

Solana Sets the Crypto Ball Rolling with Record-Breaking Active Addresses, Report Shows
фото показано с : zycrypto.com

2024-10-26 23:05

Solana (SOL) continues to be the talk of the crypto town thanks to heightened on-chain activity since active addresses are going through the roof.

According to a recent report by a16z, “State of Crypto Report 2024,” Solana has been stealing the limelight due to soaring crypto activity.

Per the report, “The explosion of activity is primarily due to Solana, which accounted for about 100 million active addresses. Following were NEAR (with 31 million active addresses), Coinbase’s popular L2 network Base (22 million), Tron (14 million), and Bitcoin (11 million).”

Solana has been experiencing a beehive of activity thanks to its thriving meme coin ecosystem and surging builder interest since this metric increased from 5.1% to 11.2% this year.

Solana’s Decentralized Exchange Volume Escalates

Thanks to its bullish metrics, Solana continues to be a force to be reckoned with in the crypto space, and its DEX volume is on an upward trajectory.

On-chain metrics provider Crypto Rand acknowledged, “Solana daily DEX volume has surpassed $2 billion for the third day in a row, outpacing all other chains, including Ethereum. Current volume is sitting at $33,75B, but still a long way off its highest month of almost $60B in March this year.”

Source: Crypto Rand

Since intermediaries are absent in DEXs, peer-to-peer (P2P) trades are conducted via smart contracts.

Therefore, Solana’s rising DEX volume illustrates heightened market confidence and a booming decentralized finance (DeFi) field. 

Meanwhile, bulls are eyeing Solana exchange-traded funds (ETFs), given that SOL’s weekly institutional products recently witnessed inflows worth a whopping $2.4 million.

Solana was up by 12.1% in the past week to hit $167 at the time of writing, according to CoinGecko data.

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Solana (SOL) на Currencies.ru

$ 248.9 (+1.60%)
Объем 24H $9.099b
Изменеия 24h: 4.26 %, 7d: 18.32 %
Cегодня L: $231.25 - H: $251.9
Капитализация $118.129b Rank 4
Цена в час новости $ 164.83 (51%)

addresses solana active crypto activity on-chain heightened

Источник: zycrypto.com

addresses solana → Результатов: 53


Фото:

Why Solana’s price is dropping despite a surge in active addresses

Solana, one of the leading blockchains in the decentralized finance (DeFi) sector, has recently made headlines by surpassing an impressive milestone of 100 million active addresses. However, despite this surge in activity, Solana’s price has been on a downward trajectory, raising questions about the sustainability of its growth and the underlying factors contributing to this […]

2024-10-10 18:06


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