- Solana’s daily transaction declined in the last month
- SOL’s price has increased over 2% within the last 24 hour
Solana [SOL] The blockchain has generated a great deal of excitement in the crypto world with the launch of multiple tokens. The blockchain’s network has seen an increase in activity as well, but not just that.
Solana’s new ‘all-time high’
SolanaFloor is a popular X account that posts updates about the ecosystem of blockchain. tweet highlighting a major development. According to the same, monthly active addresses on Solana surpassed 30 million – An all-time high.
AMBCrypto analyzed the activity of the blockchain network over the past thirty days. Artemis analysis data SOL’s active daily addresses reached 1.9 millions on the 17th of June. The graph began to fall.
The blockchain transactions per day have declined in the past few months, despite reaching a new high for monthly addresses.
Source: Artemis
The captured value also decreased over the past month. It seemed that both Solana revenue and its fees had decreased.
TVL charts also showed a similar decline, indicating a decrease in blockchain performance within the DeFi sector.
SOL back on Track
SOL bulls increased their bets as token prices finally moved up. According to CoinMarketCapSOL’s price fell more than 6% over the past seven days. SOL’s value increased over 2% during the past day, indicating a recovery of losses.
SOL’s market cap was $62 Billion at the time this article was written.
A recent rise in the price of the token also impacted its social metrics positively. The token’s weighted mood, which had a dip on June 19, has now moved into the positive range. It was clear that SOL investors were still confident and the bullish sentiment towards SOL tokens increased.
Social volume remained strong, which reflects its popularity. SOL’s price and open interest both increased. When open interest increases, this means that there is a high probability of the price trend to continue.
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SOL’s financing rate increased as well. Prices are more likely to change in the opposite direction of funding rates. SOL could face problems soon.
Santiment
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Source: ambcrypto.com
