Jamie Coutts of Real Vision, chief crypto analyst claims that Ethereum is the (ETH( ) rival may be about to make a huge breakthrough.
Coutts says The number of Solana active (SOLIn the past three months alone, smart contracts platforms have seen a triple-digit percentage increase in addresses.
SOL, he believes, is well-positioned for an upward move due to its recent price correction and the metrics of the network.
“Solana: active addresses exploded by 276%, yet fees dropped 11.3%. Price looks like a coiled spring, primed for a breakout.”
He shares data on smart contracts platforms (SCPs), which he also uses, from the same timeframe.
Update on major SCP network activity
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- Ethereum: the fee surge has likely reached a low point in the cycle, with a 77% increase, but price momentum is still weak at -21.9%.
- TON: active addresses +208%, fees +103%, but price growth (+26.1%) feels muted due to Telegram’s CEO fallout – likely overdone.
- SUI: fees jumped +236%, addresses up +74.9%. The increased monetary velocity indicates a healthy growth in the network. The modest growth of Aptos also points to a healthy network.
- With fees rising 30.4% per day to $6.39m, TRON is dominating stablecoin transactions. Nearing the all-time highest (ATHs).
- Near: The growth has slowed, with some slight decreases. However, it still holds the second spot for active addresses (over 3 million).
The average of 14 days is used for the on-chain metric.”
Solana was trading at $145.33 when this article was written, an increase of more than 4% over the past 24 hours.
Coutts highlights Stripe is a payments giant announced Global support for USDC Settlements Over the Ethereum (ETHPolygonPOL( ) and Solana Blockchains.
Solana is bullish on the future of crypto payments.
After a 6-year break, one of the biggest payment companies returns to the game. Visa, Mastercard and PayPal are all betting on cryptocurrency. Only one question remains for investors: Will blockchain rails be used less or more in the future? Except store of value Bitcoin, most other use cases – decentralized physical infrastructure networks (DePin), non-fungible tokens (NFTs), etc. – are still attempting to find PMF (product market fit).
Stablecoins are a great tool for decentralized payments (DeFi) and there’s no doubt about that. This will suffice if all else fails to support the value of network layer-1s that have already achieved network effects or are in progress. “The question is always the right position size.”
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