Solana's Network Activity Soars As It Breaks $100 Mark
Portfolio Pulse from Mehab Qureshi
Solana (CRYPTO: SOL) has seen a significant increase in network activity, setting new records for monthly new and active addresses. Active addresses grew by approximately 50% since November, surpassing 15.6 million, while new addresses in December reached 6.8 million, a new high. Despite this growth, non-voting transactions, which indicate genuine user activity, have not reached new highs and remain below November levels. SOL's price has surged, trading at $123.31, up 8.31% in the last 24 hours.
December 25, 2023 | 7:41 pm
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POSITIVE IMPACT
Solana's network activity has significantly increased, with records set for new and active addresses. However, non-voting transactions have not reached new highs. SOL's price has surged, reflecting the increased network activity.
The increase in network activity and the setting of new records for Solana are likely to be viewed positively by investors and could lead to increased investor confidence in SOL. The surge in price reflects this optimism. However, the lack of new highs in non-voting transactions may be a concern for the long-term validation of the network, but it seems to have a lesser impact on the short-term price movement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100