Latest News

Solana’s Network Activity Soars As It Breaks $100 Mark


Solana’s Network Activity Soars As It Breaks $100 Mark By Benzinga

Breaking News



Published Dec 25, 2023 19:41
Updated Dec 25, 2023 21:10

© Reuters. Solana’s Network Activity Soars As It Breaks $100 Mark

Benzinga – The cryptocurrency Solana (CRYPTO: SOL) established fresh records for monthly new and active addresses.

What Happened: As reported by The Block, the price upswing of Solana has been paralleled by a substantial increase in network activity.

The count of active Solana addresses has seen an approximate 50% growth over the figures recorded in November, surpassing the 15.6 million mark. This is a leap from the previous record of 15.2 million, set in January.

Furthermore, The Block’s data indicates that the tally of new Solana addresses has also set a new record this December, at 6.8 million, outdoing the former record of 6.6 million established in May 2023.

See Also: ‘Dogecoin Killer’ Burning Spree Skyrockets 161,500% — 8B SHIB Permanently Removed From Circulation In Sin

However, the count of non-voting transactions, a crucial metric indicating genuine user activity and network validation, has not set a new record and remains below their November figures. These transactions are essential as they validate the network besides facilitating money transfers or activating smart contracts on the Solana network.

Why It Matters: The price and network activity of Solana has seen a significant surge following its rebound from a major price plunge to below $10, triggered by the FTX collapse over a year ago.

Price Action: At the time of writing, SOL was trading at $123.31, up 8.31% in the last 24 hours, according to Benzinga Pro.

Read Next: Michael Saylor Predicts ‘Demand Shock’ As Bitcoin’s Market Cap Skyrockets 160% In 2023, Gaining $530B On

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

© 2023 Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Solana’s Network Activity Soars As It Breaks $100 Mark

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning
Do not sell my personal information

© 2007-2023 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Israel’s Netanyahu vows no let-up in war against Hamas as Gaza deaths mount

Previous article

$100 Invested In Lululemon Athletica 5 Years Ago Would Be Worth This Much Today

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News