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Home»ADOPTION NEWS»Solana hits record high of daily new addresses
ADOPTION NEWS

Solana hits record high of daily new addresses

By Crypto FlexsMarch 12, 20243 Mins Read
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Solana hits record high of daily new addresses
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Market • March 11, 2024, 2:23 PM EDT

Posted 1 minute ago In ~

The number of daily new addresses on the Solana blockchain has reached an all-time high, according to The Block’s data dashboard. Number of new addresses per day Solana brush

+9.39%
The network’s current figure, based on a 7-day moving average, is over 691,000.

According to Zeta Markets founder Tristan Frizza, increased adoption is indicative of real user activity on the network. “This suggests that we are not only witnessing speculative interest, but that we are poised to see new all-time highs due to this genuine participation. Solana has already supported Ethereum, Arbitrum, Optimism, BNB Chain, Tron, and Frizza on The Block. “Combining Avalanche and Avalanche, their rise to the top three blockchains by market capitalization seems inevitable,” he said in a note to .

Solana trading volume increases

Frizza added that Solana has experienced a surge in DEX trading volume and has consistently surpassed the $2 billion daily trading threshold since early March.

“With Bitcoin hitting multiple all-time highs last week, similar moves are expected for Ethereum and Solana, driven by capital circulation in the market,” said the Zeta Markets founder. However, Frizza pointed out that Solana is well below the all-time high of $260 it reached in November 2021.

According to The Block’s pricing page, the surge in new Solana addresses comes as SOL prices have risen more than 12% over the past seven days. The GM 30 index, which represents the top 30 cryptocurrencies, rose 3.57% to 157.54 over the past 24 hours.

The price of SOL, the native cryptocurrency of the Solana network, has risen more than 12% in the past week. Image: Block.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Brian McGleenon is a UK markets reporter for The Block. He has worked as a financial journalist and producer for several news outlets such as Fuji Television, The Independent, Yahoo Finance, The Evening Standard and The Daily Express over the years. Brian is also a screenwriter and producer with one feature film and one in development at Northern Ireland Screen. In addition to web3 and cryptocurrency development, he is also interested in geopolitics, environmental issues, artificial intelligence, and longevity studies. Contact us via email (email protected).
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