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