- In the last six-months, stablecoin volume on Solana increased significantly.
- Solana NFTs’ floor values and daily traffic on their network increased.
Solana [SOL] In the past few weeks, there has been a significant increase in interest for its ecosystem. The network has also seen a significant increase in the volume of stablecoins.
The volume of goods is on the increase
Recent data shows that Solana is the most popular blockchain to transfer stablecoins at this time, and has surpassed other chains for settlement volume over the past six months.
Solana’s transactions during this time period totaled $1.7 trillion. This is more than Ethereum ($1.1 trillion) and Tron (869 billion).
It is this increased liquidity that allows the Solana Ecosystem to not only provide smoother operations for decentralized exchanges, but also attracts DeFi projects looking for an ecosystem with robust performance.
Users and developers will be drawn to blockchains that offer efficient and affordable transactions. financial services.
The diverse uses supported by the high volume of stablecoins, such as trading, lending and yield farming contribute to an active and dynamic Solana eco-system.
Look at activity
Solana has surpassed Ethereum in daily activity and is slowly catching Tron. In terms of total value locked (TVL) in the network, Ethereum was the leader, followed by Tron, and Solana.
The Solana team has much to do before they can compete with Ethereum on the DeFi front.
The NFT metric
Solana NFT collection has seen growth. Over the past few days, Solana NFTs’ total value has increased significantly.
However, this growth in sales volume was not seen. It was evident that, in spite of increasing prices for the NFT Collections, there were still a low number of NFT Trades. Many addresses chose to store their collection rather than trade it.
What is the cost? 1,10,100 SOLs worth today?
SOL traded at $150.93 as of the press deadline. The price had risen by 1.75 percent in 24 hours. SOL’s volume had grown 15.23% in the same time period.
The RSI, at which SOL traded, had decreased suggesting a slowed bullish momentum.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: ambcrypto.com