- The number daily active wallets has risen 37% from month to date.
- Solana’s DEX volumes have nearly doubled during the past week.
Smart contracts are popular blockchain Solana [SOL] Since the beginning of March, there has been a robust network participation.
Solana reports a surge in wallet activity
AMBCrypto has analysed Step Finance. dashboardThe number of wallets active daily has risen 37% in the last month. On the 7th March, there were 794.9K, which is the second highest count for 2024.
Unique active wallets pay for at least 1 transaction in a certain timeframe.
The graph below shows that the daily count has been parabolic ever since November 2023. Solana was seeing less than 100,000 wallets per day before this.
Solana DEX volumes surge
The increase in daily users can be attributed to the increased activity on Solana’s decentralized exchanges.
AMBCrypto analysis shows that DeFiLlama’s data, Solana outperformed Ethereum [ETH] For the second consecutive day, DEX volumes remain at number one.
In the last week, Solana’s DEX volume nearly doubled, reaching $16.74 billion. This is its most productive week yet.
Popular Solana DEXs like Jupiter [JUP] According to a report by CoinGecko.
Solana – the meme coin chain
The current ongoing DEX trade could explain the spike in DEX. meme coin The leading coins have seen a frenzy in which they have made impressive gains.
Solana-based memorabilia like Bonk [BONK] You can also find out more about the following: dogwifhat [WIF] The weekly increase in sales of both rose by 18% and 71%, respectively. CoinMarketCap.
WIF/SOL, WIF/USDC and WIF/SOL were two of the trading pairs that had the highest volume. top 10 most traded Jupiter Exchange in the last 24 hours.
What is the cost? 1,10,100 SOLs worth today?
Ethereum has been the preferred chain for trading memecoins, but Solana’s recent success has heightened the competition.
The native token of the network is also called SOL At the time of publication, a single GBX was trading at $146.76. This represents a 14% increase over the past week. The gains of the fifth largest crypto in terms of monthly growth were a staggering 42%.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: ambcrypto.com