Adoption of Solana Blockchain is surging; the number of new addresses added to the network each day has surpassed 691,000, a new record. People’s genuine enthusiasm in using the network is evident in the notable rise in new addresses.
Zeta Markets founder Tristan Frizza thinks that Solana (SOL) is poised to hit new all-time highs as a result of this spike in new addresses. Remarkably, in terms of daily transactions, Solana is already surpassing other significant blockchains.
Solana’s noteworthy performance is further enhanced by the notable increase in trading volumes on decentralized exchanges (DEXs). Solana’s DEX trading volumes have routinely surpassed $2 billion every day since the start of March. This spike is explained by the recent increase in the value of Bitcoin, which has caused changes in market capital.
The spike in newly registered Solana addresses is in line with the price of SOL, which has increased by almost 12% in the last week. It closed the previous day at $153.18, with a 42% trading volume. from CoinMarketCap data.
Frizza believes that Solana’s market capitalization will keep growing, maybe putting it among the top three blockchains. The network’s expanding user base and robust ecosystem which have drawn a large number of applications and developers corroborate this projection.
The network’s scalability and cheap transaction fees are anticipated to draw even more users and projects as the Solana ecosystem grows, enhancing its standing as a top blockchain platform.
