Solana Hits 30 Million Milestone – Chances of SOL Prices Reacting Are Slim…
Journalist
- Solana’s daily transactions have declined over the past month
- SOL prices have increased by more than 2% in the last 24 hours
Solana’s latest “all-time high”
SolanaFloor is a popular X-handle that shares updates on the blockchain ecosystem. Tweet highlighting an important development. According to the same source, Solana’s monthly active addresses have surpassed 30,000,000 – a record high.
Recognizing this as a positive development, AskFX took a closer look at the blockchain’s network activity over the past 30 days. Artemis’ network activity was analyzed by AskFX. Below are some of the most effective ways to increase your ROI: SOL’s daily active addresses reached 1.9 million on June 17. The curve started to fall.
Surprisingly, despite reaching an ATH for monthly active addresses, daily blockchain transactions have declined over the past month.
There was also a decline in the value captured over the course of the month. Both Solana’s revenue and fees decreased.
SOL is back on track
SOL bulls increased their bets as the token price started to rise. According to CoinMarketCapSOL price fell by more than 6% in the last seven days. SOL’s value increased by more than 2% in the last 24 hours.
SOL was trading at $134.67, with a capitalization of more than $62 billion.
The recent price increase also had a positive impact on the token’s social metrics. After a dip on June 19, the token’s weighted sentiment moved upwards and into a positive zone. It was clear that SOL investors were still confident and bullish sentiment towards SOL tokens was increasing.
SOL’s social volume also remained high, indicating its popularity in the crypto space. Both SOL’s price and open interest increased. If open interest is increasing, it means there is a high probability that the current trend will continue.
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SOL’s funding rate has also increased. Prices tend to move in the opposite direction of funding rates. This could cause problems for SOL in the short term.
