Solana Network Sees Surge in Non-Vote Transactions
The Solana network has experienced a significant increase in non-vote transactions, reaching a yearly high. The daily seven-day moving average of these transactions has reached 34 million, indicating a rise in user activity on the layer 1 network. Non-vote transactions refer to the movement of SOL between different Solana accounts.
SOL Token Rallies Despite Market Pullbacks
Despite price pullbacks in other major cryptocurrencies, the native token of the Solana network, SOL, has rallied over 2% in the past 24 hours. At 7:00 a.m. ET, the token was valued at $114.95.
Solana Sets Records for New and Active Addresses
The Solana network has set records for monthly new and active addresses. The number of active addresses has increased by 65% compared to November figures, surpassing the previous record set in January.
Leveraged Positions Liquidated Due to SOL Price Increase
The recent surge in the price of SOL has led to the liquidation of over $24.25 million in leveraged positions. Most of these liquidations were shorts, with $14.07 million wiped out in the past 24 hours.
Hot Take: Solana Network Gains Momentum with Increased User Activity
The Solana network’s surge in non-vote transactions and record-breaking number of active addresses indicate growing momentum and user engagement. Despite market pullbacks, SOL continues to rally, showcasing its strength and appeal among investors. With its robust performance and increasing adoption, Solana is positioning itself as a prominent player in the cryptocurrency space.
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