News: Solana’s Growth Reflects Investors’ Enthusiasm in the Crypto Sector
In January, Solana experienced a significant increase in new addresses on its blockchain, reaching almost 12 million new addresses. This represents an 18% increase compared to the previous month and sets a new record for the platform. The surge in new addresses can be attributed to the influx of new users engaging with native DEX and memecoins like Wen and Bonk. Additionally, the release of Jupiter’s native token, the main decentralized exchange aggregator on Solana, likely contributed to this growth. While the average daily number of active addresses remains below the levels seen in May 2022, Solana’s native cryptocurrency, SOL, has seen a significant price recovery and is currently trading at around $101.3.
New Price Records and Ambitious Prospects for Solana
Solana is currently experiencing a period of bullish fervor, with its value reaching $101.75. This marks a 5.3% increase in the last 24 hours and over 15% increase in the last seven days. Despite recent market downturns, Solana has surpassed key resistance levels and established $100 as a new support level. This puts the cryptocurrency in price discovery territory and opens up the possibility for even more ambitious targets in the short term. Solana’s strong growth in decentralized finance (DeFi) and non-fungible tokens (NFT) has fueled renewed enthusiasm among investors.
Jupiter: Best Crypto DEX with a Record Volume of $1.2 Billion
Jupiter, the decentralized exchange on Solana, has achieved a significant daily trading volume of over $1.2 billion. This makes it the top cryptographic DEX, surpassing even UniswapV3 on Ethereum. Jupiter’s record volume indicates a growing demand for the platform. Although current traders missed out on JUP’s initial airdrop, there is optimism as Jupiter has reserved 3 billion tokens for future airdrops to reward new users. With a market capitalization of approximately $914 million, JUP has generated over $500 million in trading volume in less than nine hours.
Hot Take: Solana’s Growth and Potential
Solana’s impressive growth in new addresses and its bullish price performance reflect the increasing enthusiasm among investors in the crypto sector. The influx of new users and the release of Jupiter’s native token have contributed to Solana’s success. With its strong presence in DeFi and NFTs, Solana is well-positioned for further growth and ambitious targets. The platform’s decentralized exchange, Jupiter, has also gained significant traction, surpassing other leading DEXs in trading volume. As Solana continues to attract attention and generate momentum, it remains a promising cryptocurrency to watch.
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