📉 Solana (SOL) showed an increase of 20% from September 28 to October 6. But what's behind this rally?
- Recovery after the sale of $1.3 billion SOL from bankrupt FTX
- Successful update to version 1.16, increasing the cost of SOL by 16%
- Increase in the use of decentralized applications (Dapps) and NFT volumes
- Solana is trying to gain a foothold at $23 and become the fifth largest cryptocurrency by capitalization
Solana's active Dapps addresses have exceeded the number of active Ethereum addresses. Solana Network has surpassed Polygon (MATIC) in NFT sales, gaining $6.8 million in the last 7 days. Updating the network to version 1.16 resulted in improvements in the efficiency, security, and privacy of the blockchain. However, Ethereum layer-2 solutions continue to lead in terms of total value locked (TVL) and activity.
- Recovery after the sale of $1.3 billion SOL from bankrupt FTX
- Successful update to version 1.16, increasing the cost of SOL by 16%
- Increase in the use of decentralized applications (Dapps) and NFT volumes
- Solana is trying to gain a foothold at $23 and become the fifth largest cryptocurrency by capitalization
Solana's active Dapps addresses have exceeded the number of active Ethereum addresses. Solana Network has surpassed Polygon (MATIC) in NFT sales, gaining $6.8 million in the last 7 days. Updating the network to version 1.16 resulted in improvements in the efficiency, security, and privacy of the blockchain. However, Ethereum layer-2 solutions continue to lead in terms of total value locked (TVL) and activity.