Solana reaches historic peak of active addresses on the blockchain

Solana SOL $199.28 Solana 5.57% Market capitalization $93.97 billion VOL. 24 hours $0.85 billion , one of the leading blockchain platforms, continues to set new records. Recently, the number of daily active addresses (DAAs) on the network reached 5.4 million, the highest in the history of the blockchain. User activity has increased significantly as new tokens have been added to the platform, which has attracted considerable attention from traders.

The growth of this indicator indicates increased trading activity, which could potentially affect the value of the native Solana token (SOL).

In addition to setting a record for the number of active users, Solana also recorded more than 40.3 million transactions per day, outpacing blockchain platforms Ethereum ETH $2,920.21 Bridged Ether (StarkGate) 3.04% Market capitalization $0.24 billion VOL. 24 hours $1.72 billion , BNB Chain, and Cardano ADA $0.43 Cardano 17.24% Market capitalization $15.54 billion VOL. 24 hours $0.12 billion . This indicates a growing interest in Solana on the part of market participants, although the SOL price is still within a narrow range.

According to the weekly chart, the price of SOL is in a bullish range, but the influence of bearish sentiment on the market is felt. The MACD (Moving Average Convergence Divergence) indicator is a technical analysis indicator used to determine the strength and direction of a trend in the cryptocurrency market, as well as to identify potential pivot points — ed.) shows an increase in pressure from sellers, while the price is trading above a key support zone. Trading volumes also remain limited, although bulls continue to dominate.

Nevertheless, analysts expect the SOL price to accumulate within the current range, after which a breakout may occur, which could push the value of the digital token to $ 150.