Solana (SOL) is experiencing a surge in adoption, with the daily count of new addresses on the network reaching an all-time high of over 691,000. The significant increase in new addresses is a result of people being really interested in using the network.
Tristan Frizza, founder of Zeta Markets, believes that this surge in new addresses positions Solana on a trajectory to achieve new all-time highs. Notably, Solana is already outperforming other major blockchains in terms of daily transactions.
Adding to Solana’s impressive performance is the substantial surge in trading volumes on decentralized exchanges (DEXs). Since the beginning of March, Solana’s DEX trading volumes have consistently exceeded $2 billion daily. This surge is attributed to the recent upswing in Bitcoin’s value, which has prompted shifts in market capital.
The surge in new Solana addresses coincides with SOL’s price jumping over 12%, trading at $ 153.17 in the previous 24 hours with a trading volume of 42%, according to the data from CoinMarketCap.
Frizza predicts that Solana’s market cap will continue to rise, potentially propelling it into the top three blockchains. This prediction is supported by the network’s growing adoption and thriving ecosystem, which has attracted numerous projects and developers.
As the Solana ecosystem continues to expand, the network’s scalability and low transaction costs are expected to attract even more users and projects, further solidifying its position as a leading blockchain platform.
Also Read: Solana Outperforms Major Cryptos With 34% Price Surge
