The prediction around the Solana (Sol) cryptocurrency surged rapidly, as the on-chain activities surged rapidly in the last couple of weeks.
Solana (Sol) is a popular Proof-of-stake (PoS) crypto network which is known for its Proof-of-history (PoH) protocol which can process up to 70 thousand transactions per second (TPS). Following huge hurdles between Sep 2021 to Dec 2022, the Solana network successfully recovered from all kinds of network bugs & criticism.
From January of this year, the trade price of Solana coin surged nearly 10-fold, which is the highest over any other flagship crypto asset.
The current trade price of Sol coin is $111.7 & this trade price is 60% higher over the last 7 days of trade price.
Following the big rallies in the trade price of Sol coin, the on-chain activities also surged rapidly across the Solana ecosystem.
According to data shared by TheBlock, the number of active Solana blockchain addresses has surged about 50% over its November numbers to hit over 15.6 million. This increase in figure is very high from its former record of 15.2 million in January 2023.
In May 2023 there were a total of 6.6 million addresses on Solana but now this number is 6.8 million which is itself a very big achievement for the Solana network in terms of adoption.
Following the surge in on-chain activities, the majority of the crypto analysts predicted that Solana coin is not gonna stop and probably will soon hit the $150 trade price in the next 2 weeks.
However all these analyses are based on the current momentum but people need to understand that price analysis doesn’t work 100% because market sentiments can change anytime following negative news related to the Crypto sector e.g. lawsuit against a big crypto exchange, crypto ban news, hacking news, etc.
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