Solana (SOL) has surged to a new all-time high of $264, exceeding its previous peak of $259 in the last 24 hours, as reported by CryptoSlate data. This achievement showcases the remarkable momentum of Solana, especially when compared to Bitcoin. While Bitcoin has seen a 47% increase since Donald Trump’s election victory on November 5th, SOL’s price has skyrocketed by over 50% during the same period.
Market experts have pointed out that this rally coincides with the unprecedented on-chain activity driven by the current meme coin craze in the ecosystem. Data from DeFilama indicates that Solana’s network has facilitated $100 billion in decentralized exchange trading volume, setting a new milestone. Moreover, the platform has been averaging more than $5 billion in daily trading volume this month.
When it comes to transaction numbers, Solana’s dominance is even more evident. According to blockchain analysis platform Artemis data, while most layer-1 blockchains handle fewer than 5 million transactions per day, Solana processes an impressive 53 million transactions daily. This substantial level of activity underscores the increasing adoption and demand for Solana’s robust infrastructure.
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The continued success of Solana and its record-breaking achievements in terms of price and transaction volume demonstrate the platform’s growing significance in the cryptocurrency market. As the demand for decentralized finance solutions continues to rise, Solana’s performance and capabilities position it as a key player in the industry. Investors and enthusiasts alike will be closely watching to see how Solana navigates the evolving landscape of blockchain technology and decentralized applications in the coming months.
