Number Of Daily Active Solana Accounts Rises By 300% | CryptoGazette
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The crypto market looks fantastic these days, with the prices of the most important coins exploding. Solana is also making headlines as the number of daily active SOL accounts rose by 300%.
According to new reports, the user activity on smart contract platform Solana (SOL) has skyrocketed ever since its last upgrade went live, according to a new report.
Solana daily active users
According to Our Network, a weekly newsletter focused on on-chain analytics, Solana’s daily active signers have increased by 300% since the last update, which took place back in late September.
The report notes that the daily active signers metric is a good proxy for network users.
“Unique signers peaked at 299,000 in late January, but tapered off a bit to 232,000 after the network’s most recent bout with degraded performance.”
The same notes reveal the following:
“Solana’s long-term uptrend has recently been bolstered by its two top wallets – Solflare and Phantom – launching their own iOS mobile apps, along with strong consumer participation in the Solana NFT market.”
The same report also notes that one contributing factor to the surge in activity on Solana is its vibrant non-fungible token ecosystem (NFT).
The report made sure to note that there has been a massive increase in NFT owners ever since Metaplex, a protocol, and application framework for decentralized NFT minting, storefronts, and sales, went live on Solana.
We suggest that you check out the complete report in order to learn all the available details about the project’s trajectory.
Solana embraces institutional inflows
It’s been just revealed that there is a leading digital asset manager says institutional inflows for Bitcoin (BTC), Solana (SOL), and Avalanche (AVAX) are up.
According to the latest Coinshares report, the digital asset investment products had total weekly inflows of $109 million despite bearish market action.
It’s been also revealed that Bitcoin managed to see $89 million worth of inflows.
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