Solana has seen increased activities after weeks of decline, with daily active addresses surging by 12% since October 5.
Leading blockchain network Solana has seen increased activities after weeks of decline, with daily active addresses surging by 12% since October 5.
This surge comes after a drop in user activity impacted the network’s revenue.
With the increasing engagement, Solana’s native token (SOL) shows signs of recovery, with a nearly 2% price increase over the past 24 hours.Solana SOL’s Network Shows Signs of Recovery
Solana experienced a slump in user activity throughout September. Data from Artemis shows that Solana’s daily transactions and network interactions dropped significantly. This decline led to a 46% plunge in total revenue, marking its lowest point since March.
The reduced activity directly impacted the network’s performance. However, since October 5, the tide has turned, with daily active addresses surging by 12%. Moreover, Solana recorded a 15% rise in new addresses.
According to Hello Moon’s data, these new addresses represent users making their first transactions on Solana.
