Could SOL be the right choice this March?

ecosystem Solana (SOL) Already seeing a surge in the number of daily active addresses, kicking off other major chains such as Ethereum (ETH) and Polygon (MATIC).

According to 1 tweet Recently via Step Data Insights, Solana’s daily active address count increased to 500,000, surpassing Ethereum and Polygon.

Data from Token Terminal backs up the move. Following a massive outage on February 26, the number of daily active users (DAUs) has surged nine-fold since March 3.

The growth in the number of users pushed the network’s transaction fees from $230 to $51,100.

Solana FUD imprisoned

Source: Token Terminal

Solana returns to action

Solana was heavily criticized afterwards blackout problem The first severe of 2023 lasted almost 20 hours. The platform has faced a lot of criticism on social media for its increasing number of outages.

However, there are early signs that things may be looking up. One of the reasons behind the recent DAU growth can be attributed to the growth in NFTs.

According to CryptoSlam, sales of on-chain NFTs have surged to $2.7 million at press time from a post-close low of $34,680. The number of independent buyers and sellers has also increased significantly.

Solana FUD imprisoned

Source: CryptoSlam

Furthermore, regarding the hype Helium Network Migration The move to Solana, scheduled for later this month on March 27, may prompt investors to ditch their FUD in favor of the network.

Could SOL be the right choice this March?

According to data from Santiment, investors are turning bullish on SOL as public sentiment towards the token improves. This is indeed an impressive recovery, although it should be noted that the numbers are still negative.

Developer activity, on the other hand, has fallen sharply over the past week. Considering the hype surrounding the upcoming Helium initiative, this is a negative sign.

Solana FUD imprisoned

Source: Santiment

At press time, SOL was trading at $20.6, down 0.2 percent over the past 24 hours, according to CoinMarketCap.

Source: TradingView

SOL’s optimism is evidenced by a sharp increase in the number of SOL long positions over the past two days, according to Coinglass.

Solana FUD imprisoned

Source: Coinglass

  • SOL Price Jumps Nearly 6% as Solana Labs Presents Latest Troubleshooting Plan
  • Solana (SOL) The worst is yet to come as uptrend loses steam

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According to Ambcrypto

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