Ethereum

Solana

Solana has recently become one of the trendiest cryptocurrencies in the space, <a href="https://www.newsbtc.com/news/solana/solana-sol-massive-870-premium/">capturing the interest </a>of both crypto investors and enthusiasts in the space. The popular cryptocurrency has witnessed a significant <a href="https://bitcoinist.com/solana-sol-transaction-volume-breaks-the-charts/" rel="nofollow">surge in network activity</a>, surpassing even that of Ethereum, the world’s second-largest cryptocurrency.&nbsp; 
<h2 id="solana-outpaces-ethereum-network-activity">Solana Outpaces Ethereum Network Activity</h2> 
On March 16, Solana experienced a major increase in its overall network activity, pushing its capacity to its limits amidst the growing demands. The network had surged past <a href="https://bitcoinist.com/bitcoin-ethereum-trading-volume-over-40-billion/" rel="nofollow">Ethereum’s total trading volume</a> and exceeded its daily trading volume by more than $1.1 billion, according to <a href="https://defillama.com/chain/Solana" rel="nofollow">data</a> by DefilLama.&nbsp;&nbsp;&nbsp; 
Specifically, Solana’s 24-hour <a href="https://www.newsbtc.com/news/solana-defi-landscape-thrives-with-record-11-billion-trading-volume/">trading volume</a> had recorded almost $3 billion, surging past Ethereum’s daily volume of $2.04 billion. During the surge, the network witnessed an unprecedented amount of trading activities, which resulted in failed transactions and a surge in ping times.&nbsp; 
As <a href="https://explorer.solana.com/" rel="nofollow">highlighted</a> by Solana Validator, the cryptocurrency network’s ping time on March 18, had jumped to a staggering 46 seconds, causing about a 30% to 40% failed transactions. The validator’s report also revealed a steady and rapid increase in <a href="https://bitcoinist.com/solana-transaction-volumes-700-200/" rel="nofollow">Solanan’s transaction count</a>, recording over 276 million transactions at the time of writing, with about 2,107 transactions per second.&nbsp; 
This rise in <a href="https://www.newsbtc.com/news/from-outage-to-recovery-solana-price-bounces-back-with-network-restart-in-full-swing/">Solana’s network activity</a> has been attributed to the surge in interest in <a href="https://www.newsbtc.com/altcoin/god-candle-solana-meme-coin/">Solana-based meme coins</a>. On Thursday, March 14, degens eagerly sought after a new meme coin called <a href="https://www.newsbtc.com/meme-coin/introducing-book-of-meme-bome-the-latest-1-billion-crypto-sensation/">Book of Meme (BOME)</a>, which had experienced an unprecedented bullish spike that triggered its market capitalization to rise from almost zero to a staggering $1.45 billion.&nbsp; 
During these periods, the <a href="https://www.newsbtc.com/news/solana/solana-price-will-climb-to-750/">price of Solana</a> also rallied alongside, witnessing an unexpected price surge that propelled it by more than 30% in the past week. The cryptocurrency has been on a steady momentum since the beginning of the year, displaying slight <a href="https://www.newsbtc.com/news/company/solana-price-drops-as-altcoin-market-falters-is-it-too-late-to-buy-sol/">price corrections</a> before continuing on its upward trajectory.&nbsp; 
<h2 id="sol-price-rides-the-bullish-wave">SOL Price Rides The Bullish Wave</h2> 
Amidst Solana’s burgeoning popularity and rising transaction volumes, the cryptocurrency saw a <a href="https://www.newsbtc.com/analysis/sol-price-crosses-200/">price increase to more than $200</a>, reflecting a daily surge of approximately 8.9%, at the time of writing. The cryptocurrency’s <a href="https://www.newsbtc.com/news/solana/solana-market-cap-1000-crypto-fund-ceo/">market capitalization</a> is also up by 11.10%, recording over $89 billion and steadily closing towards the $100 billion mark.&nbsp; 
Due to its overwhelming network activities and <a href="https://www.newsbtc.com/news/solanas-biggest-memecoin-gains-681000-in-3-days-as-more-investors-bet-on-its-popularity/">growing popularity</a>, Solana has successfully gained the position of the 4th largest cryptocurrency by market capitalization, <a href="https://www.newsbtc.com/news/solana/solana-chasing-bnb-chain-race-to-5-market-dominance-heats-up/">overtaking BNB Chain (BNB)</a> by more than four billion, according to CoinMarketCap.&nbsp; 
Moreover, the cryptocurrency has <a href="https://x.com/solanafloor/status/1769599178013823394?s=46" rel="nofollow">reached</a> peak levels globally in terms of Google search interest,&nbsp; hitting a new all-time high. This surge has been attributed to the increasing interest and demand for the popular digital asset.&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/zkpeLI4h/" alt="Solana price chart from Tradingview.com (Ethereum)" width="3286" height="1530">

Solana Surpasses Ethereum In Major Metric Amid Surge Above $200

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