Ethereum

Solana

Memecoin

Daily

<ul class="wp-block-list">
 <li>Solana’s daily active addresses hit a record high of 5.4 million, showing a rise in trading activity and user engagement.</li>
 <li>The blockchain has recorded over 41 million daily transactions, outpacing major rivals like Ethereum and BSC Chain.</li>
</ul>
Solana’s blockchain is displaying a significant surge in trading activity, setting new records. The number of daily active addresses (DAA) on the Solana network has reached 5.4 million, the highest level ever recorded. This rise indicates increased engagement on the platform, with daily transactions exceeding 41 million, outpacing networks like Ethereum and Binance Smart Chain.
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="12681" height="4442" src="https://thenewscrypto.com/wp-content/uploads/2024/09/IMG-01.jpg" alt="" class="wp-image-107747">
 <figcaption class="wp-element-caption">Solana Trading Activity (Source: <a href="https://app.artemis.xyz/chains" target="_blank" rel="noopener noreferrer nofollow">Artemis xyz</a>)
 </figcaption>
 </figure>
</div>
Solana has also hit new highs with daily transactions, reaching over 40.3 million—outpacing major players like Ethereum and Binance Smart Chain (BSC). Further, the number of new addresses on Solana is rising, a sign of growing interest and adoption of the blockchain.&nbsp;
<h3 class="wp-block-heading" id="h-memecoin-dip-and-sol-price-struggles">Memecoin Dip and SOL Price Struggles</h3>
Interestingly, while Solana’s transaction numbers are up, its memecoin marketplace, Pump.fun, has seen a downturn. <a href="https://thenewscrypto.com/solana-meme-coins-slump-as-pump-fun-loses-momentum/" target="_blank" rel="noopener noreferrer nofollow">Revenue</a> from this memecoin launchpad dropped by 80% since late July.&nbsp;
Previously, <a href="https://thenewscrypto.com/pump-fun-warns-us-users-of-possible-access-restrictions-in-48-hours/" target="_blank" rel="noopener noreferrer nofollow">Pump.fun</a> had contributed to Solana’s market momentum since its launch in January. The Launchpad platform is still operational and generates numerous memecoins on a daily basis. 
While the Pump.fun slowdown, leading meme coins in the marketplace like Dogwifhat (WIF) and Book of Meme (BOME) have captured the crypto community’s attention. WIF saw a 7% rise over the past week, reaching $1.58, while BOME experienced a 5% increase, now trading at $0.006389.
However, Solana’s native token, SOL, continues to struggle, remaining range-bound amid a broader bearish market sentiment. At the time of writing, SOL trading at $131 shows a decline of 2.42% over the past day. Daily trading volume has also decreased by over 20%, now at $1.85 billion. This decline in SOL’s price follows a similar pattern seen in Bitcoin (BTC), which is struggling to hold above the $58K zone.
In summary, while Solana’s network activity and adoption are hitting new highs, the price of <a href="https://thenewscrypto.com/solana-sol-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">SOL remains under pressure</a>, reflecting ongoing market challenges.
Highlighted Crypto News Today
<a href="https://thenewscrypto.com/uae-boosts-virtual-asset-leadership-with-sca-and-vara/" rel="noopener noreferrer nofollow">UAE Boosts Virtual Asset Leadership with SCA and VARA</a>

Solana Daily Active Addresses Hit All-Time High Amid SOL Price Struggles

Table of Contents

TheNewsCrypto

Other articles published on Sep 11, 2024

Weekly Article Recap: 9/02-9/06

Atomic Wallet Wins Dismissal in $100M Hack Lawsuit

Standard Chartered Launches Digital Asset Custody Service in UAE

Io.net and Flock.io Launch World’s First Proof-of-AI Consensus Mechanism

Huma secures $38m investment, eyes expansion to Solana and Stellar

Crypto Stocks Drop as Harris Outshines Trump in Heated Debate, Market Eyes CPI Report

Join our free newsletter for daily crypto updates!