Ethereum

Solana

Bonk

Pnut

<a href="https://www.blockhead.co/tag/solana/" rel="noopener noreferrer nofollow">Solana</a> continues to break barriers with its market cap, user base, and on-chain activity.Dubbed the &#34;Ethereum Killer&#34; (mainly by Solana fanboys), Solana might be living up to its moniker as Nansen revealed yesterday that it has dethroned Ethereum as the most used chain on its platform.&#34;Solana is now the #1 most used chain on &#64;nansen_ai . First time in 4&#43; years it&#39;s not Ethereum,&#34; Nansen CEO Alex Svanevik tweeted.This month alone, Solana saw its user base top <a href="https://app.artemis.xyz/chains?ref&#61;blockhead.co" rel="noopener noreferrer nofollow">6.3 million active addresses</a>, marking a new high while 322,000 new tokens were created on Solana last week as a result of the <a href="https://www.blockhead.co/tag/memecoins" rel="noopener noreferrer nofollow">memecoin</a> craze.Although SOL is still short of its all-time high of $260, which it achieved in 2021, its current price of $242 marks a 322.50% increase over one year.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/be323b6e094b484bb5d871c673d000e4.png" />With that, its market cap now stands at just shy of $115 billion - larger than the likes of <a href="https://www.blockhead.co/tag/sony" rel="noopener noreferrer nofollow">Sony</a>, Starbucks, and <a href="https://www.blockhead.co/tag/nike/" rel="noopener noreferrer nofollow">Nike</a>.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/8599ba75674849dbbc56904385966911.png" />&#34;A sustained hold above this level would validate Solana’s bullish momentum, while a failure to do so might lead to a consolidation phase, allowing the market to digest gains before the next leg up,&#34; <a href="https://thebrn.co/?ref&#61;blockhead.co" rel="noopener noreferrer nofollow">BRN</a> analyst Valentin Fournier said.Solana, which is has emerged as a hotspot for memecoin activity, with its low fees and fast transactions offering fertile ground for tokens like <a href="https://www.blockhead.co/tag/bonk/" rel="noopener noreferrer nofollow">BONK</a>.Created in late 2022, BONK has become a symbol of Solana’s resilience post-FTX collapse. Its rise is being propelled by community-driven deflationary moves, including a planned burn of 1 trillion tokens by December, aimed at boosting scarcity and value.BONK led gains with a 97% jump in the past week, recording $2.1 billion in trading volume in the past 24 hours—outpacing rivals like DOGE and SHIB. PEPE followed closely, with its recent addition to Coinbase and Robinhood sparking a 66.35% surge over the past week.<a href="https://www.coingecko.com/en/coins/peanut-the-squirrel?ref&#61;blockhead.co" rel="noopener noreferrer nofollow">PNUT</a>, a squirrel-themed token on Solana, also saw a 1,200&#43;% gains in the past week, though at $1.58, it is currently 35.25% below its all-time high of $2.44, set on November 14.

Solana Overtakes Nike, Starbucks, Sony in Market Cap

Blockhead

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