- Solana Newtwork users had dropped to a two-year low.
- SOL experienced an increase of over 3% in the last 24 hours.
Solana (SOL), one of the top 10 cryptocurrencies in the world by market cap, has shown a significant surge in the last 24 hours. The unexpected increase from Solana caught the attention of the cryptocurrency community, even though the entire market is in severe decline. At the same time, the number of active addresses on the Solana network reached a two-year low recently.
Crazy to see that Solana users just hit a two year low, but that we have also just had the big news for Shopify and Visa. pic.twitter.com/GJvUmAaJza
— Lark Davis (@TheCryptoLark) September 6, 2023
On September 6, the founder of Wealth Mastery, a crypto newsletter, Lark Davis, tweeted that Solana users have dropped to a two-year low. On the other hand, Solana has recently revealed the big news that Visa is expanding its USDC settlement pilot to the Solana Blockchain. Following the announcement, SOL experienced an increase of over 3% in the last 24 hours. Adding to that, Solana Pay recently partnered with Shopify to enable USDC payments via a plugin.
While SOL is experiencing a remarkable surge in price, the active wallet address has shown a massive drop. However, the recent Visa expansion update is expected to bring users back to the Solana Network again.
Solana Climbs to the Top Gainer List
Adding to that, with this sudden surge, Solana climbed to the second position on the top gainers list on September 6. Notably, among the top 100 cryptocurrencies, SOL has been the top gainer in the last 24 hours. The top cryptocurrencies, including Bitcoin and Ethereum, have experienced bearish momentum over the past few weeks. The remarkable surge from Solana is expected to boost investor’s confidence.
At the time of writing, Solana has been trading at $19.82, with an increase of over 2.84% in the last 24 hours. The daily trading volume of SOL has experienced a massive surge of 81.04%, according to CoinMarketCap. Moreover, SOL’s price is inching closer towards the $20 mark. With bullish momentum, Solana is expected to cross the $20 mark soon.
Do you think SOL will continue its bullish momentum to breach the $20 mark? Tweet to us at @The_NewsCrypto and let us know your thoughts.
