As a seasoned crypto investor with a knack for recognizing promising opportunities, I’ve been closely watching the market trends, and the recent surge in Solana (SOL) is hard to ignore. Having ridden the bullish wave of several blockchain projects before, I can sense that Solana’s end-of-year sprint could be one for the books.
Over the past day, Solana’s incoming transactions exceeded those of all significant blockchain networks like Sui, Base, Arbitrum, and Ethereum. Specifically, on December 15th, the Solana platform registered a daily net inflow of approximately $12 million.
Based on information from Artemix.XYZ, it’s worth noting that on December 15, Solana (SOL) stood out among the leading 20 blockchains with the highest daily net inflows. The net inflow for Solana, amounting to $12 million, surpassed the combined net inflows of Arbitrum (ARB) and Sui (SUI).
A month after it last occupied the leading position on Nov. 17 with a valuation of $17.6 million, Solana reclaimed its position at the top, pushing aside Arbitrum, the previous champion, from its number one spot on Dec. 15. Yesterday, Solana displaced Arbitrum, which had been maintaining the second position, due to a daily net inflow of approximately $5.9 million.
third place went to Sui, gaining a daily net inflow of approximately 5.3 million dollars; next was OP Mainnet with around 2.2 million dollars, and Base trailed closely behind with about 2.1 million dollars. At the end of the pack is Ethereum (ETH) blockchain, experiencing a daily net outflow of roughly 25.4 million dollars.
Lately, there’s been an increase in income for Solana, and it’s commonly associated with a rise in the meme coin market, particularly from pump.fun, a platform for launching Solana-based meme coins. However, contrary to previous instances, this surge isn’t directly tied to that this time.
Based on Dune Analytics’ findings, pump.fun experienced a slight decrease of around 6% in daily earnings from approximately $2.67 million on December 14th to $2.51 million on December 15th. Since peaking at $14.3 million on November 23rd, pump.fun has yet to surpass the $5 million threshold again.
Solana’s end-of-year sprint
Over the last few months, Solana has made significant strides as we approach the end of the year. According to earlier reports from crypto.news on Dec. 13, Solana was identified as the fastest-expanding blockchain, boasting an annual growth rate of up to 83%. Remarkably, it outpaced Ethereum, the current largest blockchain in the world.
In November, the trading volume on Solana’s decentralized exchange exceeded $109.73 billion for the first time ever in the crypto world. This significant increase in trading activity followed a rise in Solana’s price that pushed it above $200 for the first time in seven months of trading, thanks to an 8.69% surge. The token then peaked at an all-time high of $263.21 on November 23rd.
As I type this, Solana is being exchanged for approximately $220.76. Over the last 24 hours, its value has increased by almost 2%. This information is sourced from crypto.news. Currently, Solana boasts a market capitalization of around $105 billion and a fully diluted valuation surpassing $130 billion.
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2024-12-16 13:00