Altcoins

This Signal Hinting Solana (SOL) Price to Surge 30% By Feb End?

Written by: Elena R

Written by right arrow

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

  • author twitter

Feb 23, 2022

news-image
Highlights

    Projects built on the Solana network add feathers to its cap, whilst claiming newer feats.

    The count of validators on Solana’s network crosses the 1500 mark. Folks now keen on analytics.

The crypto sphere now sees a notable uptick in monetary metrics of a number of digital assets from its directory. Which has escorted a sigh of relief from the gloom of the previous day. Solana is one such asset that has risen to a significant degree over the bygone day. 

The top-tier crypto-asset welcomes the addition of newer feathers to its cap, as the projects built on the network claim newer feats. On the other hand, the network now gets to boast another achievement, as the validator count surpasses the 1500 milepost. Crypto folks now pin hawk’s eye on the analytics and foot movements of Solana. Amidst the soaring high quest for moonish returns.

Are Solana’s Stars Inclined Irrespective Of The Market Trends?

  Solana continues to welcome a host of achievements, adoptions, and utilities that continue to escalate the network’s prominence. The projects built on Solana are now leaving no loopholes in fueling the protocol they are built on. Solana-based NFT marketplace has recently made announcements of them airdropping NFT tickets to existing Magic Eden users.

Successively, the firm also intends to form a DAO, the purpose of which is to create a stronger Solana NFT ecosystem. Other notable feats include Amun DeFi introducing SOLI, which is a low-cost, automated, and easy-to-use platform. That enables investors to get access to exposure to the native apps built on Solana. 

Protocols from Solana’s stable have been escalating at a brisk pace at a myriad of fronts. Zebec a crypto settlement platform in its funding round has raised $15 M. On the other hand, the Hackerhouse initiative has been garnering the interests of the community. As the initiative marks success stories in its voyage across nations.

Are These The Secrets To Solana’s Agile Rebound? 

  Solana is back to making a buzz in the crypto fraternity, the digital asset has been setting trends on public platforms off-late. Successively, Solana has taken trends on Twitter by storm with over 248k tweets at the time of press. The growth projection and activity of Solana have been astounding in the past couple of months. In a recent feat, the validators count has surpassed 1500 validators. The current count hovers around 1556.

Talking about metrics according to sources, the average fee per non-vote transaction of SOL is at 0.0000051. On the other hand, the total fees of non-vote transactions of SOL are at 53,238.91. The all-time transaction count is at 59,310,736,997, while the TPS hovers around 2,932. That said, it is worth noting that, the statistics are from press time. 

The hourly TPS and success rate at press time floats at 2929.68 TPS, and 85.44% respectively. The hourly number of blocks has been holding onto its average count, which for the last day was at 6,064. The daily SOL transfers have been trending southwards in recent times. The count from 21.76 M on the 16th of February has dropped to current numbers around 2.86 M. The numbers of the previous day were scripted at 8.22 M.

In succession, the daily active wallets count has been facing the bottoms off-late. Active wallets at the time of writing count 231.46k, which is yet to achieve the cliffs of the previous day at 638.99k. The analytics of new token accounts has been similar to that of daily active wallets. The current count spells 128.74k, while that of the previous day was at 361.9k.

Summing up, Solana’s astounding rebound has turned the heads of the masses in the fraternity. SOL price has risen from its cycle low, which was recorded the previous day. To its current price of $90.44 which is up 11.10%. That said, while the fundamental updates have been stout, the on-chain analytics will eventually catch the wind provided the situation persists.

 

Show More

Was this writing helpful?

dislikeimage No myImage Yes

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Related Articles

Back to top button