Solana Surges 60% Monthly to New ATH: SOL Enters Top 10

2021-09-03 23:50:19 Primitive Reading

SOL has been among the best crypto performers in the past month and has entered the top ten after a new all-time high of roughly $65. This comes amid numerous developments and records from the Solana blockchain, including ATH for transactions and a fresh NFT collection drop that raised quite a few eyebrows.

What Happened With Solana Lately?

Dubbed as the (next) “Ethereum killer,” Solana describs itself as a “high-performance blockchain supporting builders around the world creating crypto apps that scale today.” Its network has seen a substantial increase in popularity among developers and users in recent months.

This is evident from the total number of transactions, which exceeded 24 billion, according to the project’s website. Furthermore, the total value locked in Solana has also gone for a record of its own at just over $1.9 billion.

The blockchain is also home to numerous NFT projects. As such, it has been able to capitalize on the exponential growth of the non-fungible token sector. The latest launch to cause a massive uptick in user interactions came from Degenerate Ape Academy.

Although the release didn’t go as smoothly as the protocol might have hoped, the transaction volume reached new highs. In fact, it was also observed on Arweave, which has an active bridge with Solana.

Arweave’s Founder outlined this on Twitter, saying that the daily request volume on the network “reached the insane height of 60M requests/day recently.” Moreover, when the DegenApeAcademy’s product dropped, Arweave saw 1 million requests in a single minute.

…and then this happened.

Disclaimer: This specification is preliminary and is subject to change at any time without notice. Amazon Finance assumes no responsibility for any errors contained herein.