{"id":238699,"date":"2024-01-31T05:57:59","date_gmt":"2024-01-31T00:27:59","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=238699"},"modified":"2024-01-31T05:57:59","modified_gmt":"2024-01-31T00:27:59","slug":"solana-network-activity-surges-as-crypto-traders-turn-bullish-on-sol-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/solana-network-activity-surges-as-crypto-traders-turn-bullish-on-sol-crypto-news\/","title":{"rendered":"Solana Network Activity Surges as Crypto Traders Turn Bullish on SOL – Crypto News"},"content":{"rendered":"
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Solana<\/span><\/a> is having a strong week with SOL up 25% over the past seven days, popping back above the $100 mark after dipping below $80 last week. The latest revival comes amid surging network activity ahead of <\/span>Wednesday\u2019s Jupiter token airdrop<\/span><\/a>.<\/span><\/p>\n

According to data from <\/span>CoinGecko<\/span><\/a>, Solana has ticked up about 2% on the day to a current price of about $103. While still far from the 2021 peak price of nearly $260, Solana has bounced back from the lows of late 2022 when it sank down near $8. It\u2019s up 333% over the last year.<\/span><\/p>\n

Solana is seeing substantially higher activity amid the price jump as more and more traders turn to the network due in part to lower fees and speedier transactions than <\/span>Ethereum<\/span><\/a>. Trading volume on Solana <\/span>decentralized exchanges<\/span><\/a> (or DEXes) <\/span>topped that of Ethereum<\/span><\/a> for the rolling 24-hour window ending Sunday evening, per data from <\/span>DeFi Llama<\/span><\/a>.<\/span><\/p>\n

Other data from <\/span>Hello Moon<\/span><\/a> shows that an array of on-chain metrics have surged in recent days, including daily active users with a SOL wallet balance. Solana also saw an all-time daily high of new wallets being used to sign transactions last Friday at nearly 750,000 in total.<\/span><\/p>\n

SOL\u2019s uptick and rising network usage come as the ecosystem prepares for the January 31 launch of JUP, the official token of DEX aggregator Jupiter. The long-awaited token will be made available to nearly a million wallets to claim for free.<\/span><\/p>\n

Jupiter tested out its new token launchpad over the weekend with the <\/span>debut of WEN<\/span><\/a>, a meme coin that more than a million eligible wallets could claim for free. Ultimately, more than 271 billion WEN tokens <\/span>went unclaimed<\/span><\/a> by the Monday morning deadline, representing about 39% of the airdrop allocation and 27% of the total token supply.<\/span><\/p>\n

WEN\u2019s creators <\/span>burned the unclaimed tokens<\/span><\/a>, cutting the total supply, but traders quickly turned bearish on the meme coin since the initial hype. The token has lost 52% of its value since Monday morning\u2019s all-time peak, falling to a current price of $0.000086.<\/span><\/p>\n

Edited by Ryan Ozawa<\/a>.<\/i><\/p>\n

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Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Solana is having a strong week with SOL up 25% over the past seven days, popping back above the $100 mark after dipping below $80 last week. The latest revival comes amid surging network activity ahead of Wednesday\u2019s Jupiter token airdrop. According to data from CoinGecko, Solana has ticked up about 2% on the day […]<\/p>\n","protected":false},"author":2,"featured_media":219433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-238699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/238699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=238699"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/238699\/revisions"}],"predecessor-version":[{"id":238701,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/238699\/revisions\/238701"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/219433"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=238699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=238699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=238699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}