Solana: Reasons why SOL holders can celebrate over the weekend

ambcrypto.com:

Solana has managed to show positive gains even during the crypto crisis in the second quarter of 2022. While the broader market drawdown has been prevalent across the entire market, Solana has retained users and activity from the previous quarter.

The SOL token, however, has fallen well over 64% from its all-time high (ATH) of $258.93.

The latest data from Solscan has thrown light on these updates of the Solana network. The daily active addresses on Solana have shown a surprising increment since the ATH in November 2021.

Furthermore, unique addresses on Solana peaked at 697.8k during the November rally. These numbers increased over time and surpassed the 850k mark on 14 July. Not only has Solana retained old users, but it has also been attracting new users from the industry.

Source: Solscan

User transactions on Solana have seen a dip of over eight million transactions. In comparison to other Layer-1 chains, Solana has fared well in retaining users. This is in part to Solana’s developing ecosystem which has improved radically in recent months.

Source: CoinMarketCap

Solana users have more reasons to be joyous during this relief period. The network is set to launch the Tomorrowland NFT collection. If you don’t know it yet, Tomorrowland is one of the world’s biggest music festivals.