Solana (SOL) has been making good progress over the past few days, according to the charts. The price of SOL increased by 9.40% in the last 24 hours. This has been made possible by a great deal of individual appreciation as well as the overall market recovery since mid-July. The vast expansion of the Solana ecosystem, however, is another reason contributing to the same
Several tokens have recently seen an increase in activity, according to Solana News. With £204 million in trading volume, Stepn’s GMT token is the most actively traded token on Solana. The SRM token, at roughly £84.8 million traded during this time, took the second spot.
The community was recently updated on the increasing number of active addresses on Solana dApps. Gameta, a gaming platform, topped these ranks with more than 50.11k users. With more than 30.22K users on the day, the NFT marketplace Magic Eden came in second.
Additionally, Solana tweeted about the top-trading NFT collections during the last 24 hours. With figures of over £150,000, Genesis Genopets Habitats recorded the largest sales volume since yesterday. Okay Bears, which had sales volume of £118,000 on the day, ranked number two. Dust Mines, Mischievous Maxi, and Infected Mob collections are currently following these collections.
However, it’s important to note that despite the volume increase in these collections, Solana’s NFT sales decreased by 25% last week.
Also lately, Solana’s Nakamoto Coefficient reached 31. Since the chain’s launch in March 2020, it has been rising steadily.
This coefficient aids in assessing the ecosystem’s health, and Solana is giving off all the right signals. This progress was recently made available to the community by the Solana Foundation.
Now that the crypto industry is rapidly recovering, the network may be ready to broaden its application in all areas. As expected, SOL is also benefiting from the ecosystem’s growth, with its price at £38.8 at the time of writing.