Solana’s on-chain data defies bearish technical indicators
Share link:In this post: Solana’s daily non-vote transactions have surged to 50 million, indicating growing activity in DeFi, gaming, and other DApps. Active addresses on Solana have reached 2 million daily and 60 million monthly, showing increasing user adoption. Despite a drop in SOL derivatives trading volume, long/short ratios indicate a bullish sentiment among traders.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the
Solana’s on-chain data show a picture that’s quite different from what technical indicators are showing. Despite bearish signals, the network has been buzzing with activity.
Bullish network
Daily non-vote transactions on the Solana network have been climbing steadily, reaching around 50 million. This rise since early 2024 indicates more users are engaging with decentralized finance (DeFi) apps, gaming, and other DApps.
On a monthly scale, non-vote transactions peaked at about 1.2 billion, aligning with the daily trend and showing strong network activity.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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