The Solana network is back and busier than ever. According to on-chain data, Solana has witnessed a surge in trading activity active addresses as it continues to attract traders and investors amidst a consolidation in the entire crypto market. 

This surge has pushed Solana to a new milestone in over two years. The network’s daily transaction count reached 51.63 million on November 24th, a jump of over 144% from the previous day’s count of 21.1 million transactions. 

Spike In Daily Transactions On The Solana Network

Solana remains Ethereum’s closest competitor among altcoins, registering impressive gains so far this year. After a relatively quiet first half of the year, Solana started to gain momentum last month in October, resulting in a substantial increase of over 300% in its annual gains as of the time of writing. 

As Solana continues to gain traction in terms of price action, data from on-chain analytics platform Artemis has shown a similar sentiment in daily transactions and daily active addresses. 

The network registered 51.63 million transactions on November 24th, a level which it hasn’t seen since November 2021. Back then, the network registered consecutive days of daily transactions above 55 million during the bull market run which saw SOL reach its current all-time high of $260.

The current surge in transaction count is a reflection of the current activity on the Solana network. In comparison, Artemis and Polygon registered 1.07 million and 16.23 million transactions respectively on November 24th. 

Total crypto market cap is currently at $1.4

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Author: Scott Matherson

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