• The Solana network is expanding at a strong pace, with over 5 million new addresses created per day.
• There has been a noticeable increase in long positions for SOL, indicating a growing bullish sentiment among traders.

Solana [SOL] has been making remarkable strides in both network growth and market momentum. With over 5 million new addresses being created daily, the blockchain is witnessing strong expansion.

This, paired with a 4.4% price surge in the last 24 hours, indicates growing investor interest and confidence in SOL’s future.

A strong foundation for SOL’s future

Solana’s growth is evident through its increasing number of new addresses, with over 5 million created daily, according to Glassnode data.

This surge in new addresses highlighted the growing adoption of the Solana network, indicating a positive outlook for the token.

As shown in the analysis, the rising number of new addresses correlated with an increase in SOL’s price, reinforcing the bullish sentiment.

More users on the network typically result in higher demand for SOL, creating upward pressure on its price.

Will the uptrend continue?

SOL has demonstrated strong bullish momentum, with its price testing and bouncing off support levels within a descending channel.

Go to Source to See Full Article
Author: Clinton Otieno

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details