Featured image from LinkedIn, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Solana has recently become one of the trendiest cryptocurrencies in the space, capturing the interest of both crypto investors and enthusiasts in the space. The popular cryptocurrency has witnessed a significant surge in network activity, surpassing even that of Ethereum, the world\u2019s second-largest cryptocurrency.\u00a0 Solana Outpaces Ethereum Network Activity On March 16, Solana experienced a major increase in its overall network activity, pushing its capacity to its limits amidst the growing demands. The network had surged past Ethereum\u2019s total trading volume and exceeded its daily trading volume by more than $1.1 billion, according to data by DefilLama.\u00a0\u00a0\u00a0 Related Reading: Crypto Analyst Predicts Further Upside For Shiba Inu, Here\u2019s The Target Specifically, Solana\u2019s 24-hour trading volume had recorded almost $3 billion, surging past Ethereum\u2019s daily volume of $2.04 billion. During the surge, the network witnessed an unprecedented amount of trading activities, which resulted in failed transactions and a surge in ping times.\u00a0 As highlighted by Solana Validator, the cryptocurrency network\u2019s ping time on March 18, had jumped to a staggering 46 seconds, causing about a 30% to 40% failed transactions. The validator\u2019s report also revealed a steady and rapid increase in Solanan\u2019s transaction count, recording over 276 million transactions at the time of writing, with about 2,107 transactions per second.\u00a0 This rise in Solana\u2019s network activity has been attributed to the surge in interest in Solana-based meme coins. On Thursday, March 14, degens eagerly sought after a new meme coin called Book of Meme (BOME), which had experienced an unprecedented bullish spike that triggered its market capitalization to rise from almost zero to a staggering $1.45 billion.\u00a0 During these periods, the price of Solana also rallied alongside, witnessing an unexpected price surge that propelled it by more than 30% in the past week. The cryptocurrency has been on a steady momentum since the beginning of the year, displaying slight price corrections before continuing on its upward trajectory.\u00a0 SOL Price Rides The Bullish Wave Amidst Solana\u2019s burgeoning popularity and rising transaction volumes, the cryptocurrency saw a price increase to more than $200, reflecting a daily surge of approximately 8.9%, at the time of writing. The cryptocurrency\u2019s market capitalization is also up by 11.10%, recording over $89 billion and steadily closing towards the $100 billion mark.\u00a0 Related Reading: XRP Records Massive 80% Surge In Trading Volume \u2013 Can Price Reach A New ATH? Due to its overwhelming network activities and growing popularity, Solana has successfully gained the position of the 4th largest cryptocurrency by market capitalization, overtaking BNB Chain (BNB) by more than four billion, according to CoinMarketCap.\u00a0 Moreover, the cryptocurrency has reached peak levels globally in terms of Google search interest,\u00a0 hitting a new all-time high. This surge has been attributed to the increasing interest and demand for the popular digital asset.\u00a0 SOL price crosses $200 | Source: SOLUSD on Tradingview.com Featured image from LinkedIn, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":598528,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[1946,7931,12837,91872,86420,83626,89405,87685,85361,86410,83627],"class_list":["post-598503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-ethereum","tag-ethereum-news","tag-sol","tag-sol-performance","tag-sol-price","tag-solana","tag-solana-news","tag-solana-performance","tag-solana-price","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\n
Solana Surpasses Ethereum In Major Metric Amid Surge Above $200<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n