CandleFocus Analyst Says Solana is “the Gambling Chip of the AI Casino” Amid Surging Address Activity
2024-10-21
Author: Content Editor
Solana (SOL) has experienced a significant recovery in October, surpassing both Bitcoin and Ethereum in terms of performance. The altcoin's recovery can be attributed to increased user activity, rising transactions, and growing fees. Over the past three months, Solana has seen a steady increase in daily active addresses, reaching a high of 6.2 million. Daily transactions on the Solana network have also shown a parallel rise, with transaction volumes peaking at 45.2 million. Fees on the Solana network have gradually increased, reaching approximately $2.3 million. Despite initial bearish momentum, an analyst predicted a potential breakout for Solana, which has increased by over 14% in the last two weeks, reaching $170.
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