Solana, one of the leading crypto projects of recent years, is on the verge of an exciting milestone. According to an analytics data platform, Step Data Insights, shared in a post on Twitter Solana is nearly at the 1 million mark for daily active addresses. This has been accomplished after 600 thousand additional addresses were added in the past 48 hours.

Daily active addresses give more insight into the level of network engagement, adoption, and activity of a crypto project. The recent increase in daily active address means that more users are joining the Solana network. Unfortunately, the market conditions of the cryptocurrency have still caused a small dip in price over the past day.

At the time of press, Solana (SOL) is trading at a price of $21.09, a decrease of 0.29% in the past 24 hours. As a result, the cryptocurrency has weakened against both Bitcoin (BTC) and Ethereum (ETH) by 0.67% and 0.45%, respectively. The 24-hour trading volume also decreased significantly over the past 24 hours and was recording at 221,210,848 USD.

Over the week, Solana (SOL) has experienced a major loss of 4.69% and the performance of the cryptocurrency further declined by 0.27% in the hour prior to press time. This slump in the market conditions of the coin has discouraged many crypto enthusiasts in the crypto space.

The coin was able to set a daily high of $21.24 and a daily low of $10.67 over the same period which indicates a high volatility in the market. Solana's recent spike in daily active addresses, nevertheless, exemplifies that the crypto project has a large loyal user following and a increase in engagement. Although in the short term, Solana has not been affected positively by this spike, the long-term prospects look promising, as the project moves ever closer to the 1 million daily active addresses milestone.



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