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Solana's Price Down, Activity Up
Summary: Solana’s price troubles do not seem to have affected developers in the ecosystem. Data from BitPush Terminal shows SOL being down 66% from its all-time high, but activity continuing to increase. Solana is a decentralized blockchain with a fast growing ecosystem in crypto. They have thousands of projects ranging from DeFi, NFTs, Web3 and more. ...
Solana’s price troubles do not seem to have affected developers in the ecosystem. Data from BitPush Terminal shows SOL being down 66% from its all-time high, but activity continuing to increase.
Solana is a decentralized blockchain with a fast growing ecosystem in crypto. They have thousands of projects ranging from DeFi, NFTs, Web3 and more. Their native cryptocurrency is SOL.
Going by Santiment’s platform development activity metric, the Solana blockchain’s repository has recorded an activity rate of 2228.29, one of the highest in crypto for this month.
This metric has several positive undertones for the Solana blockchain: the project's seriousness about efforts to improve its features, and new features likely to launch soon.
The positive data does not stop there. Trailing only Uniswap, Solana received 418.8 notable GitHub submissions per day in the last month. In addition, as of last month the Solana blockchain registered the highest number of GitHub commits of any Layer-1 platform in crypto for the past three months.
GitHub is a provider of Internet hosting for software development and version control using Git. A commit is a snapshot of a user’s entire repository at a given time. GitHub encourages users to frequently make new commits in order to create an evolving story of one’s repository.
SOL, the native Solana blockchain token, is trending upwards and being traded right around the $90 mark, about a 10% increase on the weekly chart.
The increase of SOL also coincides with a Coinbase announcement, that said their self-custody crypto wallet will support Solana tokens. That announcement made Solana and its ecosystem tokens the first non-EVM assets to be supported by Coinbase’s wallet.
An Analytics Insight report highlights that Solana’s strength is in its scalability with the ability to process over 50,000 transactions per second. It also notes that until ETH 2.0 releases, nothing is stopping SOL, with some experts predicting a price rise of up to $1000.
While this is a little broad, the cryptocurrency community at CoinMarketCap, predicts the price to be at $157.46 by the end of March. This price estimate was predicted by 10,692 members that submitted a vote to the platform.
