Solana has joined the list of crypto projects that have completed more than a billion transactions. Data from SOL’s official website shows the Solana ecosystem attained a milestone due to the 2,011 validator nodes. Also, the blockchain conducted these transactions at 3,448 seconds on average.
Nevertheless, this milestone may not please some crypto ecosystem’s parts. That comes as the SOL blockchain has kept ETH alert, according to the latest reports.
It even outshined it in 24hr transactions. Meanwhile, these have emerged in a platform that arrived in the market in 2019. Meanwhile, what else did the blockchain present?
Wins & Losses
Assessing its performance in DeFi (decentralized finance), DeFiLlama noted that SOL’s TVL (total value locked) stood at $1.29 billion. The TVL aggregator indicated that the current number reflected a 2.31% uptick within the previous 24 hours, with the lending protocol Solend dominating.
Furthermore, it might appear that Solana wasn’t performing as severely as some corners suggest, as this emerged after optimism on its 2nd-quarter report. What about the $SOL price? Solana struggled within the overall market, surrendering 1.31% within the past 24 hours to change hands at $31.82.
Solana exhibited downside tendencies despite surging towards $33 over the past day. The RSI (Relative Strength Index) read 45.87, proving that Solana wasn’t prepared to keep its previous buying pressure at 56.66.
That confirmed an imminent bearish move for the indicator. Nevertheless, the prevailing momentum was about to be neutral than bearishness.
On-Chain, NFTs – Chilling
According to Solana’s NFT data, the department seemed to have shown dedication to the milestone. CryptoSlam’s data shows SOL NFTs noted an 11.50% upsurge within the previous day. This surge had total transactions at $3,153,289 during this publication.
With 54,000 transactions and more than 11,00 buyers, Solana confirmed its presence within the marketplace. On the on-chain front, Solana has swung both sides. The crypto’s development had nothing impressive to present, while volume attempted to steady within the past few days.
Santiment data shows SOL’s volume soared towards 1.31 billion by September 2022. While writing these lines, the metric had plunged to 834.75 million.
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