Solana is leading the bull market phase by experiencing a noteworthy surge in blockchain-centric activity. The network at the moment is enjoying all the latest bull market perks. The network is experiencing strong user interest and sentiment, driving its growth and development.
Solana is currently facing a flurry of on-chain activity, with transactions soaring and surging to new highs. The network’s fee has surpassed that of Bitcoin’s, signaling heightened user interest and interaction.
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SOL Beats Bitcoin in Terms of Network Fees.
In a noteworthy development, Solana has defeated Bitcoin in fee revenue over the past seven days. The influx of users on Solana has breached new records, taking the revenue fees to new highs.
Per Solana Floor, a Solana-based metrics platform on X, users have paid a whopping $16,000 SOL as fees in the last 24 hours. Amounting to nearly $3.12 million at the current price, the token is experiencing massive user interest, driving its popularity to new levels.
Per Santiment, the network has also been enjoying a steady market momentum, with users exploring Solana to conduct diverse transactions. Solana has been trending on all social media platforms, including Reddit and X, hinting at its massive popularity quotient. Santiment further notes how SOL is being considered a credible alternative to Ethereum-based projects.
Also Read: From 2 SOL to $260K: Trader’s 704x Gains Stuns Investors
Heightened Used Interest: Will The Token Reclaim $200 By March End?
Solana has lately been grabbing headlines, particularly for its meteoric price hike in the past month. Per CoinMarketcap, the crypto has surged more than 40% in the last month, followed by an uptick of 10% in the last seven days. Stable at $167, the coin is poised to encounter minor sways before breaching its previous ATH of $200.
Per CoinCodex, SOL may soon cross its $200 price threshold. The platform predicts the token will breach the $200 mark by March 26.
“The SOL price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these Solana projections, SOL will be changing hands at $246.40 on March 26, 2024, gaining 46.76% in the process.”