According to a report by The Block, the Solana network witnessed a surge in transaction volume, reaching a "multi-year high" of more than $951 billion in January. This is a 30 percent increase from the December 2023 volume of $738.8 billion.
The report emphasizes the significant growth in blockchain activity beyond 2023 and much of 2022. For example, #transaction volume on the Solana network hit a low of $40 billion in September 2023.
In addition, the Solana coin has experienced a notable increase in value. In the last week alone, the asset's price has increased by about 18%. At the moment, the cryptocurrency is trading near the $100 mark.
It is worth noting that the number of active addresses in the Solana network recently reached the maximum mark since January 2023.
Additionally, a report published in early 2024 showed that the Solana ecosystem has seen a consistent monthly number of active developers, ranging from 2,500 to over 3,000 over the past year.
