Solana network surpasses Ethereum by 40 times in the number of transactions in Q2

According to analysts at Nansen, the growth of the indicator was influenced by an increase in trading volumes on decentralized exchanges

20.09.2022 - 10:10

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What’s new? According to a report from analytics firm Nansen, the Solana blockchain has surpassed Ethereum in terms of user activity in Q2 2022. According to Cointelegraph, citing the document, the average daily number of transactions on the Solana network was more than 40 million, while the Ethereum network processed about 1 million transactions.

News on the Cointelegraph website

What other information is in the report? Nansen’s data shows that the increase in the number of transactions was influenced by an increase in trading volumes on decentralized exchanges (DEX) Mango Markets and Serum, as well as the decentralized oracle network Switchboard. In addition, analysts recorded a significant increase in the number of wallets on the Solana blockchain, from 400 000 to 1 million by the end of May 2022.

As of September 20, 09:40 UTC, the native token of Solana (SOL) is trading at $32,03, having gained 4,33% overnight, according to Binance. The asset ranks 9th in the CoinMarketCap rating with a capitalization of $11,37 billion.

The value of 1 ETH is $1353, it rose by 4,73% per day.

On September 7, The Block Research reported that the number of NFTs issued on the Solana blockchain reached 312 000. In addition, trading volumes of NFTs on the Solana network increased. On September 6, the total volumes across all marketplaces reached $11,5 million, the highest level since May.

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