Solana

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-network-sees-surge-in-activity-and-interest/" data-wpel-link="internal">Solana Network Sees Surge in Activity and Interest</a> 
Solana network’s recent activity has overtaken <a href="https://coin-turk.com/ethereum-eth-ve-bitcoin-btc-fiyati-hakkinda-tartisma-cikartan-aciklama" data-wpel-link="internal">Ethereum</a>, causing the network to struggle to keep up. According to Blockchain data analytics platform DefiLlama, on March 16th, Solana’s total transaction volume exceeded Ethereum’s, reaching $3.52 billion and surpassing Ethereum’s daily volume by more than $1.1 billion. 
<h2 class="p1" style="text-align: justify" id="intense-interest-in-the-solana-ecosystem">Intense Interest in the Solana Ecosystem</h2> 
However, the Solana network struggled to keep up with the surge in activity, with many users on platform X frequently complaining about failed or incomplete transactions. The congestion on the Solana blockchain network sometimes caused the network to slow down or even halt. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-329518 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/defillama-1.webp" alt="" width="1044" height="425"> 
According to Solana Validator data shared by a user named Dagnum on platform X, Solana’s ping time on March 16th at 23:00 ranged from 20 to 40 seconds, causing approximately 50% of transactions to fail for about 20 minutes. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-329521 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/dagnum.webp" alt="" width="654" height="484"> 
The significant increase in activities on the Solana network was driven by a high appetite for new memecoin projects. On March 14th, investors showed a strong interest in a new memecoin project called Book of Meme (BOME), which surged from near zero to a market value of $1.45 billion in just 56 hours. 
Another memecoin called $NAP (NAP) also saw significant interest from investors, jumping from a market value of about $20 million to over $330 million in less than 18 hours. 
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-solana-front">What’s Happening on the Solana Front?</h2> 
Solana’s price has also risen along with the surge in network activity, and according to CoinGecko, <a href="https://en.coin-turk.com/analyst-solana-sol-is-ready-for-a-strong-bull-market-target-price-at-250/" data-wpel-link="internal">SOL</a> is currently trading at $200, showing an increase of 7.6% over the past week and 38.4% over the past month. The airdrop events and memecoin hype within the Solana ecosystem are contributing to a significant momentum in SOL’s price. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-329517 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/solana-.webp" alt="" width="965" height="435"> 
Solana’s recent gains have also led the token to surpass <a href="https://en.coin-turk.com/latest-developments-in-binance-case-former-compliance-director-fined-1-5-million/" data-wpel-link="internal">Binance</a>‘s <a href="https://en.coin-turk.com/875-day-support-could-break-doomsday-scenario-officially-unfolds-for-top-10-altcoin/" data-wpel-link="internal">BNB</a>, reaching a market value of $88.5 billion and becoming the fourth-largest cryptocurrency. Due to the overall increase in Solana’s total supply, the network’s market value is currently about $12 billion above its previous all-time high market value of $76.5 billion reached on November 7, 2021. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-network-sees-surge-in-activity-and-interest/" data-wpel-link="internal">Solana Network Sees Surge in Activity and Interest</a></h5>

Solana Network Sees Surge in Activity and Interest

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