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<p>The demand for Solana’s network has increased lately, although its price has not followed suit. But in the last month, <a href="https://captainaltcoin.com/is-solana-sol-price-set-for-a-move-toward-800/" target="_blank" rel="noopener noreferrer nofollow">Solana’s price </a>has dropped to $143.03. It was formerly $158.58.</p>
<p>This token’s network saw a spike in new accounts and transactions, while the number of active wallets remained stable. Even with these exciting numbers, <a href="https://captainaltcoin.com/analyst-warns-of-solanas-bearish-trend-will-sol-price-crash-to-80/" target="_blank" rel="noopener noreferrer nofollow">SOL’s price isn’t going up</a>. This is making investors wonder when the price will experience a pump.</p>
<h2 class="wp-block-heading" id="surge-in-new-accounts-and-transactions">Surge in New Accounts and Transactions</h2>
<p>On September 22nd, over 13 million new Solana accounts were created. That’s the most in the past week. This shows that people are still interested in using Solana.<br><br></p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-511-1024x683.png" alt="" class="wp-image-558696" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-511-1024x683.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-511-300x200.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-511-768x512.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-511-1536x1024.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-511-2048x1365.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-511-225x150.png 225w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-511-100x67.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-511-525x350.png 525w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-511-788x525.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-511.png 1080w" sizes="(max-width: 1024px) 100vw, 1024px">
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  Image Source: <a href="https://solscan.io/analytics#txs" target="_blank" rel="noopener noreferrer nofollow">SolScan</a>
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<p>Furthermore, there were more than 35 million transactions on Solana’s network yesterday. That’s the most in the last seven days. This means the Solana blockchain has been used a lot, especially in decentralized applications and DeFi platforms.</p>
<p>This action appears to be helping Solana, but it isn’t driving up costs. It appears that before deciding to sell or buy more SOL, investors are holding until anything substantial occurs.</p>
<h2 class="wp-block-heading" id="stable-wallet-activity">Stable Wallet Activity</h2>
<p>While new accounts and transaction numbers grew, the number of active wallets remained stable. The current wallet activity shows a steady user base that is not experiencing significant growth or decline. This stability can be viewed as a positive sign, demonstrating that existing users continue to engage with Solana’s offerings consistently.</p>
<p>However, the stability in wallet activity also aligns with the lack of movement in SOL’s price. The balance between new users and consistent engagement has yet to create a noticeable shift in market sentiment.</p>
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<h2 class="wp-block-heading" id="solana-s-price-movement-remains-flat">Solana’s Price Movement Remains Flat</h2>
<p>Despite these promising metrics, <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer nofollow">Solana’s price</a> showed little change. On-chain metrics often provide valuable insight into the network’s overall health but do not always result in immediate price changes. In this case, the rising numbers in accounts and transactions were not enough to drive significant price action.</p>
<p>The market appears to be in a waiting phase as traders and investors monitor for additional developments. Whether these on-chain metrics will eventually influence SOL’s price remains to be seen.</p>
<p><strong><em>Read Also:<a href="https://captainaltcoin.com/dogecoin-doge-price-is-gearing-up-for-another-bullish-leg-heres-why-0-20-is-next/" target="_blank" rel="noopener noreferrer nofollow"> Dogecoin (DOGE) Price Is Gearing Up for Another ‘Bullish Leg’ – Here’s Why $0.20 Is Next</a></em></strong></p>
<p>The current situation with Solana’s on-chain metrics highlights a broader trend in the crypto market: even positive network activity does not guarantee price movement. Although <a href="https://captainaltcoin.com/sui-network-breaks-900-million-in-tvl-as-sui-price-explodes/" target="_blank" rel="noopener noreferrer nofollow">with SUI, we see quite the opposite</a>, so you never know in crypto.</p>
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<p>The post <a href="https://captainaltcoin.com/solana-on-chain-metrics-are-rising-but-sol-price-stays-flat/" rel="noopener noreferrer nofollow">Solana On-Chain Metrics Are Rising, but SOL Price Stays Flat</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Solana On-Chain Metrics Are Rising, but SOL Price Stays Flat

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