Solana

<img width="1200" height="900" src="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06162521/ambcrypto_Prompt_A_cosmic_battleground_with_various_blockchain__a49dd2e2-a0a7-40fd-b81e-83c2a0209020-1.png" class="attachment-full size-full wp-post-image" alt="Solana floors other networks in this metric" loading="lazy" style="float:left; margin:0 15px 15px 0;" srcset="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06162521/ambcrypto_Prompt_A_cosmic_battleground_with_various_blockchain__a49dd2e2-a0a7-40fd-b81e-83c2a0209020-1.png 1200w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06162521/ambcrypto_Prompt_A_cosmic_battleground_with_various_blockchain__a49dd2e2-a0a7-40fd-b81e-83c2a0209020-1-300x225.png 300w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06162521/ambcrypto_Prompt_A_cosmic_battleground_with_various_blockchain__a49dd2e2-a0a7-40fd-b81e-83c2a0209020-1-1024x768.png 1024w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06162521/ambcrypto_Prompt_A_cosmic_battleground_with_various_blockchain__a49dd2e2-a0a7-40fd-b81e-83c2a0209020-1-768x576.png 768w" sizes="(max-width: 1200px) 100vw, 1200px">
<ul> 
 <li>Solana’s transactions crossed 622 million in November.</li> 
 <li>TVL has increased by over 80% in the last month.</li> 
</ul> 
In November, <a href="https://eng.ambcrypto.com/search/solana" target="_blank" rel="noopener" data-wpel-link="internal">Solana [SOL]</a> recorded the highest number of transactions, according to recent data. 
<h4>Solana tops the November transaction list</h4> 
Recent data from <a href="https://twitter.com/CryptoRank_io/status/1732043153333784993?t=focoF76q6RY_x4rulpxidQ&amp;s=19" target="_blank" rel="noopener nofollow external noreferrer" data-wpel-link="external">Crypto Rank</a> showed that <a href="https://eng.ambcrypto.com/upcoming-solana-airdrops-may-have-this-effect-on-the-network/" target="_blank" rel="noopener" data-wpel-link="internal">Solana</a> recorded around 622 million transactions in November. This marked the highest transaction volume among the top blockchains for that month. 
Examining the transaction trend for Solana in November, the lowest daily volume observed was around 29.9 million. 
 Also, an average daily transaction of around 35 million could be observed on the chart. Further analysis indicates a notable increase in transaction numbers for the current month, with daily transactions ranging around 40 million so far. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Top 15 Blockchains by Total Transactions in November 
 Solana <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$SOL</a> – 622M Polygon <a href="https://twitter.com/search?q=%24MATIC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$MATIC</a> – 162M Tron <a href="https://twitter.com/search?q=%24TRX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$TRX</a> – 145M BNB Chain <a href="https://twitter.com/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$BNB</a> – 115M Sui <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$SUI</a> – 78.8M NEAR Protocol <a href="https://twitter.com/search?q=%24NEAR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$NEAR</a> – 70.1M Ethereum <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$ETH</a> – 32.5M Fantom <a href="https://twitter.com/search?q=%24FTM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$FTM</a> – 31.4M Avalanche <a href="https://twitter.com/search?q=%24AVAX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$AVAX</a> – 29.2M Arbitrum <a href="https://twitter.com/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$ARB</a> – 23.1M zkSync Era -… <a href="https://t.co/7BnHJZxHDV" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">pic.twitter.com/7BnHJZxHDV</a> 
 — CryptoRank.io (@CryptoRank_io) <a href="https://twitter.com/CryptoRank_io/status/1732043153333784993?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">December 5, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h4>Solana TVL continues to rise</h4> 
Solana has been asserting its dominance not only in transaction volume but also in Total Value Locked (TVL), showing a recent surge. 
According to a previous AMB report, <a href="https://eng.ambcrypto.com/solana-tvl-grows-by-74-what-it-means-for-you/" target="_blank" rel="noopener" data-wpel-link="internal">Solana’s TVL</a> witnessed a remarkable growth of over 70% in the past month. However, the most recent data, as of this writing, showed an even more substantial increase of over 87% in the past month. 
The TVL trend, according to data from <a href="https://defillama.com/chain/Solana?txs=true&amp;addresses=true" target="_blank" rel="noopener nofollow external noreferrer" data-wpel-link="external">DefiLlama</a>, remained the highest among the top 10 chains. Also, as of the latest update, the TVL for Solana has reached approximately $697 million.&nbsp; 
Additionally, the network continued to maintain a strong user base. The DefiLlma data showed that the number of active addresses has consistently gone over 150,000. 
 This trend of sustained activity has been ongoing since November and has continued. As of this writing, the number of active addresses was over 184,000. 
<h4>SOL catches a break</h4> 
An analysis of the daily timeframe chart for <a href="https://eng.ambcrypto.com/why-solana-is-likely-to-trade-between-50-60-in-december/" target="_blank" rel="noopener" data-wpel-link="internal">Solana</a> showed a recent series of losses in the past few days. However, a positive turn was evident as of this writing. 
 At the time of this report, SOL was trading with a notable increase of over 7% in value. The spot price has climbed to over $65, surpassing the previous trading session’s range of around $61. 
&nbsp;Is your portfolio green? Check out the <a href="https://ambcrypto.com/calculator/solana-profit-calculator" target="_blank" rel="noopener" data-wpel-link="internal">SOL Profit Calculator</a> 
While it may not be at the forefront of leading assets in terms of price uptrends, it showcased an impressive upward movement in the last few months. 
<div id="attachment_81221" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06161754/SOLUSD_2023-12-06_11-22-53.png" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer"><img aria-describedby="caption-attachment-81221" loading="lazy" class="size-full wp-image-81221" src="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06161754/SOLUSD_2023-12-06_11-22-53.png" alt="Solana price trend" width="1793" height="752" srcset="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06161754/SOLUSD_2023-12-06_11-22-53.png 1793w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06161754/SOLUSD_2023-12-06_11-22-53-300x126.png 300w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06161754/SOLUSD_2023-12-06_11-22-53-1024x429.png 1024w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06161754/SOLUSD_2023-12-06_11-22-53-768x322.png 768w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06161754/SOLUSD_2023-12-06_11-22-53-1536x644.png 1536w" sizes="(max-width: 1793px) 100vw, 1793px"></a>
 Source: TradingView
</div> 
Furthermore, the trend line analysis showed a support level in the vicinity of the $50 and $51 price ranges. This suggests a stabilizing factor for Solana in the face of recent fluctuations. 
The post <a rel="nofollow" href="https://eng.ambcrypto.com/solana-can-the-spike-in-this-metric-push-sol-forward/" data-wpel-link="internal" target="_self">Solana: Can the spike in this metric push SOL forward</a> appeared first on <a rel="nofollow" href="https://eng.ambcrypto.com" data-wpel-link="internal" target="_self">AMBCrypto</a>.

Solana: Can the spike in this metric push SOL forward

AMBCrypto

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