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- Solana’s active addresses hit a record-breaking 75.2 million, highlighting growing adoption and interest.
- SOL faced resistance at $132 with bearish momentum, as liquidation data reflected ongoing market volatility.
Source: X
Exponential growth in user activity
The increase in active addresses has been exponential since mid-2023, with the number of users skyrocketing over the past several months. This surge in user activity dwarfs previous peaks, highlighting the remarkable growth in Solana’s ecosystem. The network has established itself as one of the most scalable platforms in the decentralized finance (DeFi) and non-fungible token (NFT) sectors. Solana’s user growth is a testament to its ability to handle large transaction volumes efficiently, which is a key factor in its adoption. With the upcoming developments, this trend may continue as Solana looks to further solidify its position as a leader in the blockchain space.Solana price outlook
The price of Solana has faced resistance around $132.47, with the Bollinger Bands narrowing, suggesting a possible breakout in either direction. Solana’s RSI sat at 42.07, showing weak momentum and hovering near oversold territory. This level indicated that bearish pressure may persist, but the price could see a reversal if buyers step in.
Source: TradingView
Read Solana’s [SOL] Price Prediction 2024–2025
Binance experienced the highest long liquidations, with $2.02M, while $118.95K was liquidated for shorts. This data reflected heightened volatility in Solana’s market, contributing to fluctuations in the price.
Source: Coinglass
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