• 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.

Solana [SOL] has reached a new milestone with 75.2 million monthly active addresses, setting an all-time high (ATH). This surge marked a substantial increase in user activity and adoption, showcasing the network’s growing popularity. 

The recent spike in activity highlighted how Solana is attracting more developers, users, and decentralized applications (dApps).

As the network continues to expand, the potential for further growth in adoption is evident, especially with the launch of new features and updates in the coming months.

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.

Additionally, the MACD formed a bearish crossover, confirming increasing selling momentum. If the bearish sentiment continues, Solana could test the lower Bollinger Band at $124.88. 

A break below this could push the price to the $120 support zone, while a reversal above $132.47 could lead to a test of the $140 resistance level.

On the 18th of September, Solana saw $121.31K in short liquidations and $3.19M in long liquidations, indicating a more substantial impact on long positions.

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Read Solana’s [SOL] Price Prediction 2024–2025

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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.

Solana’s price at the time of liquidation was $129.39, showing the impact of leveraged trades in the current market. Traders should remain cautious as liquidation data signals ongoing volatility across exchanges.

Tesla CEO Elon Musk has weighed in together with his ideas on the actual id of the mysterious Satoshi Nakamoto, the nameless particular person or group credited with creating bitcoin.

Musk addressed the thriller of the bitcoin creator’s id throughout a podcast printed Tuesday. Throughout the look, the host requested whether or not it was a “function or a bug” that bitcoin’s creator has by no means revealed themselves, prompting Musk to offer his idea on the state of affairs.

A outstanding cryptocurrency advocate, Musk argued that laptop scientist Nick Szabo is most “accountable” for bitcoin’s growth.

Nevertheless, he stopped wanting naming him because the creator of the cryptocurrency itself.

“You possibly can have a look at the evolution of concepts earlier than the launch of bitcoin and see who wrote about these concepts,” Musk mentioned on the Lex Fridman podcast.

“Clearly I don’t know who created bitcoin for sensible functions, however the evolution of concepts is fairly clear earlier than that. It appears as if Nick Szabo might be, greater than anyone else, answerable for the evolution of these concepts.”

“He claims to not be Nakamoto however that’s neither right here nor there. He appears to be the another answerable for the concepts behind bitcoin than anybody else,” Musk added.

Szabo has lengthy been seen as a possible candidate for Nakamoto. The pc scientist created a bitcoin predecessor referred to as “bit gold” within the late Nineties.

In 2014, a crew of UK-based linguistics researchers in contrast the well-known bitcoin whitepaper attributed to Nakamoto to the works of 11 individuals suspected of being the creator. The researchers concluded Szabo was the probably candidate.

For his half, Szabo has constantly denied being bitcoin’s creator, together with in a 2014 tweet through which he wrote he was “Not Satoshi, however thanks.”

Whereas many individuals, together with Musk himself, have been tabbed as potential candidates, the true id of bitcoin’s creator — or creators — has but to be confirmed. Throughout the podcast interview, Musk once more denied that he’s the actual Satoshi Nakamoto.

“I’m not,” Musk mentioned. When requested if he would inform the reality if he was, the billionaire responded with amusing and a easy, “Sure.”