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Solana hits 832K active users per hour – Ready to outpace Ethereum?

2min Read

The competition between Ethereum and Solana is heating up!

Solana

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  • Solana saw a huge boost in engagement, hitting 832k active addresses per hour after the TRUMP pump. 
  • However, with Ethereum closing in, will it steal Solana’s spotlight?

Solana [SOL] has seen a surge in active users, with figures of 832k per hour following the launch of the TRUMP memecoin. However, while this uptick in activity signals strong user engagement, does it guarantee a rebound in the token’s price?

Solana’ surge – A fleeting fad?

The TRUMP memecoin has given Solana a major boost, sending SOL prices up 19% in just one day. Along with the price surge, active addresses on Solana soared to 832,000 per hour – Showing that the “hype” was real.

But as we know, memecoins are all about fast and volatile trades. While Solana grabbed attention, the excitement hasn’t held – SOL is now down 16% from its all-time high, suggesting user engagement may have cooled off.

Even social volume, which spiked to a new high, slipped back to a two-month low. That 19% surge is starting to feel more like a fleeting fad than the start of something lasting. 

Solana volume

Source: Santiment

With the market in turmoil, holding onto SOL could be a game of patience as its next price move looms. If active addresses start to drop, a downturn might be on the horizon, and the MACD is starting to back that trend. 

It doesn’t stop here

Ethereum’s network saw a massive boost, adding 206,290 new addresses between January 24th and 25th – The highest growth in three years.

Even with the negative sentiment around ETH, Ethereum has been holding strong as the leader in non-empty addresses, thanks to its powerhouse DeFi and staking options. 

And despite Solana’s solid fundamentals, Ethereum is still reigning supreme with a Total Value Locked (TVL) 6 times greater – Sitting at $66 billion.

ETH TVL

Source: Artemis Terminal

Clearly, there’s a reason Ethereum’s market share has stayed above $300 billion, keeping ETH as the largest altcoin. 

So, while Solana’s “TRUMP Pump” gave it a boost, it still has a long way to go to truly outpace Ethereum and live up to its “Ethereum Killer” nickname.


Is your portfolio green? Check out the Solana Profit Calculator


As for Solana’s rebound, predicting its next move is tough – Much will depend on whether the broader market bounces back or not. 

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Ripley is a full-time crypto-news journalist with a fascination for blockchain tech and how it makes lives easier on multiple levels. She has been trading since 2019, and has a keen eye for market movements and analyses.
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