Solana has attracted great attention in the DeFi industry recently and has shown remarkable growth. Transaction activities and revenues on blockchain have increased significantly over the past year.
Solana's Total Value Locked (TVL) increased by over 1,000% year-on-year in the second quarter. Additionally, Solana's transaction fees and revenues increased 42x on an annual basis, reaching over $26 million. Blockchain increased the total trade volume to $292 billion, a sevenfold increase compared to the same period.
Solana processed an impressive 15.3 billion transactions in the second quarter, and daily active addresses surpassed 900 thousand, a 499% increase year-over-year. This growth indicates a significant increase in adoption and usage of the Solana blockchain.
Solana's performance in the DeFi sector was particularly notable. Blockchain's Total Value Locked (TVL) has increased by over 1000% year-on-year, indicating strong growth in decentralized finance activities. Additionally, the number of new NFTs created on Solana was recorded as more than 98 million, a 54-fold increase compared to the previous year. There were 1.4 million unique NFT buyers and 678 thousand sellers on the platform in the second quarter of 2024, highlighting the vitality of the NFT market.
Moving into the third quarter, initial data from Artemis shows that Solana experienced a decrease in daily active addresses and transaction volume, while DeFi activities remain strong and TVL is increasing. This demonstrates Solana's persistence and long-term positive outlook in the DeFi sector.
SOL's Market Performance and Future Forecasts
After experiencing a brief decline at the beginning of the new quarter, the price of SOL regained upward momentum. According to CoinMarketCap, SOL has gained more than 3% in the past week and is trading at $140.57 at the time of writing. Its market value exceeds 65 billion dollars, maintaining its position as the fifth largest cryptocurrency.
Technical Indicators Point That The Uptrend May Continue
When we analyze Solana's daily chart, technical indicators are giving mixed signals. While the MACD histogram shows a slight upward pressure, the Chaikin Money Flow (CMF) shows an upward movement, indicating capital inflow into the market. However, the Relative Strength Index (RSI) is showing a downward move, indicating possible bearish pressures. These mixed signals offer a balanced view of future price trends.
FOR THE GIFT OF 10 DOLLARS, PLEASE READ CAREFULLY.
My friends, you know that we, the publishers, are doing everything we can for you here. We are informing you about the services and facilities offered to us by our authorities. I have never stopped supporting both the Cryptocurrency market and you as much as I could, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE SPECIALLY FOR ME BY BINACE. YOU CAN GET THE CONFIRMATION I SAID ABOUT THIS BY CONTACTING LIVE HELP. THIS IS A 10 DOLLAR CAMPAIGN MADE TO YOU THROUGH ME.
Now I will tell you how to receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who will benefit?
Our friends who have not activated the futures section yet, while activating your FUTURES trading section, you will earn 10 dollars when you open it by entering my reference code 88623008.
I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward by MAY 1 can do so. After activating your account, all you have to do is open your first futures transaction.
The first 1,000 brothers to open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
So let me give you a tactic like this: Even if you open and close 20x with a $5 transaction, you will be entitled to the reward.
However, even if you do this after May 1, your reward will not come. So get it done by May 1st. In fact, right now I say you can fix it in 5 seconds.
Very simple. Go to Futures, enter my reference code 88623008 and activate the account. Afterwards, just open a total of 200 USDT transactions and get 10 USDT reward.
WHEN WILL THE AWARD COME?
Your 10 dollar reward will arrive in the REWARDS section of your Binance application within 30 days, starting from May 1st. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.
You can help your friends in need by sharing this post.
BY THE WAY, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. IF YOU HAVE NOT FOLLOWED YET, DON'T FORGET TO FOLLOW. KIND REGARDS.