Solana (SOL) continues to set new records: Today, the network surpassed 75 million monthly active addresses. This explosion reflects growing interest in Solana, especially in areas such as developer and user activity across decentralized applications (dApps), decentralized finance (DeFi), and NFTs.

With a significant increase in its activity, Solana is consolidating its position as it increasingly leaves other blockchains behind, continuing to assert itself as one of the most scalable and efficient platforms today.

However, despite the positive momentum, the market has seen recent volatility for SOL. On September 18, Solana recorded $121,000 in liquidations for short positions and nearly $3.2 million in liquidations for long positions, with the majority of short positions liquidated on Binance. This suggests that traders are becoming more cautious about Solana’s short-term price movements.

While short-term volatility is a concern, Solana’s long-term price forecasts are more bullish. According to some analysts, SOL could rise as much as 115% in the next six months, with a 52% increase over the next year. This suggests that despite short-term volatility, Solana is an attractive long-term investment opportunity.

At the time of writing, SOL is trading at $147, up 6.5% on the day and 9.7% on the week, according to data from Coingecko.

Strong user growth

One of the key factors driving Solana’s potential is its growing user base. Since mid-2023, the number of active addresses on the network has skyrocketed, now reaching 75.2 million.

SOL's market capitalization currently stands at $65.8 billion. Chart: TradingView.com

This shows that Solana is growing rapidly, capable of handling large transaction volumes at low costs. Along with that, more and more developers and users are choosing Solana, promoting the expansion of the ecosystem.

This growth is not just a short-term phenomenon. The launch of new features and updates in the coming months will likely continue to accelerate adoption, especially in areas like DeFi and NFTs where scalability is crucial.

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