A large rise in the number of Solana new wallet addresses!
An essential measure of network activity and future growth on the Solana network is the quantity of new wallet addresses produced each day. The number of newly established wallet addresses on the network surged from 193,000 to 336,000 between September 17 and November 17, suggesting a rise in interest and engagement in the Solana network.
The rise of newly created wallet addresses usually signifies a greater need for SOL and broader network uptake.Additionally, the 20-day Exponential Moving Average's (EMA) upward slope indicates that it is a crucial support level in the event of a probable price drop for SOL.
At its current high of 74, the Average Directional Index (ADX) points to a probable depletion of bullish momentum and warns that SOL may need to collapse.
