Solana sees a resurgence in institutional investment and user growth in Q3 2024
In Q3 2024, #Solana saw a significant surge in institutional investors in Solana-powered applications.
According to Messari, a total of 29 distributed applications (dApps) raised $173 million, up 54% from the previous quarter and the highest since mid-2022, despite a 37% decrease in the number of funding rounds.
This growth coincided with Solana overtaking #Ethereum in daily commissions, earning more than $2.54 million, compared to Ethereum's $2.07 million.
The number of Solana users paying commissions #rose to 1.9 million, up 109% from the previous quarter, while the number of new users jumped 430% to 1.3 million. However, daily non-voting transactions fell 12% to 62 million. Solana's average transaction fee rose 6 percent to about $BTC By the end of the third quarter, Solana's token volume stood at $123 million, making it the third-largest blockchain for tokenized government bonds after Stellar with $422 million and Ethereum with $ 1.6 billion.
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