Solana Price Soars Past $104 Amid Record Network Activity
Solana's price surged past $104 as network activity reached new heights. The blockchain reported 5 million daily active addresses, marking another major record for Solana. This increase in activity coincided with a sharp rise in trading volume, which climbed to $5.28 billion in 24 hours.
The SOL crypto price gained 7.55% over the same period, positioning it among the stronger assets in the market. Additionally, tokenized commodity supply on Solana reached $49.8 million, with most of the new supply coming from SLVR, which recently launched on the network.
A trader who had remained inactive for two years also contributed to the latest surge in SOL's price by buying 95,928 SOL worth around $9.74 million. This purchase is significant as it follows a pattern of previous trades made by this trader, resulting in combined profits of $4.95 million.
The combination of these factors has kept attention on Solana's price as market participants track the next move.