Solana's Activity Surge Raises Questions About Real Demand

Solana's recent surge in activity has raised questions about its underlying demand. The blockchain network saw a significant increase in active addresses, reaching 4.51 million - its highest level since February.

This growth was driven by both tokenized stock transfers and meme coin trading. Tokenized stock transfer volume on the platform crossed $10 billion last week for the first time, with traders treating Solana as more than a speculative chain.

The rise in activity also saw the price of SOL increase by about 7% over seven days, while Bitcoin fell roughly 4.9% and Ethereum dropped about 6% over the same period.