Redesigned for Better Organization and Clarity: Solana Mints, But Will it Touch the $200 Mark?

Solana Sees Spike in Transaction Volume

Solana, one of the most active networks, has seen a significant surge in engagement levels over the past few months, despite concerns surrounding FTX and potential asset distribution. Despite these concerns, bulls are optimistic about the future.

Holders expect SOL prices to climb higher in the coming days for several reasons, including the “Uptober” excitement and on-chain activity directly correlating with SOL demand.

Solana Flips Ethereum and Layer-2s in Transaction Volume

According to a post on X, one analyst notes that Solana is registering more volume than Ethereum and its layer-2 platforms like Base, Arbitrum, and Optimism. Over the last day, Solana posted over $1.6 billion in volume, adding 45%.

Ethereum posted over $751 million during this time, up 4%. While there was impressive growth on Base and Arbitrum, with 22% and 47% respectively, volume was low.

According to the source, Solana outperformed Ethereum and its layer-2s, surpassing activity on the BNB Chain. While the platform is the third most active, generating more volume than any of the multiple Ethereum layer-2s, volume fell by nearly 3% to $671 million.

Pump.Fun Token Plans to Push SOL Above $200?

With Solana improving and becoming more reliable, low fees and the success of tokens like Bonk and DogWifHat, for example, have led to a surge in meme coin activity. Even with Tron launching SunPump, Pump.fun activity is picking up steam.

The team behind Pump.fun is planning to launch their native token and release a meme coin trading portal for professional traders. With the planned release of Pump.fun’s native token, activity on Solana could continue to rise as users scramble to engage and stand a chance of receiving free tokens.