Solana, a layer 1 network, has seen a surge in user activity, as its non-vote transactions reached a yearly high of 34 million on average in the past seven days. Non-vote transactions are movements of SOL, the network’s native token, between different accounts.
SOL has also performed well in the week, reaching a high of $125.9. Solana has also broken its monthly records for new and active addresses, with a few days remaining in December. The network has registered over 17.26 million active addresses, a 65% increase from November. This beats its previous record of 15.2 million in January this year.
Despite certain metrics not breaking previous records, the Solana ecosystem stands out as a top performer during the recent market rally.
In a notable achievement, the high-speed network surpassed Ethereum in decentralized exchange (DEX) trading volume, with Solana registering $10.1 billion compared to Ethereum’s $8.8 billion, according to DefiLlama.
At the time of this writing, the price rise of SOL has triggered the liquidation of more than $24.25 million in leveraged positions. Data from Coinglass shows that most of these liquidations have been short positions, with $14.07 million liquidated in the past 24 hours, compared to $10.18 million in long positions.
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