Solana (SOL) has attracted the eyes of the crypto market with expectations that it may rise to $780.
Analysts and market participants are trying to figure out whether Solana’s impressive gains, network activity in the recent period, and other key market developments can continue to propel the token higher to achieve this goal.
Solana Network Growth and Market Activity Fuel Optimism
Solana has recorded significant achievements based on data from blockchain analytics firm Glassnode on network activity.
Daily trading volume soared to $318 Billion and the number of addresses involved in transactions stood at more than 22 million.
This growth shows increased awareness of the blockchain, especially due to the high speed of transactions and low costs.
Source: X
Nevertheless, there are questions regarding the feasibility of this type of activity. Glassnode also pointed to shrinking average and median transaction sizes.
This would mean that some of the network activity may be
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