Posted 1/6/2024, 6:11:42 PM
Solana Ecosystem Thrives Despite Recent SOL Price Decline
- Solana's SOL price declined 10% in early January to under $100, reversing its uptrend that saw it reach $115 on January 2
- However, Solana's ecosystem continues thriving, with a surge in transaction volume to over $40 billion, the highest since October 2022
- Meme coins like BONK and WIF have driven interest and volume on Solana recently due to impressive price gains
- Solana is emerging as a top network for stablecoin transactions, with USDC volume surpassing Tron's USDT volume by 40 billion
- Despite SOL's price struggling lately, Solana's underlying network activity and fundamentals remain strong