The number of active addresses on the Solana network has seen a significant growth of 400% in the last quarter of 2023, based on data from the Messari platform.
In comparison, the number of daily transactions by Ethereum addresses only increased by 3% during the same period.
This rapid growth has led to Solana surpassing XRP in market capitalization, earning its place among the top three altcoins.
On December 21, the SOL rate rose to $81.12, with a total market capitalization of $34.578 billion, a 14% increase in just one week.
The price rally was triggered by a breakthrough above the resistance level at $60.
In November, SOL surpassed $54 for the first time since May of the previous year, and after a period of consolidation, its value started to increase once again in early winter.
Kaiko data shows that Solana’s price-to-ether ratio rose to 0.04, from 0.01 at the beginning of 2023. CoinGlass reported a rise in open interest for SOL futures to $1.13 billion on December 20.
