- Solana and Ethereum saw varying volumes of daily active addresses.
The ETH TVL has remained ahead of SOL’s by considerable volume.
As a researcher with experience in analyzing blockchain networks, I’ve been closely monitoring the trends of Solana (SOL) and Ethereum (ETH). Based on my recent findings, I’m observing some interesting differences between the two platforms.
Based on current data, Solana (SOL) surpassed Ethereum (ETH) in terms of transaction activity during the last 24 hours. Furthermore, this heightened activity resulted in a greater trading volume for Solana compared to Ethereum.
As a researcher studying blockchain network activity, I discovered that Solana experienced significant growth within a 24-hour period. Notably, it surpassed both Ethereum and Bitcoin in terms of active addresses – a clear indication of increased usage on its network.
Conducting a more detailed examination of the two platforms uncovered a substantial difference in the number of active addresses in recent days.
Comparing Solana and Ethereum
Over the past several weeks, Solana’s scanner data revealed a noteworthy development: The network consistently recorded over 800,000 active addresses, marking its lowest point.
At the point of composing this text, the graph showed that over a million unique addresses were in use on the network, signifying recent heightened network activity.
Over the last several weeks, Ethereum’s active address count has decreased noticeably. In fact, the graph indicates that this figure stayed under the 500,000 mark during the entire preceding month.
The number of active addresses has been hovering around 400,000 in the past few days based on data from Santiment, with roughly 141,000 addresses currently in use.
Solana trumps Ethereum volume
As an analyst, I have examined the defi market data on DefiLlama and observed some intriguing trends regarding trading volumes for Ethereum and Solana networks. In recent weeks, Ethereum has consistently recorded higher trading volumes than Solana. However, it is essential to note that there was a notable spike in Solana’s volume that surpassed Ethereum’s at one particular juncture.
At present, the transaction volume on Solana’s network amounted to approximately $1.1 billion, whereas Ethereum’s stood at roughly $1.5 billion. This implies that Ethereum’s volume has decreased, while Solana’s network volume continues to gain traction.
It’s important to mention that Ethereum (ETH) currently has a greater Total Value Locked (TVL) than Solana (SOL). Based on DefiLlama, the TVL for Ethereum was approximately $65 billion, whereas Solana had around $4.8 billion.
ETH and SOL see varying bull trends
Ethereum’s analysis by AMBCrypto on a daily chart indicated a persistent bullish trend. At the time of this report, the Relative Strength Index (RSI) value surpassed 60, signaling a robust upward momentum.
I’ve analyzed the price trend of Ethereum (ETH) and found that its value has remained relatively stable in the recent past. For the past two days, ETH experienced a daily decrease of under 1%. Currently, it is being traded around $1,877, with an insignificant rise of less than 1% compared to the previous day’s closing price.
Read Solana (SOL) Price Prediction 2024-25
At the present moment, Solana’s Relative Strength Index (RSI) reading lies on the neutral mark. This signifies that although Solana is experiencing an uptrend, its strength within this trend has lessened.
From my perspective as a market analyst, Solana’s price currently hovers around $165, registering minimal growth of approximately 0.1% at present. Similar to Ethereum, its value remains relatively stable without any major fluctuations over the recent past.
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2024-06-04 15:03