According to The Coin Republic, Solana's network transactions have surged close to 70 million daily transactions earlier this week, marking a significant increase from the previous month's 60 million. Despite this rise, Solana's native coin, SOL, has struggled to regain its bullish momentum, dipping below $200 for the first time since November 10. The coin's price has since rebounded to $205.27, but concerns remain about its ability to sustain this recovery amid ongoing sell pressure. Solana was the most dominant blockchain network in November 2024, capturing 53% of global crypto users. However, daily active addresses have decreased from 6.63 million on November 22 to 4.91 million by December 18, reflecting a cooling market. The future performance of SOL may depend on market conditions and its ability to capitalize on key narratives.
Solana Transactions Surge to 70M, SOL Struggles Below $200 Amid Market Pressure
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