The state of Solana [SOL] after this 100 billion breakthrough

Solana [SOL] joined the league of blockchains that have carried out over a billion transactions. According to information from his Official site, the SOL ecosystem was able to reach the goal, thanks to the power of 2,011 validating notes. Furthermore, these transactions were completed in an average of 3,448 seconds.

However, this landmark may not amuse some parts of the crypto ecosystem. This is because the Solana blockchain had been maintained Ethereum [ETH] hot on his heels according to a recent report.

It even surpassed it in day-to-day transactions. All of this happened within a network launched in 2019. So what else happened on the blockchain?

Victories and defeats

Looking at its place in decentralized finance (DeFi), DeFi blade showed that Solana’s Total Value Locked (TVL) was $ 1.29 billion. According to the TVL aggregator, the present value was a 2.31% increase over the past 24 hours with Solend, a dominant lending protocol.

Also, it may appear that the Solana chain didn’t perform as badly as represented by some angles, especially since this came after the positive aspects of its second quarter report.

Source: Santimento

How about the SOL price? Well, lately it hasn’t been a walk in the park like SOL shredded 1.31% in the last 24 hours, trading at $ 31.82.

Despite rising as high as $ 33 on the previous day, the current SOL momentum has been favorable to the downside.

The Relative Strength Index (RSI), which was at 45.87, revealed that SOL was not strong enough to support its previous buying momentum at 56.66. Therefore, a move in a bearish direction was expected. However, the current momentum was closer to being neutral than controlling sellers.

Source: TradingView

NFT, chain: chilling

According to his NFT data, it looked like the department was massively continuing towards the finish line. Based on CryptoSlam report, Solana NFTs recorded an 11.50% increase in the last day.

This increase totaled transactions at $ 3,153,288 at press time. With over 11,000 buyers and 54,000 transactions, SOL has proven to still be a force to be reckoned with in space.

Source: CryptoSlam

As for its performance on the chain, SOL swung on both sides. While the development activity hasn’t been a good story to tell, the volume of the past few days hasn’t been bad.

Health data indicated that Solana’s volume reached 1.31 billion on 22 September. But as of this writing, it had dropped to 834.74 million.

Source: Santimento

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