From the price of their token, to real world applications, Solana has been on a tear. And now they are even getting close to surpassing the activity on Ethereum.
What’s happening:
- Layer 1 blockchain Solana has hit a new milestone, surpassing Ethereum in weekly volume for stablecoin transfers for the first time ever
- Solana also surpassed Ethereum last week in total volume across NFTs
By the numbers:
- Last week Solana saw over $100B USD in stablecoin transfers on their network
- Ethereum saw $90B USD in stablecoin transfers
- Solana also experienced $366M USD in total volume across NFTs, slightly surpassing Ethereum’s volume of $353M USD
Why it matters:
- Solana has been experiencing massive momentum, from adding real world integrations with major partners such as Shopify and Visa to selling out of their Saga mobile phone in the United States and Europe
Going deeper:
- One of the biggest areas of growth in Solana’s ecosystem is the influx of new tokens being minted on Solana’s SPL token standard
- Just in the last two weeks alone, more than 72,000 new tokens have been minted on the Solana network which furthers validates that Solana is becoming one of the most popular blockchains to build on top of
