{"id":380470,"date":"2024-03-31T04:30:06","date_gmt":"2024-03-30T23:00:06","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=380470"},"modified":"2024-03-30T12:53:09","modified_gmt":"2024-03-30T07:23:09","slug":"solanas-2-year-high-how-wif-pepe-and-bome-played-a-part","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/solanas-2-year-high-how-wif-pepe-and-bome-played-a-part\/","title":{"rendered":"Solana&#8217;s 2-year high: How WIF, PEPE and BOME played a part"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">Demand for Solana has risen to its highest level since 2022.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">Its DeFi and NFT have witnessed growth since the beginning of March.<\/span><\/i><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">User activity on Layer 1 (L1) blockchain network <a href=\"http:\/\/ambcrypto.com\/category\/solana-news\/\" target=\"_blank\" rel=\"noopener\">Solana [SOL]<\/a> has climbed to a two-year high in March, according to <\/span><a href=\"https:\/\/www.theblock.co\/data\/on-chain-metrics\/solana\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Block data dashboard<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The surge in Solana\u2019s network activity since the beginning of March is attributable to the uptick in memecoin trading activity on the network.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the last month, the values of Solana-based meme coins such as Book of Meme [BOME], <a href=\"http:\/\/ambcrypto.com\/predictions\/dogwifcoin-price-prediction\" target=\"_blank\" rel=\"noopener\">dogwifhat [WIF]<\/a>, and <a href=\"http:\/\/ambcrypto.com\/predictions\/pepe-price-prediction\" target=\"_blank\" rel=\"noopener\">Pepe [PEPE]<\/a> have risen by 1561%, 464%, and 157%, respectively.<\/span><\/p>\n<h4><b>Solana reaches new milestone<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">AMBCrypto found that in the past 29 days, the number of unique addresses that have signed transactions across the Solana network has totaled 34.21 million. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This marks a 70% spike from the 20 million active user count recorded in February and the network\u2019s highest monthly count since May 2022.<\/span><\/p>\n<figure id=\"attachment_380476\" aria-describedby=\"caption-attachment-380476\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-Active-Address-Count.png\"><img decoding=\"async\" class=\"wp-image-380476 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-Active-Address-Count.png\" alt=\"Solana Active Address Count\" width=\"2560\" height=\"789\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-Active-Address-Count.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-Active-Address-Count-300x92.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-Active-Address-Count-1024x315.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-Active-Address-Count-768x237.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-Active-Address-Count-1536x473.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-Active-Address-Count-2048x631.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-Active-Address-Count-1200x370.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-380476\" class=\"wp-caption-text\">Source: The Block<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">As the memecoin hype intensified, Solana onboarded a significant number of new users who desired to profit from the meme market rally. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Data from The Block showed that since the beginning of March, the number of unique first signers to transact on the Solana Network has totaled 25.43 million. This represents a 108% growth in new demand for the L1 within a 30-day period.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the on-chain data provider, March\u2019s figure marks an all-time high in the monthly count of new users.<\/span><\/p>\n<figure id=\"attachment_380475\" aria-describedby=\"caption-attachment-380475\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-New-User-Count.png\"><img decoding=\"async\" class=\"wp-image-380475 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-New-User-Count.png\" alt=\"Solana New User Count\" width=\"2560\" height=\"789\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-New-User-Count.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-New-User-Count-300x92.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-New-User-Count-1024x315.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-New-User-Count-768x237.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-New-User-Count-1536x473.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-New-User-Count-2048x631.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/Solana-New-User-Count-1200x370.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-380475\" class=\"wp-caption-text\">Source: The Block<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Due to the high user activity on the network, Solana&#8217;s transaction volume so far this month is above $143 trillion, up from $104 trillion in February.\u00a0<\/span><\/p>\n<h4><b>Solana\u2019s DeFi and NFT verticals<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">According to <\/span><a href=\"https:\/\/defillama.com\/chains\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">DefiLlama\u2019s<\/span><\/a><span style=\"font-weight: 400;\"> data, out of the top five networks ranked by DeFi TVL, the network has recorded the most growth in the last 30 days.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At $4.8 billion as of this writing, its TVL has spiked by 91% in the last month. Solana\u2019s TVL sits at its highest level since February 2022.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regarding the network\u2019s NFT ecosystem, it has seen a month-over-month growth in sales volume, data from <\/span><a href=\"https:\/\/www.cryptoslam.io\/blockchains\/solana\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CryptoSlam<\/span><\/a><span style=\"font-weight: 400;\"> showed.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read\u00a0<a href=\"http:\/\/ambcrypto.com\/predictions\/solana-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Solana\u2019s [SOL] Price Prediction<\/a>\u00a02024-2025<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">In the past 29 days, Solana\u2019s NFT sales volume has amounted to $234 million, marking an 8% increase from February\u2019s $216 million.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This has occurred despite more NFT transactions being executed in February. According to CryptoSlam, 4 million NFT transactions were completed in February, but only 2 million transactions have been completed so far this month.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>User activity on Solana has climbed to a two-year high after memecoins on the network went on a bull run.<\/p>\n","protected":false},"author":64,"featured_media":380479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,6376,20],"tags":[],"class_list":["post-380470","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-solana-news","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Solana&#039;s 2-year high: How WIF, PEPE and BOME played a part - 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