Active Addresses for Solana (SOL) Reach a Two-Year Low

• Solana (SOL) experienced a significant upswing despite the overall market downturn.
• Visa is expanding its USDC settlement pilot to include Solana Blockchain.
• Solana Pay has partnered with Shopify to facilitate USDC transactions.

Solana , a leading global cryptocurrency by market capitalization, has experienced a notable upswing in the past 24 hours. This unforeseen growth from Solana has piqued the interest of the crypto community despite the overall market undergoing a steep downturn. Concurrently, the count of active addresses on the Solana network has recently hit a two-year nadir.

Lark Davis, the creator of the cryptocurrency newsletter Wealth Mastery, reported on September 6 that user numbers for Solana have plummeted to a two-year nadir. Despite this, Solana has recently announced that Visa is broadening its USDC settlement pilot to incorporate the Solana Blockchain. This news prompted a surge in SOL’s value, with a rise of over 3% recorded in the past 24 hours. Furthermore, Solana Pay has recently collaborated with e-commerce giant Shopify to facilitate USDC transactions through a plugin.

Despite the impressive price rally of SOL, there has been a significant decline in the number of active wallet addresses. Nonetheless, the recent update regarding Visa’s expansion is anticipated to rekindle user engagement with the Solana Network.

Solana climbs to the Top Gainer List

Furthermore, Solana’s recent surge has propelled it to the second spot on the top gainers list as of September 6. Impressively, SOL has outperformed all other cryptocurrencies in the top 100 in terms of gains over the past 24 hours. Major cryptocurrencies such as Bitcoin and Ethereum have recently been in a bearish trend. Solana’s significant uptick is anticipated to bolster investor sentiment in the crypto market.

As of the current update, Solana (SOL) is trading at a price of $19.82, marking a 2.84% increase in the past 24 hours. SOL’s daily trading volume has seen a significant uptick of 81.04%, as per data from CoinMarketCap. Furthermore, SOL is on the verge of reaching the $20 threshold. Given the prevailing bullish trend, Solana is anticipated to surpass the $20 mark shortly.