Solana's DApps Activity Increases 46% In A Week, SOL Prices Are Predicted To Rise

DApps Solana activity increased 46% in a week (Photo; Doc. Innosoft Group)

JAKARTA - In recent days, Solana's original crypto coin, SOL, experienced a price decline of 9% after reaching a peak of IDR 2.43 million on September 29. Despite this decline, Solana's network activity has actually experienced a significant spike, making many traders optimistic about the potential for further price increases. This surge has attracted not only the attention of traders, but also shows the strength and potential of Solana's network in the future.

In the past week, the volume of decentralized applications (DApps) on the Solana network jumped by 46%. This put Solana above the Ethereum and BNB Chain networks, which recorded only a volume increase of 12% and remained flat, respectively. This increase in activity looks evenly distributed across various DApps, with Marinade Finance rising 66%, Pump.fun surging 93%, and Solend recording a 143% spike in the last seven days. In addition, the number of active addresses interacting with Solana's smart contracts increased 13%, with the Jupiter exchange being the main contributor with more than 2.77 million unique addresses.

Advertising from Cointelegraph, this activity increase is supported by low transaction fees for Solana and fast processing time. The average transaction fee in Solana is only IDR 300, much lower than Ethereum (IDR 37,500) and BNB Chain (IDR 1,200). This advantage makes Solana an attractive choice for users who avoid more complicated and expensive layer-2 solutions.

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In addition, the launch of new projects on Solana networks, such as Gameshift, which leverages Google Cloud's architecture to develop Web3-based gaming APIs, also encourages positive sentiment. Gameshift allows traditional game developers to integrate non-fungible tokens (NFTs) and digital assets in the Solana ecosystem, which are expected to increase demand on this network.

Another project that is awaited is the launch of Solana-based smartphones,irit, at a price below IDR 7.5 million. This phone is expected to attract great interest from users, supported by more sophisticated airdrop tokens and DApps stores.

With strong fundamentals, analysts estimate that the price of SOL has the potential to reach IDR 2.7 million in the near future, especially if activity on the network continues to increase. Currently, the total value locked (TVL) in Solana has reached 36.1 million SOLs, or around IDR 82.8 trillion, surpassing BNB Chain which owns TVL of IDR 66.3 trillion.