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Solana Sees Significant Growth in Q2 2024 with Record Liquid Staking, Transaction Volumes, and 1650% Buying Volume Increase

Jul 12, 2024, 03:18 PM

The Solana blockchain network has seen significant growth and activity across various sectors. Solana's Liquid Staking reached an all-time high, increasing from $244 million to $3.73 billion, nearly 7% of the network's total market cap. The network is now handling over 47.1 million daily transactions, a 35% increase month-over-month, the highest since February 2022. Additionally, the total stablecoin market cap on Solana jumped 11% this week. Key metrics for Q2 2024 show an 89.5% increase in total economic value to $267.7 million, a 56.5% rise in average transaction fees to $0.0221, and a 46% increase in total value locked (TVL) to $991 million. Solana also saw a 1650% increase in global buying volume compared to 2023, the highest among major cryptocurrencies. New features such as Actions and Blinks have been introduced, enabling transactions in link previews. The number of ecosystem projects funded increased by 57%.