Solana Record 50 Million Daily Transactions!

• Solana’s network processes over 50 million daily transactions, showcasing robust adoption and technological superiority
• DeFi protocols on Solana offer potential investment opportunities with higher yields than traditional platforms
• Institutional investors, including Nasdaq-listed companies, are accumulating SOL-based assets amid the rally

Solana (SOL) continues to be the focal point of institutional adoption as Coinbase settles pending transactions, potentially releasing millions in trapped assets. The blockchain network recorded heightened trading activity exceeding 50 million daily operations.

This unprecedented demand prompted Coinbase to take swift action to process backlogged Solana transactions. It also signals growing confidence in the network’s stability. Users can expect their funds to be accessible shortly, potentially triggering fresh market momentum as liquidity improves.

This spike in transactional activity was largely fueled by the launch of meme coins like the TRUMP token. Also, SOL DEX volume has surged over three times its prior weekly levels, according to DefiLlama.

Solana Record 50 Million Daily Transactions! 3

Jupiter, a decentralized exchange aggregator, is the center of this activity as the DEX prepares to open its latest airdrop claim.  Roughly 2 million wallet users will be eligible to claim a share of 700 million total JUP tokens, worth $630 million at current prices. 

But the DEX has cautioned users against network congestion and “gas can be expensive, indicating that eligible wallets will have three months to claim their tokens—so there’s no need to rush.

Institutions Flock to Solana as Phantom Soars

Phantom, Solana’s most preferred meme coin wallet, recently secured a $3 billion valuation in a new deal. According to the Jan 16 announcement, it aims to become “the world’s biggest consumer finance platform.” This translates to increased adoption of the Solana ecosystem.

Another crucial development is the surge of interest from major institutional players. Nano Labs, a Nasdaq-listed crypto mining chip designer, strategically purchased Solana-based tokens, demonstrating the network’s growing appeal among traditional tech firms. The move represents a broader trend of established firms diversifying their crypto portfolios with Solana-based assets.

As per reports, the average transaction price was nearly $24, including transaction fees. This acquisition was made to celebrate Donald Trump’s election as the 47th President of the United States and to express the company’s appreciation for his supportive stance towards the cryptocurrency industry.

Market analysts point to Solana’s ability to process transactions at a fraction of Ethereum’s cost while maintaining high speeds, which has attracted retail and institutional investors. Clearing Coinbase’s transaction backlog could catalyze another upward movement as traders regain access to their funds.