Ethereum Killer Solana Passes Major Transaction Counting Milestone
Solana’s transaction volume reaches an important milestone as it now exceeds 100 billion
According to Solana Explorer, a portal that tracks Solana’s performance, the number of transactions on the network has crossed the 100 billion mark. The average number of transactions per second processed by a proof-of-history blockchain is currently 2.8.
Previously, Solana also surpassed Ethereum in daily trades in the second quarter. At that time, as reported by crypto analyst portal Nansen, the number of daily transactions on the Solana network reached almost 40 million, while the Ethereum network had 5 million less. It’s also worth noting that the number of transactions processed by Solana has grown significantly over the past quarter.
That said, Solana is still in beta testing mode. Given the growing number of transactions and the long absence of outages that have mocked the blockchain in the community, the chances of a move to the main network are definitely increasing.
The same view is expressed by Coinbase analysts, who: report that in a series of future updates Solana could completely fix spam and network outages issues. These updates may be enough to bring Solana from beta to mainnet.
Solana (SOL) price overview
The price of Solana’s native token and blockchain fuel, SOL, has gone through a series of ups and downs since early September, but has remained in the wide price range of $24.5 to $47 globally.
Source: Trading Display
Given the shaky position of the crypto market, taking a position in SOL does not seem rational at this point. At the same time, approaching the lower bound or securing above the upper bound presents a great opportunity to consider investing in SOL.