Solana [SOL] Reclaims Its Throne: DAUs Explode 9x!

• Solana experienced a significant jump in daily active users (DAUs) after its network outage-induced FUD subsided, eclipsing other big chains like Ethereum and Polygon.
• The growth was supported by readings from Token Terminal, with transaction fees rising to $51.1k from $2.3k.
• Investors seemed optimistic for SOL as the weighted sentiment improved and development activity declined ahead of Helium Network’s migration to the platform later this month.

Solana Regains Momentum After Outage

Solana has been experiencing a steady growth in its daily active users (DAUs) since the FUD caused by its network outage subsided. Readings from Token Terminal showed that the transaction fees rose to $51.1k from $2.3k, indicating an increase in user activity on the platform.

NFT Sales Volume Soar

The NFT sales volume on Solana soared to $2.7 million at press time from the lows of $34.68k following the outage, as reported by CryptoSlam. Additionally, there was an increase in the number of unique buyers and sellers on the chain too which could be attributed to a surge in DAUs as well.

FUD Subsides Thanks To Migration Hype

The hype associated with Helium Network’s migration to Solana later this month could have prompted investors to dump their FUD in favor of Solana due to anticipation of higher returns post migration completion. This is evident from Santiment data which reveals an improvement in weighted sentiment for SOL while development activity remained sluggish over the week leading up to its migration date on 27 March 2023 .

SOL Trades Marginally Higher At Press Time

According to CoinMarketCap data, SOL traded at $21.24 with a marginal gain of 0