solana The price attracted attention by showing 25% in the last week. Although SOL fell below $80 last week, it has strengthened by regaining the $100 levels. One of the main reasons for this rise is the strong increase in network activity ahead of the Jupiter token airdrop.
According to data from Coingecko, Solana increased by approximately 2% on the day to its current price of $103. While still far from the 2021 peak price of around $260, the price managed to recover from the $8 low in late 2022.
The Solana network promises faster transactions as well as lower fees compared to its rival, the Ethereum network. This is the most important detail that increases the interest of investors. According to DeFi Llama data, transaction volume on SOL decentralized exchanges surpassed Ethereum some time ago.
Daily active addresses with SOL wallet balances have also been registering a strong increase in recent days. The number of new wallets used to sign transactions on the network broke a record by exceeding 750,000 on Friday.
As Solana Price Rising, Ecosystem Strengthens
Increased network usage along with SOL price rise Jupiter token airdrop attracts attention before the event. The official launch of JUP is expected to take place today. Within the scope of Airdrop, 1 million tokens will be distributed free of charge.
As Koinfinans.com reported, activity had already begun with the launch of the popular meme coin WEN on the network. WEN, which carried out a similar airdrop event, announced that more than 271 billion of its tokens were unclaimed. These tokens were completely removed from circulation and burned.