The crypto bear market that began in May has hurt Solana just as much as the rest of the market. CoinGecko reported a massive 16.4 percent increase, and the price of SOL is now at $32.27 at the time of writing. Messari’s most recent quarter on quarter performance evaluation of the Solana network provided illumination into the L1’s inner workings, thus it’s possible that this is the case. Despite a generally pessimistic market, the study highlighted very encouraging performance for the token in the third quarter. However, Q3 was a rough quarter for Solana, like it was for most cryptocurrencies, and this could have an impact on the data Messari reported. In general, Solana’s tenacity is demonstrated by the fact that it is still expanding its network and implementing its growth strategy. Related Reading: Why Bitcoin (BTC) Could Not Surpass Litecoin (LTC) In This Key Area Solana Network Activity Up Messari reports that there was an increase in network activity at SOL. The daily average number of transactions that do not involve a vote increased by nearly 70 percent from 20.544 million in the second quarter. Chart: Messari In addition, the number of transactions processed per second (TPS) increased by over 40.4% from Q2’s 2,310 TPS. It’s important to note, though, that transaction fees have been going down. For Solana, transaction fees have been falling steadily since the end of 2021, the researc...
