Solana’s worldwide Google search interest reaches historic levels, demonstrating growing attention for the blockchain platform. This rise in visibility coincides with a spike in Solana’s network activity, in the last 24 hours, Solana has recorded a trading volume of $3.032 billion, surpassing Ethereum’s $2.037 billion, with BSC and Arbitrum trailing at $1.433 billion and $640.79 million respectively.
This surge comes in the wake of a 45% price increase of SOL, Solana’s native token, over a span of just seven days, reaching over $200 for the first time since December 2021. The peak trading volume coincided with a remarkable rise in Solana’s network activity over the weekend, driven largely by SOL-based meme coins.
Key Drivers Behind Solana (SOL) Surge
Several factors have been pinpointed as the catalysts behind Solana’s impressive performance. Over the weekend preceding the surge, the network’s activity saw a considerable boost from SOL-based meme coins. One such token, the Solana-based BOOK OF MEME (BOME), skyrocketed by 322% in 24 hours, surpassing the $1 billion market cap and registering a trading volume of $4.73 billion in a single day.
Furthermore, Solana’s decentralized finance (DeFi) sector has experienced a surge, with the total value locked (TVL) climbing over 80% in the past month. This growth marks the highest TVL level Solana has seen in the last two years. Concurrently, as SOL’s price breached the $200 threshold, Google search interest for Solana hit the highest point in its five-year history, registering a peak value of 100 on Google Trends. The previous peak was at 84 in early September 2021.
Solana’s achievements are a clear indicator of its burgeoning popularity and the growing trust in its technology. As it surpasses Ethereum in network activity and sees an unprecedented rise in search interest, Solana is undoubtedly setting a new standard for blockchain innovation and investment potential. This trend not only captivates the attention of investors and enthusiasts alike but also paves the way for a future where Solana could play a central role in the evolution of decentralized finance and digital currencies.
