Solana It is having a strong week with SOL up 25% over the past seven days, returning back above the $100 mark after falling below $80 last week. The recent revival comes amid increased network activity in the future Jupiter symbol airdrop on Wednesday.
According to data from Queen GekkoSolana stock is up about 2% on the day to the current price of about $103. While Solana's price is still a long way from its 2021 price peak of roughly $260, it has rebounded from its late 2022 lows when it fell near $8. It is up 333% compared to last year.
Solana is seeing much higher activity amid the price jump as more and more traders turn to the network due in part to lower fees and faster transactions than Ethereum. Trading volume on Solana Decentralized exchanges (or dicks) Topped that of Ethereum For the 24-hour window that ends Sunday evening, according to data from Davey's call.
Other data from Hello moon It shows that a range of on-chain metrics have risen in recent days, including daily active users with a SOL wallet balance. Solana also saw an all-time high daily level of new wallets used to sign transactions last Friday at nearly 750,000 in total.
The rise and rise in SOL network usage comes as the ecosystem prepares to launch JUP on January 31, the official token of the DEX Jupiter pool. The long-awaited token will be made available to nearly 1 million wallets to claim for free.
Jupiter tested its new token launchpad over the weekend with Debut from One, a meme coin that over 1 million eligible wallets can claim for free. In the end, more than 271 billion WEN tokens Unclaimed gold By the deadline on Monday morning, representing approximately 39% of the airdrop allocation and 27% of the total token supply.
WEN creators Burn unclaimed tokens, reducing overall supply, but traders quickly turned bearish on the meme coin since the initial hype. The token has lost 52% of its value since its all-time high on Monday morning, falling to the current price of $0.000086.
Edited by Ryan Ozawa.