Jamie Coutts, chief crypto analyst at Real Vision, Ethereum 
$2,447He states that Solana (SOL), one of the leading competitors of (ETH), may be on the verge of a big rise. It has been observed that there have been triple-digit increases in the number of Solana wallets in the last three months. This increase is much higher than other smart contract platforms.
Growth in Active Wallets
Coutts states that the combination of Solana’s price correction and network metrics indicate that SOL is poised for a major move to the upside. The analyst said, “Solana: active addresses rose 276%, fees fell 11.3%. “The price looks like a spring ready to rise.” he stated.
Coutts also shared metrics of other smart contract platforms from the same period. Fees on Ethereum have hit a low point and are up 77%, while price momentum remains weak at 21.9%. While TON recorded a 208% increase in active addresses and a 103% increase in fees, the price increase was limited to 26.1%.
Payment Developments for Solana
Solana also stands out among payment giants for its global support of Stripe’s USDC payments. It is stated that this development is positive for layer-1 platforms such as Solana. Coutts said: “One of the world’s largest payments companies is re-entering the crypto market after a six-year break. Visa, Mastercard, PayPal and Stripe continue their investments in crypto.” he said.
“If all other use cases fail, stablecoins and their use for payments and decentralized finance will drive the value of layer-1 networks,” Jamie Coutts said. he said.
Solana is trading at $145.33 at press time and is up over 4% in the last 24 hours. Coutts emphasized that this increase in cryptocurrency movements is a strong signal for Solana’s future performance.
Finally, it is stated that advances in payment technologies and the support of major payment companies will support the growth of platforms such as Solana. However, it was emphasized that investors should be careful about how much blockchain infrastructures will be used in the future.
The significant increase in the number of active wallets on Solana shows that the usage and adoption of the network is increasing. This can be considered a positive sign for the platform’s ecosystem. Investors can evaluate Solana’s potential by tracking developments in network metrics.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
