Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
- Solana experiences a 2x increase in unique users.
- Gateway applications are essential for onboarding Solana users.
Solana has experienced a remarkable increase in unique users, achieving a 2x growth within the last month. This notable expansion can be linked to the growing appeal of consumer-oriented gateway applications that have attracted newcomers to the Solana ecosystem.
Solana Weekly Users Chart April-May (Source: MESSARI)
Understanding the Surge
As per Ally Zach’s comprehensive research analysis, gateway applications are crucial for onboarding and engaging users within the Solana ecosystem. Solana’s gateway applications have seen a significant transformation across multiple sectors, including DeFi, gaming, NFT markets, and now extending into the consumer domain. Notable examples like Saydialect and AccessProtocol have emerged as key gateways, leveraging low costs and high throughput.
Related Posts
Additional factors also enhance user engagement within the ecosystem. The introduction of innovative features, such as programmable NFTs and NFT compression, has attracted considerable interest and activity on consumer applications in recent months.
While Solana currently trails behind its competitors in terms of long-term user retention, its short-term retention ranks just behind Arbitrum. The capacity of specialized applications within the ecosystem to maintain users over the long haul remains uncertain. Nevertheless, these applications are anticipated to be instrumental in fostering sustained long-term user engagement.
The evolution of the application landscape has been a significant milestone, with historical usage across sectors highlighting the platform’s adaptability. Moreover, the interrelations within the application ecosystem and protocol-specific trends have been crucial in influencing the growth trajectory.
According to CoinMarketCap, the current price of SOL is $21.12, with a 24-hour trading volume of $207,550,000.
Recommended For You
Solana (SOL) Price Prediction 2023
