Solana continues to hold leading positions in user activity and transactions among Layer 1 networks, showing significant growth in institutional investments.
Solana's Leading Position in Daily Usage
Solana maintains the highest number of active addresses, with a daily range of 4 million to 7 million. This leading status has held since April, despite a dip in activity in late June down to around 4 million. Ethereum remains stable at around 3 million users, while the Base network recently surpassed this figure.
Institutional Flows and Increased Interest in Derivatives
Interest in trading Solana has increased alongside rising institutional engagement in the derivatives market. From April to late June, SOL CME futures volume showed uneven fluctuations, with sharp bursts followed by cooldowns. On June 22, volume surged past 1.7 million contracts, marking the highest level during this period.
CME Volume Surge Coincides With Price Drop Below $140
CME's SOL contract experienced a sharp rise in volume during a clear shift in market direction. The increase in volume observed while SOL fell below a key support level indicates high conviction trades entering the market despite price weakness.
Solana continues to occupy a central position in the cryptocurrency ecosystem thanks to high user activity and increasing institutional interest. The surge in derivative volumes and market activity highlight SOL's significance in the current strategies of institutional investors.
