The Solana network, utilizing the Proof-of-Stake (PoS) mechanism, has surpassed Bitcoin in terms of daily active users. According to Artemis data analysis, on January 26, Solana's user base exceeded one million for the first time in a month, while the number of daily active Bitcoin addresses fell to 597,000.

Solana also leads in the number of on-chain transactions, reaching 26.39 million transactions per day, significantly exceeding the performance of other networks, including Tron. This increase in activity is likely linked to the growing demand for services of decentralized exchanges (DEX) based on the Solana blockchain. For instance, Solana's DEX Jupiter surpassed Uniswap in 24-hour trading volume.

Over the past three months, Solana has shown high volumes on DEX, reaching a peak monthly volume of $28 billion in December and $18.8 billion in January. These achievements have started to reflect on the price of the SOL token, which has risen by 5.2% in the last 24 hours, bringing its weekly gain to 5%. However, since the beginning of 2024, SOL has fallen by 17%, following a fivefold price jump in the fourth quarter of 2023. Currently, market sentiments towards SOL have shifted from greed to neutral. The short-term and medium-term prospects of SOL depend on the demand from market buyers.