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As of late August 2024, Solana has been making significant strides despite the broader market downturn. On August 28, Solana achieved a new yearly high of 2.3 million daily active users, surpassing its previous record of 2.2 million users set earlier in March. This surge in activity reflects the growing interest in the network, which has been bolstered by its high-speed capabilities and the popularity of meme coins built on Solana.
Additionally, Solana continues to lead in blockchain processing speeds, boasting the highest recorded transactions per second (TPS) among major blockchains, solidifying its position as a leader in blockchain performance.
However, the Solana ecosystem is also feeling the effects of the current market conditions, with its native token SOL struggling to maintain the $150 price level, and meme coins on the platform also experiencing value decline. 4 replies
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