Solana (SOL) Price Rises By 4.6%, Passes $20 Mark

Solana (SOL) price has increased by 4.6% in the past week, passing the $20 mark. Also, the number of unique online users has grown by 146.58% from April 1 to May 1.

Dune Analytics says that on May 1, there were 3.6 million individual daily users of SOL. A member of Dune Analytics noted that the number of unique active Solana users had hit 39.75 million, based on their calculations.

One user wanted to know why there were so many more of them. A Messari expert, Tom Dunleavy, was unsure if it was because of SOL’s NFTs (tokens that can’t be traded).

Driven by what?

— Caleb Franzen (@CalebFranzen) May 28, 2023

Contribution to Solana (SOL) Success

However, several factors could contribute to Solana (SOL) success. First, the crypto market is going up. In the last 24 hours, the total value of all cryptocurrencies on the market grew by 2.6%, hitting $1.21 trillion.

This may have something to do with the deal about the U.S. debt limit. Some investors may feel good about putting their money in risky assets like cryptocurrency.

According to the Twitter user “MartyParty,” $1.25 billion worth of SOL was bought on Huobi today. MartyParty said it might be because Chinese people can buy cryptocurrency starting June 1. Many people think that this could be the start of another bull run.