Wed, October 4

Solana Witnesses Unprecedented Surge in User Base

Solana Witnesses Unprecedented Surge in User Base Altcoin News
  • Solana witnesses a 2x surge in unique users.
  • Gateway apps play a crucial role in onboarding Solana users.

Solana has witnessed an astounding surge in unique users, experiencing a 2x increase in just the past month. This significant growth can be attributed to the rising popularity of consumer-focused gateway apps that have captivated newcomers to the Solana ecosystem.

Solana Weekly Signers Chart April-May (Source : MESSARI)
Solana Weekly Users Chart April-May (Source: MESSARI)

Decoding the Surge

According to Ally Zach‘s in-depth research analysis, gateway apps play a vital role in onboarding and engaging individuals within the Solana ecosystem. Solana’s gateway apps have undergone a notable shift across various sectors, including DeFi, gaming, NFT markets, and now into the consumer sector. Noteworthy examples such as Saydialect and AccessProtocol have emerged as prominent gateways, harnessing low-cost and high-throughput.

Several other factors contribute to the engagement of users within the ecosystem. The introduction of novel functionalities, such as programmable NFTs and NFT compression, has garnered significant interest and activity on consumer apps in recent months.

While Solana currently lags behind competitors regarding long-term user retention, its short-term retention is second only to Arbitrum. The ability of specialized apps within the ecosystem to retain users remains uncertain in the long run. However, these apps are expected to play a pivotal role in sustaining long-term user engagement.

The transformation of the application landscape has been a significant development, with historical usage across sectors showcasing the platform’s versatility. Furthermore, the interconnections within the application ecosystem and protocol-specific trends have played a pivotal role in shaping growth trajectory.

According to CoinMarketCap, the price of SOL today is $21.12 with a 24-hour trading volume of $207,550,000.

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