Solana has an uptick in new contracts, showing growing adoption and usage of the network.
Despite facing numerous network outages and seeing prominent NFTs migrate to other networks, Solana has demonstrated considerable resilience to attract a large number of users to the platform. his foundation.
According to the latest data from Artemis, new contracts deployed on Solana hit a year-to-date high.
This signifies significant growth and high activity in the Solana ecosystem, indicating increasing adoption and usage of the Solana blockchain.
Demonstrates an active and growing community of developers interested in building on the Solana network.
However, while the number of contracts deployed on Solana is growing, the DeFi sector has not seen the same growth. Artemis data highlights a notable drop in Solana’s Total Value Locked (TVL) over the past few days.
In addition, the volume of decentralized exchanges (DEXs) on Solana has also decreased significantly, indicating that interest in Solana DEXs is waning.
In the NFT sector, the volume of Solana NFTs traded has plummeted. Despite this decrease, the total floor value of Solana NFT has remained relatively stable, with no significant decrease recorded.
One potential factor contributing to the decline in SOL could be the SEC lawsuit against Binance . Furthermore, the recent delisting of SOL from the Bakkt exchange added to the negative sentiment.