Number of Transactions on Solana Network Surpasses Ethereum’s

In spite of the fact that Ethereum ranks first in the blockchain ranking in terms of the number of deployed decentralized applications, according to a report from Nansen, the Solana network has bypassed ETH in terms of user activity.

The company researchers have found that in Q2 2022, the average daily number of transactions on the Solana blockchain was about 40 million, while Ethereum processed just more than 1 million transactions per day from April to June.

The surge in address transaction activity on Solana was reportedly the result of a spring flare-up of volatility in the crypto sphere and an increase in trading volume on decentralized platforms.