Thread by @esatoshiclub

⚡️Exciting news for the #Solana community!

1/ We're seeing a surge in daily active users and a growing interest in the platform's #DeFi and #NFT spaces. Will it last? 👀

🧵A thread by @esatoshiclub

2/ Despite the negative sentiment surrounding #Solana in recent months, the network has witnessed a significant increase in daily active users in recent weeks. Outperforming many other cryptocurrencies in terms of user engagement,

3/ #Solana's #DeFi and #NFT spaces are driving growth in daily active users and total value locked (TVL). In particular, the DeFi daily active users saw a spike over the last month, contributing to a rise in TVL from $206 million to $242.77 million

4/ #MagicEden, one of the largest dApps on the #Solana network, is seeing impressive growth! According to @DappRadar, volume on Magic Eden increased by 21.12% and the number of transactions spiked by 73.15% over the past month.

5/ The network's #NFTs are being bought, sold, and traded at an increasing rate. The total floor value of #Solana NFTs has seen a substantial increase over the past month and the volume of NFTs being traded has also gone up.

6/ Recent weeks have seen a significant spike in on-chain activity with volume growing from $206 million to $1.45 billion in just one month. Indicating increased market activity and liquidity on the network.

7/ Bulls are still going strong! Market indicators such as #MACD, #CMF and #EMA Ribbon are all in favor of buyers. One point of concern is the RSI entering overbought zone, but overall outlook is optimistic. Keep an eye on the 20-day and 55-day EMA for potential bullish crossover