Solana’s DeFi activity could be good news for SOL’s price – Here’s why

The increase in Unique Active Wallets (UAWs) on Jupiter Exchange was significant, with the number reaching 307,100. This represents a remarkable 251% hike in the last 24 hours, as found by AMBCrypto. This surge in activity on the Solana blockchain can be attributed to the growing popularity of decentralized applications like Jupiter, Raydium, and Magic Eden. The rise in activity on these platforms, particularly in the memecoin market, has contributed to the demand for SOL and has the potential to impact its price.

According to DappRadar, recent trends in Unique Active Wallets (UAWs) on the Solana blockchain have shown a significant surge. This increase in activity was contributed by decentralized applications such as Jupiter, Raydium, and Magic Eden. The number of UAWs on aggregator Jupiter Exchange reached 307,100, marking a 251% increase. For Raydium, there was an uptick to 285,200, and NFT activity also picked up, while the same metric on Magic Eden hiked by up to 178%. This surge in UAWs indicates a growing user base and adoption of platform services on the Solana blockchain.