- Project Sela, a CBDC venture, combines the agility of the private sector with central bank oversight.
- The introduction of “Access Enablers” has increased competition and increased security.
As the cryptocurrency market faces turbulence, Solana (SOL) has become a focal point of the cryptocurrency space with an unexpected rise. Recent alliances and strategic moves paint a distinct picture for SOL compared to its contemporaries.
Solana’s Active Users Decline
Cryptocurrency charts depict Solana’s encouraging trajectory, but the native network tells a different story. Lark Davis, founder of the Wealth Mastery cryptocurrency newsletter. shared Statistics from September 6 showed that Sol’s active addresses had fallen to their lowest point in two years.
Notable Collaborations Increase Solana’s Value
Challenging the status quo, SOL recorded a 3% gain immediately after announcing a significant collaboration. Visa’s decision to expand its USDC payments pilot with SolSolana has helped it overcome the cryptocurrency slump and strategic partnerships like Visa have seen its value soar even as active users decline. Take a look at the contrasting trends in SOL. Blockchain has certainly sparked interest. This partnership, combined with Shopify’s integration with Solana Pay for USDC payments, provided much-needed support to SOL even as its user base showed signs of shrinking. Analysts expect these adjustments to revitalize user activity on the Solana network.
Impressive market performance among cryptocurrency giants
On September 6, SOL jumped to second place on the list of top gainers for the day. It was the best-performing coin over the past 24 hours, even while Bitcoin and Ethereum were struggling. When the article was published, the price of SOL was $19.78, almost $20. The bullish wave pushing Solana suggests it could soon break $20.