The Solana network has emerged as the most popular blockchain ecosystem so far this year, according to CoinGecko Research. The layer 1 blockchain now accounts for 49.3% of global crypto investor interest in chain-specific narratives, the report, published Wednesday, said.
"Solana ecosystem’s dominant mindshare has been fueled by Solana’s continued rally back to 2021 highs, alongside the strong performance of key ecosystem project tokens such as Pyth and native memecoins such as dogwifhat," the report added.Solana’s price climbs on the back of surging trading volumes On Monday, Solana surged above $200 for the first time in two years, reaching its highest price level since 2021, driven by a surge in network trading volume. SOL's price is up more than 700% over the last 12 months. The price of SOL has rallied by over 7% in the past 24 hours to change hands for $187.30 at 11:16 a.m. ET, according to The Block's Price Page.
In the last week, Solana’s onchain volumes have soared, and the fees the network has collected have risen to new heights. According to The Block's Data Dashboard, daily transaction fees paid on Solana have been surging since the beginning of March. On Monday, the total amount of transaction fees paid on Solana hit an all-time high of $5.08 million.
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