Solana Seizes 9th Position in 24H Users Ranking Despite 3+% Price Decline

Analyst Adam Cochran’s Contrarian Views

On Twitter today, cryptocurrency analyst Adam Cochran voiced his disagreement with those who claim Solana has the highest number of users among all blockchains. His remarks sparked a debate on the platform.

DefiLlama Rankings Place Solana at 9th

In a recent report, DefiLlama ranked Solana in the 9th position when it comes to 24-hour user activity. This placement came amidst discussions about the blockchain’s popularity and utility.

SOL’s Price Drops Over 3%

Over the past day, the price of Solana’s native token, SOL, experienced a significant drop of more than 3%. As a result, it is currently trading at $22.71, leaving investors and enthusiasts concerned.

Twitter Debate: Solana vs. Other Blockchains

Today, a heated exchange took place on Twitter involving Solana (SOL). The discussion was initiated by Adam Cochran, a prominent professor and cryptocurrency investor, who reacted sarcastically to a post by “macbrennan,” a financial manager.

In the post, macbrennan claimed that Solana had “more users than any other blockchain.” However, Cochran refuted this claim and referred to data from DefiLlama. According to DefiLlama’s statistics, Solana ranks 10th in terms of Total Value Locked (TVL) and only 9th by the number of users over the past 24 hours.

Solana’s User Numbers Under Scrutiny

DefiLlama’s data revealed that Solana had a relatively modest count of 99,953 24-hour users. This pales in comparison to other prominent blockchains like Tron, which boasted over a million users during the same period.

SOL’s Performance Amidst Market Trends

Moreover, SOL’s 24-hour performance didn’t stand out significantly compared to other cryptocurrencies. Its price drop was in line with the general market trend, causing concern among investors and traders.

Leave a Reply

Your email address will not be published. Required fields are marked *