Despite having a smaller user base compared to Tron, Solana (SOL) has managed to outperform Tron in various aspects. This article explores the reasons behind Solana’s success.
Solana’s User Engagement
Although Tron currently has more daily active addresses on its network compared to Solana, Solana surpasses Tron in terms of daily transactions by a significant margin.
One of the key factors contributing to Solana’s success is the popularity of Solana NFTs. Notable collections such as Solana Monkey Business and DeGods have experienced substantial growth in recent weeks. SolanaFloor’s data reveals a significant increase in the number of owners holding the Solana Monkey Business collection, along with a substantial rise in its floor price.
Tron, on the other hand, has not seen the same level of interest in its NFT collections.
The Impact of dApps
Solana’s thriving ecosystem of decentralized applications (dApps) has played a crucial role in attracting and retaining a loyal user base. Raydium, one of Solana’s prominent dApps, has witnessed a remarkable surge in the number of users on its protocol. Over the past month, the unique active addresses on Raydium increased by an impressive 163.5%, resulting in a corresponding growth in network transactions.
Additionally, stakers on the Solana network have shown optimism in the network’s future. According to Staking Reward’s data, the number of stakers has increased by 4.81% in the last month, reaching a total of 621,060 at the time of writing.
Solana’s ability to outperform Tron despite having fewer users can be attributed to factors such as high user engagement driven by popular NFT collections and a thriving ecosystem of dApps. These elements have contributed to Solana’s success and indicate its potential for continued growth in the future.