Solana (SOL) price hit a new all-time high (ATH) of $260 to rank as the fourth-largest cryptocurrency on the market, while the number of active users on its Phantom wallet exceeds 1 million per month.
Solana (SOL) is on the list of cryptocurrencies, most appreciated in the last week. According to data from CoinGecko, the native cryptocurrency of the blockchain scalability has grown by 30,2% in the last 7 days. With this revaluation, Solana reached a new all-time high (ATH) price of $260 per SOL, while its market capitalization surpassed $77.800 billion. Solana now ranks as the fourth most important cryptocurrency in the industry, surpassing Cardano (ADA) y Tether (USDT) on the market. However, at the time of this writing, the value of SOL has fallen by 5,5%, trading at around $247 per unit.
Source: CoinGecko
The price of SOL is being driven by the growing demand for this blockchain and the projects being developed on it. SOL projects are being driven by the growing demand for this blockchain and the projects being developed on it. NFT Solana-based blockchains are experiencing tremendous growth and demand. The latter has also increased the number of monthly active users on Solana’s Phantom wallet, which makes it easier for users to enter the digital ecosystem built on this network.
Phantom's official Twitter account reported that the wallet now has over 1 million monthly active users (MAU), marking a milestone in the crypto industry, especially considering that it has only been available on the market for a few months.
It may interest you: Solana rises more than 35% in the last 7 days and reaches a new all-time high
NFT sales volume on Solana
NFT sales on Solana have grown exponentially in recent months. By August of this year, the number of active NFT traders on Solana was around 14.000, while last October the number of traders grew by 400%, exceeding 59.200. Likewise, the volume traded through Solana NFTs grew from $140,8 million for August to $204,4 million for the month of October. Now, so far this month of November, the volume traded on Solana already exceeds $XNUMX million. 14 million, highlighting the great interest that exists in the protocols and projects of this blockchain.
Meanwhile, Solana NFT sales volume on secondary markets has surpassed $500 million over the past 3 months, according to Messari data published earlier this month.
Phantom's organic growth
To interact with Solana projects, users can connect via Phantom, the online and non-custodial wallet that facilitates the purchase-sale and storage operations of SOL, tokens and NFTs, as well as the exchange (swap) and staking within this blockchain. Phantom also allows you to explore the world of decentralized applications (DApps) built on the Solana blockchain and Web3.
The developers of this digital wallet highlighted on Twitter that the number of active users per month multiplied by 5 from August to October; while in the last month the number of users has increased by XNUMX. duplicatePhantom defines active users as anyone who manually opens the digital wallet to interact with a DApp on Solana.
Danger of scam in Google Ads
The rise of Solana and its Phantom digital wallet has also led to an increase in online scams. Check Point researchers reported that last weekend, scams and phishing attacks related to Phantom and Dappradar They claimed about $500.000 from their victims in just a couple of days.
People were scammed through Google Ads ads, which invited them to access the supposed official pages of these wallets from the top of the search engine. Unsuspecting users who have fallen for this type of scam enter their recovery phrases to reset a wallet or create a new wallet to deposit cryptocurrencies. However, in both cases, the wallets created or restored from these fake pages will be controlled by the scammers, who will have full control over the keys to extract the stored cryptocurrencies and tokens.
Check Point encourages the crypto community to stay alert and warns users to carefully check the web domains of the pages they access. For example, in the case of Phantom, the official website of the wallet is “phantom.app”, while the dishonest versions use subtle modifications such as “phanton.app” or “phantonn.app”, which are a complete scam.
Continue reading: Solana breaks after reaching its maximum TPS due to high demand and network usage
