NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Cantor Fitzgerald Projects Major Growth For Hyperliquid (HYPE) In Explosive New Report
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Cantor Fitzgerald Projects Major Growth For Hyperliquid (HYPE) In Explosive New Report

Solana Nears 100 Billion Transaction Milestone As Price Aims For $40

Best Owie
Best Owie
Last Updated: September 9, 2022 5:00 pm
3 mins read
Solana

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Solana has made a name for itself in the decentralized finance (DeFi) and non-fungible token (NFT) space over the last few years. Its growth has seen it become one of the largest contenders for the leading smart contract network Ethereum, as it presents faster and cheaper transaction options. Its transaction count had quickly multiplied in light of this, and now, the cryptocurrency has neared another important milestone.

Almost 100 Billion Transactions

With only two years of operations under its belt, Solana has quickly grown in prominence among crypto investors. With an average of 3,000 transactions per second (TPS), the total transaction count on the Solana blockchain is like a runner on steroids.

Related Reading: Terra Classic Jumps Double-Digits, Is It Time To Buy?

Presently, the total transaction count on the network has surpassed 97.1 billion. This was the count as of Friday when this report was written. Given that the number was around 96 billion on Thursday, Solana’s transaction count is growing at around 1 billion per day. This rate would see the network hit the 100 billion mark before the weekend is over. 

To put this in perspective, the current daily transaction count on the Ethereum network is a little over 1 million at 13 TPS. The upgrade to ETH proof of stake will reportedly allow Ethereum to process 100,000 TPS, but for now, it continues to lag behind competitors such as Solana in terms of speed and capacity. 

Solana Looks To Grow Further

Over the last day, digital assets across the cryptocurrency market have seen some impressive gains. Solana grew more than 7% in this 24-hour period to bring its price above $35, but even this point does not look to be the highest for the cryptocurrency.

Since SOL is now sitting above its 20-day moving average, the selling pressure in the short term has begun to ease up, giving the digital asset room to establish support at $35 and target the $40 level from this point. 

Solana price chart from TradingView.com

SOL breaks above $35 | Source: SOLUSD on TradingView.com

Solana’s growth in other aspects besides its transaction count is also working to prop up its price. Most notably, the growth of NFT trading on the blockchain. Magic Eden, the leading NFT marketplace on Solana, is fast catching up to OpenSea. 

Related Reading: Bitcoin Detractor Peter Schiff Says It’s Time To Sell BTC, Here’s Why

In the last 7 days, OpenSea saw a total of 149,488 unique traders, where Magic Eden saw 101,349 unique traders. The popularity of collections, such as Okay Bears, DeGods, and now Yoots, has also helped to increase the popularity of the blockchain and bring new demand to the market. 

This demand for the digital asset for trading activities has been the biggest driver of its recovery. If the momentum holds up, then SOL is likely to test $40 before the weekend is over.

Featured image from CNBCTV18, chart from TradingView.com

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Tweet123Share196ShareSend
Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

Read more

Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world’s most quiet and well-behaved Husky. Best’s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well.

As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers.

Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best’s prolific career in the media industry is a testament of how hard work and dedication pays.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Solana

Solana Enters A Low-Interest Phase After November 2024 All-Time High — Here’s Why

The story of Solana has shifted from a meteoric rise to a high-stakes battle for relevance. After reaching a historic...

Godspower Owie 1 week ago
XRP

Why This Market Analyst Is Advising XRP Investors Not To Sell Their Coins

A growing part of the XRP community is paying closer attention to infrastructure changes taking shape on the XRP Ledger,...

Scott Matherson 1 week ago
solana price sol solusd

Solana (SOL) Under Pressure Despite ETF Inflows as Traders Watch $110 Support Zone

Solana (SOL) has entered the final stretch of 2025 under sustained pressure, caught between a weakening price structure and signs...

James Halver 1 week ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Solana

Solana Stalls At The Edge, But This Level Holds The Key As Momentum Dries Up

Godspower Owie 1 week ago
Solana

Why Has The Solana Price Been In A Steady Downtrend Since January?

Scott Matherson 1 week ago
Solana (SOL) At Risk of Fresh Bearish Wave

Solana (SOL) At Risk of Fresh Bearish Wave, Traders Turn Cautious

Aayush Jindal 1 week ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の価格見通し──DOGEは0.2ドルに到達するのか、それとも調整局面が続くのか

    ドージコイン...

    2 weeks ago
  • フランクリン・テンプルトンのスポットETFがXRPを1億枚超保有、機関投資家の動きはリップル 今後の価格を3ドル以上へ導くのか

    ...

    2 weeks ago
  • 専門家が注目する、2026年を前に検討したい仮想通貨 プレセール5選

    ...

    2 weeks ago
  • 仮想通貨 おすすめ銘柄として注目、新DeFiコインのプレセール資金調達が3,000万ドルに迫る

    仮想通貨...

    2 weeks ago
  • ChatGPT-5 dự đoán giá Bitcoin sau khi vàng và bạc lập đỉnh lịch sử

    ChatGPT-5 dự đoán giá Bitcoin sau khi vàng và bạc...

    2 weeks ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.