Solana Price Breaks Multiple Onchain Records as Bulls Push It Above $104

Key Insights:

• Solana price moved above $104 as network activity reached 5 million daily active addresses.
• SOL crypto price gained 7.55% as trading volume climbed to $5.28 billion in 24 hours.
• Solana crypto tokenized commodity supply reached $49.8 million, while a trader bought $9.74 million in SOL.

Solana price moved above $104 as network activity reached new highs, with 5 million daily active addresses and tokenized commodity supply hitting $49.8 million. SOL also drew fresh buying from a trader who returned after two years, adding to the latest signs of stronger market activity now.

Solana Price Rises as Network Activity Hits 5 Million Daily Addresses

Solana price moved higher alongside a sharp increase in activity across the network. The network reported 5 million daily active addresses, marking another major record for the blockchain as more addresses interacted with the network.

The rise in daily active addresses came as SOL traded at $103.93, up 7.55% over the 24-hour period. The move pushed the SOL crypto price above the $104 level and positioned the token among the stronger assets in the market during the period covered by the data.

Solana also recorded $5.28 billion in 24-hour trading volume, representing a 46.73% increase. Its market capitalization stood at $60.7 billion, while the fully diluted valuation was about $65.77 billion.

The increase in network activity and trading volume provided two key points behind the latest move in the Solana price. While price gains can change quickly, the rise in onchain activity showed that the network was seeing substantial use at the same time SOL was moving higher.

Tokenized Commodity Supply Reaches $49.8 Million

Another record came from tokenized commodities on Solana. The total supply of tokenized commodities on the network reached $49.8 million, according to Solana Sensei.

Most of the new supply came from SLVR, which recently launched on Solana. The development added another source of activity to the network as assets linked to commodities gained a larger presence on the blockchain.

The growth in tokenized commodity supply is separate from the daily active address figure. However, both point to increased activity across different parts of the Solana ecosystem. This also gives the SOL crypto price another network development to watch as investors assess whether rising usage can support further market activity.

At the same time, Solana had a circulating supply of 584.06 million SOL, representing 93.5% of its total supply of 632.96 million. The network has no fixed maximum supply listed in the data.

Solana Price Gets Support from Fresh Whale Activity

Large trader activity also emerged as the SOL crypto price moved higher. Lookonchain reported that a trader who had remained inactive for two years bought 95,928 SOL, worth about $9.74 million based on the reported value.

The purchase stood out because the same trader had completed two SOL swing trades over the previous three years. Both trades involved buying at lower prices and selling at higher prices, producing a combined profit of $4.95 million.

The latest purchase does not confirm what the trader plans to do next, but it adds to the market activity surrounding SOL. The timing also came as the Solana price moved above $104 and trading volume increased sharply.

Solana price was trading at $103.93 at press time, up 7.55% in 24 hours. The combination of record daily active addresses, rising tokenized commodity supply, higher trading volume, and the reported $9.74 million purchase kept attention on the Solana price as market participants tracked the next move.

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