Solana is once again in the headlines, this time for having a major surge in development activity, keeping it ahead of its competition with Arbitrum and Avalanche.
Related Reading
According to Santiment, the development activity regarding Solana has increased by 10.7% just within the last week, and the signal is clear that developers and projects alike are interested in this space.
🧑💻 Looking at full crypto ecosystem development activity provides nice long-term roadmaps as to which are innovating and gaining on the ultra-competitive competition that this sector provides.
As of the first week of October, Solana’s has continued to emerge with a +10.7% rise… pic.twitter.com/Y5hOxJpHJl
— Santiment (@santimentfeed) October 7, 2024
Meanwhile, based on the recent Solana price estimate by CoinCodex, the cryptocurrency might experience a potential increase of 14% by November 9, 2024, and hit the $159 level. Despite the fact that this is a bullish view, the technical numbers suggest that the market is now experiencing a negative vibe. Investors are experiencing a level of worry that is 39 on the Fear and Greed Index.
Although both Arbitrum and Avalanche showcased some positive growth, as well—both 5.2% growth—Solana’s is more significant, which would easily place it ahead of its peers in terms of developers’ involvement and any further growth of the platform anytime soon. Solana’s growing network activity spells that this is now the preferred destination for new blockchain ideas and decentralized applications programs (dApps).
Solana: Surge In Development Activity
More developers are choosing to build dApps, test new features, and deploy the overall functionality of the blockchain on Solana. Now, that’s not only interest but investment in the long-term potential of the platform.
Even without the introduction of new projects in this space, Solana’s ecosystem is already a stand-out through its scalability and speed. New projects on these lines could bring even more promising advancements.
Whether it is transaction speeds or the development of DeFi tools, growth in activity usually presents large-scale improvements that are soon going to hit the blockchain platforms.
Competition With Arbitrum And Avalanche
Things are getting close to the…
Click Here to Read the Full Original Article at NewsBTC…
