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User activity on Solana has climbed to a two-year high after memecoins on the network went on a bull run.The surge in Solana’s network activity since the beginning of March is attributable to the uptick in memecoin trading activity on the network.AMBCrypto found that in the past 29 days, the number of unique addresses that have signed transactions across the Solana network has totaled 34.21 million.
Data from The Block showed that since the beginning of March, the number of unique first signers to transact on the Solana Network has totaled 25.43 million. This represents a 108% growth in new demand for the L1 within a 30-day period. At $4.8 billion as of this writing, its TVL has spiked by 91% in the last month. Solana’s TVL sits at its highest level since February 2022.
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