Analysis Today TheBitTimes.com

Solana (SOL) was one of the best-performing cryptocurrencies in 2023, surging by 920% in the year. Part of this was due to an increased network activity, bringing more value to the ecosystem and more demand for its native token. In particular, the Solana network has seen an increase of approximately 600,000 more active addresses in a month . Daily active addresses went from 382,700 on November 21 to a yearly high of 981,380 on December 21. Current address activity is still above a 1-year average, according to The Block ’s chart, with data from Hellomoon . Currently, 625,160 Solana addresses are actively used in a 7-day moving average. Number of active addresses on the Solana network (Daily, 7DMA). Source: The Block Solana increased active demand and price analysis for SOL The number of active addresses is one metric that evidences the increased activity for Solana’s network. However, it is not the only one. During 2023, Solana also saw a surge in its DeFi ecosystem, joining...

The crypto casino Rollbit has decided to wind down its degen exchange due to “uncertainty and low adoption” a little over a month after its launch on Aug. 17 with pilot tokens like RLB and UNIBOT. Degen exchange users cannot no longer buy assets on the platform, although token sales and withdrawals remain possible according to the team. The mononymous Razer, Rollbit’s co-founder, noted that futures trading will continue and the company sees volume in this market. Of course! This update will allow us to spend even more time working on Futures, where we see great adoption and volume. — Razer (@Razer_Rollbit) September 22, 2023 Rollbit also decommissioned its Rollbot platform primarily focused on the casino’s non-fungible token (NFT) offerings. However, the company’s NFT collections are unaffected by this move. It’s important to note that these are independent changes that we’re making to better position and safeguard our business. There’s no changes to our core product...

Norby said the “experiment” was part of a plan to onboard more people onto Solana, however the stores didn’t bring in as many users as they initially hoped. Solana Spaces will close down its two Solana (SOL)-themed, community-oriented retail stores in New York City and Miami at the end of the month, as the physical stores didn't onboard as many users as it initially anticipated. Solana Spaces tweeted the news on Feb. 21 sharing a note from its founder, Vibhu Norby, explaining the reasons behind the store shutdowns. The following is a note from our founder, @vibhu. Dear @solanaspaces community, We’ve made the difficult decision to sunset our stores in NYC and Miami by the end of February, and to pivot our Solana onboarding efforts into digital products like DRiP, our free NFT product with… https://t.co/kjNu9Ay4Gk — Solana Spaces (@solanaspaces) February 21, 2023 Norby — who founded Solana Spaces in early 2022 — explained the company reached an “inflection point” with the stores...