🚀Solana (SOL) price increased by 20% between September 28 and October 6. Is this rally in line with the rise in Bitcoin (BTC) price or is it driven by other factors? 🤔

🔥SOL faces turbulent times after a US court approved a $1.3 billion sale from bankrupt exchange FTX. However, Solana’s gains are also supported by growing usage of decentralized applications (Dapps) and increased trading volume of non-fungible tokens (NFTs). 🚀

🎉Solana’s DApp and NFT market activity surged, with active addresses exceeding Ethereum’s active addresses during the same period, with a cap of 55,230. Solana is gaining traction in the NFT market due to its cost-effective and scalable solution. 🌟

🔧A potential driver of Solana’s recent 20% price increase is the network’s upgrade to version 1.16 on September 28, which introduced a “gate system” to ensure the gradual activation of new features on the network. This process helps maintain network stability and prevent problems caused by sudden changes. 🛠️

🏆Although Solana competes with other blockchain networks, there is no doubt that the Ethereum layer 2 solution is gaining more traction in terms of total value locked (TVL) and activity. 💪

🎯Ultimately, investors remain primarily focused on the Ethereum ecosystem as it remains the leader in developers and integration of decentralized applications. 🥇

What do you think of Solana’s future? Welcome to chat in the comment area! 😄