Solana activity hits record highs on multiple metrics, but data reveals its performance could be inorganic.
The Solana (SOL) blockchain recently saw its onchain transfer volume hit record highs, but market intelligence firm Glassnode claims that most of this activity is conducted by bots.
In a Nov. 19 post on X, Glassnode noted that Solana’s transfer volume hit an all-time high of $318 billion on Nov. 16.
This is almost three times SOL’s total market capitalization, which is currently at $112.5 billion. The number of total active addresses on Solana had spiked to 22 million.
