A popular crypto analyst says there are three metrics that are looking bullish for Ethereum (ETH) competitor Solana (SOL) right now.
In a new YouTube video, the anonymous host of InvestAnswers tells his 443,000 YouTube subscribers that Solana registered 446,000 daily active users in early April, a spike in activity that placed the project above all other smart contract platforms.
The analyst also notes that Solana has seen its seven-day moving average of non-vote transactions spike to nearly 30 million, a level it hasn’t neared since last August.
Additionally, the InvestAnswers host says Solana has the second-highest number of commits since the inception of any smart contract platform, after only Ethereum, which has the most by far.
Explains the analyst,
“What are commits? … When a developer does a commit in software development, it is the change made to code repository by a developer typically tracked to a version control system like GitHub or Git, and [the number of commits] helps analyze work volume, team performance, identify trends, it also helps understand where the project is going, how much resource allocation there is to the project in development, and it is an essential metric for tracking progress and quality of a chain and of course any software development.”
SOL is trading at $20.79 at time of writing. The 11th-ranked crypto asset by market cap is down more than 2% in the past 24 hours.
I
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Rattanamanee Patpong/WhiteBarbie
Credit: Source link
