Skip to content

Solana smashes $20 barrier as active users surge; What’s next for SOL price?

Solana smashes $20 barrier as active users surge; What's next for SOL price?

With the majority of the cryptocurrency market opening the week on a more positive note, Solana (SOL) has been no exception after earlier reclaiming a crucial price resistance, and recent on-chain data demonstrates a massive spike in active Solana users.

Indeed, the number of unique active users on May 1 stood at 3.6 million, a staggering 146.58% increase from April 1, according to the Dune Analytics blockchain data shared in a tweet by Tom Dunleavy, an analyst at cryptocurrency monitoring platform Messari, on May 28.

Unique active Solana users. Source: Tom Dunleavy

With the recent results, the cumulative number of all unique active Solana users has climbed to 39.75 million, as per the chart created by the Dune Analytics member @cryptokoryo, last updated six days ago.

Solana price analysis

Meanwhile, Solana was at press time changing hands at the price of $20.73 after shattering the crucial resistance level at $20 on May 27. During the last 24 hours, the asset’s price has increased by 1.12%, as well as adding 4.44% over the past seven days, as it moved to reverse the 10.89% decline from the previous month.

Solana 7-day price chart. Source: Finbold

As such, the price of Solana is getting close to the average projections of $21.65 made by the community over at the crypto monitoring platform CoinMarketCap as shared by Finbold on May 16. Currently, these predictions are even more bullish and stand at $21.69.

It is also important to note that Solana has recently gotten on the artificial intelligence (AI) train by integrating the technology into its blockchain platform using a ChatGPT plugin developed by Solana Labs. In the future, the success of such developments could have the capability to propel the price of its cryptocurrency further.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.