Here Are Three Bullish Metrics for Ethereum Rival Solana (SOL), According to InvestAnswers

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knife

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.

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Featured Image: Shutterstock/Rattanamanee Patpong/WhiteBarbie

The post Here Are Three Bullish Metrics for Ethereum Rival Solana (SOL), According to InvestAnswers appeared first on The Daily Hodl.

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