Solana: Outage FUD subsides, should you expect better performance in March?

ambcrypto.com:

The Solana [SOL] ecosystem saw a significant uptick in its daily active addresses, eclipsing other big chains like Ethereum [ETH] and Polygon [MATIC].

— Step Data Insights (@StepDataInsight) March 4, 2023

This behavior was supported by readings from Token Terminal. After nosediving on the back of a big outage on 26 February, the daily active users (DAUs) exploded 9x as of 3 March.

The growth in the number of users catapulted the network’s transaction fees to $51.1k from $2.3k.

Source: Token Terminal

Solana got a lot of bad press after its first major network outage in 2023 which lasted for nearly 20 hours. The platform faced a lot of flak on social media over its growing list of outages and FUD seemed to have gripped the community.

However, there were early signs that things could be changing for the better. One of the reasons behind the recent upswing in DAUs could be due to growth on the NFT front.

According to CryptoSlam, the NFT sales volume on the chain soared to $2.7 million at press time from the lows of $34.68k following the outage. The number of unique buyers and sellers also grew significantly.

Source: CryptoSlam

Apart from this, the hype associated with Helium Network’s migration to the network could have prompted investors to dump their FUD in favor of Solana.

The migration of the decentralized wireless communication network is expected to happen later this month on 27 March.

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Investors turned optimistic for SOL as the weighted sentiment for the coin improved, data from Santiment revealed. The recovery was impressive although it should be