{"id":5578,"date":"2023-03-07T06:38:47","date_gmt":"2023-03-07T06:38:47","guid":{"rendered":"https:\/\/www.bitcoincasinos.com\/?p=5578"},"modified":"2023-03-07T06:38:47","modified_gmt":"2023-03-07T06:38:47","slug":"solanas-mau-plunged-45-in-february-2023-to-stand-at-8-47-million","status":"publish","type":"post","link":"https:\/\/www.bitcoincasinos.com\/blog\/2023\/03\/07\/solanas-mau-plunged-45-in-february-2023-to-stand-at-8-47-million\/","title":{"rendered":"Solana\u2019s MAU Plunged 45% In February 2023 to Stand at 8.47 Million"},"content":{"rendered":"
<\/a><\/p>\n Monthly Active Users (MAU) is a crucial metric within the cryptocurrency sphere. It represents users\u2019 adoption and engagement with a project or network. As such, this number can provide a sturdy validation (or lack thereof) of the crypto project. Higher MAUs often correlate with greater user adoption signifying the community\u2019s confidence in the project.<\/span><\/p>\n Solana (SOL) has been one of the leading blockchain networks, and its MAU shifts are closely monitored. But according to <\/span>BitcoinCasinos.com<\/span><\/a>, Solana\u2019s MAU took a surprising dip in February this year. The site reports that <\/span>Solana\u2019s MAU nose-dived by 45%<\/span><\/a> in February to stand at 8.47M from a high of 15.24M in January.<\/span><\/p>\n Edith Reads, an investment expert from BitcoinCasino, recently shared her thoughts on Solana\u2019s declining MAU data in February. She attributes this decline to <\/span>fudding<\/span><\/a> within the SOL community following the <\/span>network\u2019s outages <\/span><\/a>in the month. She asserts,<\/span><\/p>\n \u201cYou can\u2019t delink Solana\u2019s declining MAUs in February from the FUD that arose from the outages that affected the network then. Those made many investors second-guess their SOL investments hence their pulling back.\u201d<\/span><\/p>\n Solana\u2019s network disruptions have been a huge cause for concern for users and investors. Many have called into question SOL\u2019s reliability and security following these interruptions. The network hasn\u2019t explained what triggered those service failures giving rise to speculations.<\/span><\/p>\n The network\u2019s recent downtimes had some people attributing the delays to flaws in its design. There were suggestions that Solana\u2019s on-chain voting and governance structure was causing a bottleneck in the system hence the disruptions. However, Solana\u2019s CEO Anatoly Yakovenko declared this idea \u201cpure ignorance.\u201d<\/span><\/p>\n Other commentators have suggested that multiple reasons could be behind SOL\u2019s chaos. Yakolenko\u2019s silence on what had caused the interruptions did little to illuminate the matter. Again, Solana Teams\u2019 admission that they couldn\u2019t adequately pinpoint <\/span>what caused the outages <\/span><\/a>only exacerbated this confusion.\u00a0<\/span><\/p>\n <\/a><\/p>\n In the face of controversy, Solana has proven to be resilient. It recently reached the 500K mark in daily active unique addresses (DAU). <\/span>According to one report<\/span><\/a>, that surge was nine times greater than what it had plunged to on February 26th, 2023. That uptick saw SOL\u2019s transaction fees grow by over 2000% to $51.1K.<\/span>One possible reason behind the surge has been a rebounding of <\/span>non-fungible tokens<\/span><\/a> (NFT) transactional volumes on the network. According to a <\/span>CryptoSlam report<\/span><\/a>, SOL\u2019s NFT sales have reached $2.8M from over 11,000 unique buyers at press time. That\u2019s a nearly 22% surge compared to February 26th, when NFT sales were only at $2.3M with 7,233 unique buyers.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Monthly Active Users (MAU) is a crucial metric within the cryptocurrency sphere. It represents users\u2019 adoption and engagement with a project or network. As such, this number can provide a sturdy validation (or lack thereof) of the crypto project. Higher MAUs often correlate with greater user adoption signifying the community\u2019s confidence in the project. Solana … <\/p>\n","protected":false},"author":64,"featured_media":5580,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\nWhat Was Behind Sol\u2019s Falling MAUs?<\/b><\/h2>\n
Varied Reactions to SOL\u2019s Downturn<\/b><\/h3>\n
Is Solana On the Rebound?<\/b><\/h2>\n