The Solana Network (SOL) has launched its real-time data portal to track carbon emissions via blockchain. Investor interest in Solana has increased significantly since this deployment. Faced with the concern to reduce the carbon footprint in the crypto industry, Solana’s initiative is welcomed. As proof, the crypto SOL is again showing gains after suffering significant declines for a long period.
Launch of a carbon emission tracker on the Solana network (SOL)
Solana (SOL) launched on April 21, a dashboard to track carbon emissions via blockchain. This system allows you to stay up to date on key network parameters. It can track, for example, the energy consumption, emissions and energy intensity of the network. Thanks to regular updates, it is possible to easily examine the network’s broadcasts from different angles.
Thus, this real-time monitoring makes it possible to understand the impact of the network. One of the most significant results of tracking is recorded between April 1, 2022 and March 31, 2023. During this period, Solana (SOL) emitted approximately 10,651 tonnes of carbon dioxide and consumed over 26,000 megawatt hours of electricity.
Is SOL price preparing for a rally?
There is no denying that this initiative has led to renewed interest in the network and the SOL token. The asset jumped nearly 4% in the past 24 hours. This is a real boost for Solana (SOL) which had suffered weekly losses of around 8.5%. This rally is due to the increase in buying pressure, having allowed its market capitalization to reach $8.6 billion. This corresponds to a significant increase of $312 million in just 24 hours.
If the current upside pressure holds, Solana (SOL) might breach the $25 resistance. The asset could attract more investors, which will further drive up its price. Additionally, the number of daily active addresses on the network soared to 266,940 as of April 22. This represents a growth of approximately 12% in one week.
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