There has been a significant increase in transaction volume on the Solana blockchain during the month of January, according to The Block's Data Dashboard.

The transaction volume of SOL and SPL tokens on the Solana blockchain has surged to $951.9 billion for the month of January, and there are still almost two days remaining in the month. The gains represent a 30% rise in economic throughput on the network from December's volume of $735.8 billion, which was a multi-month high at the time.

The rise in transaction activity on the blockchain is significantly above levels seen in 2023 and for most of 2022. For instance, in September 2023, Solana network transaction volume hit a low of $40 billion.

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