Solana SOL +6.13% network non-vote transactions have hit a yearly high, according to The Block's Data Dashboard.

The daily seven-day moving average of non-vote transactions on the Solana network has reached a high of 34 million. A non-vote transaction typically refers to a movement of SOL between different Solana accounts. This transaction milestone signals a significant rise in user activity on the layer 1 network. 

SOL, the native token of the Solana network, has rallied in the past 24 hours, despite the majority of blue-chip cryptocurrencies posting price pullbacks. The token increased by over 2% over the past 24 hours to $114.95 at 7:00 a.m. ET, according to The Block data.

Compared to Sol's 24-hour rally, other top ten cryptocurrencies have fallen, with bitcoin posting a 1% decline and ether dropping by 1.4% in the same period.

Sol, the native token of the Solana network, has rallied over 2% in the past 24 hours.

Solana's monthly new and active addresses

According to The Block's Data Dashboard, the Solana network has also set records for monthly new and active addresses, even though there are still six days left until the end of December.

The number of active addresses on the Solana network has increased by 65% compared to its November figures, reaching over 17.26 million. This surpasses its previous record of 15.2 million set in January of this year.

The recent increase in the price of SOL has caused the liquidation of over $24.25 million in leveraged positions. According to data from Coinglass, the majority of these liquidations have been shorts, with $14.07 million wiped out in the past 24 hours, compared to only $10.18 million in long positions.