Solana has recently seen an increase in the amount of unique contracts launched on the network, according to Artemis figures. According to data collected, the growth is not limited to March and is the highest level for the entire year.
At the time of writing, 75 separate contracts were active. A few weeks ago, the total had risen to 98, illustrating the amount of deployments in March.
In the context of cryptocurrencies, the deployment of a smart contract onto the blockchain network is referred to as contract deployment. A “smart contract,” which is an automated program that runs on the blockchain, can be used to automate the execution of contracts between parties.
A unique contract deployment is a type of smart contract deployment that employs contract code that is meant to be unique and unreplicable. The implication is that on the blockchain network, only one contract instance can exist, and the contract code cannot be copied or used in any other way.
In the context of non-fungible tokens, unique contract deployments, for example, can be used to create one-of-a-kind digital items such as collectibles or artwork (NFTs).
Given the increased deployment of unique contracts on Solana, we may soon see the arrival of a new NFT collection on the network. It also demonstrates that, despite the recent interruption, developers maintained faith in the network.
In March, Solana’s development activities grew, mirroring the number of unique contracts. The measure appeared to be steadily regaining ground, although remaining lower than before the network disruption.
The development activity was over seventeen as of this writing, with occasional small variations.
What effect did this have on Solana (SOL)? Few investors are taking SOL stakes, according to a review of Binance financing rates.
Nonetheless, the overwhelming position displayed on the chart was a long position, indicating that investors were betting on a future price rise.
Additionally, Solana (SOL) had been in an uptrend on a daily period, according to the TradingView chart. SOL was selling at around $21.6 at presstime, up more than 2%. It had also entered a bull trend and managed to maintain it.
It is also worth noting that, despite the outage that sparked much debate, Solana has remained quite consistent this year.