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Solana sets records for monthly new and active addresses amid price rally

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Solana sets records for monthly new and active addresses amid price rally
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All eyes have been on Solana SOL +10.65% in recent days, as the coin’s rapid rise in price generates waves of hype in its wake. Saga phones, loaded up with BONK airdrops, are still selling for thousands on eBay as traders celebrate the coin passing $100 just over a year after the FTX collapse helped drive its price below $10. 

According to data from The Block, Solana’s network has also already set records for monthly new and active addresses, despite the week still remaining in the month. 

The number of active Solana network addresses has increased about 50% over its November numbers to hit over 15.6 million, an increase over its former record of 15.2 million in January of this year. 

The number of new addresses has also set a record of 6.8 million in December so far, compared to the former record of 6.6 million in May 2023. 

One metric that hasn’t yet set a record: non-voting transactions, which are still below their November numbers. On the Solana network, the same transactions that send money or trigger smart contracts are also used to validate the network, making non-voting transactions an important metric for real user activity. 

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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