Solana achieved record 123 million monthly active addresses, a 42% increase.
Memecoins and platforms drive user engagement and trading volume growth.
Solana (SOL) is riding a wave of growth, achieving its highest-ever monthly active address count in October. The network recorded over 123 million active addresses, marking a 42% increase from September. This surge highlights a striking rise in user engagement, up from just 12.7 million active addresses in January.
Fueling this activity is a booming memecoin market on Solana, driven by platforms like Pump.fun, a memecoin creation app, and the decentralized exchange Raydium. Pump.fun raked in over $30.5 million in revenue last month, while Raydium reported $30 billion in trading volume.
Andreessen Horowitz’s State of Crypto report underscored Solana’s appeal, showing over 100 million monthly active addresses, far outpacing Ethereum’s 57 million. Justin D’Anethan of Keyrock emphasized Solana’s speed and low fees, whic
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