Solana Registers a Record Number of New Addresses:
Solana has achieved a new record with nearly 12 million new addresses in January.
This figure represents an 18% increase compared to the previous month.
The release of the native token of Jupiter, the largest decentralized exchange aggregator on the network, contributed to this increase.
Another Monthly Record of New Addresses for Solana
In January, the Solana network experienced an unprecedented growth, with a total of new addresses reaching nearly 12 million, setting a new monthly record.
This increase marks a significant rise of 18% compared to the number of new addresses registered in December, which was already at a high level over several months, reflecting an expanding adoption of the Solana blockchain, demonstrating its growing prominence within the cryptocurrency ecosystem.
On the other hand, SOL has seen a significant price recovery since the lows of 2022, reaching annual highs of $120 in late December 2023 before experiencing a slight decline in January.
Growth Partly Attributed to the Launch of JUP by Jupiter
The increase in new addresses on Solana in January can be attributed to several factors, including increased user interest in memecoins such as BONK or more recently the free distribution (airdrop) of WEN to many users. It is also worth noting the launch of JUP by the Jupiter swap aggregator, which has simply skyrocketed daily volumes on the Solana blockchain, as shown in the graph below:
As you may have understood, the listing of JUP has evidently attracted a new wave of users to the platform.
Meanwhile, the average daily active address over a seven-day period has also seen a more than one-third jump since the beginning of the year, indicating increased activity on the network, although the numbers remain below the activity observed in May 2022.
