Solana network’s number of new addresses in December updated the record at 6,8 million

The number of active addresses also peaked at 15,6 million

25.12.2023 - 09:09

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What’s new? The number of active addresses on the Solana network has increased by 50% over the month and reached a maximum of 15,6 million. The previous record of 15,2 million was set in January this year. In addition, since the beginning of December, the number of new addresses also reached a new record of 6,8 million, the previous record was set in May (6,6 million). The rate of the native token SOL has grown by 1034% since the beginning of the year, since December 20, the asset has risen from sixth to fourth place in the overall ranking of cryptocurrencies by market capitalization, surpassing XRP and BNB.

The Block’s data

What else is known? On December 25, the SOL exchange rate on the Binance crypto exchange momentarily was up to $118,1, the highest since April 8 last year. Interest in Solana on Google has grown 250% since October, and on December 16, the ecosystem’s decentralized exchanges surpassed Ethereum-based projects in daily trading volume with $1,5 billion. At the time of writing, Solana is in fifth place by total value locked (TVL) in DeFi protocols at $1,4 billion.

In addition, the leading Solana wallet Phantom on December 20 added support for bitcoin NFTs, which are now experiencing explosive growth in popularity. On December 22, the New York financial regulator, NYDFS, authorized fintech company Paxos to issue Solana-based stablecoins, with the first such product coming in mid-January. Paxos is also the issuer of payment company PayPal’s (PYUSD) stablecoin.

Binance analysts noted Solana’s outpacing growth compared to other Layer 1 (L1) networks due to the increased activity of project developers within the ecosystem, who conducted a series of airdrops among their communities. The VanEck fund believes SOL will reach third place in terms of capitalization in the coming year. It currently exceeds $48,2 billion.

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