CandleFocus

Solana’s Active Addresses Hit 4-Year High: What’s Driving It?

Author: Content Editor
Solana, despite the struggling price of its native token SOL, has experienced a surge in activity on its blockchain, reaching a four-year high in daily active addresses. This puts Solana ahead of other major blockchain networks such as Tron, Avalanche, Aptos, and Polygon. The milestone was celebrated by Solana supporters, with one user claiming that Solana is the "endgame" and other networks are "scams." The increase in active addresses on Solana is attributed to the popularity of meme coin platforms SunPump and pump.fun. The SOL token's price has decreased by 1.66% in the past 24 hours, trading at $131.72, with a trading volume of $1.82 billion and a market capitalization of $61.62 billion. The future trend suggests lower prices in the short term, as sellers are in charge of the market.

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