Share this article
Solana's New Daily Address Growth Outpaces Other Blockchains, SOL Jumps
Data shows that active wallets using the popular network have grown by over 58% since the start of this year.
Updated May 11, 2023, 5:24 p.m. Published Jul 20, 2022, 9:51 a.m.
Active wallets on the Solana network increased by 58% this year, outpacing some other blockchains despite a market-wide price decline.
Figures for “New Daily Addresses” on Solana consistently grew its user base throughout the bear market, research by CoinMarketCap citing data from Glassnode and The Block showed.
STORY CONTINUES BELOW
New Daily Addresses refer to first-time wallet users on any blockchain network, which can signal growth and adoption. On Solana, new users peaked at over 400,000 in May before gradually declining to 240,000 users this week. These figures are a jump from December 2021’s levels of 150,000 to 170,000 new users each day.
Daily active wallets have similarly climbed this year, with over 32 million active users in June and 37 million in May. This rose from an average of 20 million active users in the first four months of 2022.
However, data suggests the activity did not amount to inflows. Total value locked (TVL) on decentralized finance (DeFi) applications running on Solana dropped to $2.9 billion this week from May’s $6 billion figure. Solana TVL peaked at $14 billion in December 2021.
Solana’s native SOL tokens have grown amid rising wallet usage. The tokens added nearly 34% over the past week and are up 30% in the past month, despite market-wide declines and volatility. In comparison, the price of bitcoin has risen by 14% in the past month.
Meanwhile, CoinMarketCap noted that active addresses on BNB Chain remained flat over an equivalent period, while data on new users on Ethereum showed a decline since the start of this year. “BNBChain has seen its new daily active addresses fall just north of 17.9%. Ethereum is faring worse at 51.8% over the same period,” CoinMarketCap said.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Solana’s Drift Launches v3, With 10x Faster Trades
With v3, the team says that about 85% of market orders will fill in under half a second, and liquidity will deepen enough to bring slippage on larger trades down to around 0.02%.
What to know:
- Drift, one of the largest perpetuals trading platforms on Solana, has launched Drift v3, a major upgrade meant to make on-chain trading feel as fast and smooth as using a centralized exchange.
- The new version will deliver 10-times faster trade execution thanks to a rebuilt backend, marking the largest performance jump the project has made so far.
Top Stories
