According to data, Solana (SOL) reached an all-time high in the number of new cryptocurrency addresses in January.
The number of new addresses on the Solana blockchain rose to 11.81 million in January, an 18% increase compared to around 10 million in December. December's figure was the highest level in recent months at that time.
The previous record for unique new addresses transacting on the Solana network was set in May 2022, with 11.72 million. This means January's figure surpasses the previous all-time high.
This increase in new Solana addresses is likely due to a flurry of new users trading on local Decentralized Exchanges (DEXs) and memecoins. A key factor contributing to this increase could be the launch of its native token by Jupiter, the network's largest decentralized exchange aggregator, on the last day of the month.
Additionally, the 7-day average of daily active addresses has also seen a significant jump, increasing by more than 33 percent since the beginning of the year. However, this figure still remains below activity levels observed in May 2022.
*This is not investment advice.
