In January, the Solana blockchain saw a surge in new addresses, hitting the highest count since May 2022. According to Hellomoon, around 10.13 million new Solana addresses were registered in January, marking a record compared to May 2022’s 11.72 million addresses. January 2024 now stands as the second-highest month in the blockchain’s history for new addresses.
The rise in registrations is linked to the success of meme coins built on Solana. Notably, the latest meme token, WEN, is currently being distributed to over a million users. However, almost half of them haven’t claimed their tokens yet.
The ongoing WEN airdrop also serves as a trial for Jupiter, Solana’s largest decentralized exchange aggregator. This precedes Wednesday’s planned airdrop of Jupiter’s native governance token, JUP. The first JUP airdrop is available to 955,000 eligible users who met the $1,000 swap volume requirement by the November 2023 snapshot.
Despite SOL’s price increasing by over 300% in the past year, its current market capitalization is $41.9 billion, and it’s trading at $96.92 per coin. This is a decrease of -62.57% from its all-time high of $260.06 on November 7, 2021.
Nevertheless, Solana continues to break records, with its daily trading volume surpassing $3 billion last week, as reported by Hellomoon. In December, SOL stood out among the tier-1 proof-of-stake chains during the altcoin rally, displaying notable price gains.
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