Active wallets using Solana have grown by more than 58% since the beginning of this year
Active wallets on the Solana network have grown by 58% this year, surpassing some other blockchains, despite the decline in prices on the market.
The numbers for "New Daily Addresses" on Solana have been steadily increasing their user base throughout the bear market, a CoinMarketCap study citing data from Glassnode and The Blockshowed.
New daily addresses refer to novice wallet users in any blockchain network, which can signal growth and implementation. On Solana, new users peaked at over 400,000 in May before gradually dropping to 240,000 users this week. These figures represent a jump from the December 2021 level of 150,000 to 170,000 new users every day.
Daily active wallets have also grown this year: more than 32 million active users in June and 37 million in May. This has grown from an average of 20 million active users in the first four months of 2022.
However, the evidence suggests that the activity was not equivalent to an influx. Total Blocked Cost (TVL) In decentralized financial applications (DeFi) running on Solana, it fell to $2.9 billion this week compared to the May figure of $6 billion. Solana TVL peaked at $14 billion in December 2021.
Native Solana SOL tokens have grown amid the growing use of the wallet. Tokens have grown by almost 34% over the past week and increased by 30% last month, despite the decline and volatility of the entire market. For comparison, the price of bitcoin (BTC) increased by 14% last month. Meanwhile, CoinMarketCap noted that active addresses in the BNB Chain remained unchanged for an equivalent period, while data on new Ethereum users showed a decline since the beginning of this year.
https://coin-signal.com/cryptonews/active-wallets-using-solana-have-grown-by-more-than-58-since-the-beginning-of-this-year/
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