Solana Sees Stellar Record of Monthly New And Active Addresses

Solana (SOL) is currently making waves in the market and has successfully outperformed a handful of its counterparts with a stellar record of new and active addresses on the network in the last few days. Data from The Block shows that Solana’s network has seen a 50% increase in the number of active addresses. 

Over $16M Active Solana Addresses 

As of December 25, the number of monthly active addresses on the Solana network was 16.25 million. For the month of November, the figure was only around 10.46 million, and in January 2023, it was 15.24 million. Compared to this same time last year when the number of active addresses was 11.76 million, the new number indicates growth.

Also, the Solana network had only 3.41 million new addresses by December 2022 but currently has about 7.23 million. Before now, its highest record for 2023 was seen in May, and at that time, it was only around 6.65 million. 

SOL Price Exceeds $100

Similarly, the SOL altcoin has seen a significant surge in its market value as it is now trading at $110.31. This is an outstanding performance, especially after the collapse of the FTX exchange which drove Solana’s price to below $10. The only metric that is yet to set a record is the non-voting transactions, which are still below their November numbers. 

However, the Solana network has been performing very well compared to other altcoins in the ecosystem. 

SOL Saga Gets Sold Out

On one hand, its Android phone Saga gained significant traction in the market owing to high demand for BONK memecoin. 

The price of the Decentralized Finance (DeFi) token native to Solana recently surged in value, leading to a frenzy amongst “degen” who wish to capitalize on the potential profits. As the demand for BONK intensified, so did the interest in Solana-compatible smartphones.

Eventually, the Solana Saga phone got sold out on the network’s official website. E-commerce marketplace eBay took advantage of the increased demand and listed the phone for as high as $5000, a far cry from its initial price on the Solana website. Precisely, a December 16 eBay listing showed two unopened in-box Solana Saga phones selling for $5,000 or “best offer.