The number of active addresses on Solana reached a new high in October, exceeding 123 million

According to The Block, last month, the number of monthly active addresses on Solana hit a historic high, exceeding 123 million. Data shows that the number of unique addresses signing transactions on Solana increased by more than 42% compared to September. In January this year, the network had less than 12.7 million active addresses. Analysts say that the recent surge in activity on Solana is driven by the increasing popularity of memecoin trading on the network and has been supported by platforms such as memecoin generation application Pump.fun and decentralized exchange Raydium, both of which have experienced strong activity over the past month. Additionally, a16z's "Cryptocurrency Status" report in October showed that Solana's monthly active address exceeded 100 million while Ethereum and other EVM chains only had about 57 million indicating higher user engagement on Solana.