Active Solana Addresses Decline Amid Meme Token Hype Fade
The number of active Solana addresses has dropped to a yearly low of 3.3 million. In January, the blockchain recorded a peak of about 9 million. The surge in growth was particularly evident at the end of 2024. During that period, the "people's cryptocurrency" network solidified its position as a key platform for launching and trading meme tokens. This was largely due to its high speed and low fees compared to Ethereum.