Solana Surges: Six Times BNB Chain's Daily Active Addresses

Solana Network's Daily Active Addresses Surge, Outpacing BNB Chain

The Solana network has witnessed a remarkable surge in its daily active addresses, reaching six times the number of those on the BNB Chain, according to recent data. This significant growth highlights the increasing popularity and adoption of the Solana network in the cryptocurrency ecosystem.

Solana's rapid rise can be attributed to several factors, including its blazing transaction speeds, minimal costs, and developer-friendly tools. These features have propelled Solana to command nearly half of the decentralized exchange (DEX) market, driven largely by the explosive activity on Pump.fun, a memecoin launchpad that recently outperformed Ethereum's DEX volumes.

Dune Analytics data revealed that Solana briefly captured an astounding 89.7% DEX market share during the last week of December. Over the past five weeks, the network has consistently maintained over 50% market dominance. Pump.fun has been instrumental in Solana's rise, with volumes fluctuating week by week. Despite this variability, OKX suggested that Solana's dominance might be sustainable in the long term, given its superior performance in transaction fees, active wallet addresses, and platform usability.

A significant portion of Solana's recent trading volume came from memecoins associated with former U.S. President Donald Trump and his wife Melania. The tokens launched just before and after Trump's January 20 inauguration, respectively, reaching a combined market cap of over $20 billion at their peak. Jupiter, a Solana-native DEX platform, accounted for nearly 70% of Solana's trading activity. OKX praised the platform for its ability to optimize slippage, provide accurate real-time pricing, and mitigate platform risks—further cementing Solana's appeal as the "retail chain" of choice in DeFi markets.

However, OKX pointed out that Ethereum and its layer 2 solutions still dominate in terms of weekly trading volumes per address and average trade sizes, indicating continued whale activity on the Ethereum network. While Solana shines with retail users, Ethereum remains the leader in total value locked (TVL) and liquidity pool quality. Ethereum retains an 82% share of the tokenized real-world asset market, dwarfing Solana's 2.5% share, according to data from 21Sh