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Active user count on Solana network is growing

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Solana is one of the most popular Ethereum Killer blockchain project with tremendous potential. Since establishment, the network has continued to grow and yet is continuing to grow more. Recently, some data revealed that the daily new addresses has been growing to outpace its competitors. Moreover, the data also noted that the active wallet count on the network has been surged by more than 58% since the beginning of this year while ignoring all market uncertainties.

Solana knows how to tackle the bear market

Over the past several months, we have witnessed the entire cryptocurrency market being covered in blood. Many potential projects in the sphere have faced incredible losses. But Solana seems to be ignoring the bearish market sentiment and continuing to grow in terms of value and users. 

Throughout the bear market, the user base of Solana is continuously growing. To measure the growth and adoption of Solana network, we have combined the data from Glassnode, The Block, and CoinMarketCap to observe New Daily Addressed. According to the data, it is observed that new users peaked at more than 400k in May before a gentle turn to 240k users this week. Still, comparing with the data from December 2021, the count has surged by about 150k-170k new users each day.

Simultaneously, the daily active wallets count have also surged by more than 32 million. However, comparing the data of June and May it is observed that the active users count has declined a little, still it is higher than an average of 20 million users near the first quarter of this year.

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SOL is in a bullish mood

Besides the growth of users, we have also observed that the native cryptocurrency of Solana, SOL is also in a bullish mood. With rising wallet usage, the cryptocurrency has gained about 34% over the last week. Following the monthly chart as well, we can witness approximately 30% growth.

In comparison to SOL, the price of the coin designed by Satoshi Nakamoto has surged by only 14% over the same period.

On the other hand, CoinMarketCap also noted that active addresses on the BNB Chain remained flat over an equivalent period. On the Ether blockchain, the count showed a significant decline since the beginning of this year. 

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