Solana, the world’s sixth-largest cryptocurrency by market cap, ended 2024 on a high note, delivering a strong 105% year-over-year return and ranking as one of the best performers in the top 20 group. Solana’s network activity also skyrocketed, with the number of active addresses jumping nearly sixfold and hitting an all-time high of 176 million in November. Although that figure has dropped by almost 30% since then, Solana’s year-over-year growth remains quite impressive.
According to data presented by CryptoPresales.com, Solana counted a massive 125 million active addresses in June, or 345% more than in the same month last year.
Solana Powers Nearly 60% of All Blockchain Transactions, 3x More Than BNB and 12x More Than TRON
Solana has been on a dramatic journey over the past few years, starting from less than a dollar in 2020, soaring to over $200 amid the 2021 crypto bull market, and then plunging by more than 95% in the crypto winter. However, the surging interest in blockchain technology and improvements in Solana’s ecosystem pushed it back into the spotlight of the crypto space, helping it finish 2023 with an impressive 377% gain, followed by another 105% increase in 2024.
Moreover, thanks to its low fees and fast transaction speeds, Solana has become one of the top platforms for different DeFi applications, NFTs, meme coins, and decentralized exchanges (DEXs), fueling a surge in network activity. The Glassnode data shows just how big that growth was.
Last June, Solana’s network had 28.2 million active addresses, nearly triple the count from the same month a year before. By September, this figure skyrocketed by 265% and hit over 100 million for the first time. But the real surge came in the months after, with Solana adding roughly 75 million new addresses and reaching an all-time high of 176.8 million by November. Although this number slipped to 165.5 million in January and then dropped to 100.5 million in March, Solana quickly recovered, climbing by 25% to 125 million in June.
Moreover, according to Dune Analytics, Solana powered around 60% of all blockchain transactions that month. In June, global on-chain transactions hit a staggering 1.35 billion, the highest monthly count ever recorded, and Solana alone handled around 839 million transactions. To put that into perspective, that is three times more than the second-ranked BNB Chain, which logged 165 million transactions and held an 18% share, and twelve times more than Tron, which saw 66 million transactions with a 4.6% share.
Solana Processes 28x More Transactions Than Ethereum and 84x More Than Bitcoin
The volume of Solana’s blockchain transactions is even more striking when compared to market veterans, Ethereum and Bitcoin. Statistics show Ethereum handled around 30 million transactions in June, or 28 times less than Solana, and Bitcoin just under 11 million, or 84 times less than Solana.
With Solana driving the next wave of growth, it’s clear that blockchain is experiencing a rising demand for faster and more affordable blockchains, making the technology more practical and accessible for investors, businesses, and everyday users.
