The number of active addresses on the Solana network has dropped to 3.3 million, marking a 12-month low and a sharp decline from the network’s peak of over 9 million active addresses in January.
Active addresses—measured as unique accounts signing transactions—saw a surge in late 2024 as Solana became a preferred chain for meme coin launches and trading, offering faster transactions and lower fees compared to Ethereum.
Throughout 2025, activity gradually decreased as enthusiasm around meme coins waned. However, platforms like pump.fun continue to generate over $1 million daily, maintaining roughly 90% market share among token launch platforms. This indicates that, while overall participation has decreased, concentrated activity persists in specific market segments.
The trajectory highlights how rapidly cryptocurrency market trends can shift and underscores the value of ecosystem diversification. Networks heavily tied to a single trend risk sharp declines once that trend loses momentum. Solana’s experience with meme-driven growth mirrors patterns seen in other blockchain networks, where temporary catalysts spike user activity followed by normalization.
Despite the drop in active addresses, Solana continues to expand its product ecosystem. New decentralized exchanges, prediction markets, and real-world asset protocols are under development, while total DeFi TVL reaches $10 billion, largely driven by protocols like Jupiter, Kamino, and Jito. Developer engagement suggests a concerted effort to build a more resilient foundation that goes beyond speculative trading.
