The price of Solana is surging. And so is their user growth.
What’s happening:
- Solana has hit a new all time record for active monthly users on their Layer 1 blockchain
By the numbers:
- Last month, Solana had a total 123M individual active wallet addresses and saw more than 4M new wallet addresses be created
- This represents growth of approximately 1000% from where individual active wallet addresses were at the beginning of the year for Solana
Why it matters:
- Solana has been innovating at a rapid pace, recently launching new hardware devices as well as integrating PayPal’s (NASDAQ: PYPL) stablecoin onto the Solana blockchain for the first time ever
Going deeper:
- Publicly listed companies have also begun to accumulate Solana to hold directly as an asset, which has sparked a new paradigm for the future of Solana in the traditional public markets
- Solana also just recently integrated Coinbase’s (NASDAQ: COIN) new digital asset Coinbase Wrapped Bitcoin onto their blockchain, which comes after a billion dollars has flowed into Coinbase Wrapped Bitcoin on the Ethereum and Base blockchains alone
The intrigue:
- While spot Solana ETFs await an official approval in the United States of America, Brazilian regulators recently approved their second ever Solana ETF to be listed on the B3 stock exchange in Brazil
