Solana registers all-time high in monthly new addresses for January

There was significant increase in the number of new addresses on the Solana blockchain during the month of January, according to The Block’s data dashboard .

The monthly count of new addresses on Solana SOL +3.32% increased to 11.81 million for January. This gain represents an 18% rise in new addresses on the network from December’s count of about 10 million — which was a multi-month high at the time.

The last all-time high of unique new addresses to transact on the Solana network was in May 2022, with a count of 11.72 million.

The spike in new Solana addresses comes amid a likely flurry of fresh users engaging on native DEXs and memecoins like Wen and Bonk. The release of its native token by Jupiter, the network’s largest decentralized exchange aggregator, on the last day of the month likely contributed to this increase.

The 7-day average daily active addresses have also jumped by more than one-third since the start of the year, though the figure remains below the activity seen in May 2022.

The native coin of the network — Solana (SOL) — saw a major price recovery from 2022 lows, reaching yearly highs of $120 by the end of December 2023. Since then, it has come down slightly.

In the past 24 hours, SOL has traded up by 6% and currently changing hands for $101.3, according to The Block’s price page .