- In January, Solana recorded a surge in new demand.
- This pushed the chain’s network activity to an all-time high.
Leading Layer 1 network Solana (SOL) saw an increase in the number of new users, pushing the number of unique addresses created on the network to a record high in January, according to data from The Block. dashboard.
According to the data provider, the total number of new addresses created on Solana over a 31-day period was 11.81 million. This is an 18% increase over the 10 million new addresses the network recorded in December.
AMBCrypto found that January’s numbers marked the network’s highest since May 2022, when the month ended with 11.72 million new addresses.
Source: The Block
AMBCrypto reported earlier The recent surge in network activity on Solana was due to anticipation of the Jupiter airdrop.
Described as the largest airdrop on the Solana network, the airdrop successfully distributed 622 million JUP tokens (worth $3.6 billion) to over 440,000 addresses on the Jupiter Exchange on January 31st.
On the day of the airdrop, the number of daily active addresses on the Solana network reached an all-time high.
Will it affect other fields as well?
Although demand for the Solana network increased in January, the non-fungible token (NFT) sector did not benefit from this. According to data from CryptoSlamSolana recorded a decline in NFT sales.
According to information from the data provider, Solana’s NFT sales during the period under review were $239 million, a whopping 35% decrease compared to December sales of $365 million.
The difference in Solana’s monthly sales volume was due to the difference in total NFT transactions completed over the two months.
According to CryptoSlam, 6.5 million NFT sales transactions were completed on Solana last December. By the end of January, this figure had fallen by 31%.
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On the other hand, Solana’s decentralized finance (DeFi) segment recorded modest growth in January. Data from DefiLlama shows the network’s total value locked (TVL) increased 11% in January.
For context, the network’s TVL on New Year’s Day was $1.41 billion. As of January 31, it had increased to $1.6 billion.