Solana's (SOL) Daily Active User Base Soars 50% in January, Here's Why

According to crypto analytics portal Token Terminal, the fig of regular progressive users of the Solana blockchain has grown by 56,000, oregon 55.9%, since the opening of 2023. Solana's existent regular idiosyncratic basal present stands astatine 160,000, a fig the blockchain has not seen since the FTX clang successful November.

The reasons for this Solana renaissance astatine the opening of the twelvemonth are some interior and outer successful origin.

The archetypal is the hype generated by Bonk Inu, BONK, which rapidly gained an assemblage and popularity connected societal networks. BONK has each of the attributes of the classical meme token of today's crypto market, being a benignant of Shiba Inu (SHIB), but connected Solana. So far, the fig of Bonk Inu token holders has present reached much than 100,000 addresses.

Festive hangover

The outer reasons see the affirmative momentum that has prevailed connected the crypto marketplace at the commencement of 2023. This is evidenced by akin spikes successful enactment connected the Ethereum and Polygon networks, present Solana's 2 biggest competitors.

There seems to person been a benignant of "exhalation" aft a twelvemonth of continuous diminution successful cryptocurrency prices and a corresponding alteration successful blockchains' activity. However, however agelong this festive hangover volition past aft a twelvemonth of an exhausting carnivore marketplace is intolerable to say.