Solana sees record increase in wallet addresses

Solana is seeing wallet growth, with 11.198 million active addresses now holding at least 0.1 SOL as of March 27. The rapid increase signals booming interest in the blockchain ecosystem.

SOL's price movements mirrored this trend. The token climbed from $132 on March 18 to $142.97 by March 25 before settling at $138.44, aligning with the network's growing activity. This correlation likely reflects either new user adoption or increased investment flows during this period. However, analysts note these price movements may represent short-term speculation rather than fundamental growth, particularly given constant exchange outflows since June 2024.

SOL's price has declined alongside a 23.28% drop in trading volume. The blockchain's market cap currently sits at $64.18 billion, with 512.02 million tokens circulating out of a total supply of 597.23 million, BlockchainReporter says.