• Solana leads with 100M active addresses, reflecting its growing influence in the crypto space, far ahead of NEAR and Base.
  • Developer interest in Solana surged to 11.2%, while Base and Ethereum also saw significant growth in blockchain-building activity.
  • Solana’s market strength is shown by rising transaction fees, NFT growth, and bullish price action, reaching $168.99.

Solana’s 100 million active addresses by 2024 have shown its ongoing dominance and growing prominence in both blockchain and cryptocurrency. With 31 million active addresses, NEAR is in second place, whereas Base only has 22 million.

The total active crypto addresses across all chains surpassed 220 million, revealing widespread blockchain adoption. Additionally, Ethereum Virtual Machine (EVM) chains account for 52 million addresses, while non-EVM chains lead with 174 million.

huh, so @a16zcrypto released a report that stated "the explosion of [crypto] activity is primarily due to @Solana , which accounted for about 100 million active addresses" then didn't mention them a single time in the rest of their report

incredible but predictable pic.twitter.com/uZui3B1NAn

— Mike Dudas (@mdudas) October 21, 2024

Developer Interest and Market Expansion

Solana’s developer interest increased from 5.1% to 11.2%, more than doubling in a single year. This shift signifies Solana’s rising appeal among builders. Moreover, Base experienced growth, with its developer interest surging from 7.8% to 10.7%. 

Ethereum continues to lead developer activity, holding 20.8% of the total. In contrast, Bitcoin’s interest saw a moderate rise, moving from 2.6% to 4.2%. These figures highlight a diversified ecosystem with expanding interest beyond traditional platforms.

Solana’s Strong Market Indicators

Besides its growth in active addresses, Solana’s transaction fees now exceed 10% of the market share, peaking at 25% in July 2024. Furthermore, Solana outpaces Ethereum in NFT addresses and ranks second in trading volume. 

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The ecosystem’s capital efficiency, coupled with low transaction fees, has fueled its expansion into decentralized finance (DeFi) and gaming sectors. Moreover, projects such as Helium and RenderNetwork are driving innovation on Solana’s network, offering real-world utility through decentralized infrastructure.

Significantly, Solana’s bullish price momentum reflects its expanding role in the blockchain. The price currently stands at $168.99 , showing resilience in the face of market volatility. With increasing trading volume and rising support levels, Solana’s market performance reinforces its growing dominance. Hence, Solana’s comprehensive development positions it as an important player in blockchain technology.

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