Solana's monthly active addresses exceed 100 million, a new high, and the SOL balance of most addresses is 0

BlockBeats news, October 9, according to Cointelegraph, according to Artemis Terminal data, Solana's monthly active addresses have soared to 100 million, a record high. This is a big leap compared to the 509,000 monthly active addresses recorded by Artemis in early 2024. However, indicators show that most active wallets on the Solana network do not hold any SOL tokens, and skeptics attribute this explosive growth to robots artificially exaggerating indicators. According to data from Solana data provider Hello Moon, in the past month, more than 86 million addresses held 0 SOL, about 15.5 million users held less than 1 SOL, and about 1.5 million users held less than 10 SOL.

Justin d'Anethan, head of business development for Asia Pacific at Keyrock, said: "Most Solana addresses have a lifetime value of less than $10, which shows that although the ecosystem is indeed very active and the token is performing very well, this is not natural." Dan Hughes, founder of Radix DLT, believes that interaction with CEX or decentralized financial applications (DeFi) may be a possible reason for the existence of a large number of active wallets with zero balances.