Ethereum

Solana

Raydium

Goatseus Maximus

Maximus

<ul class="wp-block-list">
 <li>Solana achieved record 123 million monthly active addresses, a 42% increase.</li>
 <li>Memecoins and platforms drive user engagement and trading volume growth.</li>
</ul>
Solana (SOL) is riding a wave of growth, achieving its highest-ever monthly active address count in October. The network recorded over 123 million active addresses, marking a 42% increase from September. This surge highlights a striking rise in user engagement, up from just 12.7 million active addresses in January.
Fueling this activity is a booming memecoin market on Solana, driven by platforms like Pump.fun, a memecoin creation app, and the decentralized exchange Raydium. Pump.fun raked in over $30.5 million in revenue last month, while Raydium reported $30 billion in trading volume.
Andreessen Horowitz’s State of Crypto report underscored Solana’s appeal, showing over 100 million monthly active addresses, far outpacing <a href="https://thenewscrypto.com/ethereum-price-drops-further-amid-surging-market-selloffs/" rel="noopener noreferrer nofollow">Ethereum</a>’s 57 million. Justin D’Anethan of Keyrock emphasized Solana’s speed and low fees, which are particularly attractive for high-frequency traders. He noted that Solana’s efficiency draws users who seek affordable transactions, a contrast to Ethereum’s often high fees.
Adding to the excitement is the rise of AI-themed memecoins like Goatseus Maximus (GOAT), which have captivated users and led to a flurry of new token launches.&nbsp;
<h3 class="wp-block-heading" id="h-sol-whales-and-price-moments">SOL Whales And Price Moments</h3>
Simultaneously, a Solana whale recently made headlines, selling $44 million worth of SOL on Binance and making colossal profits. On-chain data from <a href="https://x.com/lookonchain" rel="noopener noreferrer nofollow">Lookonchain</a> revealed the whale bought 500,862 SOL for $11.81 million between August and October. These holdings have now ballooned to $81.14 million. Despite the major selloff, the whale still holds over $45 million in SOL-related assets, sparking optimism for further <a href="https://thenewscrypto.com/can-solana-overcome-selling-pressure-to-regain-bullish-momentum/" rel="noopener noreferrer nofollow">price</a> gains.
Trading at $162, <a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">SOL</a> is up 12% this month, and analysts see potential for more, despite current levels still being well below its peak of $260.
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Solana Outpaces Ethereum with User Engagement and Volume

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