Solana’s network growth has picked up since early September, with daily new addresses averaging about 1.71 million and network growth rising 124% from the previous period, according to a Techub report citing CryptoPotato. Over the same stretch, daily active addresses climbed 58% to roughly 4.27 million. Santiment said the rise in network activity has come alongside growth in stablecoin-holding addresses on Solana. Data cited in the report showed that more than 14 million addresses now hold stablecoins on the network, while total stablecoin supply has moved above $15 billion. Institutional demand, however, appears to have cooled in October. Although U.S. spot SOL ETFs logged more than $271 million in net inflows in September, the products have seen only one day of inflows since October began: $1.3 million on Oct. 2. Month to date, they have posted more than $22 million in net outflows.
Solana’s network growth has accelerated since early September, with daily new addresses averaging about 1.71 million and network growth jumping 124% from the previous period, according to Techub, which cited CryptoPotato. During the same period, daily active addresses rose 58% to about 4.27 million.
Santiment links activity growth with stablecoin adoption
Blockchain analytics firm Santiment said the increase in network activity has tracked growth in the number of addresses holding stablecoins on Solana.
Data cited in the report showed that more than 14 million addresses now hold stablecoins on the network, and total stablecoin supply has exceeded $15 billion.
Spot SOL ETF flows slowed in October
Institutional demand has eased, the report said. U.S. spot SOL ETFs recorded more than $271 million in net inflows in September, but since the start of October, the category has posted inflows on only one day, with $1.3 million on Oct. 2. Month to date, the funds have logged more than $22 million in net outflows.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
