Solana Surpasses Ethereum in May 2024 Active Addresses

Solana Surpasses Ethereum in May 2024 Active Addresses

Solana surpasses Ethereum in active addresses for May 2024. Solana is currently a major focus in the blockchain market and is also considered a major Ethereum competitor.

Solana surpasses Ethereum

After dropping to a low of $8 in December 2022, its price is approaching its all-time high of $260. This previous peak could potentially be exceeded once the next bull run begins. Solana has seen many positive developments, including a surge in network activity and strong developer retention rates.

Despite some fluctuations, the overall trend for Solana remains positive. While Bitcoin remains relatively stable, Solana’s ecosystem is flourishing, indicating that the much-anticipated ‘Solana Summer’ might be on the horizon.

Bullish Momentum towards Solana

There are high expectations for new all-time highs during this cycle, signaling ongoing growth and success for the ecosystem. Potential ETF approvals, a trending topic in the crypto world, could further boost Solana’s momentum.

In May 2024, Solana experienced a significant increase in new addresses on its blockchain. According to The Block, May saw the highest number of new addresses in the first five months of 2024, reaching 41.65 million.

This represents a notable increase from April’s 36.2 million addresses. In comparison, Ethereum had 15.38 million active addresses in May, underscoring Solana’s rapidly growing adoption and usage.

Solana Defi Sector

Solana’s DeFi sector also hit a new yearly high last month. The ecosystem’s growth is impressive, with a steady stream of positive news. Solana DeFi saw a 33% increase in total value locked, reaching approximately $1.28 billion.

Currently, Solana is consolidating but shows strong potential for recovery. Historical data indicates significant support around $165, and despite a slight dip, the long-term outlook remains optimistic. At the time of writing, Solana is trading at $173.


To conclude, Solana surpasses Ethereum in active addresses and its substantial growth in its DeFi sector highlights its potential to set new all-time highs. With strong developer retention, increasing network activity, and the possibility of ETF approvals, Solana is well-positioned for continued expansion and success in the blockchain market. As it consolidates around $173, the long-term outlook remains highly optimistic, signaling a promising future for the ecosystem.

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