Solana broke the record for active addresses of the month with a 98% increase in value in December.

Solana (SOL) continues its upward trajectory in the final week of 2023, rising another 1% in the last 24 hours and trading at $115 USD this Christmas Monday.

A performance like this from Solana hasn’t been seen since April 2022, with the price rising 98% in December. This has contributed to attracting more investors to the growing ecosystem, with a particular boost from up-and-coming memecoins such as BONK and Dogwifhat (WIF).

December isn’t over yet, but Solana has already managed to break records for new and active addresses for the month, according to data from The Block Research.

The network recorded a 50% increase in the number of active addresses compared to November figures. In December, more than 15.6 million addresses were transacted on the network, breaking the previous record of 15.2 million active addresses in January of this year.

The previous record for new addresses created on the network was also surpassed, which was 6.6 million in May 2023. In December, Solana generated 6.8 million new addresses.

unprecedented overtaking

Another important milestone for Solana in December was that for the first time in history, registered trading volume on a decentralized exchange (DEX) surpassed Ethereum.

Solana’s DEX trading volume surged to $9 billion last week, according to data from Defi Llama. During the same period, Ethereum-based DEX recorded transactions of $8.8 billion.

Decentralized exchanges such as Ethereum’s Uniswap and Solana’s Orca facilitate peer-to-peer exchange of various types of cryptocurrencies, especially memecoin, which is not listed on a centralized exchange.

Historically, most of these transactions have always been focused on Ethereum. However, activity on Solana-based DEXes has recently increased significantly due to the network’s low gas fees and demand for BONK and Dogwifhat tokens, which has reignited interest in memecoins.

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