Solana active addresses hit 12-month low, down nearly 3x since January
On‑chain metrics show Solana’s daily active addresses have dropped to around 3.3 million, marking the lowest level in 12 months and a steep fall from January’s record of more than 9 million. The roughly threefold decrease highlights a significant pullback in user transactions and engagement after a period of heightened activity earlier in the year. A sustained slide in active addresses can weigh on fee revenue, developer attention and short‑term demand for SOL, though it’s only one of several health indicators for the ecosystem. The move may reflect cooling memecoin and NFT cycles, broader market conditions, or user migration to other chains and L2 solutions; observers will be watching TVL, developer commits and new dApp launches for a fuller picture of recovery or continued slowdown.