Surge in Active Addresses Impacts Major Blockchains

Solana leads with 22.75 million active addresses in the past seven days, followed by BNB Chain, Tron, Avalanche, and Fantom, according to Nansen data.

This elevation in activity, fueled by enhanced wallets and DeFi participation, indicates increased user interaction, impacting Solana, BNB Chain, and others.

Solana’s Active Addresses Surpass 22 Million Weekly

Blockchain networks Solana, BNB Chain, Tron, Avalanche, and Fantom are experiencing increased user activity, with Solana leading at 22.75 million active addresses in the past week. Solana’s rise is significantly attributed to the Phantom Wallet’s capabilities. Solana’s leadership, including Anatoly Yakovenko and the Phantom Wallet team, frequently updates users on platform advancements, promoting engagement.

Increased address activity affects market dynamics. Solana’s enhanced features, such as multichain swaps, are elevating DeFi engagements, fueling swaps and trading volumes across these ecosystems. Phantom Wallet, with its integrated cross-chain functionality, supports Solana’s robust performance. Brandon Millman, CEO of Phantom Wallet, stated, “With powerful swap and bridge features, Phantom is unlocking a new era of cross-chain usability for millions of users.”

Community and developer reactions show heightened excitement. Developers across these platforms are pushing for cross-chain dApp deployment, indicated by GitHub and Discord spikes. Phantom Wallet’s CEO, Brandon Millman, noted on Twitter the impact of swap functionalities on user experience.

Market Dynamics Shift with Blockchain Address Activity Surge

Did you know? In Q4 2024, Solana experienced another major leap in active addresses in line with significant wallet updates, mirroring the recent activity spike driven by current wallet enhancements.

Solana (SOL) trades at $149.89, with a market cap of $80.09 billion, according to CoinMarketCap. Its 24-hour volume is $2.76 billion, with a 4.64% price rise. Over the past week, SOL gained 11.39%, although it fell 9.25% in 30 days. The fully diluted market cap is $90.54 billion as of June 29, 2025, 02:50 UTC.

Anatoly Yakovenko, Co-founder of Solana, emphasized, “Solana’s scalability enables real world user growth—it’s amazing to see organic activity reflected in on-chain metrics.” According to the Coincu research team, blockchain growth is reinforced by wallet advancements and DeFi expansion in major networks like Solana. Solana’s rapid user growth, driven by wallet innovations, points to sustained network utility. BNB Chain and other networks could emulate this trend, indicating a continued market evolution.