Solana hits new record amid memecoin fever and WEN, JUP airdrop

Solana, the blockchain network that outperformed all other altcoins in 2023, shows no signs of slowing down in 2024. The network has seen an increase in activity and adoption in the first month of the new year , breaking many records and attracting millions of new users.

Solana's trading volume and new addresses hit new highs

According to data from The Block, Solana recorded its highest transaction volume since October 2022, processing more than 1.5 billion transactions in just one month. In January 2024, Solana surpassed 1.3 billion transactions, demonstrating high demand and usage for the network's fast transaction speeds and low costs.

Solana also reached a new milestone in the number of new addresses created on the network. As of January 26, Solana had more than 10 million new addresses registered in January alone, surpassing the previous record of 8.7 million in December 2023. The highest ever for addresses The daily new index on the network based on a 7-day moving average was also recorded on January 25, with more than 500,000 new addresses created.


Number of new addresses on Solana Network (daily, 7DMA).


Number of new addresses on Solana Netwrok (monthly)

The network's overall registration numbers have also hit impressive numbers, with more than 62 million addresses registered on Solana as of January 26. The network's best month for registrations was May 2022 with more than 12 million new addresses recorded, followed by January 2024 and December 2023.

Solana-based airdrop and memecoin drive adoption

One of the main drivers of Solana's growth and popularity is the success of its original memecoins, which are tokens created for entertainment or as a social experiment, often inspired by memes or coins. popular direction. Solana has a vibrant and diverse memecoin ecosystem, with hundreds of projects deployed on the network, from Doge-inspired tokens to NFT-based tokens.

The newest popular memecoin on Solana is WEN, which is currently being airdropped to over a million users who meet certain criteria. The WEN airdrop program, which begins on January 22 and ends at 10 a.m. on January 27, is open to users of Solana's Jupiter exchange, owners of Solana Saga phones, and holders of select projects. Solana-based NFTs, such as Solana Monkey Business, Solana Apes, and Solana Cats.

The WEN token, short for “When Lambo?”, is a humorous reference to a common question asked by cryptocurrency enthusiasts hoping to become rich enough to buy a Lamborghini. The token's website states that WEN has “no utility, no roadmap, no team, no whitepaper, no fundamentals, no technical analysis, no partnerships, no no advisors, no audits, no marketing, no community, no vision, no mission, no purpose, no values, no future, nothing.

Despite this description, WEN has attracted a lot of interest and excitement from Solana users who rushed to grab their share of the airdrop. However, as of January 26, only 54% of the airdrops have been claimed, leaving 46% unclaimed. Unclaimed tokens will be burned after the airdrop ends, reducing the total WEN supply from 1 billion to approximately 540 million.

The WEN airdrop also serves as a test for Jupiter, Solana's largest decentralized exchange aggregator, allowing users to swap tokens across multiple DEXs on Solana with the best prices and lowest fees. Jupiter Exchange has grown rapidly to become one of the most popular and trusted platforms on Solana, with over 2 billion USD in total value locked and over 1.5 million users.

Jupiter plans to launch its own governance token, JUP, this Wednesday, January 28, in a highly anticipated airdrop. JUP's first airdrop is for 955,000 qualified users who meet the 1,000 USD swap volume requirement before the snapshot in November 2023. JUP tokens will allow users to participate in the governance and decision-making of the JUP. Jupiter, as well as benefit from sharing platform revenue and reduced fees.

Solana's future prospects
Solana's impressive performance in 2024 to date shows that the network has a strong and loyal user base, as well as a vibrant, innovative ecosystem of projects and applications. Solana's scalability, speed, and low-cost transactions make it an attractive platform for developers and users looking to leverage the benefits of blockchain technology without compromising performance or experience user.

Solana's future outlook is also positive as the network continues to improve its technology and security, as well as expand its global reach and adoption. Solana's roadmap for 2024 includes several important milestones, such as the launch of Wormhole 2.0, a crosschain bridge connecting Solana with other blockchains, such as Ethereum and Binance Smart Chain; launched Starlight, a layer 2 solution that allows instant and easy transactions on Solana; and launched Solana Academy, an educational platform to train and support the next generation of Solana developers and entrepreneurs.

Solana's growth and success in 2024 proves that the network is not only a leading altcoin but also a formidable contender in the blockchain space, challenging the dominance and status quo of older networks and older. Solana's vision of creating a fast, scalable, and decentralized web where anyone can build and use applications that empower users and benefit society, is becoming a reality every day.