" Solana Network Overtakes Bitcoin Blockchain In Key Metric "

A16z experts released the “State of Crypto” report, highlighting that the Solana network has surpassed Bitcoin in terms of active addresses. According to their findings, Solana now boasts nearly 100 million active addresses, compared to just 11 million on the Bitcoin network.

This large gap between Solana and Bitcoin, as well as other networks, is largely attributed to the growing interest in memecoins, analysts noted. In September 2024 alone, around 220 million wallets interacted with the Solana blockchain.

The report also revealed that there are approximately 617 million cryptocurrency users worldwide, but only 5-10% are actively engaged. Most crypto holders are passive, meaning they aren’t actively investing or trading on exchanges.

Additionally, the number of active mobile wallet users has risen to 29 million. The U.S. makes up 12% of this total, though its share is declining due to regulatory challenges. Meanwhile, countries like Nigeria, India, and Argentina are seeing growth in active users, the analysts pointed out.

To prepare the report, A16z used their own methods to calculate the number of active blockchain addresses and cryptocurrency users.

“Solana Network Overtakes Bitcoin Blockchain in Key Metric“