Airdrop Army

October saw Solana pull a blinder, surging to its biggest number of active addresses—over 123 million. That’s no typo. The Block’s stats confirm it: this blockchain’s scene exploded, jumping 42% in active wallets from September alone. For a network that barely mustered 12.7 million wallets back in January, it’s an outlier month and then some. Memecoin addicts and high-freq token spinners are everywhere, sending SOL activity stratospheric.

Meme Factories and DeFi Hubs Bring Fresh Fuel to Solana’s Fire

The memecoin scene on Solana is like fuel on a bonfire, blazing faster than most chains. Apps like the meme-spawning Pump.fun and Solana’s trading hive Raydium raked in hefty action. Pump.fun alone snagged a neat $30.5M revenue while Raydium logged $30 billion in trades, says DefiLlama. Memecoins are spinning out faster than airdrops, and each one drops in like a fresh ember.

Eden Au from The Block calls it a “record amount of new tokens” for Pump.fun, adding that Raydium went wild with the highest monthly trading volume. Yet even with the memecoin rush, Au hinted at caution: “It is unclear if this memecoin narrative would be sustainable if other narratives take over.” But Solana’s roots run deep; between DeFi, DePIN, and more, it’s not short on bandwidth for every hype wave that hits.

Solana’s Ultra-Speed Trades Lure in the High-Freq Junkies

Justin D’Anethan, Keyrock’s APAC head, put it this way: Solana’s no ideology, just speed and low fees. “For high-frequency or smaller trades, Solana’s structure is ideal,” he said, adding that “Ethereum’s fees often eat into profits.” Where ETH and its Layer-2s are big and sprawling, Solana is lean and mean, making it a magnet for traders who want that high-octane action without the weighty fees.

Then there’s GOAT. Goatseus Maximus. The AI-backed memecoin that’s drawn a flood of lookalikes since it burst onto the scene with its link to the AI chatbox Terminal of Truths. A storm of AI-themed memecoins is hitting the Solana shores, and SOL’s primed for it.

SOL’s price is sitting pretty too—up 12% over the past month, now floating around $161. More action, more wallets, and more memecoin junkies pouring in. For October, at least, Solana’s got the scene locked down.