Solana Network Growth Up 124% as Santiment Turns Bullish
By Alphacino Editorial Team ·
Quick Take
Solana is onboarding wallets at a blistering pace, and Santiment says that user surge matters more than this week's ETF outflows.
Solana's user base is exploding, and on-chain analytics firm Santiment thinks the market hasn't priced it in yet. Network growth on the chain has surged 124% since early September, with Solana now adding roughly 1.71 million new wallets per day.
Activity is climbing alongside onboarding. Daily active addresses rose about 58% over the same stretch to around 4.27 million. That's not just fresh wallets sitting idle — it's more people actually transacting, swapping and, yes, aping into the latest meme coin launches. Santiment's argument is a classic one: networks that pull in more users and real utility have historically been able to support bigger market caps over time.
The bearish counterpoint is coming from Wall Street wrappers. Spot Solana ETFs have bled around $17.7 million in outflows across three straight trading sessions, signaling that some institutional money is taking chips off the table even as on-chain usage booms. That divergence between TradFi flows and native activity is exactly the kind of setup traders like to watch.
For meme coin degens, rising wallet creation is the fuel that matters. More new wallets usually means more fresh buyers hitting launchpads and DEXs, which tends to support volume on new tickers and graduations. If Santiment is right and this growth sticks, the Solana meme coin trenches could stay busy well into Q4.
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