Solana (SOL), the standout altcoin of 2023, is off to a strong start in 2024. Earlier this month, the layer-1 network witnessed its highest transaction volume since October 2022. On January 27th, Solana set a new record for daily new address creations.
In addition to these achievements, January marked the second-best month for total new addresses created on the Solana network, with May 2022 being the top-performing month.
The success of meme coins on Solana has undoubtedly played a significant role in this surge of activity. The latest sensation, WEN, is currently being airdropped to over a million users, though nearly half of the airdrop remains unconfirmed as of the time of writing. The window for claiming the WEN airdrop is set to close at 10 AM UTC on January 29th.
The WEN airdrop is also serving as a test for Jupiter, the largest decentralized exchange aggregator on Solana. This comes ahead of their planned airdrop of their own governance token, JUP, scheduled for this Wednesday. The first JUP airdrop targets 955,000 eligible users who met the criteria of having $1,000 in trading volume before the snapshot in November 2023.