The decentralized exchange (DEX) ecosystem on Solana has reached a significant milestone, surpassing 750 million unique transaction addresses. However, an analysis of the data reveals that most of these addresses are used for a short period.
Growth of Solana DEX Ecosystem
As of now, Solana DEX has accumulated over 750 million unique transaction addresses. This reflects impressive growth and adoption of the platform, yet 96.6% of these addresses are utilized for less than a day. This may indicate that most wallets are temporary, created for one-time transactions, testing, or bot activities.
Long-Term Users
Despite the high turnover, over 1.8 million wallets have remained active for more than a year. The average lifespan for this group is 655 days, indicating a base of loyal users and developers who actively engage with Solana DEX. This also highlights the maturity of the Solana DeFi ecosystem.
Impact on Solana Ecosystem
The high number of single-day addresses raises questions about the quality of the interactions. Nevertheless, Solana's ability to attract and retain over a million long-term addresses is a positive sign of trust and adoption. The future development of the ecosystem will depend on distinguishing short-term speculation from true user growth.
The situation with addresses in the Solana DEX ecosystem illustrates both massive activity and the need to focus on long-term users to evaluate the platform's real success.
