The Solana network has reached a significant milestone, achieving a new all-time high of 11,438,122 active wallets holding a minimum of 0.1 SOL as of June 28, 2025. This record underscores a period of substantial user growth and strengthening network participation. During this phase, SOL’s price demonstrated notable stability, trading above $150 and reflecting growing investor confidence.
Data from on-chain analytics provider Glassnode indicates a consistent upward trend in wallet addresses over a one-month period, starting from May 27. This growth trajectory highlights increasing adoption among both retail and institutional users. The stability in SOL’s price throughout late June suggests that expanding network activity may be contributing to solid market support.
Understanding Solana’s Network Expansion
Between late May and the end of June 2025, Solana’s network witnessed a steady climb in active wallet addresses. The total count rose from approximately 11.22 million to over 11.44 million within this timeframe. This consistent growth occurred despite fluctuating market conditions, indicating robust and sustainable user acquisition.
The metric of wallets holding at least 0.1 SOL serves as a key indicator of genuine user engagement, filtering out minimal or inactive accounts. The uninterrupted increase throughout the final week of June—without any major declines—points to rising long-term confidence in the Solana ecosystem. Such growth is often driven by factors including broader blockchain utility, real-world application integration, and positive sentiment around network scalability.
This expansion isn't isolated. It aligns with a broader resurgence of interest in Layer 1 blockchain platforms, where Solana continues to capture attention due to its high throughput and low transaction costs. As more users and developers flock to the network, utility and token demand are expected to rise in tandem.
Correlation Between User Growth and Price Stability
While Solana’s wallet count surged, its native token, SOL, displayed remarkable price stability. Closing at $150.76 on June 28, the asset held a narrow trading range during the latter part of the month. This equilibrium is particularly noteworthy given the volatility often characteristic of cryptocurrency markets.
Earlier in the observed period, throughout late May and early June, SOL’s price experienced a downward trend as wallet growth remained subdued. However, as address activity accelerated by mid-June, price action began to reflect this increased engagement. Strong support levels emerged near $145, preventing deeper drawdowns even during periods of weaker broader market sentiment.
This correlation suggests that growing network adoption may be creating organic demand for SOL tokens. As more users hold and use the cryptocurrency for transactions, staking, or participation in decentralized applications, sell pressure may be counterbalanced by new and sustained buying activity. Such dynamics are essential for long-term price strength and market resilience.
Future Outlook: Can Growth Drive Sustained Value?
Surpassing 11.44 million wallets positions Solana among the top blockchain networks in terms of active user engagement. A critical question for investors and market observers is whether this growth can translate into lasting value appreciation and price stability for SOL.
On-chain metrics like wallet growth are leading indicators of network health and potential future demand. As user numbers increase, so does the utility of the network, which can place upward pressure on the token’s value due to its inherent use in transactions, fees, and governance. Historical trends in other leading Layer 1 blockchains support this relationship.
The current expansion appears to be driven not merely by speculation but by growing trust in Solana’s technological foundations and ecosystem development. Should this trend continue, increasing demand could help the asset challenge previous resistance levels near $160. Market participants will be monitoring whether address growth can fuel sustained bullish momentum.
Real-world integration and application development will likely play key roles in maintaining this growth. As more projects and enterprises build on Solana, user acquisition and retention may accelerate further. For those interested in monitoring these on-chain trends in real-time, explore advanced blockchain analytics tools that provide detailed network insights.
Frequently Asked Questions
What does the “wallets holding 0.1 SOL” metric represent?
This metric reflects the number of unique wallet addresses containing at least 0.1 SOL. It is commonly used to gauge genuine user participation, as it filters out very small or inactive accounts, providing a clearer picture of organic network growth.
Why is wallet growth important for a blockchain like Solana?
Growing wallet numbers indicate increasing adoption and usage of the network. This can lead to higher utility, more transaction activity, and greater demand for the native token, which often supports price stability and long-term value appreciation.
How does user growth influence SOL’s price?
As more users hold and use SOL for transactions, staking, or interacting with dApps, natural demand for the token increases. This demand can create support levels that reduce volatility and contribute to upward price momentum over time.
Did Solana’s price remain stable during this growth period?
Yes, SOL’s price held a relatively narrow range around $150 during late June, even as wallet numbers surged. This stability suggests that growing network activity may have provided a foundation of market confidence.
What are the future expectations for Solana’s network growth?
If the current trend continues and real-world adoption accelerates, wallet numbers could keep rising. Sustained growth may help SOL break through key resistance levels and establish a stronger market position.
Where can I track Solana on-chain metrics like wallet growth?
Several blockchain analytics platforms offer detailed and real-time data on network activity. View real-time tools for monitoring these metrics and performing your own market analysis.