Solana has surpassed Ethereum in daily active addresses for the first time on a sustained basis, maintaining higher user activity for 30 consecutive days driven by memecoin trading and a growing DeFi ecosystem.
The Numbers
On-chain data from Artemis Analytics shows Solana averaging 2.8 million daily active addresses compared to Ethereum's 1.9 million during March 2026.
- Solana DEX volume: $4.2 billion daily versus Ethereum's $3.1 billion
- Average transaction cost: $0.002 on Solana versus $2.40 on Ethereum L1
- Memecoin launches on Solana's pump.fun: 45,000 new tokens per day
- Solana DeFi TVL: $18 billion (up 340% year-over-year)
Context
Critics note that Solana's address count is inflated by bot activity and wash trading in the memecoin ecosystem. Ethereum advocates argue that when including Layer 2 networks (Arbitrum, Base, Optimism), the Ethereum ecosystem still dominates in total value and developer activity. The competition is driving innovation on both chains.
