The number of active users of the Solana cryptocurrency has fallen to a two-year low

According to The Block, on August 31, 2023, the number of active addresses in the Solana network was 203,830. This is a new low since December 2020. By September 4, 2023, the figure leveled off slightly, reaching 207,820.

The blockchain did not experience such a decline even after the bankruptcy of the FTX exchange, when the daily number of active addresses ranged from 360,000 to 400,000.

One of the reasons for the gradual decline in activity on Anatoliy Yakovenko’s blockchain may be pressure from the US Securities and Exchange Commission (SEC). The regulator designated the native SOL network token as a security in a lawsuit against the Binance platform.

As a reminder, payment giant Visa is testing the ability to pay with stablecoins on the Solana blockchain. «The pilot demonstrates how combining USDC with Visa’s innovations is opening up the future of payments, commerce, and financial applications,» said Circle CEO Jeremy Alleyre.