According to a report by The Block, last month Solana's monthly active address count reached a historic high, exceeding 123 million. Data shows that the number of unique addresses signing transactions on Solana has increased by over 42% from September. In January of this year, the network's active address count was less than 12.7 million. Analysts say that Solana's recent surge in activity is driven by the increasing popularity of memecoin trading on the network, and has been supported by platforms such as Pump.fun and decentralized exchange Raydium, both of which have experienced strong activity in the past month. In addition, a16z's "Crypto State of the Nation" report for October showed that Solana's monthly active addresses exceeded 100 million, while Ethereum and other EVM chains had only about 57 million, indicating higher user participation on Solana.