Solana Network Reaches 46 Million Daily 7DMA for Non-Voting Transactions, Highest Since January 2022

The Solana network's seven-day moving average (7DMA) of daily non-vote transactions (non-voting transactions) reached 46 million, the highest level since January 2022, which is almost double the 21.9 million transactions in late April 2024, according to The Block. Non-voting transactions are all transactions on the network that are unrelated to the verifier's voting process, and can include a variety of activities such as money transfers, smart contract interactions, and decentralized application (dApp) usage. The proliferation of non-voting transactions can be attributed to the burgeoning "memecoin" economy in the Solana ecosystem, with platforms such as pump.fun contributing significantly to this growth. According to its 7DMA, the Solana network has 1.45 million active addresses per day, meaning that the average active user conducts more than 30 transactions per day. This is in stark contrast to Ether, where the average active address makes only two transactions per day.