The number of daily active wallets on the Solana network was below 40,000 before FTX shut down but has now risen above 120,000. This increase in activity coincides with a rise in other fundamental indices on the network, including a $400 million increase in market capitalization and a rise in SOL price from $12.45 to $13.29.
Solana's Meme Token Bonk Boosts Daily Active Wallet Numbers
The launch of Solana's first-ever meme token, Bonk, contributed to the increase in daily active wallets on the network. In response to a tweet by Ton Dunleavy, a Senior Research Analyst at Messari, some users credited the launch of Bonk for the rise in activity.
The dog-inspired meme token has already seen up to 50 integrations on the network in less than two weeks and is described as a "community coin" that will be used across many DApps on Solana.
