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Analyzing Solana's Growth: Airdrop Impact and User Engagement

Ally Zach

Nov 30, 2023 ⋅  12 min read

Solana's native token, SOL, has surged over 500% in value, a rise attributed to the initiation of a DeFi airdrop season and increased application development on the network. Despite the growth in active addresses and applications, this significant increase in price prompts an investigation into whether it has outpaced the network's fundamental growth. Analyzing user activity across DeFi and consumer applications on Solana is essential to understanding the current state of its ecosystem, assessing its potential, opportunities, and challenges, and determining if the recent price action is grounded in current user activity or anticipates future usage.

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Ally Zach

53 Reports0xallyzach

Ally is a Research Analyst on the Enterprise team at Messari. Prior to joining the team, Ally worked as a Structural Engineer at Magnusson Klemencic Associates. Ally graduated from the University of Illinois in 2018 with a master’s degree in Civil and Structural Engineering.

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About the author

Ally Zach

Ally is a Research Analyst on the Enterprise team at Messari. Prior to joining the team, Ally worked as a Structural Engineer at Magnusson Klemencic Associates. Ally graduated from the University of Illinois in 2018 with a master’s degree in Civil and Structural Engineering.

53 Reports0xallyzach

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