Solana Network Growth Rises 124% as October ETF Outflows Top $22M So Far

Solana’s network growth rose 124% since early September as wallet creation and daily activity accelerated, even while U.S.-listed Solana (SOL) exchange-traded funds saw net outflows so far in October.

About 1.71 million new wallets have been created on the network each day during the period. Daily active addresses rose 58% to about 4.27 million, indicating that activity increased alongside wallet creation.

Solana’s stablecoin economy also expanded in scale. More than 14 million addresses now hold stablecoins on the network, compared with fewer than 4 million in late 2024. Total stablecoin supply on Solana exceeds $15 billion.

Institutional fund flows have moved in the opposite direction. U.S.-listed spot SOL exchange-traded funds attracted more than $271 million in September, making it their second-best month to date.

So far in October, the funds have recorded one inflow day, with $1.30 million entering on Oct. 2. Outflows have exceeded $22 million.

The figures show stronger network activity alongside weaker demand through spot SOL investment products. Wallet creation, active addresses and stablecoin use remain key measures of activity on the Solana network, while ETF flows reflect a separate channel of institutional demand.