Solana Emerges as the Top Choice for Retail Investors, Surpassing Bitcoin and Ethereum

A joint report by American cryptocurrency exchange Gemini and blockchain intelligence firm Glassnode revealed that Solana now leads in speculative investment flows and daily active users.

Solana has become the top choice for retail investors, a recent report shows, as the cryptocurrency has surged in popularity while outpacing bitcoin and ether.

A joint report by American cryptocurrency exchange Gemini and blockchain intelligence firm Glassnode shows that Solana now leads in speculative investment flows and daily active users.

The “hot realized cap” metric, which measures the realized capitalization of coins traded by active wallets over the past week, shows a significant shift toward Solana beginning in October 2023. This metric indicates Solana's ability to attract and retain active trading.

Solana's daily active addresses have reached 12.3 million, far exceeding bitcoin’s 760,000 and ether’s 501,000, demonstrating its increasing popularity and engagement within the crypto community.

Solana also leads in meme coin activity, with the total value of the top two meme coins on Solana, BONK and WIF, surging by 477% since January 2024, growing from $901 million to $4.3 billion, according to the report.

This growth significantly outpaces ether’s top meme coins, shiba inu and pepe, which saw a 45% increase in their combined value from $12.7 billion to $18.4 billion in the same period.

The report also found that retail investor interest in cryptocurrencies is surging, as indicated by the increasing proportion of small transactions (those below $10,000) in the total on-chain transfer volume. This trend coincides with rising asset prices, which have made cryptocurrencies more accessible to smaller investors.

While bitcoin and Solana have seen growing investor interest, ether has experienced a decline, falling behind both in attracting new market participants.

Additionally, on-chain activity in the Asia Pacific region has been expanding more rapidly than in the US and Europe, suggesting a shift in the geographic dynamics of crypto trading.