Active Solana Addresses Surge 115% While Bitcoin Gains Traction Among Merchants

Key Takeaways:

• Solana’s active address count soared by 115% in January, largely driven by a frenzy in memecoin launches utilizing advanced AI technology.
• Ethereum’s network activity increased by 25% following significant upgrades aimed at lowering transaction fees and enhancing future stability.
• Bitcoin mining in the US faces challenges as winter storms impact power grids, highlighting the flexibility of demand response programs among miners.
• A substantial 40% of US merchants now accept cryptocurrencies, with an increasing trend towards mainstream adoption seen in PayPal’s latest report.
• Geopolitical concerns, particularly around Greenland, continue to affect Bitcoin’s market price, showcasing its sensitivity as a risk-on asset.

WEEX Crypto News, 2026-02-10 09:32:10

In January, significant developments occurred across major blockchain networks, with notable surges in activity and evolving trends in the cryptocurrency space. Solana and Ethereum networks showcased remarkable growth, driven by technological advancements and community engagements that boosted their digital ecosystems. The month also saw challenges for Bitcoin miners due to severe weather conditions and broader market influences shaped by geopolitical factors.

Solana Activity Spikes Amid Token Launch Revitalization

The Solana network experienced an extraordinary increase in the number of active daily addresses, surging by 115% as of January 28. This growth was fueled by an upsurge in memecoin minting activity, propelled by the deployment of Anthropic’s Claude Cowork, a cutting-edge AI agent capable of controlling user desktops. This technological innovation empowered developers using Solana-based platforms like Bags to accelerate token launch processes significantly.

Fees on the Solana platform surged to unprecedented levels, reaching $4.5 million on January 16, contrasting starkly with the relatively minimal daily fees observed between September and December of the previous year. During that period, fees rarely breached the five-digit threshold, occasionally dipping to a few hundred dollars. The number of tokens successfully launched from Bags overtook other significant Solana token platforms such as Pump.fun, further indicating a shift in developer and user preferences towards Solana’s infrastructure.

Ethereum Upgrades Boost Network Activity

Similarly, Ethereum demonstrated robust activity with a 25% increase in daily active addresses by the end of January. This surge was attributed to several key network upgrades which expanded block sizes and subsequently lowered transaction fees. On January 29, transaction fees on Ethereum averaged less than $0.01, marking a significant improvement in affordability and accessibility for users.

These upgrades form part of a broader initiative to fully realize Ethereum’s potential. One of the network’s co-founders, Vitalik Buterin, outlined the need for Ethereum to pass what he termed a “walkaway test”—an ability for the system to function autonomously without the constant intervention of developers. This focus on autonomous sustainability encapsulates Ethereum’s vision of becoming a self-sustaining system that continues to meet user demands independently.

Bitcoin Miners Adapt to Weather Challenges

Severe winter storms sweeping through parts of the United States posed significant challenges for Bitcoin mining operations, particularly those based in the Southeast and South Central states. Seven major mining operations, including Riot and Core Scientific, faced potential curtailment due to stress on power grids. However, these miners demonstrated adaptability through utility demand response programs, which allow them to act as flexible loads on the grid, shifting power usage based on demand variations.

The storm caused widespread power outages and dangerous conditions, with at least 20 fatalities reported by January 27. States less prepared for wintry weather, such as Kentucky and Mississippi, were among the hardest hit, exacerbating difficulties for residents and infrastructure alike. Despite these adverse conditions, Bitcoin miners continue to play a crucial role in stabilizing electricity grid prices, leveraging low-demand periods to purchase power economically and throttling back operations during peak demand.

Growing Bitcoin Acceptance Among Merchants

A recent report by PayPal highlighted a significant trend in cryptocurrency adoption as four in ten merchants across the United States now accept digital currencies for transactions. This shift reflects a growing acknowledgment of cryptocurrencies’ advantages, such as increased transaction speeds and enhanced privacy measures. According to PayPal’s survey, 84% of merchants believe that cryptocurrencies will become mainstream within the next five years.

May Zabaneh, PayPal’s Vice President and General Manager, commented on the evolving role of crypto payments, emphasizing the transition from experimental use to everyday commerce. This trend signifies increasing mainstream acceptance and adoption of cryptocurrencies as viable payment options in diverse retail environments.

Bitcoin Prices and Geopolitical Volatility

Bitcoin’s value has not been immune to geopolitical tensions. The cryptocurrency saw its price swing from an optimistic peak towards $100,000 earlier this month, only to retract by over 10% following intense discussions around Greenland’s geopolitical status. This territory, located strategically in the Arctic and administratively linked to Denmark, became a point of contention when former US President Donald Trump made claims about acquiring it for strategic purposes against perceived Chinese and Russian threats.

Despite these claims cooling off, the market’s reaction underscored Bitcoin’s nature as a risk-on asset, where market sentiment is particularly sensitive to geopolitical dynamics. Analysts, including Chris Beauchamp of investment platform IG, observed that Bitcoin, along with broader markets, felt the pressure of these geopolitical tensions, with cryptocurrencies offering little sanctuary amid the turmoil.

In summary, January has been a remarkable period for the cryptocurrency market, characterized by robust network activity, strategic adaptability, and progressive integration into mainstream payment systems. As these trends continue to evolve, the narrative around digital currencies as transformative financial instruments grows stronger.

Frequently Asked Questions

What caused the increase in active Solana addresses?

The 115% increase in active Solana addresses was primarily driven by a surge in memecoin minting, facilitated by the deployment of advanced AI tools like Anthropic’s Claude Cowork. These developments enabled more efficient and accelerated token launches on Solana.

How have Ethereum’s recent upgrades impacted users?

Ethereum’s upgrades led to a 25% increase in daily active addresses by reducing transaction fees and expanding block sizes. These changes enhanced network efficiency and made transactions more affordable for users.

How are Bitcoin miners dealing with power supply issues during storms?

Bitcoin miners have adapted by participating in utility demand response programs, allowing them to adjust power usage in response to grid demands. This flexibility helps stabilize grid prices and ensures more efficient energy consumption.

What are the implications of increased crypto adoption among US merchants?

Increased crypto adoption among US merchants indicates a shift towards recognizing the advantages of digital currencies, such as faster transaction speeds and greater privacy. It signals a move towards mainstream acceptance, with expectations for broader adoption in the coming years.

How do geopolitical risks affect Bitcoin’s price?

Bitcoin’s price is sensitive to geopolitical events due to its risk-on nature. Market sentiment can be swayed by geopolitical tensions, as seen with the recent fluctuations following discussions around Greenland’s strategic importance.