Solana’s decentralized exchange (DEX) ecosystem is booming in raw numbers. Over 750 million addresses have been recorded interacting with Solana DEXs.

But a closer look shows a striking pattern, 96.6% of these addresses disappear within a day.

That means the vast majority of trading addresses have a lifespan of less than 24 hours, often averaging just 15 minutes.

Transaction Burst or Volume Inflation?

The short-lived nature of most addresses raises questions about what’s driving the activity. On-chain analysts suggest these addresses are likely spin-ups for volume inflation.

The trend is particularly strong with new memecoins, where trading bots create fresh wallets, transact rapidly, and vanish. It boosts reported volume but says little about long-term user adoption.

In reality, Solana’s DEX scene may look busier than it actually is.

The Sticky Side of Solana DEX Users

Not everything is noise. When filtering past the one-day churn, the data tells a different story.

More than 1.8 million addresses have remained active for over one year. These long-term DEX users hold an average lifespan of 655 days. That’s nearly two years of activity, proof of real commitment.

Even more telling is the stickiness of addresses in the middle ranges. Between 1 day to 1 week, 1 week to 1 month, 1 month to 1 quarter, and 1 quarter to 1 year, the numbers are surprisingly close.

In fact, there are more addresses lasting 3–12 months than those sticking around for just 1–3 months. That suggests Solana’s trading community doesn’t fade quickly once it settles in.

Why Stickiness Matters

Stickiness is a key metric for blockchain ecosystems. Short-term addresses inflate transaction numbers, but they don’t contribute to sustained liquidity or community growth.

Addresses that last quarters or years drive the real value. They support consistent trading, provide liquidity, and engage across different DeFi protocols.

For Solana, the data shows two extremes: a flood of fleeting addresses likely tied to memecoin speculation, and a solid base of loyal traders who stick around.

Solana’s DEX Landscape in Context

Solana’s DEX boom comes during a period of high activity in memecoins and automated trading strategies. The network’s speed and low fees make it a perfect playground for bots and volume pushers.

Yet, the 1.8 million+ long-term addresses show Solana isn’t just hype-driven. These are real users engaging in swaps, liquidity provision, and long-term DeFi strategies.

The balance between noise and genuine growth is critical. If Solana’s sticky base expands while the churn continues, the DEX ecosystem could mature into one of the strongest in crypto.

What Analysts Are Saying

A recent analysis shared by DeFi Oasis

探寻了 Solana DEX 交易者的生命周期（第一笔到最后一笔 DEX 交易的时间跨度），且过滤掉在近 24 小时内首笔 DEX 交易的新地址，发现许多有意思的点

– 总 Solana DEX 交易地址数超过 7.5 亿个，但 96.6% 的地址生命周期在 24 小时内，且平均生命周期大概在 15 分钟，大多数应该是被用于新 Memecoin… pic.twitter.com/HJsR0pw3XQ

— defioasis.eth (@defioasis) September 6, 2025

highlighted the same contrast. While the headline number of 750 million addresses looks impressive, the short lifespans show the importance of digging deeper.

The takeaway: address count alone is misleading. Stickiness and lifespan reveal the true health of a network.

The future of Solana DEX trading hinges on whether sticky addresses keep growing. If new entrants convert into long-term users instead of one-day bots, Solana could lock in lasting adoption.

The network already shows strong retention over months and years. With memecoin hype driving waves of short-term addresses, the challenge will be filtering the signal from the noise.

For now, Solana holds a unique dual identity:

 A hotspot for fast, speculative memecoin trading.
 A sticky base of real traders with years of activity.

Both fuel the ecosystem, but only the latter will define Solana’s long-term strength.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Filed under: Bitcoin - @ September 6, 2025 7:29 pm