Solana Pivots to ‘Finance-First’ Strategy; Active Addresses Hit 18.9M

Solana is shedding its “degen” skin. In a statement that signals a definitive maturation for the network, Backpack CEO Armani Ferrante told CoinDesk that the protocol has entered a new phase focused strictly on financial utility. The pivot comes as network activity decouples from price action: while SOL slipped to $121.46 (-4.5%) alongside a broader market correction (Bitcoin <$88k), weekly active addresses surged from 14.7 million to 18.9 million.

The ‘Finance-First’ Mandate

Ferrante, a central figure in Solana’s post-FTX recovery, noted that the ecosystem has spent the last 12 months “doubling down on financial infrastructure.” This marks a calculated departure from the speculation-driven cycles, dominated by NFTs and gaming, that defined 2021-2022.

“Solana’s new phase is much more about finance… The ecosystem has spent the past year doubling down on financial infrastructure.”

The shift isn’t just rhetorical. The surge in active addresses implies a migration of users toward high-frequency DeFi and payment rails rather than passive holding or jpeg flipping. Ferrante’s commentary underscores a push for institutional compliance and “infrastructure readiness,” positioning Solana to compete directly with traditional fintech rails rather than just other L1s.

Market Reaction & Data

Despite the fundamental growth, the token remains tethered to macro headwinds. SOL struggled to hold support at $122, dropping 4.5% to $121.46 in early European trading. Volume remains thin, suggesting the address spike is organic usage rather than speculative inflows. The divergence between price (bearish) and network usage (bullish) is now the widest it has been in Q1.