Farcaster has recently started seeing some growth spurt with DAUs getting close to last year’s peak. This growth spurt can be attributed to the recent airdrop announcements. There’s also an expected airdrop for solana wallet.

This article will provide a dive into Farcaster’s data related to –

•        Farcaster’s recent growth

• Solana data of collected wallets

•        Analysis of the recent airdrops($HIGHER)

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General Growth

The daily new sign ups have exploded recently, however they are still not near February’s numbers. It is safe to say that the recent sign-ups have been due to the airdrop announcements.

Also, if you look at the monthly chart of the same, you’ll see that the month of march is not that special despite the spike in sign ups –

Active Users

As you can see here, the DAU figure on 19 March 2025 with 64k users got close to the largest peak of 73k user.

It is interesting to note that this spike in DAU happened before the spike in new users (which happened on 23 March) which suggests that this spike in DAU number is due returning users and not new users.

(note - The DAU is calculated as the number of distinct users that are posting or commenting)

Monthly Active Casters of March(215k) present a very positive figure. This is the highest MAU figure since July of 2024 which had 238k MAU and the month of march isn’t over yet! Things are seemingly headed in the right direction. Although, one issue is that a good chunk of this number is due to the airdrop announcements so it remains to be seen whether these new and returning users will be sticky and high quality or not.

Impact of Airdrop announcements

It is a safe to say that the recent spike is due to the airdrop announcements because there has been a sharp uptick in the wallet connecting activities.

The first peak in February is due to the introduction of Warpcast wallets(warplets), the second one is due to the airdrop announcements

It becomes more obvious when you look at just solana wallet connections. Lots of new connections in the recent period

I will provide Monthly retention analysis at the end of March to my subscribers on hypersub.

I will also closely take a look at who these re-activated users are.

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SOLANA X FARCASTER

The increase in connected Solana wallets on Farcaster also gives us an opportunity to look at the data of the activities and the nature these wallets.

General Metrics

There are 155K solana addresses connected to Farcaster belonging to 154K FIDs.

Dry Powder

•         SOL- 49,460 ($ 6,776,020)

•         USD Stablecoins – $ 5,528,218

•         Other tokens- $ 9,648,549 (the dune prices table is messy so this is taking the lowest prices of tokens 10 days ago)

•         Total balance – $ 21,952,787

It is important to note that the SOL balance of users who casted in the past 10 days is a little more than 10K.

This is actually a pretty positive figure because most active users tend to lurk a social media rather than posting on it.

Top Tokens held by FC users(excluding SOL and Stables)

Again, this uses lowest token prices from 10 days ago.

As you can see, Farcaster users love FARtcoin. Other top holdings include – JitoSOL,$WIF, ai16z,etc.

The distribution of money across these tokens is very interesting. Fartcoin is almost in a different league as compared to the rest of the tokens.

Looking at the top holders of the different tokens

Now, let's who are these people on Farcaster that are holding heavy bags of SOL, Fartcoin,JitoSOL, etc.

SOLANA DEX METRICS

NOTE - Dune dex table does not yet have the pumpswap data. But this list will be updated as soon as the pumpswap data is added(which is expected soon)

Of the given projects, Raydium easily remains at the top, however even it has 14k distinct wallets in the past 30 days which suggests that most wallets are not active traders(atleast not outside pumpswap)

Analysis of Airdrops

Farcaster team has recently started focusing in helping teams of different tokens  airdrop their tokens to Farcaster users. Farcaster has had multiple tiny airdrops($HIGHER,$jam, etc) and more airdrops are planned in the future.

This section will focus on the analysis of the airdrop of $HIGHER which started a little more than three days ago.

(note –the intent of this article is not to shun anyone for selling or transferring their airdrops, but to merely check the effectiveness of airdropping to FC users)

Since then, The $HIGHER airdrop has been received by 1000 wallets, each getting 600 $HIGHER.

How has the holding performance been?

i will look at metrics such as - How many are still holding the full sum, how many fully sold, how many were holding higher prior to the airdrop, have airdropped users bought more, how much was sold etc

•     688(69%) out the 1000 wallets are still holding 600 $HIGHER or more

If you are a project thinking of airdropping to Farcaster users then please subscribe to look at the performance of this airdrop! It would help me a lot to provide regular free and paid farcaster and web3 related insights!