Solana activity has reached a monthly record of 4.2 billion transactions as SOL gained about 40% in eight days and traded above $100 for the first time since February.
4.2 Billion Transactions in July
Data presented on Aug. 25 showed that Solana handled 4.2 billion transactions during July, surpassing every previous monthly total recorded by the network. Compared with June, activity increased by 13.5%. Solana has added roughly 2 billion monthly transactions since December 2025, lifting the total by about 91% in seven months.
July was not an isolated period of heavy use. Blockworks data showed that Solana processed 1.32 billion non-vote transactions from Aug. 17 through Aug. 23, its busiest seven-day period on record. Live figures from DefiLlama also showed approximately 109 million transactions and 2.7 million active addresses during a 24-hour period ending Aug. 25.
DEX Volume and Stablecoin Supply Surge
Trading activity has increased during the latest market advance. DefiLlama recorded $20.14 billion in Solana-based decentralized exchange volume over seven days, a 103% increase from the previous week. Daily DEX volume stood near $3.02 billion. Solana's stablecoin supply reached about $15.94 billion, rising 3.58% in seven days, with USDC accounting for 44.95% of the network's stablecoin market.
RWA Value Approaches $4 Billion
RWA.xyz reported that distributed real-world asset value on Solana reached approximately $3.97 billion by Aug. 25, an 11.81% increase over 30 days. The analytics platform tracked 1,243 assets on Solana. At the end of July, the Solana Foundation placed the network's RWA value at a then-record $3.73 billion and reported more than 313,000 holders. An additional $240 million was added between the end of July and Aug. 25.
Growth has accelerated since the first quarter, when Messari reported that Solana's RWA market capitalization had risen 43% to $2.01 billion. Across all networks monitored by RWA.xyz, distributed real-world asset value stood at $38.18 billion on Aug. 25, with tokenized U.S. government debt accounting for approximately $15.64 billion of the total.
SOL Crosses $100 as Treasury Buybacks Support Risk Assets
SOL advanced about 40% over eight days as buying returned across major cryptocurrencies. The rally briefly pushed the token above $100, its first move past that threshold since February. Before reaching triple digits, SOL had climbed 25% over seven days and traded as high as $93.39 on Aug. 21. Selling pressure emerged after SOL reached an intraday high near $102.88, with buyers later defending the pullback toward $88.
The U.S. Treasury Department announced on Aug. 19 that it would at least double the maximum size of liquidity-support buybacks for long-dated government securities, from $2 billion to at least $4 billion per operation beginning Sept. 9. Lower long-term yields coincided with a sharp advance across cryptocurrencies. The Treasury describes the purchases as liquidity-support operations rather than quantitative easing, though investor Stanley Druckenmiller criticized the policy, warning that attempts to suppress long-term bond yields could weaken fiscal discipline.
Spot Solana ETFs Gain Traction
U.S. investors can obtain exposure through spot Solana exchange-traded funds, which launched in late 2025. By May 2026, five U.S.-listed products had attracted more than $1.12 billion in cumulative inflows, led by funds from Bitwise and VanEck. A separate June report placed total Solana ETF assets under management at approximately $1.06 billion. SOL remains well below its January 2025 record near $295 despite the eight-day advance.
