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.
Summary
- Solana processed a record 4.2 billion transactions in July, up 13.5% from June.
- Monthly transactions have increased by about 91% since December 2025.
- Tokenized real-world assets on Solana have risen to nearly $4 billion.
- SOL crossed $100 as Treasury buyback plans supported demand for risk assets.
Solana transactions reached 4.2 billion in July
The Kobeissi Letter presented data on Aug. 25 showing 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 cited by TheStreet 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. Because blockchain data providers classify transactions differently, figures can vary depending on whether they count validator votes, failed transactions or only non-vote activity.
An earlier network activity report from crypto.news found that Solana’s weekly non-vote transaction total had crossed 1 billion for the first time in early July. At the time, rising active-user figures and decentralized application revenue accompanied SOL’s recovery.
Trading activity has also 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 at the time of retrieval.
Solana’s stablecoin supply reached about $15.94 billion, rising 3.58% in seven days. USDC accounted for 44.95% of the network’s stablecoin market, according to the same dataset.
Solana RWA value has approached $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, along with about $125.9 million in represented asset value. Distributed value refers to assets issued and available across public blockchain addresses, while represented value covers assets recorded onchain without necessarily being distributed to holders.
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. RWA.xyz data indicates that another $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. The network also generated $342.2 million in Chain GDP during that quarter, according to figures included in a previous Solana financial report.
Across all networks monitored by RWA.xyz, distributed real-world asset value stood at $38.18 billion on Aug. 25. Tokenized U.S. government debt accounted for approximately $15.64 billion of the total, making Treasury products one of the largest segments tracked by the platform.
RWA value excludes stablecoins in many industry datasets, so it should not be added directly to Solana’s $15.94 billion stablecoin supply without checking the provider’s methodology.
SOL rally has carried the price above $100
CoinMarketCap data showed that 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. A recent technical assessment found that the token had reclaimed its main moving averages after a market-wide short squeeze, placing $98 and $100 within reach.
Selling pressure emerged after SOL reached an intraday high near $102.88. Buyers later defended the pullback toward $88 and drove the price back into the mid-$90 range, although another analysis published on Aug. 24 found that the daily MACD had turned bearish.
The same analysis identified $100 as the immediate resistance zone. A sustained move above the recent high would require fresh buying, while a loss of the reclaimed moving averages could weaken the breakout structure.
SOL remains well below its January 2025 record near $295 despite the eight-day advance. U.S. investors can also 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, while noting that token unlocks had absorbed part of the institutional demand.
Treasury buybacks supported the crypto rebound
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.
Beginning Sept. 9, the maximum size will increase from $2 billion to at least $4 billion per operation. The program covers nominal coupon securities in the 10-to-20-year and 20-to-30-year maturity sectors and is scheduled to run under the Treasury’s published buyback calendar through Nov. 4.
Following the announcement, the 30-year Treasury yield fell from a 19-year high of 5.34% to around 5.19%. Lower long-term yields coincided with a sharp advance across cryptocurrencies, including Bitcoin, Ethereum and SOL.
A detailed Treasury buyback analysis reported that the announcement helped produce crypto’s strongest single-day rally since March by easing pressure from long-term borrowing costs. The Treasury describes the purchases as liquidity-support operations rather than quantitative easing.
Investor Stanley Druckenmiller criticized the policy in an Aug. 25 Wall Street Journal opinion column, warning that attempts to suppress long-term bond yields could weaken fiscal discipline and damage confidence in the Treasury market. He said fiscal reform, rather than bond purchases, should address pressure from government debt and rising interest costs.
