Solana Processes 4.2 Billion Transactions In Record Month

In July, 4.2 billion transactions were processed on Solana, a monthly record for the network. Activity grew by 13.5% in one month and by 91% since December 2025. This increase precedes an approximate 40% rise in SOL over eight days, with a crossing of the $100 threshold. Meanwhile, the valuation of tokenized real-world assets on Solana currently approaches $4 billion.

Solana sets its monthly record at 4.2 billion transactions

The Solana blockchain managed 4.2 billion transactions during July this year, according to data published on August 25 by The Kobeissi Letter. This activity volume represents a monthly increase of 13.5%. It surpasses by nearly 2 billion the level recorded in December 2025, a gain of 91% in seven months.

The indicator concerns activity processed directly on the network. However, messages sent by validators to participate in consensus are excluded from non-vote transactions. These mainly include exchange operations on decentralized platforms, token transfers, stablecoin payments, and interactions with applications.

The increase was already evident in June. Solana then recorded 3.77 billion non-vote transactions, according to Blockworks data reported by Solana Compass. The blockchain subsequently surpassed one billion non-vote transactions in a single week in early July.

Moreover, the number of transactions does not measure either the financial value or the exact number of users. Indeed, the same address can perform many transactions, while automated programs can generate significant activity. The record thus reflects extensive blockchain usage, without by itself measuring the economic quality of this growth.

RWAs approach $4 billion, but transfers decline

The valuation of real-world assets shared on Solana has already reached $3.97 billion as of August 26, according to RWA.xyz. The amount increased by 9.21% in one month. Also, the number of holders rose to 349,510, up 10.42% over the same thirty-day period.

The Solana network now accepts various categories of tokenized assets. These include U.S. Treasury bonds, money market funds, stocks, ETFs, commodities, and private credit. BlackRock’s BUIDL funds and Franklin Templeton’s BENJI are among the most visible products. That is why the Solana Foundation notes that BUIDL represents over $550 million of assets on the blockchain.

However, the increase in deposited value is not accompanied by an identical rise in all data. For example, the number of RWA transfers over one month declined by 29.72%, to $3.05 billion. This contradiction reveals that growth in holdings does not necessarily mean increased asset circulation.

It also remains difficult to attribute the overall transaction record exclusively to RWAs. DeFi activities, stablecoins, decentralized exchanges, and automated applications also contribute to traffic. Moreover, the simultaneous increase of both indicators shows industry expansion but does not prove a direct cause-effect relationship.

SOL surpasses $100 before giving up part of its gains

SOL gained nearly 40% in eight days and surpassed $100 for the first time since February. This move is part of a general crypto market recovery. As of today, the token was trading around $97, with a weekly increase of 26.3% but a daily decline of 4.7%, according to CoinGecko.

The improvement in on-chain activity provides fundamental support for the rebound. However, it alone does not explain the price rise. It is important to note that flows to investment products, the overall market trend, and macroeconomic conditions also played roles.

Notably, the U.S. Treasury announced on August 19 that it would at least double the size of certain long-term bond repurchase operations. Their cap will thus increase from $2 billion to $4 billion per operation starting September 9. This decision aims to support liquidity in the bond market, according to the official Treasury statement.

August data will determine whether July’s record marks sustainable progress. Three indicators will be closely monitored: non-vote transactions, the volume of RWA transfers, and SOL’s ability to remain above $100. A simultaneous increase would strengthen the scenario of wider network adoption.

Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d’une certification consultant blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse objective de l’actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

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