Solana transactions hit record 4.2B as SOL rallies 40%

Key facts

• Solana blockchain recorded a record 4.2 billion transactions in July.
• The value of tokenized real-world assets on Solana has reached nearly $4 billion.
• SOL experienced a 40% rally over an eight-day period.
• The increase in network activity and SOL's price coincided with a broader crypto market recovery.

Solana's network activity surged in July, with transaction volumes reaching a record 4.2 billion, a 13.5% increase from the previous month. This surge in activity, which has seen transaction counts rise by 91% since December, has coincided with a significant expansion in tokenized real-world assets (RWAs). Data indicates that RWAs across all tracked blockchain networks have surpassed $38 billion, with Solana specifically seeing its RWA value climb to nearly $4 billion, an 11.8% increase over the past month.

This heightened network activity preceded a sharp rally in Solana's native token, SOL, which surged approximately 40% over an eight-day period, pushing its price above $100 for the first time since February. The broader crypto market recovery also contributed to SOL's gains. The rally was further bolstered by the US Treasury Department's announcement to double certain long-dated bond buybacks, a move that lowered yields and boosted risk appetite within the cryptocurrency space.