Solana hits record 4.2B transactions as SOL rallies 40% above $100

Solana processed a record 4.2 billion transactions in July, up 13.5 percent from June, as SOL rose 40 percent in eight days to reclaim $100 for the first time since February.

The Kobeissi Letter presented the data on Aug. 25, showing transaction counts have risen roughly 2 billion since December 2025, a 91 percent increase in seven months. Blockworks data cited by TheStreet showed Solana handled 1.32 billion non-vote transactions from Aug. 17 through Aug. 23, its busiest seven-day period on record. DefiLlama recorded approximately 109 million transactions and 2.7 million active addresses during a 24-hour period ending Aug. 25.

The activity surge has accompanied a broader crypto rebound after the U.S. Treasury Department announced it would double long-dated bond buybacks to at least $4 billion per operation, pushing the 30-year yield down from a 19-year high and lifting risk appetite across digital assets.

RWA value on Solana 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 percent 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 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 percent to $2.01 billion. The network also generated $342.2 million in Chain GDP during that quarter.

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.

SOL reclaims $100 before pulling back

CoinMarketCap data showed SOL advanced about 40 percent 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 percent 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. Buyers later defended the pullback toward $88 and drove the price back into the mid-$90 range, although a technical analysis published on Aug. 24 found that the daily MACD had turned bearish. The same analysis identified $100 as the immediate resistance zone.

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.

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 percent 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 percent in seven days, with USDC accounting for 44.95 percent of the network's stablecoin market.

The Treasury buyback announcement on Aug. 19 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.

The record transaction milestone and $4 billion RWA threshold position Solana as a major competitor in institutional asset tokenization. With five spot ETFs now trading and cumulative inflows past $1.12 billion, the network's growth trajectory will likely hinge on whether SOL can sustain a move above $100 and whether tokenized asset issuance continues to accelerate.

This article is for informational purposes only and does not constitute investment advice.