Solana transactions hit record 4.2B as SOL rallies 40%
Tokenized real-world assets on Solana are nearing $4 billion as network activity accelerates alongside a broader recovery in crypto markets.
The Solana blockchain processed a record 4.2 billion transactions in July, marking an 13.5% increase from the previous month. This surge in activity has been accompanied by a notable 91% rise in transaction counts since December. The growth has been driven by a broader expansion in tokenized real-world assets (RWAs) on the network, with the value of distributed RWAs across tracked blockchain networks reaching over $38 billion, according to data from RWA.xyz.
On Solana specifically, the value of tokenized RWAs has surged to nearly $4 billion, representing an 11.8% increase over the past month.
The recent activity on Solana is part of a broader recovery in the crypto markets. SOL, the native cryptocurrency of the Solana blockchain, has rallied approximately 40% over the past eight days. This rally has coincided with a broader rebound in the crypto market, as indicated by data from CoinMarketCap. The surge in activity and SOL's price gains have been fueled by a series of positive developments, including the US Treasury Department's plan to double certain long-dated bond buybacks to at least $4 billion per operation.
This move has helped to lift yields and boost risk appetite across crypto markets, providing a positive outlook for the SOL cryptocurrency.
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