In July, 4.2 billion transactions were processed on Solana, a monthly record for the network. Activity has seen an increase of 13.5% in one month and 91% since December 2025. This increase precedes an increase of around 40% in the SOL in eight days, with a crossing of the $100 mark. At the same time, the valuation of real-world assets tokenized on Solana is currently approaching $4 billion.
In brief
- Solana recorded 4.2 billion transactions in July, 13.5% more than in June.
- The monthly number of transactions has increased by around 2 billion since December 2025.
- The value of RWA distributed on Solana reaches $3.97 billion.
- SOL briefly crossed $100 before returning to around $97.
Solana brings its monthly record to 4.2 billion transactions
The Solana blockchain managed 4.2 billion transactions during the month of July this year, according to data relayed on August 25 by The Kobeissi Letter. This volume of activity reflects a monthly increase of 13.5%. It outperforms the level recorded in December 2025 by almost 2 billion, an increase of 91% in seven months.
The indicator relates to activity processed directly on the network. However, messages transmitted by validators to participate in consensus are eliminated from non-voting transactions. These mainly include exchange operations on decentralized platforms, token transfers, stablecoin payments and interactions with applications.
The progression was already revealed in June. Solana then counted 3.77 billion non-voting transactions, according to Blockworks data taken by Solana Compass. The blockchain subsequently exceeded one billion non-voting transactions in a single week at the beginning of July.
Furthermore, the number of operations nevertheless evaluates neither the financial value nor the precise number of users. This is because the same address can execute many transactions, while automated programs can generate significant activity. The record therefore expresses significant use of the blockchain, without allowing alone to measure the economic quality of this growth.
RWA nears $4 billion, but transfers decline
This valuation of real-world assets shared on Solana already reached $3.97 billion as of August 26, according to RWA.xyz. The amount increased by 9.21% in one month. In addition, the number of holders increased to 349,510, an increase of 10.42% over the same thirty-day period.
The Solana network now accepts various categories of tokenized assets. Thus, they include US Treasuries, money market funds, stocks, ETFs, commodities and private credit. BlackRock’s BUIDL and Franklin Templeton’s BENJI funds are among the most visible products. This is why the Solana Foundation highlights that BUIDL represents over $550 million in assets on the blockchain.
However, the evolution of the deposited value is not accompanied by an identical increase in all the data. Thus, the number of RWA transfers over one month fell by 29.72%, to $3.05 billion. This contradiction reveals that the increase in assets does not necessarily mean that these assets are circulating more.
It also remains difficult to award the total record of transactions exclusively to RWAs. DeFi activities, stablecoins, decentralized exchanges and automated applications also participate in traffic. Moreover, the simultaneous increase of both indicators indicates an expansion of the industry, but it does not prove a direct cause and effect relationship.
SOL exceeds $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 movement is part of a general recovery in the crypto market. To date, the token was trading around $97, with a weekly increase of 26.3%, but a daily decline of 4.7%, according to CoinGecko.
Improving on-chain activity provides fundamental support for the rebound. However, it is not enough to explain the price increase alone. It should be noted that flows into investment products, general market developments and macroeconomic conditions also played a role.
The US Treasury notably announced on August 19 that it would at least double the size of certain long-term bond buyback operations. Thus, their ceiling will increase from 2 to 4 billion dollars per operation as of September 9. This decision aims to support the liquidity of the bond market, according to the official statement from the Treasury.
August data will help determine whether July’s record marks a sustainable progression. Three indicators will be particularly monitored: non-voting transactions, the transfer volume of RWA and the ability of the SOL to remain above $100. A simultaneous progression would reinforce the scenario of a more robust adoption of the network.
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