Solana cleared more than 1 billion non-vote transactions in the week ending July 6, and its weekly active wallet count nearly doubled in two weeks. Rising tokenized assets and the coming Open USD stablecoin are fuelling talk of a repeat "Solana Summer" — but weak tokenomics may cap what holders earn from all that activity.
Solana just posted a first: in the week ending July 6 it cleared more than 1 billion non-vote transactions, while its weekly active wallet addresses jumped from 16.8 million to 29.7 million over the prior two weeks. That influx has some investors asking whether the chain's explosive 2021 "Solana Summer" could return in 2026.
Tokenized assets and a new stablecoin drive the surge
Much of the fresh activity traces to Solana's expanding base of tokenized assets, which now total around $3.3 billion — $1.1 billion more than it held as of May 9. One segment stands out. As of early June, Solana accounted for roughly 97% of on-chain tokenized stock trading volume.
The chain holds $318.7 million in tokenized stocks, trailing Ethereum's $648.9 million in tokenized equity value. As long as asset managers pursue tokenization to trade and track their stocks, Solana will likely keep taking an incremental share of that capital from Ethereum, the source argues, because its technical fit is better suited to the task.
The larger catalyst is Open USD (OUSD), a consortium-backed stablecoin from more than 140 financial institutions, including BlackRock, launching natively on Solana later this year. Picking Solana as the launch chain means the network could see billions in capital inflows soon.
Why the token may not follow the chain
There is a catch that could make Solana a poor bet this summer despite the momentum. The network is inflationary by design, and because fees are so low, only around 1% of the coin's new issuance is burned through transaction activity. That burn rate is too small to matter against total supply, so holders should not expect much upside from on-chain activity alone.
Those tokenomics can change, and the Solana community has floated recent proposals to do so. Even so, the source cautions against buying on the expectation such proposals will pass. If network activity keeps climbing and OUSD delivers its expected inflows, the source suggests the coin will probably gain even if its tokenomics stay unfriendly to holders.
Source: The Motley Fool
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