Solana processed a record 4.2 billion transactions in July as SOL rallied roughly 40% in eight days to trade above $100 for the first time since February. Tokenized real-world assets on the network climbed toward $4 billion, while a US Treasury Department plan to expand bond buybacks helped lift risk appetite across crypto markets.
Solana's blockchain hit a monthly record in July, and the surge in usage arrived just before SOL broke back above the $100 mark.
Network activity climbs to a record
Onchain data presented by The Kobeissi Letter showed Solana processed a record 4.2 billion transactions in July. That marked an increase of 13.5% from the previous month. Transaction counts have risen by roughly 2 billion since December, a 91% increase. Trading activity also climbed: DefiLlama recorded $20.14 billion in Solana-based decentralized exchange volume over seven days, a 103% jump from the previous week.
Real-world assets approach $4 billion
The growth has coincided with a broader expansion in tokenized real-world assets. RWA.xyz reported that distributed real-world asset value on Solana reached approximately $3.97 billion by Aug. 25, an 11.81% increase over 30 days. Across all networks the platform tracks, distributed real-world asset value stood at $38.18 billion on Aug. 25. Solana's stablecoin supply also grew, reaching about $15.94 billion.
SOL rallies past $100
SOL has rallied roughly 40% over eight days, with much of the advance coming alongside a broader crypto market rebound, according to CoinMarketCap data. The rally briefly pushed the token above $100 for the first time since February. SOL still trades well below its January 2025 record near $295 despite the eight-day advance.
Treasury buybacks support the rebound
The rally accelerated after the US Treasury Department announced plans to double certain long-dated bond buybacks to at least $4 billion per operation, a move that pushed yields lower and helped lift risk appetite across crypto markets. Following the announcement, the 30-year Treasury yield fell from a 19-year high of 5.34% to around 5.19%.
Sources: Cointelegraph.com News, crypto.news
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