Solana is seeing a sharp increase in network activity as SOL rallies back above $100.
The network processed a record 4.2 billion transactions in July, while decentralized exchange activity, stablecoin liquidity and tokenized real-world assets have also expanded. At the same time, SOL gained roughly 40% over eight days, briefly moving above $100 for the first time since February.
Solana Network Activity Hits Record
Data presented by The Kobeissi Letter showed that Solana processed 4.2 billion transactions in July, its highest monthly total on record.
Activity increased approximately 13.5% from June. Since December 2025, Solana has added around 2 billion monthly transactions, representing growth of roughly 91% in seven months.
Kobeissi Letter on X
Weekly activity has also accelerated. Blockworks data cited by TheStreet showed Solana processed around 1.32 billion non-vote transactions between Aug. 17 and Aug. 23, marking its busiest seven-day period.
Different blockchain analytics providers use different definitions for transactions, meaning totals can vary depending on whether validator votes, failed transactions and other activity are included.
DeFi Activity and Stablecoin Liquidity Rise
The increase in network activity has been accompanied by stronger DeFi usage.
According to DeFiLlama, Solana recorded roughly $20.1 billion in DEX volume over seven days, representing an increase of more than 100% from the previous week.
The network's stablecoin supply also reached approximately $15.9 billion, with USDC accounting for nearly 45% of the total.
The combination of higher trading activity and growing stablecoin liquidity suggests that more capital is moving through Solana-based applications as the broader crypto market recovers.
Solana's RWA Market Nears $4 Billion
Solana's growth is also extending into tokenized real-world assets.
RWA.xyz Solana data showed distributed real-world asset value on Solana approaching $4 billion by Aug. 25, representing an increase of nearly 12% over 30 days.
The network has also continued to attract new RWA holders and assets as tokenization expands across blockchain networks.
This growth adds another potential use case for Solana beyond trading and decentralized applications, particularly as financial institutions increasingly explore tokenized securities and other blockchain-based assets.
SOL Breaks Above $100
The increase in network activity comes alongside a major recovery in SOL's price.
SOL gained approximately 40% over eight days, briefly breaking above $100 for the first time since February. The rally followed a broader recovery across the cryptocurrency market.
However, the move above $100 was met with selling pressure. SOL reached an intraday high near $102.88 before pulling back toward the $90 region.
The $100-$103 area therefore remains an important resistance zone. A sustained breakout above the recent high could strengthen the bullish structure, while a move back below key moving averages could increase the risk of another correction.
CoinMarketCap — Solana (SOL)
Treasury Policy Adds to Crypto Momentum
The broader crypto rally has also been supported by changing U.S. Treasury policy.
The U.S. Treasury announced plans to increase the maximum size of liquidity-support buybacks for longer-dated government securities from $2 billion to at least $4 billion per operation, beginning Sept. 9.
The announcement was followed by a decline in long-term Treasury yields and a sharp recovery across Bitcoin, Ethereum and Solana.
U.S. Treasury — Buyback information
Lower long-term yields can improve the appeal of risk assets by easing financial conditions, although the relationship between Treasury yields and crypto prices is not always direct.
What Comes Next for Solana?
Solana now enters an important phase. The network is recording unprecedented transaction activity, DeFi volumes are rising and its RWA ecosystem is approaching $4 billion.
At the same time, SOL needs to establish support above the $100 area after briefly breaking through it.
A sustained move above $102.88 could strengthen the recovery and open the door to higher levels. Conversely, a rejection followed by a loss of the $88-$90 area could signal that the recent rally is losing momentum.
For now, the combination of record network activity, growing DeFi liquidity, expanding RWA adoption and stronger SOL demand provides a constructive backdrop for Solana.
Conclusion
Solana's latest rally is being supported by more than price momentum. The network processed a record 4.2 billion transactions in July, while DEX volume, stablecoin liquidity and tokenized real-world assets have continued to grow.
SOL's move above $100 adds another bullish signal, although the token now faces resistance around its recent highs.
If network activity and capital flows continue expanding, Solana could remain one of the major ecosystems to watch as the broader crypto market enters its next phase.
