Solana July Transactions Hit Record 4.2 Billion as SOL Jumps 40% in Eight Days
Summary
- Solana's 4.2 billion transactions in July hit a record high, up 13.5% from the previous month.
- The value of $4 billion in tokenized real-world assets on the Solana network rose 11.8% in a month.
- Solana's price jumped 40% over eight days and broke above $100, with the rally accelerating alongside a recovery in risk appetite.
Forecast Trend Report by Period
Solana processed a record 4.2 billion transactions in July, while the SOL token jumped 40% in eight days to retake the $100 level.
Cointelegraph reported on August 25 that on-chain data released by The Kobeissi Letter showed Solana's July transaction count rose 13.5% from the previous month. It was also up about 2 billion transactions, or 91%, from December last year.
The market for tokenized real-world assets, or RWAs, also expanded rapidly alongside the surge in network activity. Data from RWA.xyz cited by The Kobeissi Letter showed tokenized real-world assets in circulation across major blockchain networks exceeded $38 billion. On the Solana network alone, tokenized real-world assets totaled about $4 billion, up 11.8% from a month earlier.
SOL has climbed about 40% over the past eight days, breaking above $100 for the first time since February, according to CoinMarketCap data. The advance coincided with a broader rebound in the crypto market. The rally accelerated after the U.S. Treasury said it would double the minimum size of its long-term Treasury buybacks to $4 billion per operation, pushing yields lower and reviving appetite for risk assets.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.