Solana sets record with 4.2B onchain transactions in July (+13.5% MoM, +91% YoY), driven by RWA growth ($38B market cap) and SOL rallying 40% in 8 days.
DeFi & Yields ·
Solana processed 4.2 billion onchain transactions in July, marking a record high and representing a 13.5% increase from the prior month. The figure reflects a 91% jump compared to December 2025's 2 billion transactions. This surge coincides with SOL rallying 40% over eight days to reach its highest level since February 3rd, as well as growth in tokenized assets, with the real-world asset market cap now exceeding $38 billion.
Several onchain platforms have amplified activity on the network. Jupiter, a DEX aggregator, now captures 71% of aggregator volume on Solana, positioning it as a central venue for the network's trading ecosystem. Beyond Solana, the broader crypto market has gained $580 billion in market cap since mid-August, reflecting renewed momentum across digital assets.
The confluence of price appreciation, RWA expansion, and platform consolidation suggests multiple drivers of activity rather than a single catalyst. However, the relationship between these factors—whether price moves are pulling in volume or vice versa—remains unclear from the available data.