Solana Transactions Hit Record 4.2 Billion as SOL Jumps 40%

Solana pays validators and stakers partly through newly issued SOL, making its inflation schedule central to network security, staking yields and token-holder dilution. Issuance growth was already designed to slow each year until inflation reached a 1.5% floor. The latest ballot matters beyond supply: it was Solana’s first binding, stake-weighted, network-wide governance vote, giving validators and delegators a direct say over core economic rules while establishing a formal framework for future decisions.

On Aug. 28, SGP-0002 cleared the required two-thirds supermajority with 67.0% support after a Kraken-linked validator switched sides near the deadline. The measure doubles annual disinflation to 30% from 15%, bringing forward the 1.5% inflation floor to 2029 from 2032 and cutting projected issuance by about 18.9 million SOL over six years. SGP-0003, which could have raised daily burns to 9,000 SOL from about 650, failed with 53.9% support. SOL had gained roughly 44% in August and moved above $105 on Aug. 27, its strongest month since 2024.

Solana is a public blockchain designed for high-speed, low-cost transactions, and SOL is its native token. Backpack’s recent launch of tokenized stock trading, alongside renewed activity in memecoins and prediction markets, has boosted DeFi usage and stablecoin liquidity. With the broader altcoin market weakening, SOL’s independent rally has become a key test of whether onchain demand can be sustained.

Cumulative transfers of tokenized stocks on Solana surpassed $10 billion on June 23, 2026. RWA.xyz data showed that the value of tokenized assets on the network rose to $3.5 billion on July 1. SOL touched $83 on July 3, marking a 30-day high, but Laevitas data showed that the annualized futures funding rate fell to 3% from 11% two days earlier, leaving the market cautious about a break above $90.

Solana’s native token, SOL, is the core asset used for onchain transactions, staking and decentralized finance activity on the network. Recent interest in AI has fueled trading in tokenized stocks, while expectations of ecosystem airdrops have added buying pressure. However, the rally’s durability remains uncertain unless the rebound is matched by gains in total value locked and transaction activity.

SOL recently climbed back above $72, driven mainly by enthusiasm for AI-related tokenized stocks and expectations of airdrops. However, the report did not provide a specific statistical date or institutional data. Over the same period, total value locked on Solana declined and decentralized-exchange trading volume remained low, suggesting that capital inflows and user activity had not kept pace with the price increase.

Tokenized stocks map traditional equity interests onto blockchains, enabling round-the-clock trading and faster settlement. Solana has emerged as the leading network for such assets because of its low costs and high throughput. DefiLlama data showed that Solana applications generated $82.84 million in revenue over the past 30 days, ahead of Hyperliquid's $67.43 million and Ethereum's approximately $51 million. The figures indicate that onchain activity has not weakened in step with the token's price.

Solana Floor said tokenized-stock trading volume on Solana hit a record $1.29 billion in the week ending June 21, 2026, accounting for 95% of volume across all chains and exceeding the previous full month's total. Activity was driven mainly by SPCX, a SpaceX IPO token. When the report was published on June 22, SOL had fallen 77% from a high of about $295 to $60. Trader Ardi viewed $45–$60 as an accumulation zone, while Trading Stable founder Ryan Clark said a return to $90 would offer a clearer signal.

Stablecoins underpin dollar liquidity for transactions, lending and cross-border payments on Solana. Supply fell as low as $2 billion after FTX collapsed in November 2022. The US GENIUS Act established a regulatory framework on July 18, 2025, while adoption by Circle, PayPal and Stripe has gradually expanded the use of stablecoins beyond speculation into payments and asset tokenization.

Stablecoin supply on Solana surpassed $17 billion on March 19, 2026, setting an all-time high. The latest tally was about $17.48 billion, including $12.64 billion in Circle’s USDC, or 72.3%, and roughly $2.74 billion in Tether’s USDT, or 15.7%. PayPal’s PYUSD has also launched on Solana, indicating continued inflows of institutional capital.