- Solana processed 590 million transactions in a week, outpacing Ethereum, Binance Coin, and Sui combined.
- The REX-Osprey SOL ETF gathered over $72 million in two weeks, reflecting rising institutional interest.
- Meme coin valuations in the Solana ecosystem have doubled since April, now exceeding $12.4 billion.
Solana climbed to $167 this week, marking its highest price level since May 29. The surge came amid strong market momentum and rising demand from both retail and institutional investors. Solana’s rally occurred as trading volume spiked, with a 24-hour figure exceeding $6.17 billion.
Transaction activity on the Solana blockchain soared over the past week. The network processed 590 million transactions, which was a 32% increase from the previous seven-day period. This volume surpassed the combined transaction counts of Ethereum, Binance Coin, and Sui.
Address Growth and Fees See Uptick
Solana increased by 5.3% in active addresses to 24.3 million. Meanwhile, the gained fees on the network rose by 44%, reaching a total of $7.6 million. In more than 30 days, over 2.1 billion transactions were processed by Solana, with increased levels of user participation in the ecosystem.
Interest in Solana-linked investment products continues to grow. The recently launched REX-Osprey SOL + Staking ETF attracted over $72 million in assets within two weeks. The ETF provides exposure to Solana and its staking yields, which currently stand at approximately 7.5%, according to StakingRewards data.
Meme Coin and Stablecoin Growth
Solana’s meme coin sector experienced a sharp increase in valuation. Their combined market capitalization rose from $6 billion in April to $12.4 billion this month. In the meantime, the supply of Solana stablecoin hit the $10.7 billion mark. The overall addresses that hold stablecoins grew by 15 percent to 3.4 million.
The technicals show a favor for further bullishness. The price of Solana has risen above the 50-day moving averages, as well as the 200-day moving averages. It also advanced beyond the 23.6% Fibonacci Retracement mark. The token is trading much above the inclining trend line, which is between April and June, but indicates continuation of the trend of upward movements.
Analysts are watching $187 as the next resistance level, which marked the May high. A move above this could open the path toward $200. The overall market sentiment remains strong, with Solana maintaining momentum across network metrics, price structure, and investor participation.
