Data: Solana July On-Chain Transaction Volume Hits Record 4.2 Billion

According to The Kobeissi Letter, Solana's total on-chain transaction volume reached a record 4.2 billion in July, up 13.5% month-over-month. Compared to December 2025, transaction volume increased by 2 billion, a gain of 91%. During the same period, Solana's native token SOL rose 40% in 8 days, hitting its highest level since February 3.

The rise in on-chain activity is also driven by tokenized assets, with the current RWA market cap exceeding $38 billion. Multiple on-chain platforms have contributed to this growth, with Jupiter currently handling 71% of DEX aggregator volume on Solana. Since August 16, the total cryptocurrency market cap has increased by $580 billion, and on-chain trading activity has returned to historical highs.