On Aug. 4, 2026, Solana (SOL -3.78%) broke its all-time document for exercise on its blockchain, recording 169.9 million transactions, in accordance with knowledge from Blockworks. Breaking that document has occurred repeatedly this yr, even because the coin’s value fell. As of Aug. 27, it is nonetheless 63% beneath its peak value in January 2025.
So is the coin price shopping for now that it is clearly gaining some traction? Or is it higher to promote it as a result of its transaction exercise hasn’t been carefully tied to its value this yr?
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Tokenized shares hit a document $5.8 billion in quantity
One of many components in favor of shopping for Solana on the premise of its rising on-chain exercise is that the composition of its transaction quantity modified a lot this yr. In doing so, it supported a core a part of the bull thesis.
Tokenized shares are basically blockchain tokens which are backed by shares of public firms, and as a group, they’re some of the anticipated drivers of progress on Solana.
The community’s decentralized exchanges reported about $5.8 billion in tokenized fairness quantity within the second quarter, a soar of 114% over the prior quarter, a new all-time excessive for the class. That’s so giant an improve over the identical quarter in 2025 ($1.3 million) that the share of progress is not significant to calculate. In Q2 of this yr, an estimated 95% of on-chain tokenized fairness buying and selling ran by way of Solana, per knowledge from Crypto Briefing, so the chain seems to be capturing the section nearly with out contest.
At the moment’s Change
(-3.78%) $-4.00
Present Worth
$101.64
Key Information Factors
Market Cap
Day’s Vary
$103.45 – $107.35
52wk Vary
$60.40 – $252.78
Quantity
2.9B
Perpetual futures contracts are the second avenue that is creating a lot of site visitors.
In Q2, Solana noticed $148 billion in perpetuals quantity, its most ever. Solana’s exchanges have cleared round $1.1 trillion in cumulative all-time perpetuals quantity as of Aug. 25, a tally that is No. 2 for the class in your complete crypto sector, behind solely Hyperliquid.
Rising exercise is not assured to accrue to cost
The weak hyperlink within the bull thesis is that Solana’s holders are usually not essentially gaining a lot straight from the exercise.
Per DefiLlama, Solana’s network fees fell 44% quarter over quarter in Q2, reaching $41 million. What’s extra, solely a small portion of every transaction is destroyed, which signifies that the coin’s utilization does not actually lower down on its fixed issuance of latest provide. This month, although, the coin’s value does seem like reacting strongly to the brand new highs in exercise, climbing 46% in simply the 30-day interval ending Aug. 27. These highs possible portend extra capital and much more exercise coming to the community, and shortly.
This coin is thus price shopping for now and holding for at the very least the subsequent handful of years. Just be conscious that dollar-cost averaging (DCAing) might be the easiest way to construct your place, because it tends to be pretty risky.
