Solana Breaks Above $100 for the First Time Since February Amid Record Network Activity

The price of Solana ($SOL) has surpassed the $100 mark for the first time since February, showing a gain of almost 40% in just eight days against the backdrop of a broader cryptocurrency market recovery. This rally coincided with record-breaking network activity: according to data from the analytical resource The Kobeissi Letter, Solana processed 4.2 billion transactions in July — an all-time high for the network. This is a 13.5% increase compared to the previous month's figure.

The growth in the number of network transactions has been continuous for several months: since December, their number has increased by approximately 2 billion, representing a 91% rise. This trend indicates a steady expansion of the user base and increased demand for the blockchain's throughput capacity, rather than a one-time spike in interest.

Tokenized Assets Gain in Volume

Parallel to the growth in transactional activity, the segment of tokenized real-world assets (RWA) is also expanding. Citing data from RWA.xyz, The Kobeissi Letter noted that the total value of distributed RWAs on the tracked blockchain networks has exceeded $38 billion.

Solana is also showing growth in this segment. The value of tokenized real-world assets on the network has approached $4 billion, increasing by approximately 11.8% over the month. This figure places Solana among the leading networks in terms of RWA volume — alongside networks that traditionally lead in this direction.

What Fueled Solana's Rally

The acceleration of $SOL's price growth coincided with a broader cryptocurrency market recovery. A decision by the U.S. Treasury Department to double the size of its long-term bond buyback operations — to at least $4 billion per operation — also played a role. This measure led to lower yields and increased investors' risk appetite, which also reflected on crypto assets.

• 4.2 billion transactions processed by Solana in July — a record for the network
• 91% — growth in the number of transactions since December
• $38 billion — total value of RWAs on tracked blockchains
• $4 billion — value of tokenized assets on Solana

The rise of the $SOL price above $100 coincided with record network activity and the expansion of the tokenized asset segment on Solana. The combination of these factors — the increase in the number of transactions, the growth of the RWA segment, and the easing of monetary conditions due to actions by the U.S. Treasury — formed the backdrop for the asset's current price movement.

AI Opinion

From the perspective of machine data analysis, an increase in the number of transactions alone does not always equate to growth in real user activity. The Solana network has already faced a situation where loud records for throughput were achieved through technical no-op calls: in the summer of 2025, the blockchain claimed a record of 100,000 TPS, but hashtelelegraph.com reported that most of these operations carried no meaningful load. Similar caution is appropriate when assessing the July figure of 4.2 billion transactions — historically, part of such calculations includes validator votes, not just user actions.

An additional risk remains outside the article's frame: in April 2026, the Solana ecosystem suffered from the $286 million hack of Drift Protocol — the largest theft in its history. Whether the growth of network metrics can compensate for such blows to investor confidence will only be shown by time.