Solana's activity has remained high over the past four weeks. Last week, the network processed a record number of non-vote transactions—1.3 billion—indicating a revival of activity related to meme token trading.
In August, Solana's transaction activity surged, reaching a series of record highs. The weekly count of non-vote transactions regularly exceeded the 1 billion mark.
The increase in Solana's activity is driven by approximately 2.6 million daily active users who are conducting more transactions. As a result, Solana also reached a multi-year high in its daily inflation rate, hitting 1.53% as of August 23. This is the highest inflation rate for Solana since the beginning of 2025.
The primary sources of transactional activity for Solana are the most widely used applications. Daily transaction fees for Solana applications quickly respond to improved cryptocurrency market sentiment and renewed attempts to launch meme tokens. exceed $10 million , and the monthly revenue from applications exceeds $250 million. The recent surge in transactions shows that
The increase in Solana has also enhanced the network's competitiveness. Fees for transaction acceleration and tips charged by the network to expedite operations once again surpassed $1 million per day, nearing the highest level in the past six months. A significant portion of the increased revenue is allocated to priority fees.
Solana's Activity Reflects Increased Application Usage Driven by Fear of Missing Out (FOMO)
One of the key factors driving Solana's activity growth is the FOMO application, another platform for launching meme tokens. The application is fueling a new wave of mass adoption and activity for meme tokens.
Despite overall losses for most meme token traders, the application still provides opportunities for short-term profits and strengthens one of Solana's core use cases.
The FOMO application is gaining popularity by allowing users to copy trades made by influencers, which also encourages the emergence of new meme token developers. The application is now seeking its first trading influencer with more than 1 million followers.
In addition to the Fear of Missing Out (FOMO) effect, Pump.fun has also increased its revenue. The meme token platform and decentralized exchange (DEX) has once again surpassed Hyperliquid in daily fees. Currently, Pump.fun's daily fees exceed $4.9 million, making it the leading application on the blockchain, excluding the stablecoins USDT and USDC.
At the same time, meme token trading has undergone fundamental changes, shifting towards a more aggressive peer-to-peer (P2P) mode instead of building holder communities.
Solana Prepares for Reduced Inflation and Constitutional Changes
Beyond non-vote transactions, Solana is preparing for a series of significant protocol-level changes. The Solana Constitution formalizes governance rules to grant individual users more rights and prevent governance attacks by overly influential entities.
The Solana Constitution allows users to vote dent their validators. Most decisions will be made by a qualified majority to avoid influence from small factions. Proposals will also undergo a detailed five-stage process to ensure community participation and understanding of the changes.
The next major decision, to be voted on by Thursday, August 27, concerns reducing emissions over the next six years.
A third proposal involves resource fees and inclusivity, which could potentially increase the amount of $SOL being burned. Faster disinflation and an increase in the amount of $SOL burned could improve the overall position of $SOL. As of August 24, $SOL was trading around $96.19, its highest level since May.
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