Solana Network Activity Surges with Strong Stablecoin Usage and Growing NFT Minting
On-chain activity and NFT minting are on the rise for Solana, according to recent data. The network has seen strong stablecoin usage, with over 40% of monthly USDC senders using Solana. In fact, Solana accounts for nearly 65% of all on-chain crypto activity, despite representing only 2.38% of total market capitalization.
ETF inflows have also returned to the network, with daily net inflows reaching $8.8 million this week. This is the strongest single-day pull since May 12th and marks a significant increase in interest from investors.
NFT minting has continued to grow on Solana, with Metaplex reporting over 1.5 million Core Assets minted in June and July combined. This growth is driven by various projects, including Candy Digital's MLB collectibles and Beezie's new Claw feature.