Solana Network Surges as Revenue and Stablecoin Supply Hit New Highs

The Solana network has seen significant growth in recent months, despite the token's price remaining below previous highs.

According to data, July was a particularly active month for the network, with revenue and stablecoin supply reaching new milestones. Solana applications generated $82.9 million in revenue during July, marking the highest monthly figure since February.

The network's share of total revenue climbed to 16.5%, making it the third-largest blockchain by that metric and surpassing Ethereum.

Stablecoin supply also reached an all-time high of $15.7 billion in July, indicating continued capital flowing into the ecosystem.