Solana Smashes Transaction Records as SOL Surges Past $100

Solana has reached a new milestone in July, processing a record 4.2 billion transactions on its network, according to The Kobeissi Letter. This represents an increase of 13.5% from June and marks a significant growth point for the network.

This surge in transaction volume comes as SOL has gained about 40% in eight days, moving above $100 for the first time since February, as per CoinMarketCap data cited by Kobeissi. The broader crypto market rebound also contributed to this price increase, which strengthened after the U.S. Treasury Department announced larger long-dated bond buybacks.

The growth of tokenized real-world assets on Solana is another significant factor in this record-breaking transaction volume, with a value of around $4 billion, up 11.8% from the previous month. This increase in activity suggests that SOL prices are recovering alongside network usage, rather than solely driven by price gains.