Solana Transaction Count Hits Record High Amid Crypto Market Recovery

Transaction activity on Solana surged to a record high in July, reaching 4.2 billion transactions as SOL prices rallied by over 40%. This significant increase in network activity comes after a broader expansion of tokenized real-world assets.

RWAs across tracked blockchain networks have climbed above $38 billion, according to RWA.xyz data cited by The Kobeissi Letter. On Solana specifically, the value of RWAs has reached nearly $4 billion, up 11.8% over the past month.

The sharp rally in SOL prices coincided with a broader crypto market rebound following news that the US Treasury Department plans to double certain long-dated bond buybacks to at least $4 billion per operation, pushing yields lower and increasing risk appetite across crypto markets.