Solana's Record Network Usage Fails to Boost Price Amid Sideways Consolidation
Solana's network usage has reached an all-time high, processing over 1.01 billion transactions in a week for the first time on record. This milestone was achieved in the week ending August 2, according to data from U.Today.
The increase in transactions is not a sudden trend but rather a sustained growth that started in 2025. Solana's weekly transaction volume has consistently remained above 800 million per week before finally surpassing the 1 billion mark. This surge in activity can be attributed to the network's technical strengths, including high throughput, low fees, and fast transaction finality.
The record-breaking network usage is a testament to Solana's growing adoption across various sectors, including DeFi, stablecoin transfers, token launches, and consumer applications. However, despite this strong fundamental performance, the price of SOL has stalled, currently trading around $74. The 50-day exponential moving average is around $79, while the 100-day exponential moving average is near $75, exerting downward pressure on the price.