Solana Hits 400B Transactions & Nears $1T Volume in 5 Years

Solana, the layer-one blockchain platform, marked five years since its mainnet debut on March 16, 2020.

To commemorate the milestone, the network posted on its official X account about its accomplishments, which include over 1,300 validators, approximately $1 trillion in trading volume, and over 408 billion total Solana transactions.

Solana sol-4.24% Solana was founded in 2017 by Anatoly Yakovenko to address the primary challenge facing blockchain technology. The network aims to strike the right balance between scalability, security, and decentralization.

When combined with proof-of-stake, Yakovenko’s proof-of-history system speeds up transaction processing. As a result, Solana has grown while maintaining low costs.

More than 254 million blocks have been generated by Solana since its mainnet went live in March 2020. Since then, the network has grown to be a major force in decentralized finance, with over $7 billion in total value locked in its protocols, according to DeFiLlama data.

Meanwhile, Solana’s stablecoin market has fallen to $11 billion, from a high of nearly $12.6 billion in February 2025. Similarly, its market capitalization, which peaked at $127.5 billion, is currently $65 billion. 

Developers’ interest in Solana has also grown dramatically. It surpassed Ethereum as the most popular blockchain for new developers by 2024. According to Electric Capital’s 2024 developer report, Solana drew 7,625 new developers last year, representing 19.5% of all new entries in the industry.

Solana futures contracts will be introduced by CME Group on March 17, subject to regulatory clearance. These futures, which are designed to help investors protect themselves from price volatility, show that Solana is becoming a more popular commodity in the cryptocurrency market.

Furthermore, Solana has been included in multiple exchange-traded fund proposals, demonstrating that it is gaining popular acceptability and potential for expansion. 

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