Solana (SOL) surpasses 1 billion transactions...Why is the price quiet?

▲ Solana (SOL)/AI generated image

Solana (SOL) has set a new all-time high for network usage, surpassing 1.01 billion non-vote transactions weekly.

According to cryptocurrency media outlet U.Today on August 5 (local time), the Solana network processed over 1.01 billion non-vote transactions in the week ending August 2. This is the highest weekly transaction volume in Solana's history. It has also strengthened its position as one of the most widely used blockchains in the cryptocurrency market.

Transaction volume has steadily increased over several months. In 2025, weekly transaction volume surpassed 800 million multiple times. Since then, it has broken the 1 billion mark for the first time. Unlike past surges that were concentrated on memecoin speculation, recent activity has been observed across decentralized finance (DeFi), stablecoin transfers, token launches, and consumer applications.

High throughput, low fees, and fast transaction finality have also supported the expansion of its use. Developers and users seeking an inexpensive on-chain transaction environment have continued to flow in. As the launch of decentralized applications increased, underlying transaction demand remained high even after the short-term speculative fever cooled down.

Network growth and price trends diverged. On the chart, the price was around $74, below key moving averages. The 50-day Exponential Moving Average (EMA) was around $79, and the 100-day line was around $75. The long-term 200-day line was higher, around $91.

Solana rebounded below $65 in June and then traded sideways between $72 and $76. The Relative Strength Index (RSI) remained around 46, and trading volume decreased. While network transaction volume reached an all-time high, the price failed to break through key technical resistance levels.

[Article Key Summary]

-Solana's weekly non-vote transaction volume exceeded 1.01 billion, reaching an all-time high.

-The increase in transactions was observed across decentralized finance, stablecoin transfers, token launches, and consumer applications.

-Despite the surge in network activity, the price traded sideways below key moving averages.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*