Grayscale: Apps Drive Solana to 100M Daily Transactions

Grayscale released a report showing Solana averaged more than 100 million daily transactions year-to-date, about 1,200 transactions per second, roughly 4.3 million unique daily users and approximately $100 million in cumulative transaction fees so far this year. The firm reported the network supports more than 1,000 decentralized applications.

Grayscale framed those figures as linked to applications running on Solana, which the report describes as the settlement layer for those apps. Grayscale’s Head of Research Zach Pandl wrote: “This is all driven by a suite of applications focused on areas such as decentralized finance, social trading, and decentralized infrastructure.”

The report highlighted Raydium as a key decentralized exchange on Solana. Grayscale reported that Solana-based decentralized exchanges have traded more than $360 billion in volume year-to-date.

Grayscale identified Pump.fun as a memecoin launchpad and social trading app with about 1.3 million monthly active users and estimated daily revenue of about $690,000.

On infrastructure, the report pointed to Geodnet, a project that collects location data to deliver centimeter-level positioning accuracy. Grayscale described that data as usable by autonomous vehicles, drones and robotics.

The report included an investment statement linking SOL to the network’s activity and added: “Solana hosts a thriving ecosystem of applications generating meaningful on-chain activity, with SOL offering investors exposure to the network’s continued growth.”

Grayscale also named Ethereum, Solana, BNB Chain and Canton Network as protocols it sees positioned to benefit from clearer U.S. digital-asset rules. The report said continued expansion of the application ecosystem will influence future on-chain activity and the investment case for SOL.