Solana (SOL) trading activities ran sharp in the second quarter, while the core infrastructure statistics of the network strengthened over several dimensions.
By one August 15 report Messari decreased the total application income generated on the network by 44.2% quarter-over quartaal to $ 576.4 million from $ 1.0 billion.
In addition, the average daily spot -decentralized Exchange (DEX) volume fell by 45.4% to $ 2.5 billion, with eternal trade volumes that fell 28.5% daily to $ 879.9 million. The decrease in income stems from reduced memecoin speculation that led record trade volumes in the first quarter.
Applications that depend on trading costs, including most DEX platforms, booked lower quarterly income while market participants reduce speculative activity.
Network fundamentals show resilience
Despite the decrease in speculative activity, various on-chain statistics identify strong foundations for Solana.
The total value locked (TVL) in Defi protocols on the network grew by 30.4% quarter-over quartaal to $ 8.6 billion, so that Solana’s position was maintained by TVL after surpassing Tron in November 2024.
The app transition ratio rose to 211.6% compared to 126.5%, indicating that applications won $ 211.60 in income for every $ 100 spent on transaction costs.
The penetration of the liquid deployment rose to 12.2% of SOL range of 10.4%, so that extensive Defi applications were built on yield-bearing sol possible. The total vast value rose by 25.2% to $ 60 billion, whereby validator decentralization improves modest as the nakamoto -coefficient reached 21.
The nakamoto -coefficient measures blockchain -decentralization by calculating the minimum number of entities that is necessary to control more than 50% of network sources and compromise security.
In addition, Anza Alpenclow announced, a consensus protocol again designed aimed at Sub-150 Milliseconde Finality. The proposal represents a 100-time improvement compared to the current confirmation times of 12.8 seconds.
The upgrade eliminates voice transaction costs and streamlining customer activities for smaller validators.
Institutional adoption accelerates
The sec approved Rex Osprey’s Solana strike ETF (SSK) on 27 June, Marking the first Setting-US-approved Crypto-Exchange Fund (ETF).
However, the product functions outside of the traditional sec-registered location ETF structures, which provides sol-exposure through derived instruments instead of keeping the digital actual assets directly. Nine other companies have submitted applications to launch Spot Solana ETFs, with approval decisions that are expected by October 2025.
Network use remained stable with non-vote transactions that increase by 4% to 99.1 million daily, while the payers of the reimbursement fell 1.4% to 3.9 million.
The market capitalization of SOL grew by 29.8% to $ 82.8 billion, so that sixth place arranged among cryptocurrencies.
The report concluded that the quarter has demonstrated the capacity of Solana to maintain the development of infrastructure and institutional interest rate, regardless of speculative trade cycles.
