- Solana has surpassed 408 billion transactions and is approaching $1 trillion in total trading volume as it celebrates five years since its mainnet launch.
- Solana’s inclusion in multiple ETF applications by firms like VanEck and Grayscale, coupled with the upcoming launch of CME Group’s Solana futures contracts, signals its increasing acceptance by traditional financial institutions.
March 16th saw the 6th cryptocurrency by market cap officially mark its fifth anniversary since launching its mainnet. It is evident that Solana has maintained a strong presence, achieving remarkable milestones.
The series of advancements has positioned the digital asset as a dominant force in the blockchain and DeFi landscape.
In a celebratory tweet on the X platform, its official X account went full throttle, leaving nothing to the imagination with its impressive accomplishments.
The official account’s post went viral, highlighting over 1,300 validators securing the network, nearly $1 trillion in total trading volume, and a staggering 408 billion total transactions processed.
The Backbone of Solana’s Growth
For Anatoly Yakovenko, 2017 was a very innovative year as Solana was launched, setting out to tackle the scalability trilemma. Solana had cracked the code by achieving the impossible including true decentralization, rock-solid security, and unprecedented transaction speeds.
By combining a unique proof-of-history (PoH) mechanism with proof-of-stake (PoS), Solana has managed to process transactions at lightning speeds while maintaining low fees.
This has put digital assets like Ethereum on the edge, considering Solana has outperformed Ethereum by 26,500% since 2020.
Also, according to Electric Capital’s 2024 developer report, Solana has also seen an unprecedented surge in developer interest. In 2024, it outpaced Ethereum as the leading blockchain for new developers, attracting 7,625 newcomers, which accounted for 19.5% of all new entrants in the industry.
Since its mainnet launch, it has generated over 254 million blocks, reinforcing its robustness and efficiency. According to DeFiLlama, the network now boasts over $7 billion in total value locked (TVL) across its DeFi protocols.
Additionally, the digital asset’s stablecoin market has recorded substantial growth, currently at $11 billion, despite a recent dip from its $12.6 billion peak in February 2025.
Similarly, its market capitalization has fluctuated, reaching a high of $127.5 billion before stabilizing at $65 billion.
Institutional Recognition
Solana has been included in several exchange-traded fund (ETF) applications, reflecting its growing acceptance among traditional financial institutions and investors, including VanEck, 21 Shares, Franklin Templeton, and Grayscale Investments.
Additionally, the institutional embrace of Solana continues to strengthen. On March 17, CME Group is set to launch Solana futures contracts, pending regulatory approval. This move will provide institutional investors with new avenues to hedge against market volatility, further legitimizing Solana as a mainstream digital asset.
As regulatory clarity improves, Solana’s presence in ETFs could further boost its adoption and market demand.
Meanwhile, SOL is at the time of writing, exchanging hands with $127.16 after a 0.85% and 34.92% decline in the past 24 hours and month respectively.
