Solana Hits Over 400B Transactions and Nearly $1T in Volume as It Celebrates 5-Year Milestone

Solana recently celebrated its fifth anniversary since the launch of its mainnet on March 16, 2020. Over the years, Solana has made remarkable progress, crossing over 408 billion total transactions and approaching $1 trillion in trading volume. The network has grown significantly, with more than 1,300 validators now supporting it.

Founded in 2017 by Anatoly Yakovenko, Solana set out to address the key challenges faced by blockchain technology, including scalability, security, and decentralization. By using Proof-of-History in conjunction with Proof-of-Stake, the platform has managed to scale efficiently while maintaining low transaction costs.

Since its mainnet launch, Solana has seen explosive growth, including the generation of more than 254 million blocks. It has become a major force in the decentralized finance (DeFi) space, with over $7 billion in total value locked (TVL) across its protocols. Solana’s stablecoin market has also seen growth, reaching $11 billion, though it has slightly decreased from its February 2025 peak.

Solana has also become a favorite among developers, surpassing Ethereum as the top blockchain for new developers in 2024. Solana attracted 7,625 new developers in 2024, accounting for nearly 20% of all new blockchain developers.

To further solidify its standing, Solana will soon introduce Solana futures contracts through the CME Group, pending regulatory approval. These futures contracts are expected to help investors hedge against price swings, signaling the increasing mainstream acceptance of Solana.

Solana’s ecosystem continues to grow, with its market cap standing at $65 billion, down from a peak of $127.5 billion. Despite this, the network’s increasing developer interest and new financial products point to a bright future for the platform.