Solana onchain transactions hit 4.2B in July, up 13.5% MoM

Solana onchain activity reached a record 4.2 billion transactions in July: up 13.5% month over month and up 91% versus December 2025, an increase of 2 billion transactions. The rise coincided with an 8‑day, 40% rally in SOL to its highest level since February 3. The broader crypto market added $580 billion in market cap since August 16. Source: The Kobeissi Letter.

Key metrics:
- Total Solana onchain transactions in July: 4.2 billion
- Month-over-month change: +13.5%
- Change versus December 2025: +91% or +2 billion transactions
- SOL price move: +40% in 8 days, highest since February 3
- Crypto total market cap change since August 16: +$580 billion

Drivers:
- Tokenized assets: RWA market cap above $38 billion
- Ecosystem activity: Jupiter processes 71% of DEX aggregator volume on Solana

Context:
- Onchain trading activity returned to record highs on Solana, aligning with price appreciation and increased participation across tokenized assets and Solana-native aggregation.