SOL's activity surges in Q4 Solana's network activity surged in Q2 2024. Transaction fees and revenue grew exponentially, exceeding $26 million, a 42-fold increase year-over-year.

This growth reflects a thriving ecosystem, further evidenced by total SOL transaction volume reaching a staggering $292 billion, nearly 7 times higher than the same period in 2023.

Digging deeper into network metrics, more than 15.3 billion transactions were completed in the second quarter of 2024, including voting and non-voting activities. This represents a significant improvement in overall network utilization.

Additionally, the total value locked in the SOL DeFi protocol soared to $3.4 billion, a tenfold increase year-over-year. This surge demonstrates Solana’s growing popularity among decentralized finance applications.

Solana’s NFT industry has also seen explosive expansion. In the second quarter of 2024, more than 98 million new NFTs were minted, a staggering 54x increase compared to the previous year.