20 July 2026
Solana (SOL) Surges as DApps, DeFi, and Stablecoins join the Network
Solana price is constantly surging towards new highs as the number of DApps, DeFi projects and stablecoins build platforms on the network increases.
The influx of institutional investors and the rise of decentralized finance (DeFi) has been a boon for the entire cryptocurrency sector. However, it has also highlighted several limitations that many blockchain networks have encountered with surges in activity and the need to scale.
Higher fees and slower transaction times on the Ethereum (ETH) network have left the door open for the emergence of new layer-1 solutions and Solana (SOL) is one such project that has been gaining traction recently.
Data from Cointelegraph Markets and TradingView reveals that the price of SOL has increased 195% over the previous month, soaring from a low of $12.19 to a new all-time high of $36.10, recording $1.4 billion in trading volume.
Similar to how Ethereum surged in 2017, Solana’s strong performance over the past month spiked by launching several projects on the SOL blockchain like DeFi protocols to pump and dump airdrops that attracted speculators to Solana’s exchange.
The Network’s ability to handle a giant load has also made the platform a cross-chain destination for several projects like Civic (CVC) and the popular stablecoins USD Coin (USDC) and Tether (USDT). Solana network can also process over 65,500 transactions per second (TPS), which is much faster than Ethereum’s current rate of 18.3.
Prospects for the Network gained terrific momentum in early April when the Solana-based Sollet wallet released its Chrome extension offering the Solana ecosystem functionality similarly to as MetaMask works for Ethereum. The Solana protocol utilizes a proof-of-history (PoH) consensus and the underlying proof-of-stake (PoS) consensus of the blockchain, making it easier for token holders to earn a yield of their SOL tokens along with their participation.
The increasing number of cryptocurrency wallets supporting SOL is also a sign that the project is garnering more attention. The latest integration with Phantom wallet has also brought fresh energy to the project as it will offer the creation of a robust NFT ecosystem on Solana.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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