Solana Achieves Over 400 Billion Transactions and Nears $1 Trillion Milestone in Only Five Years

Solana, the layer-one blockchain platform, recently marked the fifth anniversary of its mainnet launch on March 16, 2020.

In a post shared on its official X account, the network highlighted its achievements, which include over 1,300 validators, nearly $1 trillion in trading volume, and more than 408 billion total transactions on the Solana blockchain.

https://twitter.com/solana/status/1901279678620749997?s=46&t=nznXkss3debX8JIhNzHmzw

Founded in 2017 by Anatoly Yakovenko, Solana (SOL) aimed to tackle the key issues facing blockchain technology. The network seeks to achieve an optimal balance between scalability, security, and decentralization.

With the integration of proof-of-stake and Yakovenko’s innovative proof-of-history system, transaction processing is significantly accelerated, enabling Solana to grow while keeping costs low.

Since its mainnet launch in March 2020, Solana has generated over 254 million blocks. The network has established itself as a formidable player in decentralized finance (DeFi), boasting over $7 billion in total value locked across its protocols, according to data from DeFiLlama.

Currently, the market for Solana’s stablecoins has reached $11 billion, having declined from its peak of over $12.6 billion in February 2025. Likewise, Solana’s market capitalization, which once hit $127.5 billion, now stands at $65 billion.

Developer interest in Solana has surged significantly, surpassing Ethereum as the most popular blockchain among new developers in 2024. According to Electric Capital’s 2024 developer report, Solana attracted 7,625 new developers in the past year, which represents 19.5% of all new market entrants.

On March 17, CME Group plans to launch Solana futures contracts pending regulatory approval. These futures will help investors hedge against price volatility, signaling that Solana is gaining recognition as a valuable asset in the cryptocurrency landscape.

Additionally, Solana has been included in several exchange-traded fund applications, further indicating its increasing mainstream acceptance and potential for future growth.