The Solana (SOL) network experienced mixed performance in the second quarter of 2025, with some metrics showing strong growth while others faced declines. This report outlines the state of the network based on available data:
SOL regained the $200 level for the first time since late July, indicating renewed bullish momentum. The total value locked (TVL) in Solana reached $14.18 billion, a 60% increase from the lows of the second quarter.
* Application Revenues: Application revenues on the Solana network decreased by 44.2% compared to the previous quarter, although some applications like Axiom experienced tremendous revenue growth of 641.3%.
* Decentralized Finance (DeFi): Solana retained its second position among networks in terms of total value locked (TVL). The TVL in Solana reached $11.028 billion, while the TVL denominated in SOL reached its highest level since 2022, indicating increased user confidence in the ecosystem.
* Real-World Assets (RWA): The total value of real-world assets on Solana reached $390.6 million at the end of the second quarter, an increase of 124.8% year-on-year.
* Staking: 64.8% of the total supply of SOL is staked, reflecting strong community participation.
* Network Revenues: Solana generated network revenues exceeding $271 million in the second quarter, surpassing networks like Ethereum and Tron for the third consecutive year.
In conclusion, while application revenues faced some challenges, Solana demonstrated resilience and strength in other areas such as decentralized finance, real-world assets, and total network revenues, reinforcing its position as a major player in the cryptocurrency market.
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