During June 25 to July 2, Solana showed solid onchain performance, setting new records in network usage metrics. Even though a memecoin governance issue made news, record non-vote transactions, increased tokenized asset volumes, and new RWA integrations highlighted ecosystem growth and its value. Positive ETF flows provided institutional backing despite a volatile overall sentiment.
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Solana (SOL) opened the week of July 2 – July 9 near $78 and climbed toward the $81-$82 area by mid-week. It tested highs near $83 before pulling back slightly, holding above recent support in the low $70s and closed the week at around $78. It hit a weekly high of about $83.6 on July 4.
The pair showed relative strength against BTC and ETH as network activity surged. Although general market pessimism, ETF inflows and onchain measures offered positive outcomes.
In the week ending July 6, Solana completed more than 1B non-vote transactions. It’s the network’s first time crossing this threshold, exceeding the previous record of 962.4M. Weekly active wallets climbed considerably to 29.7M and the network reclaimed its top spot in daily revenue.
This coincides with record tokenized asset performance and institutional shifts. According to data researcher Sam Schubert, Q2 tokenized asset spot volume was $5.77B, more than doubling Q1 totals, with Raydium accounting for the largest share.
The same day, Securitize appeared on the NYSE under the ticker SECZ and tokenized its own shares on Solana. This contributed to the quarter’s tokenized volume rise by introducing a high-profile, issuer-native tokenized equity to the ecosystem on the first day of its public listing.
📈DATA: In just two weeks, @Solana's weekly active users surged from 16.8 million to 29.7 million, an increase of 12.9 million wallets (+76.8%). pic.twitter.com/bbHWaJfitL
— SolanaFloor (@SolanaFloor) July 6, 2026
Regulated channels helped institutional demand signals to stay positive. In the most recent reported week, US spot Solana ETFs had net inflows of around $5.75M, bringing their cumulative net assets close to $1B.
The submissions by VanEck and 21Shares maintained SOL in the institutional product pipeline. As of early July, VanEck’s VSOL recorded net staking yields of about 4.41%. While there were no significant new corporate treasury SOL disclosures, RWA integrations like Securitize and Spiko increased the practical onchain institutional usage.
High-throughput trading, stablecoins, and tokenized assets saw concentrated capital and user growth in Solana’s application layer. The record number of non-vote transactions boosted DEX activity and overall volumes, bringing total value locked (TVL) up on DefiLlama to over $5.11B, up from $4.66B in late June. This growth was a result of consistent DeFi use linked to faster and cheaper execution.
The supply and circulation of stablecoins significantly rose, with Circle minting almost $3.5B in USDC on Solana over the course of the week. This contributed to payments, trading liquidity, and overall ecosystem inflows.
The activation of Solana’s official onchain governance system, known as Solana Governance Proposals (SGPs), was one of the week’s notable protocol developments. Stake-weighted proposals can now be submitted and voted on by validators and delegators. Yet, new proposals have to fulfill a 100,000 SOL threshold.
Retail trade volumes and memecoin boosted overall activity, though the sector also experienced a setback. BonkDAO’s treasury was depleted by about $20M after an attacker purchased tokens to approve a malicious governance proposal and transfer assets. The DAO confirmed the incident and is collaborating with the Solana Foundation and exchanges on the next steps for action.
This week, Solana and its network proved to be resilient with record non-vote transactions, high Q2 tokenized volumes, and new institutional integrations. After hitting higher levels, SOL closed close to $78, with onchain demand acting as a buffer against more general pressures.
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