Solana achieved a historic milestone by processing over 1 billion non-vote transactions in a single week, marking the first time the network has crossed this threshold, according to AMBCrypto reports. This achievement reinforces Solana's ability to sustain high throughput at scale and demonstrates the effectiveness of the Alpenglow upgrade, which reduced finality to 100-150 milliseconds, allowing instant transaction confirmation and moving closer to Web2-level responsiveness. Solana currently processes nearly 1,500 transactions per second with finality settling in around 12.8 seconds versus 12 minutes 48 seconds on Ethereum, representing a 98.3% reduction in confirmation time. The milestone underscores Solana's execution strength and suggests the Alpenglow upgrade is already translating into higher on-chain throughput, though the market has yet to fully price in these network improvements.
Solana's total value locked (TVL) climbed to $5.11 billion on July 4, marking its highest level since early June and representing a 10% increase from $4.66 billion on June 26, according to CoinDesk reports. This surge in TVL coincided with steady buying from long-term holders, with holders who have kept SOL for one to two years growing their share of supply from 14.64% to 15.60% since June 29. The combination of rising TVL and stablecoin supply around $15.6 billion suggests real money is backing the current move, with the stablecoin supply remaining higher than late June levels and providing potential funding for continued buying if demand holds. On the 4-hour chart, the Supertrend indicator continues to hold below price near $78.30, with Chaikin Money Flow staying slightly above zero, indicating modest buying pressure remains intact.
As Solana's execution capabilities become established, the focus is shifting toward improving market efficiency and capital deployment rather than just processing transactions quickly. Projects like Jito are building the "market layer" to enhance liquidity, transaction execution, and capital efficiency without changing the underlying execution layer, as noted in a recent post on X. Circle has already minted more than $64 billion in USDC on Solana, highlighting the network's growing role in stablecoin settlement and liquidity depth. However, SOL remains one of the more inflationary major Layer 1 assets with an annualized supply growth rate of 3.76%, compared to Ethereum at 0.83% and Hyperliquid at 0.14%, putting SOL at a relative disadvantage despite improving network fundamentals. The maturation of market layer and tokenomics could determine whether SOL's valuation begins to reflect the network's underlying execution strength.
Solana's market structure shifted dramatically after the SuperTrend indicator generated its first 3-day buy signal since October 2025, according to reports from AMBCrypto. This technical development emerged after months of persistent downside pressure that followed the previous sell signal, which had preceded a 74% correction. The latest signal suggested that bearish control had weakened considerably as buyers reclaimed important price levels, establishing conditions that supported a possible trend reversal rather than extending the previous downtrend. On the 4-hour chart, the Supertrend indicator continues to hold below price near $78.30, with Chaikin Money Flow staying slightly above zero, indicating modest buying pressure remains intact.
Despite broader market weakness, U.S.-listed spot Solana ETFs attracted $5.75 million in net inflows between June 29 and July 2, contrasting sharply with Bitcoin and Ethereum fund outflows, as reported by CoinDesk. Spot Bitcoin ETFs recorded net outflows of $527 million during the same period, extending their losing streak to eight consecutive weeks, while spot Ethereum ETFs also registered net outflows totaling $13.67 million. This divergence highlights growing institutional confidence in Solana's recovery prospects, with investors continuing to add exposure despite weakness across the wider digital asset market. XRP ETFs recorded $17.19 million in net inflows, while HYPE ETFs added another $4.32 million during the reporting week.
