Solana’s Weekly Transaction Count at Highest in 2 years

The 7-day average of non-vote transactions on Solana is at 38.37 million, the highest in 2 years.

The transaction count on Solana has reached its highest weekly average in about two years, according to data from TheBlock. The 7-day average of so-called non-vote transactions on Solana stood at 38.37 million as of June 18.

Non-vote transactions refer to SOL transfers between Solana accounts, smart contract executions, and decentralized exchange (DEX) trades. Elsewhere, vote transactions are associated with votes by validators on the state of the network.

Solscan data shows that the daily number of non-vote transactions has maintained near 40 million since the beginning of June.

On June 12, Solana recorded its third-highest daily count of active accounts, with over 1.23 million active wallets.

Interestingly, although the total number of active wallets did not match the performance seen in late May, Artemis data indicates that the number of returning addresses reached the record high of 1.2 million again on June 17, after initially setting this record in March of this year.

Elsewhere, data shared via Dune shows that the weekly number of traders on Solana-based decentralized exchanges (DEXs) hit a record high earlier in June, hitting the 3 million mark.

DefiLlama data shows that the total value locked (TVL) in Solana DeFi projects maintains above $4 billion as of this writing. At the end of May, TVL on Solana almost touched the $5 billion mark when it rose to the highest level since February 2022.

On May 22, TVL across Solana DEXs alone hit a record high at $1.93 billion before correcting to the current level of $1.68 billion.

The largest DEX on Solana is Raydium, which accounts for about two-thirds of TVL and trading volume among Solana DEXs.

All in all, activity on Solana seems to be reviving in the May-June period following several weeks of consolidation.

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