Solana marks 5 years since launch
Solana celebrates 5 years with $410B in transactions and $1T in DEX volume.
Solana, the blockchain platform that launched in 2020, has marked its fifth anniversary with impressive operational milestones.
Over the past five years, the network has processed nearly $410 billion in transactions and is supported by a network of just over 1,300 validators. Its decentralized exchange (DEX) trading volumes are also staggering, approaching $1 trillion.
Co-founder Raj Gokal took to X on March 16 to applaud the relentless efforts of developers and founders who have built the ecosystem, and he encouraged the crypto community to launch their own tokens. “If we could launch then, you can launch now,” Gokal remarked, reflecting on the pandemic era when many projects were shelved due to global lockdowns. Meanwhile, co-founder Anatoly Yakovenko extended greetings to Solana enthusiasts, emphasizing that the network’s progress aligns with its original vision and strong technical foundations.
Market Performance and Current Challenges
Despite its robust underlying infrastructure, Solana’s native token, SOL, has faced downward pressure in recent months. Following a decline from $180 in February, SOL’s price has slid to current levels below $140, with the token trading at approximately $126.83 after a 5.67% drop in the past 24 hours.
The futures market shows similar signs of bearish sentiment, with negative funding rates over the past three days and short sellers paying to maintain positions—a signal of tepid demand for leveraged longs. Additionally, recent data indicates that accumulation among large holders is slowing, as the number of wallets with at least 10,000 SOL fell slightly, suggesting some investors may be reducing their exposure.
Bright Prospects Amid Recovery Forecasts
Industry analysts remain optimistic about Solana’s recovery potential. Forecasts suggest that SOL could surge by 10% over the next month, with expectations that it might set a new record by year’s end. Long-term projections vary, with some experts estimating SOL could trade above $300 by September 2025, while others anticipate an average price range between $235.73 and $311.32, translating to a return on investment of at least 133%.
With over $8.5 billion in total value locked in DeFi protocols on Solana and its fees and revenues more than double those of Ethereum, the ecosystem’s fundamentals appear strong. As investors watch for renewed buying activity, Solana’s progress remains a key indicator of innovation and resilience in the rapidly evolving blockchain landscape.
Recently we wrote, that Solana’s highly anticipated governance vote on reducing the network’s inflation rate has ended in failure, leaving its staking reward structure unchanged.
