In brief
- Solana daily transactions fell to 64 million, down nearly 50% from July’s peak.
- Capital rotation to rivals and network friction are key reasons for the decline, one expert said.
- Despite a likely ETF approval Friday, Solana’s price is expected to follow Bitcoin’s lead.
Solana’s daily transactions are on a steady decline, even as the highly anticipated exchange-traded fund deadline arrives, with one analyst suggesting the token’s price action is likely to seek cues from Bitcoin’s directional bias.
The number of daily transactions on the network has plummeted from a peak of 125 million on July 24, 2025, to roughly 64 million, per CryptoQuant data.
The SEC’s final deadline to rule on spot Solana ETF filings from issuers including VanEck, 21Shares, Bitwise, and Franklin is on Friday, according to Bloomberg Intelligence data compiled by Eric Balchunas.
“It suggests a rebalancing away from hype volume.” Shivam…
