Solana (SOL) has emerged because the fastest-growing Layer 1 blockchain of 2025, surpassing Ethereum (ETH) in developer development and gaining floor throughout DeFi, funds, and AI, in keeping with 21Shares’ newest State of Crypto report.
Within the first two months of the 12 months alone, Solana processed $364 billion in quantity, greater than Ethereum and Coinbase, and now helps over 100 million month-to-month lively customers.
With common charges underneath $0.01 and sub-second transaction finality, Solana’s high-speed, low-cost structure is driving adoption from each crypto-native customers and main establishments.
Visa, Shopify, and Stripe are actually settling stablecoin funds on Solana, whereas PayPal and First Digital maintain over $100 million in Solana-native belongings.
Stablecoin provide on the community has jumped 600% year-over-year, exceeding $12 billion as of the top of the primary quarter.
DeFi, memecoins, and AI push
Solana’s DeFi ecosystem has grown to $8 billion in whole worth locked, up 100% from 2024, and now accounts for 16% of Ethereum’s market share, narrowing a as soon as 20:1 hole to five:1.
It hosts three of the highest 10 DEXs by quantity and ranks third globally in stablecoin market cap.
Memecoins stay a key driver of exercise, contributing greater than half of on-chain quantity. The Official TRUMP token launched earlier this 12 months generated $30 billion in trades over 48 hours, quickly pushing Solana’s throughput to ranges rivaling Nasdaq.
Past hypothesis, the community is quickly increasing into infrastructure and AI. Solana leads all chains in DePIN market cap at $4.2 billion, supporting initiatives like Helium, Hivemapper, and Render Community.
Solana additionally dominates the crypto-AI phase, with 66% of AI agent exercise and rising adoption of instruments like ElizaOS and Arc.
Valuation fashions counsel vital upside
The report highlights rising issues round validator centralization, speculative exercise, and inflationary strain following the top of transaction payment burns.
Nonetheless, the report argued that Solana stays basically undervalued. A reduced money move mannequin initiatives SOL’s truthful worth between $520 and $1,800, relying on development charges, far above its present value of round $150.
If Solana captures simply half of Ethereum’s market cap, it might see continued development in funds, AI, and institutional adoption.
The report concluded that Solana is positioned as the first Layer 1 competitor and the spine of next-generation blockchain infrastructure.
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