Solana Maintains User Lead Amid Institutional Futures Surge

Solana has maintained its position as the leading Layer 1 network in terms of daily users and transactions, with a range of 4 million to 7 million daily active addresses. This dominance has been consistent since April, even as a downtrend in late June brought usage closer to 4 million. Ethereum remains stable at around 3 million users, while Base recently surged above that level, indicating a broader adoption across newer networks.

In terms of daily transactions, Solana processes between 90 million to 110 million transactions daily. A single drop in mid-June temporarily reduced this number to under 40 million, but it quickly rebounded. BNB Chain holds the second position, processing between 10 million to 20 million daily transactions. Other networks like BNB Chain, Sui, and TON have shown gradual growth, with each chain nearing or passing 1.5 million active users. Polygon PoS and Avalanche, while trailing behind, maintain a reliable user base.

Institutional engagement in Solana has intensified, aligning with a significant increase in Solana’s CME futures volume. From April through late June, the volume of SOL CME futures moved unevenly, with sharp bursts followed by cooldowns. On June 22, the volume surged past 1.7 million contracts, marking the highest level during that period. This spike occurred as SOL’s price fell toward $130, indicating that traders were positioning heavily into the drop, either to hedge or bet on a reversal. This surge in volume highlights growing leverage-driven activity and renewed participation after a relatively flat stretch in mid-June.

The price of SOL previously ranged from $140 to $170, with momentum peaking around mid-May. Futures activity trailed this rally until new volatility re-entered the market. The increase in volume in June suggests that large funds may now be using Solana’s futures markets more actively to gain Layer 1 exposure. The heightened action during a clear shift in market direction, with volume rising sharply while SOL fell below a key support threshold, indicates high-conviction trades entering the market despite price weakness. At $1.7 million in notional volume, the June 22 spike reflects one of the largest positioning days on record, signaling renewed volatility and opportunity. With trading activity rising across both spot and derivatives markets, SOL remains central to current institutional crypto strategies.