As of July 2025, the dollar value of one Solana (SOL) is $86.50 (real-time data from CoinMarketCap). Compared with the same period in 2024, this price has risen by more than 140%. If we look back to the bear market low of $8 in 2023, the current exchange rate of 1 solana to usd has increased nearly tenfold. This appreciation is backed by clear data: the total value locked (TVL) of the Solana network has soared from $410 million at the beginning of 2023 to the current $12.1 billion (DeFiLlama statistics), an increase of 2,950%. The key driving force comes from the explosive growth of on-chain applications. For instance, the monthly trading volume of the decentralized exchange Jupiter exceeded 57 billion US dollars in Q2 2025, accounting for 63% of the total trading volume in the Solana ecosystem (StepData data panel), directly boosting the demand for SOL.
Technical performance constitutes the underlying logic of SOL’s value. Solana’s measured transaction processing speed reached 65,000 transactions per second (Solana Foundation stress test report), with an average block time of only 400 milliseconds, keeping the cost per transaction stable at $0.00025. After the Solana Firedancer upgrade in May 2025, the load capacity of validation nodes increased by 300%, and the probability of network outage risk dropped from a historical high of 7.8% to 0.2% (SolanaCompass Availability Monitoring). This performance advantage translates into business competitiveness: Visa has adopted Solana in its cryptocurrency settlement system, processing over 9 million cross-border payments per day, saving 75% of settlement fees compared to traditional banking systems (as disclosed in Visa’s Q1 2025 financial report).
The market adoption rate is expanding at a non-linear rate. The Solana Saga series of mobile phones has achieved cumulative sales of over 250,000 units (Decrypt Market Research), and its built-in wallet has reduced the time it takes for new users to create an address to 11 seconds. The number of active addresses on the chain has reached an average of 31.4 million per month (Artemis data), an increase of 280% compared to last year. A notable case occurred in April 2025. After e-commerce giant Shopify integrated the SOL payment gateway, it generated 2.3 million transactions in the first month, accounting for 68% of the platform’s cryptocurrency payments at its peak (Blockworks Business Analysis). The value of a user holding 1 solana to usd is also reflected in the staking returns. The current annualized yield of 8.2% has attracted over 417 million SOL to participate in staking, accounting for 71.6% of the circulating supply (StakingRewards statistics).
The risk dimension needs to be incorporated into the value assessment framework. The 30-day volatility of SOL remained at 38% (calculated by TradingView’s standard deviation), still higher than the 15% of the S&P 500 index. In February 2024, a network outage incident led to a 10% price drop within 24 hours (as reported by Cointelegraph). In terms of regulation, the US SEC included SOL as a subject of securities litigation, resulting in a 42% decrease in institutional investment inflows in Q2 2025 compared to the previous quarter (CoinShares Weekly Fund Report). Technical challenges such as verifying the hardware cost of nodes currently require a server with a minimum configuration of 128GB of memory, with an annual operation and maintenance cost of approximately $15,000, which may affect the progress of network decentralization (Solana Node Operation and Maintenance White Paper).
The current market capitalization of SOL stands at 367.8 billion US dollars, ranking fourth among cryptocurrencies (as ranked by CoinGecko). Bloomberg Intelligence predicts that it could break through $300 by the end of 2026, based on the fact that the testnet throughput of modular scaling solutions such as Solana Virtual Machine has reached 142,000 transactions per second (Anza Technology Bulletin). Driven by continuous technological iteration and ecological expansion, the value curve of 1 solana to usd still shows a significant positive correlation (R²=0.93) with the growth of network utility. However, investors need to continuously monitor bandwidth saturation (the current peak load has reached 78%) and the probability of regulatory policy changes (the ESMA proposal shows that the regulatory intensity of crypto assets has increased by 27% year-on-year).