Solana processes 8x transactions more than BNB Chain – Details

Whereas the broader crypto market spent February 2026 transferring sideways amid world uncertainty, one ecosystem appeared to comply with a special path.

New information from DeFi Dev Corp. (DFDV) reveals that Solana [SOL] processed over 3.4 billion transactions in February, marking an 11% improve in comparison with January.

That is noteworthy as a result of throughout the identical interval, main networks like Ethereum [ETH] and Bitcoin [BTC] noticed exercise decelerate as market sentiment weakened. 

How are different chains performing?

Following behind Solana is the second-largest community, BNB Chain, which dealt with round 424 million transactions.

Which means that Solana processed about eight occasions extra exercise than its closest competitor, dwarfing different networks’ on-chain exercise.

Supply:
DeFi Dev Corp./X

The information additionally reveals an necessary development inside the Ethereum ecosystem whereby Ethereum’s most important community recorded solely 62 million transactions, putting it close to the underside of the checklist.

Is Ethereum in bother?

Although Ethereum’s most important community noticed considerably fewer transactions, this doesn’t imply the ecosystem as a complete is declining.

As an alternative, a lot of the exercise has moved to Layer-2 networks, which provide decrease prices and quicker transactions.

For instance, Base, the Layer-2 community backed by Coinbase, processed 316 million transactions, exhibiting robust retail exercise. In the meantime, Arbitrum recorded 123 million, and Optimism recorded 68 million, and continued to see steady utilization.

This implies that Ethereum’s largest competitor is probably not one other Layer-1 chain. As an alternative, its personal scaling networks are step by step absorbing many of the exercise, although even these networks nonetheless fall far behind Solana’s transaction quantity.

Solana witnsses robust institutional push

Past community exercise, Solana additionally noticed robust help from institutional buyers.

Since their launch, Spot Solana ETFs have attracted round $950 million in web inflows with largely influx streaks, in accordance with information from Farside Buyers.

In the meantime, on the value entrance, like many property that struggled to seek out path in February, SOL too witnessed a month-to-month decline of over 12%, however at press time, it traded round $90.09, rising 7.46% inside 24 hours.

Furthermore, this coincided with AMBCrypto’s report about Solana holding ~53% of the $15.34 billion USDC provide, making it one of many largest hubs for stablecoin exercise. 

What’s the information saying?

In keeping with Santiment information, Solana’s Internet Realized Revenue/Loss remained largely adverse all through late January and February, with most bars turning pink. This indicators that many holders had been promoting their tokens at a loss as costs declined.

Supply: Glassnode

Moreover, a significant spike in early February reveals losses nearing $1.3 billion, suggesting a wave of panic promoting as SOL dropped sharply from round $140 to beneath $90.

Since then, the dimensions of the loss bars has step by step decreased, indicating that promoting stress is easing as the value stabilizes between $80 and $90.

This development means that a lot of the compelled promoting could have already got occurred, with the market coming into a extra steady section.

But, regardless of the robust numbers, an necessary query stays: can this momentum proceed within the months forward, or will market circumstances start to sluggish it down?

Closing Abstract

• Processing 3.4 billion transactions in a single month locations Solana far forward of competing blockchains in uncooked exercise.
• Realized loss information reveals that a lot of the panic promoting could have already occurred, with promoting stress step by step easing as the value stabilizes.