According to Chainspect, on Saturday, the Solana blockchain network recorded more than 154 million transactions in the past quarter.
154 million transactions with zero excuses
On Saturday, @solana processed over 154M transactions, reaching its highest daily total in the past quarter
Powering internet capital markets requires top-notch performance, and Solana delivers exactly that
📊 https://t.co/zDoQh04ixE pic.twitter.com/IqJcgW0Esh
— Chainspect (@chainspect_app) June 29, 2026
The reason behind the growing activities on the Solana network is the rise of decentralized exchanges, memecoins, and tokenized real-world assets. According to the on-chain analytics platform, the network is recording more than 100 million non-vote transactions per day.
While the Solana network is witnessing a peak performance, the on-chain data revealed that its real-time transactions per second are revolving around 2,200 tx/s with a growth of 6.46% on an hourly chart. This is far more throughput than other blockchains like Ethereum.
On June 28, Solana also generated $455,000 in on-chain revenue, which was the highest in the entire week. It means that the blockchain is actively generating real demand and earning impressive fees.
How the Solana Network is Handling Large Numbers of Transactions
While other blockchains like Ethereum are still struggling to scale their networks and divert transactions to Layer-2 solutions, Solana has grabbed the attention of a new era of decentralized finance users.
Solana is using mechanisms like proof of history along with an advanced architecture, which is capable of executing parallel transactions. This kind of complex mechanism on the network helps Solana to achieve an impressive number of real-world transactions per second (TPS).
There have been major upgrades in the past, which helped the Solana network to boost its scalability. Firedancer, which is a new validator client, is helping the network to enhance throughput by reducing latency on the network. Firedancer has also added client diversity to mitigate the risk of bugs, which might create a problem on the entire network. Its phased rollout is still ongoing in 2026.
Apart from this, the Solana developers have increased the block limit along with scheduler improvements, which allows the network to handle more transactions per block without affecting or reducing the speed of the network.
Anza, a leading independent research and development company, is also working on some projects, such as Agave, to enhance the performance of the Solana blockchain.
According to Token Terminal, the average transaction fee on Solana is currently around $0.00168. This is impressively low in comparison to Ethereum, which has an average transaction fee of $0.112.
While Solana maintains this fee range between $0.112 during the period of congestion on the network, Ethereum mainnet fees can spike to the $0.5 or even $5 range. This could make small transactions too expensive on the Ethereum blockchain network. This is the major reason why many Ethereum users are migrating to Layer 2s like Base or Arbitrum to take advantage of low fees, though it includes so much complexity for users.
Solana Alpenglow Upgrade Changes Equations for Network
On May 11, Solana activated one of the biggest upgrades, known as Alpenglow. This was the biggest upgrade in 2026. This upgrade has redesigned the consensus mechanism, replacing parts of Proof of History and Tower BFT in order to aim for “near-instant” finality in 100 to 150 million seconds.
“Alpenglow introduces the concept of VAT (Validator Admission Ticket). VAT is a 1.6 SOL fee that validators must pay to be included in the consensus set each epoch. With the introduction of VAT, Alpenglow paves the way for faster block times and increased CU capacity with the removal of vote transactions from blocks,” stated in the official roadmap for Solana in 2026.
Solana Scales, But Ethereum Faces Revenue-Related Challenges
While Ethereum is still holding a large portion of the decentralized finance market, there is a recent controversy brewing around its long-term economic stability. Network fees have dropped after the rise of Layer-2 solutions, which were the main source of revenue for the network. This issue has raised concerns around the role of the Ethereum Foundation.
In May 2026, former Ethereum researcher Dankrad Feist revealed a proposal to create a new organization with at least $1 billion in initial funding. The main purpose of this new organization is to make it more economically linked to Ethereum through staking and collecting fee revenue.
“The way to save Ethereum: The community needs to create an organization that’s economically aligned with Ethereum and accountable to it. The EF now holds less than 0.1% of all ETH. There is no flow of Ethereum staking or fee revenues to it,” Dankrad Feist stated in the post on X.
