Despite a 2% price dip on Monday, Solana (SOL) saw a surge in activity on Tuesday, with over 14.63 million active addresses in the previous 24 hours, according to data from on-chain cryptocurrency analyst Ali Martinez.
A rise in daily active addresses correlates with increased user engagement, potentially fueling greater demand for the token.
Notably, the record numbers across Solana’s ecosystem coincides with renewed excitement for a Solana exchange-traded fund (ETF).
Indeed, the U.S. Securities and Exchange Commission (SEC) has reportedly asked potential ETF issuers to amend or resubmit their applications by the end of July, with Bloomberg ETF analyst James Seyffart claiming that any sort of interactions “should be viewed positively.”
Solana performance
As reported by SolanaFloor, Solana has also surpassed all layer-1 (L1) and layer-2 (L2) chains in terms of network revenue in Q2 2025, comprising transaction fees and out-of-protocol tips.
This marks the third consecutive quarter victory for the network, which now boasts a total revenue of over $271 million, having surpassed TRON (TRX) by over $100 million.
Nonetheless, Solana is still down -0.86% in the last 24 hours at the time of writing, trading at $151.17, a dip likely caused by mixed signals from U.S. regulators regarding ETF approvals.
Namely, the SEC has delayed its decision on Fidelity’s spot Solana ETF filing, reopening public comments for another 21 days, while at the same time announcing a new framework aimed at streamlining crypto ETF approvals.
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