Founded in 2017, Solana came out swinging as a chain built for speed, thrift, and efficiency. Transactions fly through its pipes with less drag and less cost than many of its rivals, giving it a reputation as the fast lane of crypto.

Those traits turned it into a magnet for DeFi experiments and digital assets, a kind of workshop floor where builders gather and investors circle. Utility sits at its core, and that usefulness has pulled in people looking for more than speculation; they come for a network that actually gets things done.

As Solana positions itself for growth, it’s important to understand what drives the Solana price USD.

How Solana Creates Value Internally

Crypto lives and dies by the tug of supply and demand. Bitcoin made its name with a hard cap of 21 million coins. Solana plays a different game, feeding on burn mechanics that torch a slice of every fee and slip a quiet scarcity into the bloodstream of the network.

But Solana isn’t just a coin in a wallet. It is the stage itself, a chain pulling in DeFi builders, NFT traders, and a whole family of Solana-born altcoins. Every new project stitched onto its fabric adds weight to the platform, and that weight circles back to its token, giving SOL its own strange gravity.

On a similar note, Solana is a popular platform for creating smart contracts, known as programs on the platform. Solana’s speed and scale give builders room to spin up smart contracts at a pace few rivals can touch. The token’s price may not sit alongside Bitcoin or Ethereum at the top of the table, but the groundwork is laid with tomorrow in mind, carrying the shape of what decentralized tech could grow into.

Network Growth and On-Chain Activity Bolster Solana’s Value

One of Solana’s biggest tailwinds comes from the sheer weight of people using it. In the first quarter of 2025 alone, the chain was churning through an average of 96 million daily transactions, far outpacing Ethereum’s 1.2 million in the same stretch, according to the Solana Foundation. By the time the year hit its stride, over 38 million wallets were lighting up each month. Low fees and fast rails make it easy for weekend tinkerers and seasoned developers alike to plug in, and that steady hum of activity keeps the network’s momentum rolling forward.

That wave isn’t just noise. In decentralized finance, Solana now holds over $5.7 billion locked into its pipes, placing it third across all blockchains, according to DeFiLlama. Numbers like these point to a chain that’s alive with on-chain motion, a flywheel effect that can spark further growth and may keep nudging Solana’s price higher over time.

The Impact of Institutional Adoption on Solana

In January of 2024, the first spot Bitcoin ETFs were approved by the U.S. Securities and Exchange Commission (SEC). By May, the SEC approved spot Ethereum ETFs. These respective approvals led to increased legitimacy for both cryptocurrencies, bringing them one step closer to the mainstream. Now, approval seems near for Solana. If the SEC allows Solana ETFs, the token may be prepared for a rally.

“Solanaportion is surging toward $200 as ETF approval nears,” a CoinPedia article read. “Seven firms, including Franklin Templeton, have refined their S-1 filings. The SEC is scrutinizing these updates, with staking features sparking excitement. Bloomberg’s James Seyffart pegs approval chances at 90%. Polymarket data echoes this, showing 92% odds.”

These kinds of institutional changes reverberate in crypto spaces, which are constantly seeking ways to gain market legitimacy and reduce extremes of volatility. When prominent investors and financial platforms create crypto ETFs, they are perhaps more likely to recognize the space’s potential for rapid investment in the mainstream market.

Corporate Interest in Solana

At this point, entire companies are building their strategies around crypto investments. Michael Saylor’s Strategy, formerly known as MicroStrategy, has famously invested nearly $59 billion in Bitcoin. Gamestop has made a similar pivot, looking to bolster flagging sales with crypto assets. The Toronto-based Sol Strategies Inc., which has taken a similar approach with Solana, is now looking for a Nasdaq listing.

“Sol Strategies has built its strategy around the Solana blockchain,” The Defiant read, “holding roughly 420,000 SOL tokens—valued at about US$72 million—and operating several validator nodes. The firm positions itself as an institutional vehicle for exposure to the network… [and] said the cross-border listing would give it greater access to U.S. investors and deepen liquidity.”

Investing in Solana

For the average investor, increased attention toward Solana may be promising. However, it is important to remain attentive to the market’s response. Access to a real-time price tracker and an understanding of historical trends in the cryptocurrency space are among the best ways to negotiate the market without falling into a reactive approach. As Solana positions itself to grow, remain aware of how the market responds.