Solana Marks 5-Year Journey – 400 Billion Transactions And Counting

Christian Encila

3 months ago

3 mins read

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A well-known cryptocurrency marks its anniversary by celebrating the milestones it has achieved over the years such as its incredible growth that made it one of the top digital assets in the space. In the last five years, Solana has attained nearly $1 trillion in DEX trading and processed more than 400 billion transactions.

Five Successful Years

Since Solana was created on March 16, 2020, the crypto has grown to become one of the top 10 digital assets today.

In an X post, Solana shared what it has accomplished over the course of its half-a-decade existence, citing that it has facilitated over 408 billion SOL transactions, more than 1,300 validators, and at least $987 billion in volume.

Happy 5th birthday Solana fam! 🥳

408+ billion transactions.
1,300+ validators.
$987+ billion volume.

Thank you to all the relentless founders, devs, and nCMOs around the globe who have made Solana what it is today — 5 years in, we’re just getting started 🎊 pic.twitter.com/p89PynhjpJ

— Solana (@solana) March 16, 2025

According to CoinGecko, Solana holds the 6th place in cryptocurrency in terms of market capitalization. Meanwhile, SOL occupies the 9th spot in the Coinbase crypto, which is based on relative market cap.

“Thank you to all the relentless founders, devs, and nCMOs around the globe who have made Solana what it is today — 5 years in, we’re just getting started,” SOL said in a post.

Solana Growth By The Numbers

Analysts said that Solana, a crypto born together with the pandemic, owes its growth to its system which speeds up its transaction processing, allowing the digital asset to increase at a low cost.

Data showed that since its mainnet went live in March 2020, the crypto has generated over 254 million blocks, adding that Solana has become a major force in the decentralized finance space. According to DeFiLlama, Solana has more than $7 billion in total value locked in its protocols.

On the other hand, SOL’s stablecoin is also doing well after posting $11 billion. Although this figure is a bit lower than the $12.6 billion recorded in February 2025.

In terms of market capitalization, Solana has about over $65 billion, which is a big drop from its peak of $127.5 billion.

SOL market cap currently at $65.4 billion. Chart: TradingView

As of writing, SOL is being traded at $127 per coin, which is 1.2% down in the last 24 hours.

Bouncing Back

Market observers said Solana was greatly affected by the bear market in 2022 and the collapse of the crypto exchange FTX, wherein investors saw its mark cap plummet by 96% to only $3 billion.

Sam Bankman-Fried’s FTX bought an estimated 58 million SOL tokens worth $7.4 billion at today’s value. However, in November 2022, FTX filed for bankruptcy, leading to a decrease in SOL’s price and hitting $8.30 per coin in December 2022.

It might face many challenges in 2022 but SOL showed its resiliency and made an impressive comeback in 2023, growing its market cap from $3 billion to more than $140 billion, as of January 19, 2025.

Featured image from Pexels, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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