Solana Succeeds Despite On-Chain Challenges

Solana’s price has remained within the $150 range from the weekend of July 4, 2025 and beyond. This is despite a slump in on-chain activity and also thanks to use cases in non-blockchain activities, as well as corporate support. All these show that the Ethereum Killer has created a healthy base of use cases and should continue to succeed well into the future. The Many Uses of Solana As one of the most famous tokens in the world, Solana has created a healthy selection of use cases, even in industries you might not have expected. For example, the Solana token has seen a lot of use in the gambling space. This can be put down to its speed, scalability, and attractive fee structure, as well as its impressive price predictions. As such, gambling with Solana means fast transactions and the chance for profit. Consumers have certainly caught on to this and are wagering the token in droves. As gambling writer Alex Hoffmann explains, Solana casino sites are more widely used than ever before, and this shows no signs of stopping. Another source of demand for the token can be credited to institutional interest. Recently, for example, DeFi Development Corporation made an impressive purchase of 17,760 SOL, which brings its total SOL token holdings to 640,585 SOL. With this, it retains its place in a growing list of corporations holding Solana as a reserve asset. Finally, there was the launch of its staking ETF, which saw immense support from investors. It debuted with $33 million in trading volume on its first day, showing the hunger for SOL-related products. This also comes as Solana is believed to be on its way to its own spot ETF in the same vein as Bitcoin and Ether. These developments show that on an individual and institutional level, there is a lot of faith in Solana. As such, even the challenges it faced in May 2025 have not deterred its upward trajectory. May 2025 Brings Challenges For Solana As per data from Blockworks Research, Solana’s network activity saw a slump in June. Its REV declined by 48% to $63 million in the space of a month. Its app revenue did not fare any better, with a 38% dip from May to June 2025. But despite this, Solana is still one of the biggest tokens and ecosystems around today. It represented 31% of on-chain transactions for the entire blockchain space, even putting it ahead of the likes of Ethereum. It also claimed 35% of app revenue across blockchains. This is perhaps why the value of the token has held so well. The weekend of July 5, 2025, saw its price sit at $150, a level it still maintains as of July 8, 2025. All things considered, Solana as a project continues to enjoy a positive reputation in the crypto sector. And while, like all tokens, it has faced its periods of decline and challenges, it has a solid base of individual and institutional support to help it bounce back. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: Crypto Daily