Solana hits 1,200 TPS and 100M daily transactions as revenue surges

Solana processed 100 million transactions in 24 hours at 1,200 transactions per second on June 30, pushing network revenue to a new high.

"Players like MoneyGram, with global scale and experience serving customers across markets, are engaging with Solana as more payments activity moves onchain," Sheraz Shere, GM of Payments and Commerce at Solana Foundation, said.

The 100 million daily transactions mark represents a step-change from Solana's prior throughput levels. Network revenue — derived from transaction fees and priority fees — climbed in tandem, though the exact figure was not yet disclosed. The milestone comes as MoneyGram became a Solana validator on June 29, joining Mastercard among institutional participants securing the network, according to a FinTech Magazine report.

Solana's throughput now exceeds most traditional payment networks. Visa processes about 1,700 TPS at peak, while Solana's 1,200 TPS brings it within range of competing with incumbent rails. The next test will be whether the network can sustain this throughput without the congestion issues that have plagued it during previous demand spikes.

Competing for stablecoin volume

The throughput milestone strengthens Solana's position in the stablecoin payments race, where it faces competition from Polygon and BNB Chain. Polygon processed $79.25 billion in stablecoin transfers across nearly 198 million transactions in May, outpacing both Solana and BNB Chain in transfer volume, according to The Currency Analytics. Solana's improved throughput could help it capture a larger share of that flow as payment infrastructure providers like MoneyGram integrate directly with the network.

Institutional infrastructure deepens

MoneyGram's decision to run a validator on Solana signals a shift from using blockchain as a payment channel to participating in network security. The remittance firm has spent five years integrating blockchain into its treasury and product operations, Chairman and CEO Anthony Soohoo said. By staking SOL and processing transaction blocks, MoneyGram gains direct influence over the reliability of the rails it uses to move money — a model that other fintech firms may follow if Solana maintains its current performance levels.

Solana's next resistance level sits near the all-time high zone, with support established at the $120 to $130 range, based on recent price action. The revenue surge and institutional validator additions provide fundamental backing for the network's valuation, though sustained throughput will determine whether the milestone translates into lasting market share gains against Ethereum, Polygon and BNB Chain.

This article is for informational purposes only and does not constitute investment advice.