Solana's blockchain is undergoing a significant stress test driven by a resurgence in memecoin activity, which is highlighting the network's production-grade scalability and economic resilience. According to data from Token Terminal, Solana (SOL) is currently processing approximately 40% of all Layer-1 (L1) transaction throughput, a figure second only to the Internet Computer (ICP), which operates at roughly 4,100 transactions per second (TPS).
Solana's TPS has consistently ranged between 2,000 and 5,000 since 2023, with recent readings near 3,200 TPS even during intense waves of memecoin launches. This performance starkly contrasts with peers like TRON (TRX), BNB Chain, and Ethereum (ETH), which typically operate below 150 TPS. The network's ability to handle spikes in speculative activity—such as daily token deployments climbing above 40,000, an 11-month high—without lasting degradation signals robust resilience under real demand.
The high throughput is converting into tangible economic value. Over the past 30 days, Solana's decentralized exchange (DEX) volume has exceeded $110 billion, more than double Ethereum's $47 billion. This intense trading activity has generated roughly $145 million in application revenue for Solana, outpacing other chains and validating its fee capture model during a memecoin-driven cycle.
Supporting this growth, on-chain analytics from Nansen show Solana had a strong start to 2026. Active addresses doubled to over 5 million, while daily transactions jumped from 52 million to 87 million. Daily fee revenue also cracked the $1.1 million level. While DEXs and DeFi are the main contributors, sectors like gaming, NFTs, and infrastructure are also ramping up, indicating a broad ecosystem expansion.
This performance underscores Solana's technical advantages, including parallelized execution and low fees, which make high activity additive rather than destabilizing. The memecoin boom, therefore, acts as a live stress test, proving the network can sustain high throughput and scale real usage while converting that activity into durable economic value.
