Solana has achieved a dual milestone, processing more daily transactions than all other major blockchains combined and, for the first time, surpassing Ethereum in monthly stablecoin settlement volume. Data from Dune Analytics, shared by Solana Payments, shows that as of February 19, 2026, Solana processed 105.3 million daily transactions. In comparison, the daily transaction counts for BNB Chain, Base, Tron, Polygon, and Ethereum were so low they registered as effectively zero on the same scale.
The chart tracking daily transactions from August 20, 2025, through late January 2026 shows Solana's purple line dominating, with counts oscillating between 70 million and 95 million through November 2025 before climbing to a peak of 165-170 million in late January. The most notable activity from a competing chain was a BNB Chain spike to approximately 35 million transactions in October 2025.
This high transaction count reflects Solana's architecture, which prioritizes low fees and high throughput, making microtransactions viable and supporting consumer applications like meme coin trading and gaming. However, this design also results in lower fee revenue per transaction; on March 20, Solana generated about $500,000 in fees, while Hyperliquid generated over $2 million from far fewer transactions.
In a separate but related development, a CryptoRank chart reveals a historic shift in stablecoin volume. Tracking data from April 2024 through February 2026, the chart shows Solana's share of stablecoin settlement volume growing from low single digits in early 2024 to claiming the largest single share by February 2026. In that month, Solana commanded between 37% and 74% of the total volume, moving ahead of Ethereum for the first time, according to Visa on-chain analytics data cited in the chart.
This milestone in stablecoin volume is particularly significant as it measures real economic activity—payments, settlements, and DeFi—rather than speculative trading. While Ethereum remains the largest network by total stablecoin supply, Solana is now leading in usage. The stablecoin volume landscape is now primarily defined by the dynamic between Solana, Ethereum, and Tron, which maintained a significant share throughout the period.
