Solana’s investment activity surged in third quarter

Solana saw a surge in investment activity in the third quarter despite a decrease in on-chain usage, with projects securing over $170 million. This funding level has been the highest since Q2 2022.

Solana’s tokenized Treasury market value increased to $123 million within a month. This shows how rapidly the market has grown. A $50 million inflow of USDC from Ethereum (ETH) on September 23, boosted the surge

Solana’s tokenized treasuries currently rank third, behind Ethereum ($1.6 billion) and Stellar ($422 million), but new developments point to possible expansion. In July, alternative investment company Hamilton Lane launched Solana’s first private credit fund.

Franklin Templeton, a well-known worldwide asset manager with $1.7 trillion in assets under management, intends to introduce a money market fund on Solana. By submitting a public registration statement to the SEC upon launch, Franklin Templeton will be the first asset manager to issue securities on Solana.

Over the past six months, Solana’s on-chain activity has decreased despite a rise in institutional interest. Monthly transaction fees are still far greater than a year ago, having increased by about 1,900%, but decreased by 66% from their March 2024 peak.

Although Solana’s monthly transaction fees peaked in March, its market share of fees continuously rose until July, reaching a significant 25%. Solana’s market share had never surpassed 1.5% prior to today.

With $260 million in transaction fees over the last six months, Solana is in third place behind TRON ($268 million) and Ethereum ($752 million).
The research claims that transaction volume, not expensive individual transaction costs, determined the overall fee amount.