Solana posted broad-based growth across major on-chain sectors in the first half of 2026, according to Birdeye Data's report, Solana H1 2026 by the Numbers. The report said the network held an average 54% share of spot trading and recorded $425 billion in monthly volume, even while SOL traded through a weak price environment for much of the year.
Spot trading stayed dominant as stablecoins and payments expanded
Birdeye's breakdown covered trading, stablecoins, lending, payments, tokenized stocks, prediction markets, and perpetuals. In spot markets, Solana remained the leading chain by the report's measure. Stablecoin supply rose 154% from January 2025 and reached $16.36 billion on June 15. Payment activity also grew, with card payments climbing to $420 million and total payment volume rising 87% year over year.
Tokenized stocks were one of the fastest-growing categories in the report. H1 volume on Solana came close to $4.9 billion, a 6x increase, while market capitalization moved above $500 million. Birdeye also said HYPE generated $3.1 billion in cumulative trading volume on the network.
Lending utilization rose while perps volume accelerated
In lending, utilization increased from 37% in January to 47% by June. Prediction markets reached 37 live platforms, which the report said put Solana ahead of other chains in that segment. Perpetual futures volume totaled $255.6 billion, up 57.1% year over year.
Price fell, but the number of SOL holders kept rising
Birdeye argued that Solana's H1 performance reflected sustained usage across product lines rather than a one-month spike. SOL fell about 59% from its January peak, yet wallets holding SOL increased from 4.91 million to 6.87 million, a gain of roughly 40%. That divergence between price and holder growth stood out as one of the report's central signals.
The report also placed the current cycle in historical context. SOL first reached nearly $260 in November 2021, dropped to near $10 after the collapse of FTX, and then climbed to a new high of $290 in January 2025. Birdeye said the network is now entering a third phase of growth. For H2 2026, the report pointed less to short-term price action and more to whether tokenized stocks, perps, and prediction markets can sustain the same liquidity and usage already seen in spot trading.