Solana leads blockchain activity with 1,635 TPS, investor confidence rises

Solana outpaces rivals in network throughput

In a new set of rankings published by blockchain analytics company Chainspect, Solana registered a network throughput of 1,635 transactions per second (TPS), putting it well ahead of other major blockchains. Second place went to Internet Computer, which recorded 1,035 TPS.

These figures, provided for July 10, give both Solana and Internet Computer a clear lead over their nearest competitors. BNB Chain, widely used for decentralized applications and trading, processed only 179 TPS, while Aptos posted a similar TPS rate.

Other notable layer-1 and payment networks lacked comparable processing power. TRON and Stellar, focusing heavily on stablecoin and cross-border activity, processed between 130 and 150 TPS. Base, Polygon, Fogo, and Keeta Testnet each recorded under 100 TPS, signaling a significant gap with the top blockchains in terms of on-chain activity.

Analysts note that Solana’s ability to process large volumes of low-cost transactions has made the network attractive for both established and emerging projects, retaining high user and developer engagement even as market volatility persists.

The Internet Computer, developed by the DFINITY Foundation, maintains a strong presence as a scalable smart contract platform, but still trails Solana’s current throughput levels.

Mini dictionary: Chainspect, a blockchain data and analytics platform, provides real-time monitoring and comparative research on various blockchain networks’ performance and activity.

On-chain activity and technical indicators signal optimism

According to analysts, signs of strong activity in Solana align with bullish technical developments. Ali Charts, a well-known market analyst, highlighted a renewed buy signal after Solana’s price climbed above $78 on June 30, triggering a positive SuperTrend reading for the first time in weeks. This technical setup is seen as reinforcing investor sentiment.

Ali Charts emphasized that a buy signal was generated on Solana after surpassing the $78 threshold, with the SuperTrend indicator turning bullish.

Supporting these bullish signals, on-chain data also points to major capital flow into long-term holding strategies. Between June 24 and July 3, about 1.5 million SOL tokens were withdrawn from exchanges, indicating that holders preferred to move their coins to secure self-custody rather than sell. In the same period, Solana’s network recorded an increase of 1.6 million wallet addresses, further suggesting rising participation.

Key resistance levels and market risks

Despite bullish momentum, analysts caution that Solana faces significant resistance in the $79 to $85 range. The UTXO Realized Price Distribution data shows that around 105 million SOL have previously changed hands within this zone, posing a potential supply barrier if upward price movement continues.

According to technical projections, if Solana’s price breaks above the $85 level, further upside targets could be set at $100 and $127. Conversely, a decline below $74 may signal a reversal and increase the potential for a pullback down to the $53 support level.

On-chain and technical indicators both highlight the importance of the $85 resistance and the $74 support in determining short-term trends for Solana.

These developments unfold at a time when the broader crypto sector is searching for new growth drivers, adding focus to networks that demonstrate both robust user demand and technical capability.