Solana network transactions hit record high as fees rise 80%

The Solana network is showing strong activity numbers. The seven-day average of daily network fees stood at nearly 9,200 SOL on 27 August, more than 80% higher than three months earlier. At the same time, the number of non-vote transactions reached a record of 191 million over the same period, compared with 88 million a year earlier. The Solana community also voted by a large majority in favour of a far-reaching proposal that will significantly reduce staking rewards in the coming years.

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In short:

• The seven-day average network fees rose by more than 80% in three months to nearly 9,200 SOL per day
• Non-vote transactions hit a record of 191 million in seven days, more than twice as many as a year earlier
• The SGP-0002 proposal for lower inflation received 67% support and cuts the staking reward from 5.25% to 2.25% over three years

Record activity on the network

The rise in network fees to nearly 9,200 SOL as a seven-day average points to significantly greater use of the Solana network. Non-vote transactions, which measure actual user activity and exclude validator voting transactions, doubled from 88 million to 191 million compared with a year earlier.

Jito validator tips, a gauge of demand for priority transaction processing, averaged 2,073 SOL per day over the past week. That is 26% more than the previous week, indicating further growth in blockchain activity.

Inflation plan adopted with 67% support

In addition to the record activity figures, the Solana community also took a decision on the network’s monetary policy. The SGP-0002 proposal, also known as the “Double Disinflation” plan, was adopted with 67,001% of the votes.

Under this plan, the staking reward will fall from around 5.25% currently to an expected 2.25% in the third year. That puts particular pressure on smaller, independent validators that rely heavily on inflation rewards rather than transaction fees as a source of income. Validators with high transaction volumes are less affected because they earn relatively more from network fees.

The Solana price currently stands at $103, up 0.1% over the past 24 hours.