21Shares says that Solana is on Tempo Linchpin of digital finances

Solana (SOL) has emerged as the fastest -growing layer 1 blockchain of 2025, which Ethereum (ETH) surpassed the growth of developers and terrain over Defi, payments and AI, according to the latest Crypto of 21Shares report.

Solana $ 364 billion in volume, more than Ethereum and Coinbase, and now supports more than 100 million monthly active users in the first two months of the year.

With average reimbursements under $ 0.01 and finality of the Subsecond transactions, Solana’s high speed, cheap architecture adoption of both crypto-native users and large settings.

Visa, Shopify and Stripe are now arranging Stablecoin payments on Solana, while PayPal and the first digital have more than $ 100 million in Solana-Native Activa.

Stablecoin Supply on the network has risen from 600% on an annual basis, more than $ 12 billion from the end of the first quarter.

Defi, Memecoins and AI Push

The Defi -Ecosystem of Solana has grown to $ 8 billion in the total value, an increase of 100% compared to 2024, and now accounts for 16% of Ethereum’s market share, which reduces a 20: 1 opening to 5: 1.

It houses three of the top 10 DEXs per volume and is in third place worldwide in Stablecoin market capitalization.

Memecoins remain an important cause of activity and contributes more than half of the volume of the chain. The official Trump -Token that was launched earlier this year generated more than 48 hours of $ 30 billion in transactions, so that Solana’s transit temporarily pushed to levels that rival from Nasdaq.

In addition to speculation, the network is rapidly expanding to infrastructure and AI. Solana leads all chains in Depin Market Cap for $ 4.2 billion, to support projects such as helium, Hivemapper and Render network.

Solana also dominates the crypto-ai-segment, with 66% of the AI ​​agent activity and growing acceptance of tools such as Elizaos and ARC.

Waarders models suggest considerable advantage

The report emphasizes increasing worries about validator -centralization, speculative activity and inflatoid pressure after the end of burns for transaction costs.

However, the report argued that Solana remains fundamentally undervalued. A discount with a discount in cash flow model projects the real value of SOL between $ 520 and $ 1,800, depending on the growth rates, far above the current price of around $ 150.

If Solana catches only half of the market capitalization of Ethereum, this could see continuous growth of payments, AI and institutional acceptance.

The report concluded that Solana is positioned as the primary layer 1 competitor and the backbone of the next generation of blockchain infrastructure.

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