Solana Payment Volume Surges 755% Year-Over-Year, Leading Web2 and Web3 Platforms

Solana has emerged as the dominant force in payment processing growth, achieving a remarkable 755% year-over-year increase in payment volume that surpasses both traditional Web2 and emerging Web3 platforms, according to recent data from blockchain analytics provider Artemis.

Payment Volume Dominates Across Platforms

The Solana network currently leads all payment platforms in total payment volume growth across the digital landscape. Data from Artemis reveals that Solana's payment processing volume has exceeded $6.5 billion, representing an extraordinary 755% increase compared to the previous year. While this growth rate significantly outpaces traditional finance, legacy platforms like PayPal still command substantially larger absolute volumes, processing approximately $1.8 trillion.

The network has demonstrated particularly strong performance in business-to-business transactions. According to onchain data, Solana's B2B payment volume expanded ninefold within just 16 months, reaching $3.84 billion. This growth significantly outpaces the broader stablecoin payment market, which saw a 137% year-over-year increase as of August 2025, with B2B transactions comprising the largest segment across all stablecoin platforms.

Trading Volume Achievements

Beyond payment processing, Solana has established itself as a powerhouse in spot trading activity. The network recorded $1.6 trillion in spot trading volume in 2025, according to a January 5 report, placing it second only to Binance's $7.2 trillion among all trading platforms.

Solana's trading volume represented 11.92% of the global spot market, surpassing major centralized exchanges including Bybit, Coinbase, and Bitget throughout 2025. Data from DeFi analytics aggregator DefiLlama indicates that SOL's monthly decentralized exchange volume consistently outperformed major competitors such as Ethereum and Binance Smart Chain for most of 2025, peaking at $313.91 billion in January 2025.

For comparison, Ethereum recorded $85.692 billion in trading volume during the same month, while Base ranked third with $50 billion. By year's end, Solana accumulated over $1.5 trillion in total trading volume, substantially ahead of Ethereum's $950 billion.

Price Decline Impacts Treasury Holdings

Despite its impressive growth metrics, SOL has faced significant headwinds in the current market environment. The token has declined 9% over the past seven days and fallen more than 35% year-to-date, currently trading at $82.38, according to CoinMarketCap data.

This price deterioration has severely impacted companies holding SOL in their treasuries. Forward Industries leads all treasury holders with 6.9 million SOL valued at $564.38 million, while Solana Company holds 2.3 million SOL worth $187.8 million, according to Coingecko data. The recent price decline coincided with substantial market liquidations on Friday, which eliminated over $300 million in long positions.

ETF Outflows and Network Adjustments

Spot SOL exchange-traded funds have recorded net outflows exceeding $10 million in February thus far. According to Sosovalue, these investment vehicles saw modest inflows of $478,900 on Wednesday following an $8.43 million withdrawal the previous day. The funds currently manage $673.99 million in net assets, representing 1.49% of SOL's total market capitalization.

Meanwhile, Solana's daily validator count has dropped below 800, the lowest level since 2021, marking a significant decline from the network's peak of 2,500 validators in early 2023. However, this reduction appears to be intentional rather than problematic. The Solana Foundation has reportedly implemented a deliberate restructuring strategy to reshape validator conditions and requirements, removing underperforming nodes to enhance network quality and reliability.

Coinasity's Take

Solana's extraordinary payment and trading volume growth demonstrates genuine technological adoption despite current price weakness. The 755% year-over-year payment volume increase and dominance in DEX trading volume suggest strong fundamental utility that transcends short-term market sentiment. While treasury holders and ETF investors are currently experiencing pain, the intentional validator consolidation indicates strategic network optimization rather than decline. The divergence between robust on-chain activity and price performance may present an opportunity for long-term investors willing to weather the current crypto winter.