Solana just hit a major milestone as it completed five years since its mainnet launch on March 16, 2020. And what a journey it’s been. The blockchain has now processed over 408 billion transactions, clocked nearly $1 trillion in total trading volume, and built a rock-solid network with more than 1,300 validators. Not bad for a five-year-old, right?
Back in 2017, Anatoly Yakovenko had one mission, fix blockchain’s biggest headache: scalability. Enter Solana. Thanks to its unique Proof-of-History (PoH) system, paired with Proof-of-Stake (PoS), the network is fast, cheap, and efficient. And that’s exactly why it’s a favorite among developers and crypto enthusiasts alike.
From Zero to DeFi Hero
Since its mainnet debut, Solana has generated over 254 million blocks and cemented its place in the decentralized finance (DeFi) scene. According to DeFiLlama, the total value locked (TVL) in Solana-based projects has now crossed $7 billion, solid proof of its growing dominance.
Meanwhile, the blockchain’s stablecoin market is currently at $11 billion, a slight dip from its February 2025 peak of $12.6 billion. As for its market cap? Once a whopping $127.5 billion, it now sits at $65 billion.
If numbers tell a story, this one’s loud and clear that Solana is the go-to blockchain for new developers. A 2024 report from Electric Capital revealed that Solana attracted 7,625 fresh devs last year, making up nearly 20% of all new talent in the blockchain space. For context, that’s even more than Ethereum. Yep, you read that right!
Institutions are paying attention too. CME Group is gearing up to launch Solana futures contracts on March 17 (pending regulatory approval). Plus, multiple ETF applications now feature Solana, proving that the mainstream financial world is finally taking it seriously.
To celebrate, Solana’s official X (formerly Twitter) account posted: “Happy 5th birthday Solana fam! 408+ billion transactions. 1,300+ validators. $987+ billion volume. Thank you to all the relentless founders, devs, and nCMOs around the globe who have made Solana what it is today — 5 years in, we’re just getting started.”
Five years down, and Solana is just getting warmed up. What’s next? If history (or Proof-of-History) is any indication, it’s only going up from here.