What happened?
Grayscale released a report saying Solana’s on‑chain growth, app activity and fee revenue support a fair value above the prior $260 peak. The report highlights Solana’s leading metrics in users, transaction volume, and app fees, plus major DEX and app activity that generated roughly $425M monthly in fees. Grayscale and other industry voices now view SOL as undervalued given its developer growth, low fees, and upcoming network upgrades.
Who does this affect?
Retail and institutional crypto investors could see renewed interest in SOL if the narrative of strong on‑chain demand gains traction. Developers, DeFi projects, and app users on Solana benefit from cheap, fast transactions and a growing ecosystem of DEXs, launchpads, and real‑world apps. Validators and staking participants also matter, since attractive staking rewards and steady fee income make the network more appealing to long‑term capital.
Why does this matter?
If Solana’s demand and revenue keep rising, it could lift SOL’s market value, draw fresh capital into the layer‑1 sector, and shift liquidity and developer attention away from competitors like Ethereum. Higher fees and strong app revenue plus staking incentives can tighten available supply and encourage institutional allocations, potentially pushing prices toward Grayscale’s $260 fair value and beyond. That reallocation would impact trading volumes, token valuations across the crypto market, and where venture and capital markets choose to deploy resources.