Solana Celebrates Five Years Since Mainnet Launch

Solana, the layer-one blockchain platform, celebrated five years since the launch of its mainnet on March 16, 2020.

To mark this milestone, the network shared its achievements:
– Over 1,300 validators
– Nearly $1 trillion in trading volume
– Over 408 billion total Solana transactions

Solana (SOL) was founded in 2017 by Anatoly Yakovenko to tackle the main challenges of blockchain technology. The network aims to achieve a balance between scalability, security, and decentralization.

With the integration of proof-of-stake and Yakovenko’s proof-of-history system, Solana enhances transaction processing speed while keeping costs low.

Since its mainnet launch in March 2020, Solana has generated over 254 million blocks. It has emerged as a significant player in decentralized finance with over $7 billion total value locked in its protocols, according to DeFiLlama data.

Solana’s stablecoin market peaked at $12.6 billion in February 2025 and now stands at $11 billion. Similarly, its market cap peaked at $127.5 billion and has since decreased to $65 billion.

Developer engagement with Solana is on the rise, surpassing Ethereum as the most popular blockchain for new developers in 2024. According to Electric Capital’s 2024 developer report, Solana attracted 7,625 new developers, making up 19.5% of all new entrants in the market.

Moreover, on March 17, CME Group plans to launch Solana futures contracts pending regulatory approval. These futures aim to help investors manage price volatility, indicating Solana’s growing acceptance in the cryptocurrency market.

Solana’s inclusion in several exchange-traded fund applications reflects its increasing mainstream acceptance and growth potential.