Solana’s current memecoin-driven activity surge appears to be driven by speculative excess on the surface. Yet beneath it lies a real-time stress test of the network’s scalability, fee dynamics, and throughput resilience.
The network’s transaction throughput highlights production-grade scalability rather than episodic performance.
Since 2023, TPS has consistently ranged between roughly 2,000 and 5,000, with the latest reading near 3,200, even during memecoin launch waves.
Source: Token Terminal
Importantly, spikes tied to speculative surges did not trigger lasting degradation. Instead, throughput normalized quickly, signaling resilience under real demand.
Over time, TPS recovered from mid-2024 lows near 2,000 and scaled again into 2025, reflecting ecosystem growth rather than one-off stress events.
This consistency matters. Weekly averages show Solana [SOL] capturing approximately 40% of L1 transaction throughput, second only to the Internet Computer [ICP] at roughly 4,100 TPS.
Source: TokenTerminal
In contrast, peers like TRON [TRX], BNB Chain, and Ethereum [ETH] operate orders of magnitude lower, typically below 150 TPS.
Solana’s edge stems from parallelized execution, low fees, and optimized networking.
As a result, high activity becomes additive, not destabilizing. Low degradation under stress, therefore, confirms production readiness, not laboratory benchmarks in live environments.
The memecoin comeback
Memecoin activity on Solana has been accelerating again, with Daily Token Deployments climbing above 40,000, marking an 11-month high.
Importantly, this resurgence aligned with sustained transaction throughput near 3,000–5,000 TPS, even during peak launch periods.
As a result, high-volume token creation does not degrade network performance.
Source: X
Instead, consistent TPS enables rapid launches, frequent trading, and continuous experimentation.
Over recent months, Deployment Counts trended higher alongside stable execution, confirming scalability under real demand.
Moreover, launchpad diversity has expanded rather than concentrated, signaling broad participation. High TPS lowers friction, attracts speculative activity, and reinforces Solana’s role as the preferred execution layer for memecoin cycles.
Speculation converts into revenue, not just volume
Speculative activity on Solana has been converting into measurable economic value rather than transient volume.
Over the past 30 days, DEX Volume exceeded $110 billion in the last 30 days, more than double Ethereum’s $47 billion, signaling sustained trading intensity.
Source: DeFiLlama
Echoing this, application revenue followed. Solana generated roughly $145 million in App Revenue over the same window, outpacing peers and validating fee capture.
Source: DeFiLlama
Importantly, this revenue emerged during a memecoin-driven cycle, not a lull. Meanwhile, Hyperliquid [HYPE] and Base trailed meaningfully, despite strong niches.
As activity scales, base and priority fees compound with MEV extraction, reinforcing monetization. Therefore, throughput is not hollow. Usage pays, confirming sustainability at scale.
Final Thoughts
- Memecoin-driven speculation on Solana doubles as a live stress test, proving the network sustains high throughput without degradation while scaling real usage.
- Crucially, elevated activity converts into revenue, showing Solana’s throughput advantage translates into durable economic value, not hollow volume.
Credit: Source link
