Blockworks Research data also showed Solana's stablecoin supply at a record $15.7 billion and memecoins accounting for about 25% of July DEX volume.
Solana's application layer generated $82.9 million in revenue in July 2026, its strongest monthly total since February, while its 16.5% share of cross-chain network revenue ranked third among tracked blockchains and put it ahead of Ethereum on that metric for the first time in a month. The July data, published by Solana on August 6 citing Blockworks Research and also reported by Coinfomania, followed a July 18 session when Solana briefly led all chains in daily network revenue and preceded an August 4 six-month daily app-revenue high of $4.44 million. Stablecoin supply on the network climbed to a record $15.7 billion, and memecoins made up about 25% of Solana DEX volume as trading accelerated mid-month, with daily DEX activity averaging above $8 billion from July 20 to 23 before easing into a $5 billion to $7.5 billion range. The combination of higher app fees, deeper trading activity and record stablecoin balances suggests July's gains were supported by broad on-chain deployment rather than a single pocket of demand.