New report explores Solana’s rise as the infrastructure layer of next-gen finance
Zurich, 12 May 2025 – 21Shares, one of the world’s largest issuers of cryptocurrency exchange-traded products (ETPs), today announced the release of the 14th edition of its flagship research series, State of Crypto, featuring an in-depth spotlight on Solana.
With ultra-high speed, near-zero fees, and a rapidly expanding ecosystem, Solana has emerged as a leading blockchain powering everything from cross-border payments to AI and decentralised physical infrastructure. The new report explores Solana’s evolution into a real-world financial layer, and why it is fast becoming the blockchain of choice for both developers and institutions.
“Solana is redefining what’s possible with blockchain technology,” said Adrian Fritz, Head of Research at 21Shares. “It combines performance, usability, and scale in a way few networks can match. In this report, we unpack the numbers, the tech, and the trends behind Solana’s rise, and what that means for investors.”
The report includes:
- A detailed comparison between Solana and leading competitors such as Ethereum, Sui, and TON.
- In-depth sector analyses of Solana’s growing ecosystem, including DePIN, AI agents, DeFi innovation, and the memecoin phenomenon.
- A comprehensive valuation framework to evaluate whether Solana is currently undervalued relative to its peers.
- Insights into Solana’s role within a diversified crypto portfolio and how it can enhance broader asset allocation strategies.
Solana now processes over 3,000 transactions per second with transaction fees consistently below $0.01. During peak activity in January, it surpassed $364 billion in on-chain volume, matching the throughput of Nasdaq over the same period. With major integrations from Visa, Shopify, and PayPal, along with emerging innovations like Solana Blinks and the Saga smartphone, Solana is rapidly positioning itself as the foundational infrastructure layer for the next generation of the internet.
The report is available for download here.
About 21Shares
21Shares is one of the world’s leading cryptocurrency exchange traded product providers and offers the largest suite of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21Shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialised research team, proprietary technology, and deep capital markets expertise, 21Shares delivers innovative, simple and cost-efficient investment solutions.
21Shares is a member of 21.co, a global leader in decentralised finance. For more information, please visit www.21Shares.com
Contact: matteo.valli@21shares.com
DISCLAIMER
This report has been prepared and issued by 21Shares AG for publication globally. All information used in the publication of this report has been compiled from publicly available sources that are believed to be reliable, however we do not guarantee the accuracy or completeness of this report. Crypto asset trading involves a high degree of risk. The crypto asset market is new to many and unproven and may have the potential to not grow as expected.
Currently, there is relatively small use of crypto assets in the retail and commercial marketplace in comparison to relatively large use by speculators, thus contributing to price volatility that could adversely affect an investment in crypto assets. In order to participate in the trading of crypto assets, you should be capable of evaluating the merits and risks of the investment and be able to bear the economic risk of losing your entire investment.
Nothing should be considered as an offer by 21Shares AG and/or its affiliates to sell or solicitation by 21Shares AG or its parent of any offer to buy bitcoin or other crypto assets or derivatives. This report is provided for information and research purposes only and should not be construed or presented as an offer or solicitation for any investment. The information provided does not constitute a prospectus or any offering and does not contain or constitute an offer to sell or solicit an offer to invest in any jurisdiction.
Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax, or other advice and users are cautioned against basing investment decisions or other decisions solely on the content hereof.
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