21Shares Spotlights Solana’s Breakout Year in New “State of Crypto” Report

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.