Achi (the dog from the famous dogwifhat meme) is seen at the opening bell of the New York Stock Exchange in New York, on January 23, 2025. Dogwifhat (WIF) is a Solana-based dog-themed memecoin that was launched in November 2023. It features a Shiba Inu wearing a knitted hat as its mascot. (Photo by TIMOTHY A. CLARY / AFP) (Photo by TIMOTHY A. CLARY/AFP via Getty Images)
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At around 01:00 UTC on September 15, Solana raised the maximum size of a transaction from 1,232 bytes to 4,096, a change pitched at zero-knowledge proofs and institutional signing schemes. Two hours and nineteen minutes later, an anonymous team registered an X account for a memecoin launchpad built to spend the new room on cartoon pictures.
The domain followed at 03:50. The first token landed at 04:23, three hours and twenty-three minutes after the chain allowed it to exist. The platform, Scribe, writes a token’s artwork into the token itself instead of posting it on a server and linking to it. Bitcoin made that idea famous in 2023 and could not keep it. What is new is that one signature on Solana now does it.
The picture you see in your wallet is almost never on the blockchain.
The workaround everyone forgot was a workaroundAn NFT on Solana is not a special kind of object. It is an ordinary token with a supply of one. The program issuing it has nowhere to record a name, let alone an image, so in late 2021 Metaplex bolted on a second account at an address derived from the token’s own. Inside sits a field called `uri`, capped at 200 bytes. Not a picture. Room for a link to one.
Almost every NFT ever minted on Solana works this way, and so does every major launchpad. A launch on pump.fun uploads the artwork to IPFS and writes the resulting address into the token. The token is permanent but the artwork is a tenancy.
Builders reach for Solana’s newer standard, Token-2022, because it moves this kind of work into the chain itself. Chan Ahn, founder of the platform Tessera, said on the On The Margin podcast that it is why he built there, describing how he collects fees: “It is a standard feature that is available on Solana.” Scribe uses a different extension of the same standard to hold bytes.
What happens when the rent goes unpaidThe failure this guards against is documented. In April 2025 the artwork across Nike’s Clone X collection, more than 19,000 Ethereum NFTs, was replaced by a notice reading “This content has been restricted.” Cloudflare had “decided to move to the Free plan a few days before the end of the contract,” the studio’s head of technology, Samuel Cardillo, said according to Decrypt.
Bitcoin solved this and lost anywayOrdinals, launched in 2023, answered the problem by writing files into Bitcoin transactions directly. It worked: ordinals.com counts more than 127.9 million inscriptions. What it never won was legitimacy on its own chain. On March 4, after three years, a Bitcoin proposal editor closed the request to standardize it: “I am rejecting this proposal to merge Ordinals into the BIP repository and will not be assigning a number.”
“The whole process was incredibly frustrating,” creator Casey Rodarmor wrote on his blog twelve days later.
The commercial retreat came the same month. Magic Eden, which ran the dominant Bitcoin NFT marketplace, ended Ordinals trading on March 9 and turned to Solana, citing costs. “It costs a lot of money to keep an Ordinals business running,” the rival marketplace Ordinals Wallet posted. What remains is thin rather than dead. NodeMonkes, one of the best known Bitcoin collections, still carries a $15 million market value and recorded exactly one sale in the past 24 hours. The NFT market had already rebuilt itself around cheaper chains.
The bytes are actually thereScribe’s claim is checkable without asking Scribe, so I checked it. Querying a public Solana node, I pulled all 344 tokens the platform has launched. In every one the metadata pointer resolves to the mint itself, with no companion account. In 339 the account holds real payload, a median of roughly 8,900 bytes, usually an image encoded straight into the field.
One token, Barren, splits a whole web page across five numbered fields. I concatenated them, decoded the base64, decompressed it and opened the result. A working interactive page, 23,270 bytes, running with no server behind it.
Permanence is charged as a deposit. Solana funds accounts in proportion to their size, so the median Scribe launch locks up about 0.049 SOL, near $5.70, against roughly $2 for an ordinary launch elsewhere.
What the market thinks so farVery little, which is the honest part of the story. Those 344 tokens are the platform’s entire output over eight days, 324 on the first day. Combined trading comes to $2.86 million and eleven have graduated off their bonding curve. Pump.fun collected $1.59 million in fees in a single day this week, and $1.23 billion since it started.
Nor is there evidence of the migration this resembles from a distance. No named Ordinals, BRC-20 or Runes developer is on record moving to Solana, and the most prominent Ordinals researchers spent 2026 proposing changes to Bitcoin. Rival launchpads compete over what sits behind a token rather than what is inside it.
The premise is contested by people who built the industry. Yat Siu, co-founder of Animoca Brands, said on the On The Margin podcast that copying is the mechanism rather than the threat. Asked about someone screenshotting his profile picture: “They’re welcome to. In fact, if they screenshot and basically sort of copy it around, it becomes more famous. The original, which is mine, becomes more valuable.” He reaches for the Mona Lisa. “The fact that so many people take photos of the Mona Lisa is why it’s valuable.”
Siu says Animoca’s Vancouver studio was involved in building CryptoKitties, the collection that opened the market. By his reading the link was never the weak point. He points instead to Pokémon cards traded on-chain, and crypto’s wealthy have been buying them in physical form, where no server is involved at all.
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The counter-argument is the Cloudflare notice.
An idea Bitcoin proved and then could not keep is eight days old on a faster chain, in the hands of an anonymous team, being used mostly for cartoons. That is roughly how the last one started.
Raydium [RAY] has surged by more than 10% to the current trading price at $2.05 over the last 24 hours, significantly outperforming the broader market as new asset integrations strengthen its role in Solana’s [SOL] growing tokenization ecosystem.
The launch of USDv and Injective [INJ] on Raydium is driving fresh activity across the platform, while rising altcoin rotation and strong trading volume provide additional support for the rally.
New integrations strengthen Raydium’s utility The addition of USDv and Injective expands the range of assets available on Raydium and could increase trading activity across the Solana-based decentralized exchange.
These developments arrive as capital continues rotating into altcoins, creating a more supportive environment for RAY and other Solana ecosystem tokens.
As a by-product of the increasing utility, Raydium trading volume across the Futures market has increased significantly. Over the last 24 hours alone, the network’s trading volume has doubled to $185 million.
Source: Santiment The network’s Futures Volume has surged threefold to $25.25 million, with the bulls slightly outweighing the sellers by one percent. The proportion of the leveraged positions in long positions stands at 51%.
Source: CoinGlass The overall market’s derivatives data is supporting the current bullish push. Raydium’s current push is strongly supported by increasing retail orders as the Volume Bubble Map sparks overheating signals across both Spot and Futures markets.
Source: CryptoQuant RAY breaks into new highs On the daily chart, RAY’s price action has also strengthened considerably over the past week, with the token recording a new all-time high of $2.12 at yesterday’s market close.
The latest 10% daily gain extends that breakout and keeps RAY firmly above its previous high. The only obstacle against the current bullish advance stands at the local high at $2.12.
That being the case, a sustained trading volume will now be key for determining whether buyers can maintain the momentum at these elevated levels.
But with the new asset integrations increasing Raydium’s utility and broader altcoin rotation supporting risk appetite, the market is now watching whether RAY can extend its breakout and establish another rally.
Source: TradingView Final Summary RAY surges by more than 10% to $2.05 after new USDv and Injective integrations boosted activity on Raydium. Raydium reached a new all-time high of $2.12 as altcoin rotation and strong trading activity support the breakout.
Solana has launched Frontier Traders Season 1, an eight-week perpetual futures trading competition designed to increase engagement across its growing derivatives ecosystem.
The program offers more than $1 million in rewards, including a Porsche 911 GT3 RS or $250,000 in cash for the final winner. The competition runs from September 21 to November 7, with traders competing for leaderboard rankings, weekly prizes, and the title of Frontier Traders World Champion at Solana Breakpoint in London.
A Network-Wide Push for Perps Adoption On September 15, Solana introduced Frontier Traders as a network-wide program that tracks trading activity across 16 venues. The initiative gives traders access to rewards, VIP tiers, and a global trading community based on their activity across Solana markets.
Season 1 focuses on perpetual futures trading through Phoenix Trade and Solflare. Traders can compete through a global leaderboard where eligible perpetual volume and profit-and-loss performance determine rankings.
The program also introduces a crate system. Every eligible dollar traded in perpetuals counts toward unlocking rewards:
Eight finalists will compete in London during the competition's final stage.
Solana Targets Fully Onchain Derivatives The Frontier Traders launch follows a broader Solana Foundation push to expand fully onchain perpetual futures markets.
The foundation argues that many existing perps platforms rely on centralized exchanges, offchain sequencers, or hybrid architectures. It wants developers to build derivatives platforms where order submission, matching, oracle updates, cancellations, and settlement happen fully onchain.
The foundation is supporting teams building fully onchain execution systems, competitive price discovery through orderbooks, RFQ systems and other market structures, Solana-first applications, open-source trading infrastructure, and new derivatives products and trading interfaces.
Solana Still Trails Major Perps Venues Despite its push, Solana still trails leading perpetual futures platforms in trading volume. In September, total perpetual futures volume across tracked networks reached approximately $401.86 billion, according to DefiLlama data. Solana accounted for $34.01 billion, representing about 8.4% of total volume. Hyperliquid led with $171.7 billion during the same period.
Recent developments aim to close that gap.
Velocity opened its beta to all users, supporting $wBTC, $wETH, $SOL, and $USDT as collateral. The platform is offering 2 basis point fees for a limited period. Formerly known as Drift Protocol, the platform hopes to make users affected by the April 1 exploit whole through revenue generated by its rebrand.
Imperial also opened beta access for Armada on September 20. Armada is a Solana-based proprietary perpetuals AMM that connects users to external liquidity through Imperial’s infrastructure. It supports perpetual markets across crypto, equities, commodities, foreign exchange, and pre-IPO companies.
Phoenix recently added $SOL as collateral for perpetual trading, allowing users to maintain SOL exposure while using it as margin. Previously, $SOL holders had to convert their assets into stablecoins before trading perpetuals. Phoenix’s multicollateral system allows users to deposit $SOL directly, with $SOL receiving an 80% collateral weight compared with $USDC’s 100%.
The move represents another step toward making assets on Solana more productive within its financial ecosystem.
Meanwhile, BULK, another Solana perps venue, announced that it has processed $500 million in volume on its invite-only mainnet.
The Race for Solana Perps is Accelerating Frontier Traders puts Solana’s derivatives ambitions directly in front of traders by combining competition, incentives, and ecosystem growth.
The program arrives as Solana developers continue building new approaches to onchain perpetual markets. These efforts aim to significantly increase Solana’s share of global perps volume, depending on liquidity, user adoption, execution quality, and these platforms' ability to compete with established venues.
Read More on SolanaFloor Solana Foundation Strengthens Roster with New Appointments in Institutional Growth and Payments
Forward Industries Eyes More $SOL With $25M Raise After Amassing 1.39% of Solana's Supply
The frog-themed Solana token $FWOG (@itsafwog) is bucking a broad memecoin sell-off, posting a 22% gain in the past 24 hours and a 58% surge over the past week, even as the wider market faces heavy losses.
A Rally Against the Tide The move stands out against a difficult backdrop. Solana's memecoin ecosystem has shed roughly $250 million in market value over the past 24 hours, while the broader memecoin market has lost approximately $2.4 billion during the same period. That kind of divergence is unusual and has drawn attention to FWOG as one of the few tokens posting meaningful gains in the current environment.
The wider memecoin downturn on Solana fits a pattern that has been building for much of 2026. According to a report by 21Shares, The fading of memecoin activity has weighed on the network's revenue, even as Solana's underlying infrastructure has continued to develop.
What Is FWOG? FWOG is a community-driven token whose appeal is rooted in meme culture and its online following.
As with all memecoins, the risks are significant.
Sources:
CoinGecko: Fwog (FWOG) Price and Market Data
21Shares: Solana H1 2026 Earnings Analysis
Bitrue: Fwog (FWOG) - The Solana Meme Coin Reshaping the Crypto Market
SOL is trading near $120, its highest level in nine months, and the ripple effects are showing up in an unexpected corner of the market: Nasdaq-listed companies that decided to stuff their balance sheets with the token.
The corporate SOL playbook Forward Industries (NASDAQ: FWDI) sits atop the public-company SOL leaderboard, holding between 7.55 and 8.16 million tokens. At current prices, that stash is worth roughly $900 million to just under $1 billion. The company announced a $25 million common stock offering on September 23 to purchase even more SOL.
Solana Company (NASDAQ: HSDT) holds approximately 2.06 to 2.3 million SOL. The firm built that position after raising around $500 million via a PIPE transaction in 2025, making it one of the more aggressive corporate accumulators in the space.
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DeFi Development Corp. maintains a treasury of roughly 2.39 to 2.49 million SOL, while Upexi holds between 2.17 and 2.34 million tokens. Collectively, tracked public companies now hold over 17 million SOL in their treasuries. At $120 per token, that’s more than $2B in aggregate digital asset exposure sitting on corporate balance sheets.
The gains and the pain Solana Company reported a $130.1 million net loss for the first half of 2026, driven by unrealized losses on its SOL holdings from earlier price drawdowns.
What’s driving SOL higher US spot Solana ETFs have pulled in over $200 million in inflows, with consecutive weeks of positive net flows supporting price momentum. Derivatives traders are positioning for further upside, with analyst price targets for SOL spanning from $130 on the conservative end to $500 for the most bullish forecasts.
The broader Solana ecosystem has also been expanding, with tokenized equities and other real-world asset applications adding utility beyond pure speculation. More on-chain activity generally translates to more demand for SOL, since the token is required to pay transaction fees on the network.
What to watch from here The key risk is concentration. When publicly traded companies hold over 17 million SOL and keep raising capital to buy more, any forced selling — whether from margin calls, shareholder pressure, or regulatory changes — could create a cascading liquidation event.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Appointments strengthen institutional growth and payments leadership as more financial activity moves onto Solana
, /PRNewswire/ -- Solana Foundation, a non-profit dedicated to the decentralization, growth, and security of Solana, today announced the appointment of Rachel Conlan as Chief Strategy Officer and Jamal Raees as General Manager of Payments. Appointments strengthen institutional growth and payments leadership as more financial activity moves onto Solana.
Solana Foundation's Chief Strategy Officer, Rachel Conlan, and GM of Payments, Jamal Raees. These appointments reflect the maturation of the Solana ecosystem and come at a point of step-change in onchain activity. In 2026 alone, Solana has processed more than $5 trillion in stablecoin volume. Real-world assets on the network have surpassed $4.5 billion, while tokenized equity supply has crossed $620 million. Payments, treasuries, funds and equities are moving beyond experimentation and into production on Solana — operating globally, 24 hours a day.
That shift has a name: the Token Supercycle - the long-term migration of money, assets and ownership onto always-on internet infrastructure. It is the thesis behind Internet Capital Markets, where any asset can be issued, traded and settled natively on the internet, and where market access is defined by connectivity rather than by geography or institutional tier.
Conlan's remit is to convert that thesis into adoption: leading strategy across institutional partnerships, ecosystem growth and the go-to-market that brings Solana's infrastructure to the companies and users who will run on it. She joins from Binance, where she spent three years as Global Chief Marketing Officer, and previously held senior leadership roles at OKX, CAA Sports and Havas.
Raees will build on Solana's existing momentum in payments as General Manager of Payments, working with payment companies, enterprises and the broader ecosystem to expand the adoption and reach of Solana as global payments infrastructure. He joins from Polygon Labs, and previously held roles at Bridge and Wyre.
"The Solana ecosystem is growing in both scale and ambition. We're in the early innings of the Token Supercycle, where all assets and financial activity become native to the internet, enabling markets that are faster, more accessible and always on," said Lily Liu, President, Solana Foundation. "Exceptional leaders choose Solana because they want to be close to what's being built. Rachel brings deep experience translating complex technology into something people actually adopt, while Jamal brings years of experience building payment infrastructure and working with enterprises on the future of money. That is the work in front of us. The question is no longer whether markets move onchain — it's how fast, and onto whose infrastructure."
"What brought me to Solana was the ambition of the builders and how much it is already being put to use," said Rachel Conlan, Chief Strategy Officer, Solana Foundation. "The opportunity now is to bring that to a much wider audience. That means making the value clear, building the right institutional relationships and helping businesses move from interest to implementation."
"Payments are one of the clearest areas where blockchain infrastructure is moving from promise to production," said Jamal Raees, GM Payments, Solana Foundation. "Solana has the performance, reliability and developer ecosystem to support payments at global scale. Solana has moved beyond crypto into technology for finance, and I'm eager to bring Solana to enterprises and payment companies around the world."
These appointments are the latest in a growing number of senior operators choosing to join and build within the Solana ecosystem. Earlier this year, Michael Coates joined the Solana Foundation as Chief Information Security Officer, bringing senior security expertise from Mozilla and Twitter.
About Solana Foundation
Solana Foundation is a non-profit based in Zug, Switzerland, dedicated to the decentralization, growth, and security of Solana. For more information, please visit https://solana.org
The Solana Foundation is bolstering its ranks with new talent, appointing Rachel Conlan as Chief Strategy Officer and Jamal Raess as General Manager of Payments.
Drawing on their experience and expertise, Conlan and Raess will help guide Solana’s growth trajectory as the network affirms its position as an institutional powerhouse, while expanding its thriving global payments network.
The appointments come as Solana’s economic activity hits breakout velocity, drawing TradFi titans like MoneyGram and Western Union into its onchain orbit.
Solana Foundation Doubles Down on Growth With Solana gaining considerable traction across both TradFi and DeFi economies, the Solana Foundation is strengthening its lineup to help drive growth and adoption. After a three-year stint at Binance as the Global CMO of crypto’s biggest exchange, Rachel Conlan joins the Solana Foundation as Chief of Strategy.
Conlan will help position Solana as crypto’s leading venue for onchain economic activity, focusing on institutional partnerships, ecosystem growth, and GTM for both businesses and users.
“What brought me to Solana was the ambition of the builders and how much is already being put to use. The opportunity now is to bring that to a much wider audience. That means making the value clear, building the right institutional relationships and helping businesses move from interest to implementation.” - Rachel Conlan, Chief Strategy Officer, Solana Foundation
Meanwhile, Jamal Raess will lead Solana’s push to become the industry’s leading payments provider. Drawing on his experience and expertise from previous roles at Polygon Labs, Bridge, and Wyre, Raess will collaborate with payment firms and enterprises to showcase Solana’s capacity as a global-scale payments platform.
“Payments are one of the clearest areas where blockchain infrastructure is moving from promise to production. Solana has the performance, reliability and developer ecosystem to support payments at global scale. Solana has moved beyond crypto into technology for finance, and I’m eager to bring Solana to enterprises and payment companies around the world." - Jamal Raees, GM Payments, Solana Foundation
The Foundation’s most recent appointments come as the network affirms its position as crypto’s leading venue for mass tokenization on truly decentralized rails.
The Token Supercycle By the numbers, Solana has had an incredible year. Stablecoin activity on the network is enjoying strong demand, with Solana processing over $5T in stablecoin volume. Buoyed by the launch of native stablecoins from household names like Western Union ($USDPT) and SoFi ($SoFiUSD), Solana’s stablecoin supply has surged past $15B.
Agentic payments are also on the rise. According to Artemis Data, Solana now leads all chains in x402 payments, commanding over 50% of market share.
Beyond digital dollars, Solana’s flourishing RWA sector is enjoying exponential growth. The value of Solana’s total RWA market now exceeds $4.5B, led by strong demand for tokenized stock trading.
At press time, over 929,000 wallets now hold equities onchain, with DeFi markets processing over $1.1B in weekly volume across all tokenized assets.
"The Solana ecosystem is growing in both scale and ambition. We're in the early innings of the Token Supercycle, where all assets and financial activity become native to the internet, enabling markets that are faster, more accessible and always on. Exceptional leaders choose Solana because they want to be close to what's being built. Rachel brings deep experience translating complex technology into something people actually adopt, while Jamal brings years of experience building payment infrastructure and working with enterprises on the future of money. That is the work in front of us. The question is no longer whether markets move onchain — it's how fast, and onto whose infrastructure.” - Lily Liu, President, Solana Foundation.
Solana isn’t the only entity to see the inherent value of mass tokenization. BlackRock CEO Larry Fink considers the tokenization of assets to be a key megatrend that could reshape the financial services in the near future.
As a sufficiently decentralized, hyper-performant ledger, Solana is crypto’s best-suited network for global-scale tokenization. Even with crypto markets still far from the attention peaks of Q1 January, Solana is consistently witnessing new all-time highs in daily transaction activity.
Last week, Solana processed more weekly trades than the New York Stock Exchange, highlighting the chain’s growing scale. With upcoming network upgrades like a final slot time reduction to 200ms and October’s Alpenglow update, Solana’s performance is expected to reach even greater heights before the end of the year.
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In brief Rachel Conlan joins the Solana Foundation as chief strategy officer after three years as Binance's global chief marketing officer. Jamal Raees becomes general manager of payments, arriving from Polygon Labs. The appointments come as Solana cuts block times, with the third of four planned reductions taking effect last week. The Solana Foundation has hired Binance's former global chief marketing officer as its chief strategy officer, and a Polygon Labs executive to run payments, as the non-profit builds a senior team focused on institutional adoption and payments.
Rachel Conlan spent three years as Binance's global CMO and previously held senior roles at OKX, the sports agency CAA Sports and the advertising group Havas. Her brief covers institutional partnerships, ecosystem growth and go-to-market, the Foundation said.
Jamal Raees joins as general manager of payments from Polygon Labs, having previously worked at the stablecoin infrastructure firm Bridge and the payments company Wyre. He will work with payment companies and enterprises on expanding Solana's use as payments infrastructure.
Myriad: SOL next move: Pump to $160 or Dump to $40? Click to make your prediction.Solana's "Token Supercycle"Solana has processed more than $5 trillion in stablecoin volume so far in 2026, according to the Foundation, with real-world assets on the network passing $4.5 billion and tokenized equity supply crossing $620 million.
The Foundation frames the shift as a "Token Supercycle," its term for the migration of money, assets and ownership onto always-on infrastructure, and as the basis for what it calls Internet Capital Markets, where assets are issued, traded and settled natively online. Solana developers set out a roadmap under that banner in July 2025, aimed at reworking the network's market structure to host the most liquid markets.
"The question is no longer whether markets move onchain," said Lily Liu, president of the Solana Foundation, but "how fast, and onto whose infrastructure."
The hires land while the network itself is being rebuilt underneath. Solana cut its target slot time to 250 milliseconds last week, a nearly 17% speedup in how often blocks are produced and the third of four planned reductions, with a separate consensus overhaul in testing to shorten the point at which a payment can no longer be reversed.
Conlan and Raees follow Michael Coates, who joined as chief information security officer earlier this year from Mozilla and Twitter.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Rachel Conlan joins the Solana Foundation as chief strategy officer after three years as Binance's global chief marketing officer. Jamal Raees becomes general manager of payments, arriving from Polygon Labs. The appointments come as Solana cuts block times, with the third of four planned reductions taking effect last week. The Solana Foundation has hired Binance's former global chief marketing officer as its chief strategy officer, and a Polygon Labs executive to run payments, as the non-profit builds a senior team focused on institutional adoption and payments.
Rachel Conlan spent three years as Binance's global CMO and previously held senior roles at OKX, the sports agency CAA Sports and the advertising group Havas. Her brief covers institutional partnerships, ecosystem growth and go-to-market, the Foundation said.
Jamal Raees joins as general manager of payments from Polygon Labs, having previously worked at the stablecoin infrastructure firm Bridge and the payments company Wyre. He will work with payment companies and enterprises on expanding Solana's use as payments infrastructure.
Myriad: SOL next move: Pump to $160 or Dump to $40? Click to make your prediction.Solana's "Token Supercycle"Solana has processed more than $5 trillion in stablecoin volume so far in 2026, according to the Foundation, with real-world assets on the network passing $4.5 billion and tokenized equity supply crossing $620 million.
The Foundation frames the shift as a "Token Supercycle," its term for the migration of money, assets and ownership onto always-on infrastructure, and as the basis for what it calls Internet Capital Markets, where assets are issued, traded and settled natively online. Solana developers set out a roadmap under that banner in July 2025, aimed at reworking the network's market structure to host the most liquid markets.
"The question is no longer whether markets move onchain," said Lily Liu, president of the Solana Foundation, but "how fast, and onto whose infrastructure."
The hires land while the network itself is being rebuilt underneath. Solana cut its target slot time to 250 milliseconds last week, a nearly 17% speedup in how often blocks are produced and the third of four planned reductions, with a separate consensus overhaul in testing to shorten the point at which a payment can no longer be reversed.
Conlan and Raees follow Michael Coates, who joined as chief information security officer earlier this year from Mozilla and Twitter.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
The Solana Foundation has appointed Rachel Conlan, former global Chief Marketing Officer at Binance, and Jamal Raees, as it seeks to bolster its institutional and payments strategy. Conlan takes on the role of chief strategy officer, while Raees steps in as general manager of payments. The strategic hires come as Solana, a blockchain platform known for its high throughput, is looking to expand its reach within institutional markets. This move is seen as a part of Solana’s broader efforts to enhance its ecosystem and increase adoption. Solana’s price remained steady at around $115 following the announcement, suggesting that market participants are assessing the potential long-term impact of these hires.
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Key Takeaways The hiring of Rachel Conlan appears to suggest Solana’s strategic focus on increasing institutional adoption. Market pricing implies a cautious interpretation of the immediate impact on Solana’s price, with prices remaining stable. The move is consistent with Solana’s efforts to strengthen its infrastructure and broaden its market appeal. What to Watch Observers will be monitoring whether the appointments at Solana Foundation lead to increased engagement from institutional investors. Any signs of significant partnerships or expansions in payment solutions could align with a supportive outcome for Solana’s market position. Additionally, developments in the broader cryptocurrency market, such as regulatory news or shifts in major cryptocurrencies, could influence Solana’s trajectory in the coming weeks.
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Term Structure
Contract Odds Δ since publish Volume 24h October 1 2026 0.4% — — View market → October 1 2026 0.5% — — View market → October 1 2026 0.9% — — View market → October 1 2026 1.6% — — View market → October 1 2026 2.6% — — View market → October 1 2026 5.1% — — View market → October 1 2026 13% — — View market → October 1 2026 49.2% — — View market → October 1 2026 1.7% — — View market → October 1 2026 1.5% — — View market → October 1 2026 1% — — View market → October 1 2026 0.5% — — View market → October 1 2026 0.3% — — View market → October 1 2026 0.1% — — View market → October 1 2026 0.1% — — View market → October 1 2026 0.1% — — View market → October 1 2026 0.1% — — View market →
The Solana Foundation has announced the appointment of Rachel Conlan as Chief Strategy Officer and Jamal Raess as General Manager of Payments. These appointments are intended to bolster the network’s growth and development, particularly in institutional adoption and payments. The Solana blockchain has seen increasing activity in stablecoin settlements and institutional use cases, aligning with the foundation’s strategic direction. While the announcement was made via a social media account, it highlights Solana’s ongoing efforts to enhance its ecosystem.
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Key Takeaways The new appointments at Solana Foundation suggest a focus on expanding institutional growth and payment solutions. Current market dynamics appear to reflect cautious optimism about Solana’s potential to reach higher price levels in September. Market pricing suggests participants are slightly more supportive of a YES outcome for Solana reaching $120, with a 49.2% probability. What to Watch Observers will be monitoring any further developments in Solana’s institutional partnerships and payment integrations. The appointments of Conlan and Raess could indicate plans for new strategic initiatives. Observers will also watch for any external factors, such as regulatory news or macroeconomic shifts, that might influence Solana’s price movement and overall market sentiment. The probability of reaching the $200 mark in September remains low, but any significant positive developments could shift market expectations.
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Term Structure
Contract Odds Δ since publish Volume 24h October 1 2026 0.4% — — View market → October 1 2026 0.5% — — View market → October 1 2026 0.9% — — View market → October 1 2026 1.6% — — View market → October 1 2026 2.6% — — View market → October 1 2026 5.1% — — View market → October 1 2026 13% — — View market → October 1 2026 49.2% — — View market → October 1 2026 1.7% — — View market → October 1 2026 1.5% — — View market → October 1 2026 1% — — View market → October 1 2026 0.5% — — View market → October 1 2026 0.3% — — View market → October 1 2026 0.1% — — View market → October 1 2026 0.1% — — View market → October 1 2026 0.1% — — View market → October 1 2026 0.1% — — View market →
Rachel Conlan is joining as strategy chief, while Jamal Raees will serve as general manager of payments (Solana Foundation)Summary
Former Binance marketing chief Rachel Conlan joins the Solana Foundation as chief strategy officer, while Polygon Labs veteran Jamal Raees will lead payments.The hires come as Solana courts financial institutions building with stablecoins, payments, tokenized funds and other real-world assets.The appointments fit President Lily Liu's “Token Supercycle” thesis that money, assets and ownership will increasingly migrate to always-on internet infrastructure.The Solana Foundation has appointed former Binance executive Rachel Conlan as its new chief strategy officer, adding a high-profile crypto industry veteran as the Solana (SOL) blockchain makes a bigger push into institutional finance and tokenized assets.
Conlan will lead strategy across institutional partnerships, ecosystem growth and efforts to bring more companies onto Solana, the foundation said Thursday. She spent previously three years at Binance, most recently as global chief marketing officer, before leaving the crypto exchange in June.
The foundation also hired Jamal Raees as general manager for payments. Raees joins from Polygon Labs, the development organization behind the Polygon network (POL), and previously worked at stablecoin infrastructure firm Bridge (now part of Stripe) and crypto payments firm Wyre. He will focus on getting payments companies and other businesses to use Solana for moving money.
The appointments come as Solana increasingly courts traditional financial firms and positions its network as infrastructure for more than crypto trading. Stablecoin payments, tokenized funds and equities have become a bigger part of that pitch as financial institutions experiment with moving assets and settlement onto public blockchains.
Earlier this month, Solana Foundation President Lily Liu laid out what she called the “Token Supercycle,” making the case of a long-term migration of money, assets and ownership onto always-on blockchain infrastructure. The idea is that more financial activity, from payments to securities, will eventually move onto networks that operate continuously rather than within traditional market hours.
The Solana chain has processed more than $5 trillion in stablecoin volume so far this year, Allium data shows. Meanwhile, tokenized assets on the network reached $4.5 billion, according to RWA.xyz, including more than $600 million in stocks, according to data by Blockworks.
“The opportunity now is to bring that to a much wider audience,” Conlan said in a statement. “That means making the value clear, building the right institutional relationships and helping businesses move from interest to implementation.”
12345678910The Definitive Stablecoin Landscape Series: Asia Pacific
The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Sep 15, 2026
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
The crypto market today, September 24 is retreating as rising US bond yields weigh on risk appetite. By midday UTC, crypto market capitalization stood near $2.83 trillion, down about 3.15% over 24 hours.
Bitcoin slipped below $84,000, while Ether, XRP and Solana gave back gains from this week’s rally.
The reversal follows rising borrowing costs and renewed inflation concerns. Traders also unwound leveraged positions, adding pressure across major tokens.
Bitcoin, Ether, XRP and Solana Retreat Bitcoin price traded around $83,400, down 2.5% in a day. BTC had climbed close to $87,300 earlier this week before losing momentum. The move erased part of a rally that had taken Bitcoin to its highest level since January. A drop beneath $85,000 then exposed the market to faster selling.
Coin360 data Ether changed hands near $2,640, about 3% lower over 24 hours. Its daily high was about $2,729, putting the token nearly $90 below that mark. XRP fell roughly 6% to $1.47 after reaching $1.58 during the previous day. Solana traded near $113, down about 3% after a daily high around $117.
XRP’s steeper retreat suggests traders were taking profits after its recent advance. The synchronized declines across the four assets point to a shift in sentiment.
Rising Yields Put Pressure on the Crypto Market US Treasury yields rose sharply Wednesday after strong business activity data raised fresh questions about interest rates. S&P Global’s preliminary composite purchasing managers’ index reached 58.4 in September, up from 56.0 in August. The survey also found business costs rising at their fastest pace in nearly four years.
🚨 THIS IS INSANE.
US 30-year bond yield just hit 5.402%, its highest level in 22 years.
It has been trading above 5% for 79 straight days now, the longest stretch since 2007. https://t.co/2MF0BfXStO pic.twitter.com/qnTlGQXAhW
— Bull Theory (@BullTheoryio) September 24, 2026
The benchmark 10-year Treasury yield closed Wednesday at 5.11%, up from 4.96% Tuesday. The 30-year yield reached 5.40%, according to Treasury data. Higher bond returns can reduce the appeal of assets that do not pay interest, including Bitcoin.
Oil climbed above $105 a barrel as tensions involving Iran kept inflation concerns alive. A firmer dollar and weaker appetite for risk added to the pressure on crypto prices. A poorly received Treasury auction also added to the bond market selloff.
Liquidations Deepen the Selloff Leveraged trading magnified the decline once Bitcoin began falling away from its high. CoinGlass data cited in market reports showed roughly $454 million in long positions liquidated over 24 hours. Such liquidations force exchanges to close losing bets, potentially accelerating a move already underway.
Coinglass data The retreat came shortly after spot Bitcoin ETF inflows helped support this week’s advance. That contrast shows how quickly macroeconomic pressure can overwhelm bullish trading momentum. The crypto market remains sensitive to changes in yields, inflation expectations and the dollar’s direction.
Bitcoin’s next test is whether it can stabilize above $83,000 after slipping through $85,000. Ether remains below $2,700, while XRP has given up $1.50 and Solana holds near $113. Continued pressure in bond markets could leave any recovery uneven, even after forced selling subsides.
Solana Foundation announced two key personnel appointments today. Former Binance executive Rachel Conlan has been named Chief Strategy Officer, while former Polygon Labs executive Jamal Raees will serve as General Manager of Payments. Conlan will oversee institutional partnerships and ecosystem growth strategy; she previously worked at Binance for three years, and held senior management positions at OKX, CAA Sports, and Havas. Raees will collaborate with payment companies, enterprises, and the broader ecosystem to drive the adoption and expansion of Solana as a global payment infrastructure. Solana Foundation President Lily Liu stated: “Solana’s ecosystem is growing in both scale and ambition. We are in the early stages of the token supercycle, where all assets and financial activities will natively migrate to the internet, making markets faster, more accessible, and operational around the clock.” This year, Solana has processed over $5 trillion in stablecoin trading volume, with on-chain real-world assets exceeding $4.5 billion, and tokenized stock supply surpassing $620 million. Liu emphasized: “The question is no longer whether the market will migrate on-chain, but how quickly and to whose infrastructure.”
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Ripple CEO Brad Garlinghouse pushed back on the idea that he only backs XRP, when asked in a recent interview why someone should choose XRP over top coins like Solana and hold it for the next five years.
“I’m not one of these people who’s an XRP maximalist,” Garlinghouse said. “I’m bullish on a bunch of cryptos, for a bunch of reasons.” He added that he isn’t trying to convince anyone to buy XRP over other top five cryptocurrencies, and that his focus is on solving real problems rather than pushing one token.
XRP As A Tool, Not A Belief System
Garlinghouse pointed to cross-border payments as an example of where XRP earns its place. He said Ripple’s goal is to solve payment problems, like moving money into the Philippines, and that XRP could be the best bridge asset for that job. He also noted that a stablecoin could work for the same purpose, depending on what actually gets the job done for customers.
He referenced Ripple’s institutional business as proof the approach is working, saying the company has been minting a meaningful share of stablecoin-related volume and has grown into one of the larger players in that market, a result he described as something the team is genuinely happy with.
Garlinghouse’s comments reflect a broader position he has taken publicly before, that Ripple’s strategy is built around usefulness in real payment flows rather than convincing retail investors to bet everything on one coin. For him, the choice between XRP and other assets like Solana comes down to which one actually solves a specific problem, not brand loyalty to any single cryptocurrency.
As for the price, at the time of writing, XRP is down 6%, trading below the $1.50 level.
Story Ends Here
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Solana has reached a significant milestone by surpassing the 1 million mark in the number of tokenized stock holders. This achievement is considered a science fiction feat just two years ago. Solana holds approximately 95% market share in on-chain tokenized stock trading and continues to outperform its competitors in this area.
Solana’s Rise in Numbers The supply of tokenized shares on Solana reached a record high of $684 million in mid-September, representing a 47% increase in just three weeks. During the same period, the 30-day real-world asset trading volume reached $3.3 billion. Among Solana’s tokenized shares, NVDAx, a tokenized representation of NVIDIA shares, leads in holder numbers. New listings like Nike have accelerated this trend, moving beyond technology-heavy portfolios. Furthermore, integration with platforms like Pump.fun has attracted users who previously lacked access to tokenized shares.
The Meaning of Tokenized Shares Tokenized shares, as blockchain-based tokens, represent ownership or exposure to traditional shares. These tokens are traded on-chain, exchanged almost instantly, and are accessible 24/7. On Solana, primary issuers like xStocks distribute them through networks like Backpack Securities.
Points to Consider While the figure of 1 million seems impressive, this number measures wallet addresses, not verified unique individuals. A person may have multiple wallets, and incentive programs can inflate these numbers. As of the end of September, the verified number was recorded as 900,000. Furthermore, the composition of these wallets is also important.
If the majority of growth is driven by users holding almost insignificant positions, the headline figure might appear more impressive than the underlying economic activity warrants. However, supply and volume figures tell a more solid story; a total supply of $684 million and a monthly volume of $3.3 billion reflect the true flows of capital.
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Solana price traded near $114 on Thursday, down 1.5% over 24 hours, as a crypto retreat interrupted its recent rally.
The token gained more than 13% before the reversal, while total crypto market value fell 2.42% to $2.84 trillion. Bitcoin dipped below $84,000, Ethereum fell below $2,700, and XRP fell 5% during the pullback.
Risk assets were impacted by rising rates, a stronger dollar, and Solana’s network milestone. Those factors tempered buying interest in improved transaction finality as the U.S. 30-year Treasury yield hovered around 5.4% on Wednesday, data from the U.S. Treasury showed.
Alpenglow Upgrade Nears Public Testnet Activation Solana’s Alpenglow upgrade is approaching public testnet activation as validators adopt Anza’s Agave 4.3 software. On September 21, Anza proposed to adopt broad mainnet validators after staged deployments. The operators who manage 10% and then 25% of staked SOL were asked to upgrade first.
The new design introduces the change of TowerBFT with Votor which enables validators to vote directly and finalize blocks quickly. The developers aim to achieve finality in about 150 milliseconds, which is lower than the current level of about 12.8 seconds. That would be roughly 85 times faster as long as it actually achieves the performance levels that’ve been predicted.
🚨JUST IN: Alpenglow, @Solana’s biggest consensus change in history, is set to go live on the testnet in less than 6 hours.
The new system could make Solana transaction finality 85× faster, cutting it from around 12.8 seconds to 150 milliseconds. pic.twitter.com/ob3OX7CwuN
— SolanaFloor (@SolanaFloor) September 24, 2026
Quicker finality would reduce the time required for deposits on exchanges and aid in the processing of transfers with reduced time delay by bridges. It might enhance settlement for decentralized apps, but that is contingent upon the successful roll-out.
The tracker on Anza’s tracker still had testnet activation pending for Alpenglow in its most recent publication. Agave is the only client that is supported during this initial testnet migration, with Firedancer and Frankendancer not supported yet. This September 28 milestone is not for a confirmed mainnet launch of Alpenglow, but rather for the broader activation of Agave features.
Solana ETFs Draw $13.77 Million as Fidelity Leads Inflows The U.S. spot Solana ETFs attracted $13.77 million in net inflows on September 23, according to SoSoValue data. Fidelity’s FSOL raised $6.74 million, while Bitwise’s BSOL raised $3.94 million.
Source: Sosovalue data Morgan Stanley’s MSOL saw an inflow of $1.55 million, and VanEck’s VSOL raised $1.54 million. The total assets amounted to $1.73 billion, which is 2.58% of Solana’s market value. The daily volume of the trading was $130.47 million, and the net inflows totaled $1.49 billion.
Will Solana Price Hold $110 After Its Pullback From $120? The SOL price traded at $114.97 on the four-hour chart, down1.43% during the latest candle.
Solana price bounced above $110 after retesting the $120 resistance zone. The SOL price is hovering around $115, as traders assess if the recent rally will continue.
Solana has been on an upward trajectory since last week, when it was trading at approximately $97, and hit nearly $120 before it stalled. The SOL price has surged over $110, which is now considered to be a support level on the chart. The price of recent candles was under $120.
Source: TradingView The four-hour Relative Strength Index (RSI) was at 52.39, down from readings above 70. This brings momentum toward the neutral level, but not into the oversold zone.
The MACD line was at 0.92 and under its 1.66 signal line. Its histogram was at minus 0.74, indicating weak upward momentum even as SOL remained above support.
A move above $115.42, the latest candle’s high, could bring $120 back into view as per the future Solana outlook. However, should Solana price drop below $110, the next notable levels would be around $105 and $100.
Injective has brought $INJ to Backpack Wallet on Solana, giving users the ability to hold, send, receive, and swap the token directly through the wallet. The move is part of a broader push by Injective to establish a native presence on Solana rather than relying on wrapped or bridged representations of the token.
A Native SPL Token, Not a Bridge Workaround
Sunrise, built by Wormhole Labs, acts as a unified token gateway for Solana. Rather than letting each bridge produce its own wrapped representation of INJ with separate mint addresses and fragmented liquidity, Sunrise creates one universally recognised SPL token address per asset.
Expanding Access Across Solana Apps The Backpack Wallet integration is one piece of a wider rollout.
The Backpack Wallet listing adds a consumer-facing entry point to that multi-chain footprint, connecting Injective's liquidity to one of Solana's most prominent wallet interfaces.
Sources:
Crypto Briefing: Injective Protocol's INJ token goes live on Solana via Sunrise and Backpack Securities
Solana Compass: INJ Token Live on Solana via Sunrise, Now Trading on Raydium and Meteora
Crypto Times: Injective's INJ Token Surpasses $7.50 After Solana Expansion and ETF Filing
$1.1 million in fees in 24 hours for Solana, versus $649,423 for Ethereum. Over 30 days, the same scenario: $23.58 million against $12.04 million. On paper, Solana thus takes the lead. Then the burn comes to blur the cards. Ethereum destroyed $2.80 million in tokens over the period, versus $2.66 million for its rival. The fees tell one story. The burn tells another.
In brief Solana dominates fees: $23.58M generated over 30 days, almost twice as much as Ethereum. The burn changes the game: Ethereum burns $2.80M, slightly ahead of Solana’s $2.66M. Two opposing economies: Solana relies on activity, Ethereum maintains massive capital depth. Samani bets on SOL: the Multicoin co-founder sees Solana surpass Ethereum in market cap during this cycle. The real test remains open: adoption, capital, and captured value will show if activity turns into lasting gains. Solana is turning network activity into serious fee revenue Solana is no longer much of an underdog from a few years ago. September’s numbers tell the story of a network running at full speed: 3.04 million active addresses and 113.95 million transactions over the studied period. On the decentralized exchanges side, the seven-day volume reaches $16.61 billion, against $9.03 billion for Ethereum.
These are considerable volumes, but they do not yet allow us to know who actually benefits from this activity.
Over thirty days, users generated $23.58 million in fees on Solana. Yet, only $2.66 million was accounted as burn. Why such a gap?
The detail is in the plumbing. The base fee is 5,000 lamports per signature. Half is burned. The other half goes to the validator. And when users pay more to get ahead of others, priority fees also go to the validator. This is an important difference. A network can experience huge pressure without seeing its burn keep pace.
Applications also contribute to this frenzy: $7.7 million in revenue in 24 hours within the studied snapshot. The blockchain makes a lot of noise. The question now is what this noise really brings to the token.
Ethereum still holds the deeper pool of capital Meanwhile, capital remains massively concentrated on Ethereum. DeFi represents $51.53 billion in TVL there, against $6.13 billion on Solana. For stablecoins, the gap is even wider: $146.94 billion versus $15.40 billion.
The same observation applies to tokenized real-world assets. There is $13.50 billion on Ethereum, against $1.58 billion on Solana.
These are markets very different from simple transactions. Some of this capital serves as liquidity. Some serves as collateral. Some is locked into protocols for weeks or months. That is why fee levels are not enough to measure the footprint of a network.
The burn adds an additional layer. Over 30 days, the reported burn reaches $2.80 million, slightly ahead of Solana’s $2.66 million.
Ethereum destroys its base execution fees as well as those linked to blobs, while priority tips go to validators.
However, be cautious of the classic shortcut: burning tokens does not mean directly paying holders. The tokens concerned are simply removed from circulation. They are not distributed to those who hold ETH.
Staking further complicates the picture. A validator’s income depends on several parameters, including their commission, performance, and the amount delegated to them.
Fees reveal only part of the value battle In the snapshot of September 22, Ethereum shows a market cap of about $335 billion, against $69 billion for Solana.
And yet, the smaller network generates almost twice as much in fees over 30 days.
This discrepancy deserves attention. Solana charges its users more while its token weighs much less on the market. This might give the impression that something doesn’t add up. But fees are only part of the calculation.
Money generated by a transaction can pay a validator. It can be distributed to stakers. It can be burned. It can also remain in an application’s economy.
A blockchain can be extremely active without capturing all the value created by this activity.
The same goes for active addresses. The 3.04 million recorded on Solana do not necessarily represent 3.04 million people sitting behind their screens. A user can own multiple wallets. Bots can also multiply transactions.
This is where the comparison becomes less spectacular but more interesting. Solana has a lot of activity. Ethereum maintains a lot of capital. To differentiate the two models, one must look at what happens after payment: issuance, burn, staking, validator income, and token demand.
Samani is betting on a Solana flip Kyle Samani, co-founder of Multicoin Capital, does not simply see Solana as a network catching up. He believes SOL can surpass Ethereum in market cap during this cycle.
The numbers give an idea of the scale of the bet. In the data he cites, Solana is worth about $58 billion against $293 billion for ETH. So SOL would need almost five times more market cap to overtake.
Samani relies notably on current activity. Solana generates more fees on seven- and thirty-day windows, shows more transactions, and dominates the DEX volume of the studied period. He also believes some crypto companies could choose this infrastructure over another for their new products.
But his journey should be kept in mind. He entered crypto via Ethereum in 2016, and Multicoin then participated very early in funding Solana. His view on the subject thus also comes from a personal history with these two ecosystems.
This does not make his thesis false. But it helps to put it back into context.
And the current context remains shared. Ethereum keeps a huge lead on stablecoins, DeFi, and real-world assets. Solana still has to prove that its volumes and fees can turn into lasting token demand.
Key figures $2,674: ETH price at the time of writing. $23.58M: fees generated by Solana over 30 days. $12.04M: fees recorded by Ethereum over the same period. $2.80M vs $2.66M: burn reported for Ethereum and Solana. $335B vs $69B: market caps shown in the September 22 snapshot. The massive adoption advocated by Michael Saylor adds another dimension to the debate. His idea is simple: the crypto market will eventually surpass the regulatory debates alone if usage continues to expand. This might be where the future is decided. Solana attracts spectacular activity. Ethereum maintains a considerable mass of capital. If adoption accelerates, fees and burn alone will no longer suffice: it will be necessary to see which of the two networks truly transforms its users into lasting value.
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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
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Alpenglow Goes Live on TestnetSolana's biggest consensus overhaul to date has reached its public testnet. According to @anza_xyz, the Alpenglow upgrade switched on @Solana's testnet on Thursday around 17:30 UTC, with the new system taking over from TowerBFT roughly 17 minutes after the transition began.
Anza targets median finality of 100 to 150 milliseconds.
How Alpenglow Works and What Comes Next
Devnet is next in the rollout sequence, with no scheduled mainnet date confirmed.
, meaning Thursday's testnet activation marks the first time the upgrade runs on infrastructure that more closely mirrors the live network at scale.
Sources:
CoinDesk: Solana starts testing upgrade that could cut finality from 12.8 seconds to 150 milliseconds
Crypto.news: Solana Alpenglow testnet explained
CoinCodex: Solana could go from 12.8 seconds to 150ms finality as Alpenglow enters testing
Forward Industries, the largest publicly traded Solana treasury company by $SOL holdings, plans to raise approximately $25 million through a registered direct offering to acquire more $SOL.
The company entered into a securities purchase agreement with an institutional investor for 3,125,000 shares of common stock at $8.00 per share. Forward expects the offering to close around September 24, subject to customary closing conditions.
After fees and offering expenses, Forward intends to use the net proceeds to purchase additional $SOL. The company said the strategy will grow the absolute size of its $SOL treasury while increasing $SOL per fully diluted share. A.G.P./Alliance Global Partners will act as the sole placement agent.
Forward Already Holds 8.16M $SOL The capital raise follows a major expansion of Forward's $SOL holdings. On September 21, the company announced that it had accumulated approximately 357,000 $SOL through purchases and staking rewards between August 4 and September 20.
Forward holds approximately 8.16 million $SOL, representing about 1.39% of Solana's circulating supply.
Forward's latest raise could therefore add another significant amount of $SOL to an already large corporate treasury, depending on $SOL's price when the company deploys the capital.
The move also comes as other Solana treasury companies continue accumulating. On September 21, DeFi Development Corp. announced that it had acquired approximately 101,381 $SOL worth more than $10 million over the previous week, bringing its treasury to 2.49 million $SOL.
Speaking on SolanaFloor’s tradingFloor livestream, Forward Industries Chief Investment Officer Ryan Navi pointed to Solana's existing network effects as a key reason for the company's continued focus on the network.
Navi said he expects Solana's TVL to continue growing and personally believes it could eventually surpass Ethereum over the next 5 years or more.
Forward Continues Its Acquisition Push The latest $SOL purchase strategy also fits into Forward's broader expansion campaign. On September 15, Forward submitted a new nonbinding proposal to acquire SkyAI at $2.13 per share, representing a 50% premium to SkyAI's September 14 closing price of $1.42.
The proposed transaction would give SkyAI shareholders cash and/or Forward shares at their election. The fixed exchange ratio of 0.306 Forward shares per SkyAI share implied a $2.13 value based on Forward's $6.95 closing price on September 14.
In June, SkyAI rejected Forward's all-stock proposal valuing its shares at $1.55, a 20% premium.
Forward's acquisition campaign extends beyond SkyAI. Also in June, Solana Company rejected Forward's proposal to combine the 2 companies at an implied value of approximately $1.63 per share. Forward also previously pursued an all-stock deal with Solmate.
These attempts show that Forward has considered both organic $SOL accumulation and consolidation with other digital asset treasury companies as it expands its Solana exposure. With 8.16 million $SOL already on its balance sheet, the company remains focused on increasing its holdings and cementing its place as Solana’s largest DAT.
Read More on SolanaFloor Solana's Biggest Consensus Upgrade Hits Testnet This Week As Network Targets 150ms Finality
Metaplex Unveils Vantage, a Fully Customizable Solana Trading Terminal
Hsin-Ju Chuang, a former partner at crypto venture firm Hack VC, has died at age 37, according to the San Bernardino County Sheriff-Coroner.
California Highway Patrol officers responded to southbound Interstate 15 south of Field Road on Aug. 24, where Chuang was pronounced dead at the scene. Authorities have not publicly disclosed a cause of death. Cointelegraph contacted the California Highway Patrol for additional information but did not receive a response by the time of publication.
According to her LinkedIn profile, Chuang founded Dystopia Labs and previously served as head of growth at Stellar and Solana. She joined Hack VC as a venture partner in 2021 before becoming partner and head of platform in 2025.
Hack VC co-founder and managing partner Alexander Pack said Wednesday that the firm was “shocked and saddened” by Chuang’s death and offered condolences to her family, friends and others close to her.
Pack said the company had not spoken directly with Chuang for more than 10 months and was not aware of the circumstances surrounding her death. “We have no further information, and only wish to ask everyone to be respectful of those who are grieving,” he added.
Before her death, Chuang had publicly accused Hack VC of mistreating her during her time at the firm and said she intended to release evidence supporting her allegations.
Magazine: Winners and losers of the SEC’s new tokenized stocks rules
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Per GMGN market data, the Solana-based meme coin Super Inu (SI) briefly topped $10 million in market capitalization, now trading at $8.05 million with a 24-hour gain of 176%. Earlier, news emerged that during his UN General Assembly speech, Trump proposed renaming artificial intelligence to "Super Intelligence", stating that all U.S. documents would use "Super Intelligence" to refer to AI. BlockBeats reminds users that related tokens have small market capitalization and high price volatility, so investors should exercise caution.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Crypto investors in the Philippines can now access Solana’s largest liquid staking token directly using Philippine Pesos. Local digital asset platform Philippine Digital Asset Exchange (PDAX) has listed JitoSOL, allowing users to buy, sell, and hold the asset without navigating external decentralized finance (DeFi) protocols or unhosted wallets.
The addition gives local traders direct fiat access to Solana’s primary liquid staking asset while keeping transactions inside a regulated local platform.
JitoSOL and Liquid StakingStaking native Solana (SOL) traditionally requires locking up funds, making them unavailable for trading or transfers while earning network rewards.
JitoSOL alters this mechanic by functioning as a liquid staking token. Holding JitoSOL provides exposure to underlying SOL staking yields, block production incentives, and transaction fees, which accrue directly into the token’s value relative to SOL over time. Because JitoSOL remains transferrable and tradeable, users maintain liquidity while receiving staking performance exposure.
By listing JitoSOL on its spot exchange, PDAX removes the friction typically associated with acquiring liquid staking assets. Local users can acquire the token in Pesos without executing multi-step cross-chain transfers or managing decentralized wallet connections.
Inside Solana’s $1 Billion Staking AssetJitoSOL is the dominant liquid staking token on the Solana network, accounting for roughly $1 billion in total value locked. It is issued by Jito Network, which builds execution layer and block-building infrastructure that processes a significant portion of Solana’s daily transaction volume.
Patrick Lao, Head of Retail at PDAX said in a statement:
“The next phase of digital asset adoption is about expanding what users can access beyond conventional crypto trading. Bringing JitoSOL to PDAX gives Filipino users another way to explore innovations being built on Solana through a regulated local platform.”“JitoSOL gives users a way to maintain exposure to staked SOL while keeping an asset they can use across the broader Solana ecosystem,” said Marc Liew, Head of APAC at Jito.
The listing expands Jito’s distribution in Asia, complementing its institutional custody support through platforms like BitGo and Hex Trust, as well as existing integrations with South Korean financial firms Hanwha Asset Management and KODA.
How to Buy JitoSOL on PDAXFilipino users with verified PDAX accounts can trade JitoSOL directly using local currency through the app or web interface:
Log into PDAX: Open the PDAX mobile app or web platform and sign in to a verified account.Cash In PHP: Deposit Philippine Pesos into your account using local payment channels such as GCash, Maya, InstaPay, PESONet, or direct bank transfer.Locate JitoSOL: Go to the trade section and select the JitoSOL trading pair (JitoSOL/PHP).Execute the Trade: Enter the desired PHP amount or JitoSOL quantity, choose between a Market or Limit order, and confirm the transaction.After the order fulfills, the JitoSOL balance updates directly in your PDAX wallet.
Local Adoption Drives Expanding Asset OptionsThe listing arrives amid growing local participation in digital assets. Data from Project Bayani: The Philippines’ Asset Tokenization Opportunity indicates that over 14% of Filipinos own cryptocurrency, a figure that is substantially higher than the 2.4% involved in traditional stock markets and less than 1% holding bonds. (Read More: Philippines Crypto Exchange Directory: Licensed BSP VASPs and SEC Blocked Platforms)
This article is published on BitPinas: PDAX Lists JitoSOL to Bring Solana Liquid Staking Token to the Philippines
Solana has begun moving its Alpenglow consensus upgrade onto the public testnet, a milestone that lets the network’s wider validator community exercise a change designed to shrink transaction finality to a fraction of its current time. Anza, the firm behind the Agave validator client, published Agave v4.3.0 on September 18 as a stable build it calls suitable for testnet, devnet and mainnet beta. On September 21 it told all mainnet validators to run the version, after first delivering it to operators in charge of 10% and then 25% of staked SOL. The move is one of Solana’s most consequential in years: it targets a cut in finality from roughly 12.8 seconds to about 150 milliseconds.
How the consensus model changes Finality is the point at which a transaction cannot be undone, and it is what exchanges wait for before crediting deposits and bridges wait for before releasing funds. Solana reaches it today through TowerBFT, which stacks validator votes recorded on-chain across 32 slots before a block is considered settled. Alpenglow swaps that for Votor, a protocol in which validators pass votes straight to one another and can agree on a block within a round or two. That removes the drawn-out on-chain voting chain that makes up most of the delay, trimming the wait to about 150 milliseconds.
A staged path to the main network The new code has run for more than four months on a separate, smaller network set up for the upgrade. Shifting it to Solana’s public testnet, where tokens carry no real value, tests whether the full set of computers and services that already run the chain can move over in concert. September 28 sits in Anza’s calendar as the tentative date for enabling the Agave 4.3 features on the main network, though Anza has not confirmed a launch and its tracker still marked the testnet switch itself as pending early Wednesday.
Client readiness and what changes for users Applications keep processing transactions as they do now, and holders do not need to change wallets or how they move funds. The first Alpenglow migration will run entirely through Agave, because Firedancer and Frankendancer, the two alternative validator clients built by Jump Crypto, do not yet support the test. Those alternatives exist to reduce Solana’s dependence on a single codebase so that a bug in Agave does not hit every validator at once. The shift follows a run of steady network upgrades, from a larger maximum transaction size to faster testnet slot times.
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Blockchain analyst specializing in the regulatory impact of government policies on the crypto industry. Known for his thorough research and clear, engaging writing, Emmanuel provides insightful analysis on the latest trends, market shifts, and emerging crypto innovations. His work aims to educate and inform both novice and experienced readers, offering expert perspectives on the fast-evolving world of digital assets. With a passion for staying ahead of the curve, Ogwu is a trusted voice in the cryptocurrency and blockchain space.
In This Article Can Solana Price Hit $125 This Week?Solana News Today: Solana Now Processes More Weekly Trades Than the NYSELiquidChain ($LIQUID): One Layer for Bitcoin, Ethereum, and Solana Liquidity Solana news today comes from two directions at once. SOL trades around $118, up about 1.3% on the day, while developers test an upgrade that could make transactions final in less time than a blink. Underneath both stories, a presale is drawing attention from traders who feel they missed this week’s move. More on that below.
Developers have deployed Alpenglow to Solana’s public testnet. The upgrade aims to cut finality, the point at which a transaction can no longer be reversed, from about 13 seconds to roughly 0.15 seconds.
The core change is a new consensus protocol called Votor, which replaces the current TowerBFT system. Instead of stacking votes across 32 slots, validators vote directly with one another and settle blocks in one or two rounds. Anza, the team behind Solana’s Agave client, confirmed that validators need version 4.3 to take part.
The move follows four months of testing on a dedicated network. This public testnet phase is the real stress test: it shows whether the wider validator set can migrate without breaking anything.
BREAKING: Alpenglow, @Solana’s biggest consensus upgrade in history, is moving into its testnet phase this week.
Source: @anza_xyz pic.twitter.com/cYKHrqDUP7
— SolanaFloor (@SolanaFloor) September 22, 2026
DISCOVER: Top Solana Meme Coins to Buy in 2026
Can Solana Price Hit $125 This Week? SOLUSDT Chart 1D TradingView The upgrade lands in a market that’s already moving. SOL has gained roughly 23% over the past week, and it now sits directly beneath a zone that has capped price before.
On the daily chart, SOL is testing $118.60, a former support level that turned into resistance after the February breakdown, with the psychological $120 mark just above. The token has also reclaimed its 200-day EMA near $93 for the first time in months, a shift that often signals a change in trend.
Demand appears to be real. Spot-linked products reportedly drew more than $28 million in inflows as SOL broke above $110 earlier this week. However, the four-hour RSI near 71 shows strong momentum that is also stretched, which raises the odds of short-term profit-taking.
Three scenarios stand out:
A daily close above $120 opens a path to $125–$130. The next major level on the chart sits near $149. SOL chops between $115 and $120 while the market digests the rally. Rejection at resistance sends SOL back to $115–$116, with deeper support around $96 and the 200-day EMA below that. Solana News Today: Solana Now Processes More Weekly Trades Than the NYSE BREAKING: The number of weekly spot DEX trades on Solana has officially surpassed the NYSE for the first time in history.
This metric includes the number of individual onchain token swaps executed on decentralized exchanges built on Solana.
In the week ending September 13th,… pic.twitter.com/kTbpO17gZj
— The Kobeissi Letter (@KobeissiLetter) September 22, 2026
Price isn’t the only thing surging in Solana news today. For the first time, the number of weekly spot trades on Solana’s decentralized exchanges has passed the New York Stock Exchange, according to The Kobeissi Letter, which cites Blockworks data.
In the week ending September 13, Solana handled about 208 million onchain token swaps, compared with roughly 190 million trades on the NYSE. The gap with Nasdaq also narrowed to about 47 million trades, the smallest on record.
Jupiter, Solana’s largest trading platform, drove much of that growth. It has processed more than 80 million trades so far this month, up 38% from last month. Overall, weekly spot DEX trades on Solana have climbed about 185% from their July lows.
One caveat: this compares the number of trades, not dollar volume. A typical Solana swap is much smaller than a typical NYSE trade. Even so, it shows how much real trading activity is moving onchain, and why Alpenglow’s faster finality matters.
EXPLORE: XRPL Permission Delegation Begins Final Test for October Activation
LiquidChain ($LIQUID): One Layer for Bitcoin, Ethereum, and Solana Liquidity
LiquidChain is a Layer 3 infrastructure project that combines liquidity from Bitcoin, Ethereum, and Solana into a single execution environment. Its pitch to developers is simple: deploy once and access all three ecosystems, instead of building and maintaining separate integrations for each.
The protocol is built on three core features:
Unified Liquidity Layer: Pools liquidity across the three chains into one accessible source. Single-Step Execution: Completes cross-chain actions in one transaction instead of several. Verifiable Settlement: Lets users confirm transactions settled as intended. The $LIQUID presale has raised $971,680.17 so far, with tokens priced at $0.014958. For traders who see cross-chain liquidity as the next infrastructure narrative, this is an early-stage entry point, before any exchange listing sets a market price.
The presale platform accepts multiple funding options, including ETH, BNB, SOL, USDT, USDC, and BTC, alongside direct bank card purchases for those buying with fiat. Staking is enabled at the time of purchase, offering the current 1,178% APY.
Anyone considering the liquidity thesis should review LiquidChain’s documentation, tokenomics, and team directly, and only commit capital they can afford to lose.
To stay updated on upcoming presale stages, exchange listings, and technical milestones, users can follow LiquidChain on X and join the project’s Telegram channel.
Visit LIQUID Here
DISCOVER: 16+ New and Upcoming Binance Listings in 2026
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Alex Ioannou
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Alex is a seasoned cryptocurrency trader and market analyst with over seven years of active experience in the digital asset space. Since entering the markets in 2017, Alex has specialized in identifying emerging "meta" trends and high-volatility narratives. Notably, Alex... Read More
Solana (SOL) is currently trading around $117.38, following a strong rebound from its previous lows. After climbing to a session high of $119.90, SOL approached a significant resistance zone between $118 and $120. This marks the first time in eight months that the token has tested the $120 area.
Technical Signals Hint at Potential UpsideAnalyst Ash Crypto has highlighted that SOL recently moved above its 200-week moving average, a development he regards as an encouraging technical signal. Ash Crypto also pointed to the formation of a weekly golden cross, which could indicate a shift in the long-term trend if confirmed. The analyst emphasized that although the golden cross has not been officially confirmed, reclaiming these levels remains significant for SOL.
Another market watcher, GordonGekko, noted that maintaining support above $118 could set the stage for a rally targeting $148. His technical analysis showed SOL bouncing from a previous base near $96, with momentum accelerating as the price approached current resistance. If the price fails to hold above $118, attention shifts to the $110-$112 range, with the 20-day exponential moving average near $105.59 acting as additional support, according to TradingView data.
Analyst JAVON MARKS suggested that SOL has broken out of a long-term Cup and Handle pattern, projecting that the full measured move of this breakout could point to a level above $500, though this is interpreted as a technical possibility rather than a concrete forecast.
Analyst Sweep made comparisons to earlier phases in SOL’s price action, referencing a similar accumulation period between $95 and $100 before a major rally. His projections based on fractal patterns suggest a potential path toward $400 to $500 over a longer timeframe.
Derivatives and On-Chain Activity Gain MomentumOn the derivatives front, data released by Santiment Intelligence reveals that SOL open interest has increased to approximately $2.97 billion. For comparison, Bitcoin open interest stands near $25.84 billion, while Ethereum’s open interest is at $16.97 billion. Rising open interest reflects expanding leverage and growing activity among traders as prices rebound market-wide.
Network activity has also accelerated. According to SolanaFloor, Solana has captured a 35% share of tokenized equity trading volume, its highest in the past two months. This brings Solana close to Robinhood’s market share of 39%, after lagging behind in July.
Meanwhile, Solana’s official account reported that the network processed 76% of all x402 payments, amounting to 23.2 million transactions in just four weeks. The second-largest network handled 3.39 million x402 transactions during the same period, highlighting Solana’s expanding use within its ecosystem.
Alongside these technical and on-chain developments, notable trends continue to emerge in the meme token market. Rapid internet-driven phenomena can attract millions of dollars within days. Data from Fomo App captured an instance where an investor turned an initial $99 investment in the meme token “Niu Lai” into roughly $370,000, illustrating how timing and token selection play a decisive role. Platforms like Fomo App bring together token discovery and trading with features such as social feeds, investor rankings, and real-time trade notifications, catering to those tracking both price movements and broader investor activity in meme tokens.
SOL’s price was last recorded just below $118, remaining close to the level that analysts consider pivotal for future price direction.
Market observers underlined that derivatives activity, network participation, and technical breakdowns are converging at a critical level for SOL, with $118 emerging as a focal point for both upward and corrective moves.
DEX trading activity is becoming a key signal for Solana’s [SOL] Q4 cycle.
According to DeFiLlama data, cumulative DEX volume has already crossed $600 billion in Q3, surpassing Q2’s $572 billion. The jump suggests that on-chain activity is picking up again, raising the question of whether DEX volume can reclaim the $1 trillion mark that was last seen in Q4 2025. For the year to date, the total DEX volume has remained below that level.
Notably, Solana could be an important driver behind a potential pickup in DEX activity. As the chart below shows, the weekly spot DEX trades on Solana have now surpassed the NYSE for the first time. To put this into context, for the week ending the 13th of September, Solana recorded around 208 million spot DEX trades, compared with roughly 190 million on the NYSE.
Source: Kobeissi Letter Why does this matter? Well, the fact that Solana’s DEX traffic is diverging so sharply from the NYSE is perhaps reflective of a more fundamental change in where liquidity is flowing. As more transactions are “on-chain”, demand for more “on-chain” market infrastructure is beginning to emerge.
The rise of tokenized equities on Solana only stands to bolster this thesis. According to Blockworks data, the number of tokenized equity holders on Solana has hit a record 973k in September, up almost 60% since August. In essence, Solana is seeing “liquidity” growth outside crypto. More users are gaining exposure to traditional assets through DEXs, creating an additional source of liquidity for the network.
If this trend persists, rising DEX volume could, therefore, become a major tailwind for SOL heading into Q4.
Solana’s DEX boom puts on-chain activity in focus for Q4 The market has already dubbed Solana’s DEX boom as a mere appetizer.
According to DeFiLlama data, the combined volume of all decentralized exchanges (DEX) on the blockchain has crossed $170 billion in Q3 so far. While weekly trading activity on the network has already surpassed the NYSE, its overall DEX volume is still below Q2’s $180 billion and well behind the Q1’s whopping $325 billion.
So there is much room for growth ahead. Notably, this is where stablecoin data comes into play. The supply of stablecoins on Solana hit a record $16.5 billion on the 22nd of September. It has also jumped more than 6% over the past week, adding nearly $1 billion in new liquidity for the network.
In layman’s terms, increasing stablecoin liquidity translates to more capital to flow through Solana’s DeFi ecosystem. And if the trend persists, it could catalyze a rise in DEX activity on the blockchain.
Source: DeFiLlama According to AMBCrypto, Solana’s weekly DEX activity outperforming the NYSE could, therefore, be more than just a one-off milestone. Instead, it could signal a broader shift in on-chain trading activity.
With growing stablecoin liquidity, tokenized equity adoption, and DEX activity reaching new highs, Solana’s on-chain ecosystem is showing increased demand. Taken together, these factors point to DEX volume being a key metric to watch for SOL as Q4 approaches.
Final Summary Solana’s DEX activity is rising, with more liquidity and tokenized assets moving on-chain. Rising DEX volume could support SOL’s Q4 momentum.
Debates on whether Solana could overtake Ethereum have resurfaced, following a bold forecast from Kyle Samani, co-founder of Multicoin Capital. Samani argued that Solana is poised to surpass Ethereum during this market cycle, driven by its performance and growing adoption among developers and users across the crypto sector.
Solana vs Ethereum: Competing PhilosophiesSpeaking on the comparative strengths of the two blockchains, Samani emphasized that more projects are now choosing Solana for its high-throughput architecture and low-latency transaction speeds. He suggested that these features are particularly attractive to developers focused on retail trading, decentralized finance (DeFi), memecoins, and consumer-facing mobile applications.
In a discussion shared by Ethereum Daily on social media, Samani maintained that Solana has the upper hand in terms of speed, transaction activity, and mass adoption. However, Ethereum Daily countered that Ethereum’s deeper liquidity, established role in stablecoin issuance, and proven settlement infrastructure create durable advantages that Solana cannot easily overcome.
Solana’s architecture emphasizes integrated, fast execution, benefiting retail activity and emerging use cases, while Ethereum’s modular roadmap focuses on decentralization, institutional custody, and reliable settlement—an edge in the eyes of major funds and regulatory bodies.
On-chain Metrics and Fee GenerationData from DeFiLlama indicates that over the past 30 days, Solana generated approximately $23 million in transaction fees, outpacing Ethereum’s layer-1, which saw around $12.6 million in the same period. This difference reflects Solana’s role as a hub for high-frequency trading and retail user activity. Solana’s sub-second transaction finality and low costs have allowed developers to move products to market quickly and access native composability for building integrated applications.
Despite strong engagement metrics, market capitalization remains a substantial hurdle for Solana. Ethereum’s market value is close to $293 billion, while Solana stands at around $58 billion. To overtake Ethereum, Solana would require a relative fivefold increase, which remains a distant prospect given Ethereum’s $54 billion in DeFi total value locked (TVL) and its $146 billion stablecoin ecosystem.
Beyond rapid transaction speeds and high user engagement, Ethereum maintains a dominant position as the foundation for stablecoin issuance, deep DeFi liquidity, and institutional adoption, creating a structural moat that is not easily disrupted.
Institutional Appeal and Market EvolutionEthereum remains the primary network for major stablecoins such as USDT and USDC, and its infrastructure is favored for regulated custody, staking, and ETF offerings. Its layered structure, combining a secure main chain with execution-focused L2s like Arbitrum and Optimism, appeals to institutions seeking auditability and compliance.
Industry observers note that future market leadership will largely depend on institutional investment flows, regulatory clarity around stablecoins, and the expansion of tokenized assets. Milestones expected to shape this landscape include Ethereum’s transition to advanced rollup and cross-L2 interoperability, as well as Solana’s development of the Firedancer validator client focused on enhanced performance and resilience.
Ultimately, the conversation has shifted from a zero-sum competition to one of market segmentation, where Solana could emerge as the preferred platform for execution and mass distribution, while Ethereum reinforces its position as the cornerstone of the crypto financial system.
Meme Tokens and Retail MomentumAs retail trading accelerates on fast blockchains, the meme token segment exemplifies how trends can transform into significant financial movement in just days. Fomo App has reported that a notable trade involving “Niu Lai” turned an initial $99 into roughly $370,000, demonstrating the scale of opportunity in this market. Timely tracking of investor activity, token choices, and market sentiment, combined with platforms like Fomo App—featuring real-time discovery, trading, social feeds, and investor rankings—remains vital for those seeking to navigate the fast-moving world of meme tokens and retail momentum.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
11 U.S. Democratic senators urge Senate Banking Committee to hold a hearing on prediction markets
11 Democratic senators on the U.S. Senate Banking Committee are urging committee chair Tim Scott to hold a hearing on prediction markets, following the panel’s plan to host a Republican-only roundtable on the topic next week. The roundtable will focus on securities-based prediction markets, with a representative from Kalshi expected to attend. Currently, primary regulatory authority over prediction markets falls to the Senate Agriculture Committee and the Commodity Futures Trading Commission (CFTC); the Banking Committee’s planned discussion is seen as a further move by the panel to engage with the prediction market issue.
3 hours ago
Bitcoin breaks through $80,000, backed by institutional funds; analysts hold divergent views on the sustainability of this rally.
Bitcoin recently broke through $80,000 and hit a high of $87,300. Analysts note the current rally is backed by strong inflows from institutional capital and spot Bitcoin ETFs, but metrics including trading volume, market breadth, and derivatives positions have sparked debate over whether the uptrend can sustain. K33 points out that Bitcoin’s recent pullback in both magnitude and duration is significantly smaller than those during major bear markets in 2013, 2017, and 2021, suggesting the current cycle’s low may have already been established. The firm also adds that Bitcoin still has catch-up potential relative to gold and U.S. equities. 21Shares attributes the crypto market’s regulatory tailwinds to the U.S. SEC’s “innovation exemption” and the Commodity Futures Trading Commission (CFTC) advancing relevant rulemaking. K33 further notes that fading uncertainties—such as the Federal Reserve’s interest rate decisions and the vote on the CLARITY Act—also helped drive the market’s breakout. However, Nexo takes a cautious stance, highlighting that recent declines in trading volume, narrowing rally breadth, and rising derivatives leverage could expose Bitcoin to risks of profit-taking or a temporary correction. Capital.com’s analysts identify the $87,000–$88,000 range as the near-term resistance zone; a breakout would target $90,000 next, while key support levels to watch are $84,000–$85,000 and $80,000. Fundstrat founder Tom Lee claims the crypto bull market has already begun, citing drivers including the reflow of AI capital back into crypto markets, improved crypto fundamentals such as tokenization and AI integration, and the end of Bitcoin’s four-year cycle.
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US SEC Commissioner Uyeda: Dropping some crypto lawsuits to avoid harming the regulator’s credibility
US SEC Commissioner Mark Uyeda stated that the agency has dropped several cryptocurrency cases inherited from the previous administration. The reason is that continuing to defend legal interpretations set to be overturned in court could harm the SEC’s credibility. Uyeda noted that as the SEC prepares to make a "180-degree shift" in its relevant legal interpretations, he does not want the agency’s litigation attorneys to keep defending its prior stance in court. He added that sticking to positions ultimately set to be overturned would "damage the SEC’s reputation". Furthermore, Uyeda referred to the SEC’s "innovation exemption" for tokenized securities as a "pilot program", arguing that this mechanism could create "significant potential opportunities" for new market entrants and traditional financial institutions.
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Visa Survey: Americans’ Willingness to Use Stablecoins Rises to 56% With Bank-Level Guarantees
Visa’s “Money Travels 2026” report reveals that if stablecoins offer bank-equivalent fraud protection and deposit insurance, U.S. consumers’ willingness to use stablecoins for cross-border transfers will climb from 36% to 56%. The survey identifies stablecoin awareness as a major barrier: 56% of U.S. respondents said they have never heard of stablecoins. When stablecoins are offered by existing financial service providers, that willingness rises to 45%; 61% of respondents said they would trust traditional banks to provide digital currency services, while 60% would trust global payment networks. Visa notes that stablecoins currently do not carry FDIC deposit insurance, adding that the data is based solely on hypothetical scenarios and does not mean such protections are imminent. Conducted by Morning Consult between February 24 and March 2, the survey covered 45,445 people across 20 markets, including 2,192 U.S. adults. In Latin America, willingness to use stablecoins for cross-border transfers jumps from 34% to 74% when the relevant protections are in place.
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Crypto exchange Coinbase has been stripped of its membership by UK Finance, the UK's financial industry lobbying group.
Sources familiar with the matter have revealed that the board of UK Finance recently sent a letter to Coinbase, stating that after reviewing its membership framework, the crypto exchange failed to meet the organization’s membership standards, leading to the decision to terminate Coinbase’s membership. Coinbase still retains the right to appeal this ruling. UK Finance represents around 300 financial institutions, including major UK and international banks, market infrastructure firms, and payment providers. Both Coinbase and UK Finance declined to comment. In recent years, the crypto industry’s influence in policy discussions has continued to rise, though it has faced disagreements with traditional financial institutions over issues such as stablecoin yields and banking services. The revocation of Coinbase’s membership comes at a time when discussions between the UK crypto sector and traditional financial institutions on topics like banking service access are heating up.
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WSJ: Two senior executives from Anthropic invest in a biosecurity startup backed by Peter Thiel
Beating AI News Brief: According to a WSJ report, two senior executives from Anthropic have invested in a Peter Thiel-backed startup developing hardware capable of detecting airborne viruses. The report notes that the project focuses on biosecurity, aiming to address potential biosecurity risks stemming from the rapid advancement of AI technology. The hardware can detect airborne viruses to help identify potential biological threats at an earlier stage. This investment also reflects that the AI industry’s attention to AI-related biosecurity risks is expanding from model security to real-world protective infrastructure.
Metaplex, the protocol famously known for building the token standard for Solana NFTs, has launched Vantage, a fully modular trading terminal designed to give Solana traders greater control over how they research, track, and trade onchain assets. Metaplex already offers tools to “launch onchain assets”, and Vantage now provides a user-defined interface for trading. The terminal is designed to break out of a one-size-fits-all layout: traders can add, remove, resize, and arrange widgets and modules to suit their workflow. In effect, Metaplex is turning the trading dashboard into a toolbox.
According to the company, Vantage replaces fixed layouts with customizable building blocks for charts, order entry, market data, and portfolio tracking. Users can save multiple dashboards for different strategies. For example, separate views for day trading versus long-term positions. The goal is a “terminal that adapts to the trader instead of making the trader adapt to the terminal.” This shift in interface design aims to give Solana traders complete control over how they see markets.
“Trading is personal. Different traders look at different signals, follow different markets and build completely different workflows.” - Stephen Hess, founder of Metaplex
Metaplex teased the product on Monday with a short post reading, “Information moves markets. Wednesday.” Vantage currently launches in beta, with Metaplex planning to expand access and add functionality based on user feedback.
From Token Infrastructure to Consumer Trading The launch represents another step in Metaplex's expansion beyond its traditional infrastructure business. Metaplex currently generates revenue by charging protocol fees across its onchain programs, including Genesis, Core, Bubblegum, Token Metadata, MPL-Hybrid, and Fusion.
The protocol directs 50% of those fees toward $MPLX for the DAO treasury, while the remaining 50% supports Foundation operations.
Metaplex has averaged more than $40,000 in weekly revenue over the past several weeks, including $41,432 last week.
The DAO's $MPLX buyback program has now repurchased more than 36.5% of the token’s circulating supply over time.
Vantage could give Metaplex another revenue-generating consumer product while potentially strengthening that buyback mechanism.
Genesis Set the Stage Vantage follows Metaplex's July 2025 expansion into token launches through Genesis. Genesis provides established teams with infrastructure for conducting Onchain Token Offerings, or OTOs, rather than functioning like permissionless memecoin launchpads such as pump.fun and letsBONK.
Its framework supports 3 primary launch mechanisms: Launch Pools, Auctions, and Presales. It also provides infrastructure for token claims, airdrops, tokenomics, and vesting schedules.
That expansion positioned Metaplex closer to the capital formation process. Vantage now moves the company further down the stack, from helping teams create assets to helping users discover and trade them.
A Broader Infrastructure Shift Metaplex is not alone in moving from back-end infrastructure toward user-facing trading apps. For Metaplex, Vantage connects several parts of its existing ecosystem. Genesis can help teams launch assets, while Vantage can provide a destination for traders to discover, research, and trade them.
The strategy could ultimately bring asset creation, discovery, and trading closer together within Metaplex's broader ecosystem.
Read More on SolanaFloor Cryptopunks, Boogles, and zkSnarks Record Millions in Trading Volume as NFT Markets Reawaken
$ZETA Surges 58% After Proposal to Migrate AI Stack to Solana Approved
MoonPay is buying North Capital, a Utah broker that has quietly handled private stock deals since 1999. The prize is not the technology. It is the US securities licenses MoonPay has been borrowing from partners.
Terms were not disclosed. The agreement, announced Wednesday, still needs regulatory sign-off before it closes.
MoonPay’s Push to TokenizationOnly last week, MoonPay opened a route for its 35 million users into a tokenized Treasury fund from WisdomTree. The fine print showed the problem. WisdomTree Securities handled the brokerage because MoonPay had no US broker-dealer of its own.
North Capital fills that hole several times over. It owns two SEC-registered broker-dealers, a registered transfer agent, an investment adviser, and PPEX, an alternative trading system for private securities with more than 1,250 approved assets. Its platform has moved $8.7 billion across primary raises and secondary trades.
This is plumbing, not product. Escrow, investor verification, shareholder records, and clearing are the unglamorous pieces any firm needs before it can legally sell a tokenized share to an American. Buying them beats applying for each one.
“All financial markets are becoming more technology-driven, but the infrastructure supporting them is still fragmented across different tech stacks, providers, and workflows,” Ivan Soto-Wright, CEO of MoonPay, said in the release
What the Deal Means for UsersThe purchase fits a pattern. MoonPay reportedly paid $100 million in stock for Solana router DFlow in May, its sixth deal since early 2025. Soto-Wright frames the company around funding, tokenizing, trading, and spending. North Capital is the tokenize-and-trade layer for regulated securities.
For users, the distinction matters. Most tokenized stocks on crypto apps today are synthetic trackers, and the SEC’s proposed exemption would let them trade without voting rights or dividends. A transfer agent lets MoonPay offer the real thing, a security whose holder sits on the issuer’s books.
That gap is widest in private markets, where pre-IPO token products sold to retail usually confer no stake at all. North Capital’s rails support Reg CF and Reg A+ offerings, the exemptions that let non-accredited investors buy private shares, though accredited-only Reg D deals will stay gated.
The open question is demand. Private securities trade thinly, and 35 million crypto buyers do not automatically become private-market investors. Whether MoonPay can turn a compliance stack into volume will show up in PPEX data, not press releases.
Canada now has its own stablecoin, and it just landed on Solana. Tetra Digital Group, operating through subsidiaries Tetra Trust Company and CAD Digital Inc., has expanded support for its Canadian-dollar stablecoin CADD to the Solana network after initially launching on Base, Ethereum, and Tempo on May 4, 2026.
CADD is pegged 1:1 to Canadian dollars held in segregated trust reserves, independently audited, and approved by the Alberta Treasury Board and Finance.
Who’s backing CADD and why it matters The list of backers reads like a who’s who of Canadian fintech and traditional finance. Urbana Corporation, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank of Canada, and Shopify all form the consortium supporting the initiative.
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Tetra raised $10 million in September 2025 to build this out.
The project cleared a key technical milestone back in December 2025, when the first transfer of a Canadian-dollar stablecoin occurred on a testnet between regulated institutions.
Anchorage Digital has also stepped in to provide custody solutions for institutional clients, a partnership announced in late May 2026.
The case for a non-USD stablecoin The target use cases are distinctly institutional: 24/7 cross-border settlements, real-time treasury transfers, programmable payments, and fintech-to-fintech settlements. These are the kinds of transactions that currently get bottlenecked by correspondent banking hours and legacy payment rails that shut down on weekends and holidays.
CEO Didier Lavallée has framed CADD as a tool to modernize Canadian payment infrastructure. When nearly all on-chain settlement runs through USD-pegged tokens, even domestic Canadian transactions end up economically tethered to the US dollar. CADD offers a way to keep Canadian financial activity denominated in Canadian currency, even in a blockchain-native environment.
Tetra Trust Company holds the distinction of being Canada’s first regulated digital asset custodian, which gives CADD a regulatory pedigree that most stablecoin projects lack at launch. The Alberta Treasury Board and Finance approval means a Canadian provincial regulator has explicitly signed off on the product.
Why Solana, and what comes next The expansion to Solana is a pragmatic move. Solana’s transaction throughput and low fees make it particularly well-suited for payments use cases, which is exactly what CADD is targeting. By launching across four blockchains, CADD positions itself to meet institutional users wherever they already operate.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Canada Gets Its First Regulated Stablecoin on Solana@TetraDigitalGrp has officially launched $CADD, the first Canadian-dollar stablecoin issued by a regulated financial institution, now live on the @solana blockchain. The token is backed 1:1 by Canadian dollars and has received regulatory approval from the Alberta Treasury Board and Finance, giving it a compliance pedigree that most stablecoin projects lack at launch.
$CADD is designed to close that gap.
Why Solana, and What CADD Enables
Sources:
Business Wire: Tetra Digital Group Launches CADD, Canada's First CAD-Backed Stablecoin
Crypto Briefing: Tetra Digital Group launches CADD, adds Solana support
PYMNTS: Tetra Launches Canadian-Dollar Stablecoin to Power Cross-Border Payments
Solana has continued to gain momentum across the real-world asset ecosystem even as it continues to see strong participation among users and DeFi platforms.
Following its continued growth in tokenized assets, the latest onchain data shows that the blockchain's RWA ecosystem has reached a new all-time high.
Solana records 11.47% surge in tokenized assetsAccording to the data, the value of distributed assets on the Solana network has reached a massive $4.49 billion as of September 23.
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While this has driven the total RWA value, which also includes the represented value, to a massive $4.6 billion, it represents an increase of 11.47% over the past 30 days.
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In addition to the surge in total RWA value, Solana has also recorded strong growth in RWA participation, with the number of RWA holders rising to 685,850, nearly doubling the level recorded over the past 30 days.
This suggests that most of the adoption might have happened in September, signaling a rapid surge in activity around tokenized assets and stablecoins on Solana as more users and capital move through the network.
Circle takes dominance Amid the rapid expansion of tokenization across the broad crypto market, reputable firms appear to be utilizing Solana's infrastructure for its speed and efficiency.
Notably, Circle has emerged as the largest platform by RWA value on the Solana network, accounting for the largest share of value at $7.5 billion.
The leading stablecoin issuer, Tether Holdings, followed next, registering a total RWA value of $3.8 billion, and BitGo at $1.6 billion.
Metaplex, the Solana-based protocol that quietly became the backbone for nearly a billion digital assets, is making a play for your trading screen. The project launched Vantage, a customizable trading terminal designed to let Solana traders research, track, and trade on-chain assets from a single interface.
From NFT minter to trading terminal Founded in 2021 as an NFT-focused protocol on Solana, Metaplex has steadily broadened its scope to encompass a wider range of digital asset creation and management tools.
The numbers back up that evolution. Metaplex protocols have powered more than 1 billion transactions on Solana, with cumulative trading volume landing somewhere between $13 billion and $14 billion. Over 900 million digital assets have been created through the platform, generating tens of millions in protocol fees along the way.
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The Genesis protocol, which launched in 2025, introduced on-chain token offerings with launch pools designed for fair price discovery, plus automated liquidity transitions to decentralized exchange partners like Raydium.
Then came the Metaplex App earlier this year, bundling asset discovery, trading, and self-service token launches into a single application. Vantage appears to be the next layer in that stack, targeting users who need more granular control over their trading workflows.
What Vantage actually does Vantage is positioned as a terminal for active and professional traders. The emphasis on customization suggests users will be able to configure their workspace, likely arranging charts, order flows, portfolio trackers, and research panels to match their trading style.
A trader using Vantage would theoretically have visibility into tokens launched through Genesis, assets minted via Metaplex’s core protocols, and trading activity across the broader Solana ecosystem, all in one place.
The MPLX token and DAO dynamics Metaplex operates under a DAO governance model, with its MPLX token serving dual duty as both a governance mechanism and a utility token within the ecosystem. The protocol has implemented buyback programs funded by protocol revenue, a structure designed to create sustained demand for the token independent of speculative trading.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Solana is projected to move Alpenglow, which Anza describes as its biggest consensus upgrade in history, into public testnet this week.
In a Tuesday post, Brennan Watt, CEO of Anza, hinted that the upgrade would go live on testnet in Epoch 1042, expected in less than 2 days according to Solana Beach data.
The move marks the first formal step in a migration that will eventually replace TowerBFT, Solana’s existing consensus system, with Alpenglow. The upgrade has already run for more than 4 months on a dedicated community cluster, where operators have repeatedly rehearsed the migration process.
From 12.8 Seconds to 150 Milliseconds Alpenglow’s main change involves how quickly Solana reaches finality, the point at which the network considers a transaction irreversible under its consensus rules.
Anza estimates that Alpenglow can reduce finality from roughly 12.8 seconds to around 100 to 150 milliseconds. That could change how exchanges, bridges, and merchants handle Solana transactions, since these services often wait for finality before crediting deposits, releasing assets, or confirming payments.
The upgrade replaces TowerBFT with Votor. Instead of recording consensus votes as blockchain transactions, validators exchange votes directly. Votor can finalize a block through 1 of 2 voting paths. One path completes after 1 round when 80% of stake participates, while another uses 2 rounds when participation reaches 60%. Removing onchain voting also frees blockspace currently consumed by consensus traffic.
How Solana Will Switch Consensus Without Stopping Alpenglow does not require a new chain, network restart, or token migration. Solana will switch consensus while the live network continues operating.
The migration follows 4 steps. First, the Alpenglow feature gate activates at an epoch boundary. Nothing migrates immediately.
Then, 5,000 slots later, the migration boundary arrives. Blocks stop carrying user transactions and contain only votes. This creates a safe rollback point because validators can discard blocks after the boundary without losing user transactions.
Validators continue running TowerBFT until 1 block receives votes from 82% of stake. The last ancestor of that block before the boundary becomes the Alpenglow genesis block.
Validators then sign a BLS genesis vote. Once 82% of the stake contributes, the genesis certificate forms.
Finally, validators roll back everything after the genesis block, hand consensus to Votor, and resume processing user transactions. TowerBFT retires, while Alpenglow takes over from the genesis block forward.
Agave 4.3 Leads the First Test Validators participating in the testnet migration need to run Agave v4.3.0. Anza recommended Agave v4.3 for all Mainnet-beta validators on Sept. 21 after a staged rollout that first covered operators representing 10% of stake and then 25%.
Anza's current schedule lists September 28 as a tentative date to activate features included in Agave 4.3 on Mainnet-beta. However, that does not represent a confirmed Alpenglow mainnet launch date.
Firedancer Not Supporting Alpenglow Migration Firedancer and Frankendancer currently do not support the Alpenglow migration. Testnet operators running either client need to switch to Agave v4.3.0 before the feature gate activates.
The situation has also raised concerns about client diversity. Mike MacCana, developer relations at QuickNode, expressed concern about the network relying on a single client during the migration.
The Firedancer team plans to end Frankendancer support when Alpenglow reaches Solana mainnet, expected with v4.3, citing its maintenance and security burden. The team will instead focus on the full Firedancer client.
Solana Foundation validator relations lead Timothy Garcia described the testnet activation as the end of an era for Frankendancer, while crediting the client with having a significant impact on the ecosystem.
What Comes Next After testnet, Alpenglow will move through Devnet before reaching Mainnet-beta. Each cluster must execute the same migration process before the next stage begins.
The upgrade also remains separate from Solana’s slot-time improvements. Solana’s slot time recently dropped to 250 milliseconds under SIMD-0525, while a future stage targets 200 milliseconds.
Alpenglow instead changes how quickly validators reach finality. If the migration succeeds across each stage, Solana will move toward a network where block finality can occur in roughly 150 milliseconds without changing how users send transactions or how applications execute them.
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Solana remained at the center of market attention on September 23, 2026 as traders evaluated strong ETF inflows, the token’s robust technical momentum, and key liquidation levels following a sharp recovery over the past week. Solana (SOL) traded at $116.87, marking a slight decline of 0.16% over the last 24 hours, with total trading volume reaching $4.5 billion and market capitalization standing at $68.66 billion. Over the previous seven days, SOL advanced 19.64% according to CoinMarketCap data.
Analyst Views and Technical OutlookMarket analyst Crypto Patel noted that Solana has more than doubled from his previously identified accumulation range of $60-$67, reaching as high as $120. This move, representing an increase of over 100%, suggests significant gains for traders taking positions in the earlier range.
Despite this sharp rally, Patel retained an optimistic long-term target for SOL, stating that $500-$1,000 remains achievable, but he also foresaw a possible medium-term correction below $70 and potentially toward $50. During the recent retracement from $120, Patel observed that traders who bought between $60-$67 are now positioned profitably. He emphasized no changes to his long-term price targets despite recent pullbacks.
Redlion, another prominent analyst, said Solana has regained traction since reclaiming the $110 level. He considers $110-$111 as a vital support range, and highlighted that the price structure remains constructive as buyers defend critical breakout levels. According to Redlion, the primary resistance stands at $119-$121, and a move above $121 could open the way to $123 or higher. On the downside, loss of the $110 zone would likely weaken the immediate outlook.
The daily RSI is currently hovering around 70, suggesting that Solana is somewhat stretched after its recent rally. Redlion anticipated a consolidation phase as the token absorbs these gains.
Patel continues to see $500-$1,000 as long-term targets for SOL, while Redlion highlights the importance of the $110-$111 support zone and the $119-$121 resistance band as key technical levels to watch in the near term.
ETF Flows and Market ActivityData from SoSoValue showed strong institutional interest. On September 22, Solana spot ETF net inflows reached $28.87 million, lifting cumulative net inflows to $1.47 billion and total net asset value to $1.77 billion. Previous net inflows stood at $47.62 million and $26.10 million on September 18 and 21 respectively, reflecting a significant rebound in demand after a slow start to the month.
Trading activity mirrored this trend, as SOL’s ETF trade value rose to $93.96 million on September 22, though this was lower compared to the $142.79 million posted one day earlier. On September 18, trade value hit $199.56 million, further supporting heightened interest. Each session over these recent days recorded positive net flows, but future sessions will be crucial in determining whether demand remains sustained.
On the technical front, Solana hovered near dense liquidity clusters in the $116.8-$117.3 range, based on CoinGlass liquidation heatmap data. Downside breakouts could pressure the $115-$116 zone, while significant liquidation activity has clustered above $119.5-$120.2, forming the top resistance region. An advance beyond $120 could increase pressure in the $121-$123 area.
Derivatives and Momentum IndicatorsSimultaneously, derivatives activity moderated as futures volume fell by 19.11% to $9.78 billion, and open interest declined 1.41% to $7.13 billion, according to CoinGlass. Despite these declines, the OI-weighted funding rate remained slightly positive at 0.0006%, suggesting a mildly bullish stance.
Short-term technical averages stayed supportive, with the 20-day Exponential Moving Average (EMA) at $106.76 and the 50-day EMA at $97.82. Solana’s price, around $117.09, remained above both levels. The 100-day EMA stood at $91.22 and the 200-day EMA at $93.37, underscoring the token’s strength above medium-term moving averages.
Momentum indicators reflected continued buyer strength, with the MACD line at 5.49 and a positive histogram reading of 1.19. These technicals point to an ongoing uptrend but also suggest short-term overextension.
In volatile conditions like these, not only monitoring liquidity and price levels, but also being aware of shifting trends in specific segments has become increasingly important. In the meme token market, an internet trend can transform into millions of dollars of interest within days. According to data from Fomo App, a trade involving “Niu Lai” that turned a $99 investment into roughly $370,000 serves as a notable example. In this market, tracking both price action and investor timing is crucial. Fomo App integrates token discovery and trading with features such as social feeds, investor rankings, and trade alerts, providing a single platform for following meme tokens alongside investor activity.
Currently, Solana’s price action reflects its position above major support and resistance levels, while increased ETF inflows and declines in derivative trading illustrate a mix of optimism and caution among traders. Market participants continue to monitor whether SOL can maintain its support and eventually push above the $120-$121 area.
Robust ETF inflows, shifting technical indicators, and evolving investor strategies are keeping SOL volatility high, with the coming days expected to clarify the strength of current momentum.
Tokenized commodities trading on Solana hit $87 million in weekly volume, with Raydium, Solana’s largest decentralized exchange, capturing 70% of that activity.
Solana’s tokenized commodity supply reached approximately $50 million by late August 2026, built on the back of assets like Paxos Gold (PAXG) and Dominion Market’s tokenized silver token, SILV. The silver token alone generated over $4 million in 24-hour volume shortly after launch, accounting for roughly 60% of all tokenized commodity trading on the network at the time.
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Raydium has consistently captured between 63% and over 90% of Solana’s tokenized asset trading volume across various categories throughout 2026.
The growth in tokenized gold supply on Solana tells perhaps the most dramatic story: a 689% increase year-over-year through August 2026. Solana’s share of the total on-chain gold market sits at roughly 0.47%, compared to Ethereum, which still dominates the space by a wide margin.
The trading options for commodity exposure on Solana expanded significantly in early September 2026, when GMTrade launched 24/7 perpetual contracts for gold, silver, and WTI crude oil on the network.
On the DeFi side, Kamino, a Solana-based lending protocol, added PAXG as collateral, meaning users can now borrow against their tokenized gold holdings.
Solana managed to route more than 95% of global tokenized equity volume by Q2 2026. Solana’s broader real-world asset metrics have been trending upward throughout 2026, with growth in both supply and holder counts across multiple RWA categories.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
