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Prominent angel investor Jason Calacanis, widely recognized for his early backing of Uber, has renewed his criticism of Bitcoin, arguing that investors should turn their focus toward projects delivering tangible products rather than speculative narratives.
Preference for Productive EcosystemsIn a recent post, Calacanis commented that if his brother held Bitcoin, he would advise selling half of the position and redirecting those funds into what he describes as “productive projects” such as Solana and Bittensor (TAO). He emphasized a notable preference for blockchain networks that prioritize product development and user utility.
Calacanis quipped, “The BTC power bottom is in!” before elaborating that Solana and TAO “are actually delivering new products — not just projects and promises.” This assessment marks a shift from his earlier skepticism toward these networks.
Solana and TAO are actually delivering new products — not just projects and promises, according to Jason Calacanis, who suggests shifting investments into productive blockchain ecosystems.
For years, Calacanis publicly distanced himself from Solana, questioning its practical applications outside of speculation. As recently as late 2024, he said he had “never owned SOL,” and consistently voiced doubt over the network’s real-world utility.
Evolving Views on SolanaDespite his long-standing reservations, Calacanis has recently expressed a more positive outlook on Solana. In recent interviews and social media posts, he acknowledged that entrepreneurs are building on both Solana and Bittensor, with real-world products emerging from these ecosystems.
However, Calacanis has not publicly disclosed direct investments in Solana or any connection between his venture firm and Solana Labs.
Mini dictionary: Bittensor (TAO), a decentralized machine learning network that allows users to contribute machine learning models to the blockchain and earn rewards, represents an alternative approach within the Web3 sector by merging AI and decentralized incentives.
Critique of Strategy and Its LeadershipWhile maintaining his status as a Bitcoin holder, Calacanis has persistently criticized Strategy, a business intelligence company led by co-founder Michael Saylor that has become one of the largest corporate holders of Bitcoin.
Earlier this year, Calacanis said Bitcoin faces a “Strategy problem,” citing concerns about the company’s growing dominance in the market and its influence on the industry’s overall narrative. He argued that the firm’s presence could be distorting natural market dynamics.
Calacanis has frequently urged investors to purchase Bitcoin directly, rather than investing through Strategy’s publicly traded shares. He argues that the company’s financing methods introduce additional risk to retail shareholders.
Asset/MethodInvestor ExposurePerceived RiskDirect Bitcoin (BTC)Full ownership, self-custodyPrice volatility onlyStrategy sharesBTC plus company operationsMarket risk, company leverageThe investor reiterated in previous remarks that he would “never touch” Strategy stock, even in the event of a significant price correction. He also stated that there should be no taxpayer-funded rescue if the firm faces financial difficulties in the future.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Base has also become the largest L2 for curated capital.
Coinbase’s Base has surpassed Solana in terms of capital stored in curated vaults, with over $1.6 billion in such assets or 22.5% of the entire market share.
Ethereum remains the undisputed leader with almost $3.5 billion (or 48.2% of the entire market share), while Base has become the largest layer-2 venue for such capital, according to Sentora.
Ethereum holds $3.46B of curated vault TVL and Base holds $1.62B. Together they represent 70.7% of the category.
Base now carries more than three times the risk curator TVL of Solana, making it the largest L2 venue for curated capital.
The data shows that Solana remains far behind with less than $550 million. Binance Smart Chain is close by, while the other networks that make up the rest of the top 10 include Plasma ($144 million), Monad ($119 million), and so on.
Curated Capital refers to deposits in DeFi vaults that are actively managed by specialized risk curators according to predefined rules and risk frameworks. It offers more structured, transparent, and accountable risk management than plain pooled lending, especially for stablecoin yield strategies.
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About the author
Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain.
For a blockchain that spent much of the past two years synonymous with meme coins and retail speculation, the Solana Foundation’s latest hiring push reads like a deliberate turn toward infrastructure. The organization has opened several senior positions including a General Manager of AI Ecosystem, a Head of Stablecoins, a Director of Institutional Growth, and institutional growth leads for Greater China and Japan, according to a report from WuBlockchain. Rather than chasing the next viral token, these roles target the plumbing of a durable layer-one network: on-chain intelligence, dollar-pegged assets, and serious capital.
The listings arrive at a moment when Solana’s network metrics have largely recovered from the congestion crises of 2024, and developer engagement has been climbing. Solana has consistently ranked among the top blockchains by developer activity, but institutional onboarding and deeper stablecoin liquidity have lagged behind Ethereum and even some newer ecosystems. A full-time Head of Stablecoins signals that the Foundation now views this gap as strategic, not incidental.
Not Just Another AI Narrative The GM of AI Ecosystem role is the most revealing. While every chain now claims an AI strategy, few foundations have committed to a dedicated senior executive for it. Solana’s AI ambitions come as the broader market watches decentralized compute networks and on-chain agents evolve from experiments into real products. It also aligns with the growing trend of AI-driven Web3 applications, similar to projects like UXLINK and Origins Network’s partnership, which aims to merge decentralized computing with scalable user experiences.
What matters here is timing. Solana’s high throughput gives it a natural advantage for AI agent interactions that demand sub-second finality. But without a coordinated foundation effort, developer tooling and grant programs for AI on Solana have been fragmented. Hiring a GM suggests the Foundation wants to consolidate these efforts before competitors close the window.
Stablecoins as Institutional Rails The Head of Stablecoins position is equally pragmatic. Stablecoin supply on Solana has grown, but it remains dominated by a few large players. A dedicated lead implies the Foundation wants to diversify issuer relationships, expand regional on-ramps, and potentially explore yield-bearing or compliant alternatives that traditional institutions find palatable. In practice, that means courting fintechs and payment firms in Asia and the US, not just crypto-native issuers.
This is not happening in a vacuum. Across the industry, tokenization of real-world assets and stablecoin-based settlement is accelerating, as seen in recent milestones like the first live tokenized Treasury settlement between Ondo and JPMorgan. For Solana to capture a slice of that institutional flow, it needs a stablecoin stack that meets the compliance and integration demands of traditional finance. The new hire will face the hard problem of making Solana rails feel safe to treasury managers who still equate crypto with chaos.
Asia Takes Center Stage The institutional growth leads for Greater China and Japan confirm that Solana sees Asia as the primary battleground for the next adoption wave. These are not passive outreach roles; they imply dedicated boots on the ground who can navigate regulatory nuance, broker exchange liquidity deals, and onboard local institutions. Both markets have seen a surge in Web3 gaming and social-fi, two verticals where Solana has already gained traction. Yet institutional capital in the region has mostly flowed to Ethereum and, in some cases, to newer L1s that offer staking incentives to traditional firms, as seen when institutional staking drove a SUI price surge earlier this month.
Japan’s evolving regulatory clarity and China’s gray-market innovation demand local knowledge. A San Francisco–led playbook will not work. If filled quickly, these hires could reshape where Solana’s next wave of validators, wallets, and on-ramp partners emerge.
What remains uncertain is how quickly these roles will be filled and whether the Foundation can secure candidates who combine deep crypto expertise with mainstream institutional credibility. Job listings don’t guarantee execution, and Solana has lost senior talent in the past. Still, the positions themselves tell a story about where the network’s stewards believe the puck is moving. For market participants accustomed to chasing memes, it’s a reminder that the foundations underneath are getting more serious.
AUTHOR
Brenda is a writer with three years of experience specializing in cryptocurrency, artificial intelligence and emerging technologies. She graduated from the University of Mombasa with a degree in Psychology. She has worked at Cryptopolitan and Blockchain Reporter.
Liquidity has become the defining battleground for Layer 1 networks.
Notably, BlackRock’s launch of two tokenized money market funds (BSTBL on Ethereum and BRSRV on Solana) is the latest example.
Built to serve as reserve assets for stablecoins, the funds show how institutions are increasingly optimizing blockchain rails to attract and manage liquidity.
Naturally, the numbers support the trend.
Stablecoins now account for over 14% of the total crypto market, representing $305 billion in capital against a $2.26 trillion market cap. With that liquidity pool, L1 networks are clearly competing to attract stablecoin reserves, and BlackRock’s latest move reinforces that narrative.
Source: TradingView (STABLE.D) Here’s a simpler way to think about it.
Think of BSTBL and BRSRV like digital accounts.
So, instead of keeping stablecoin reserves in traditional bank accounts, issuers can hold them in BlackRock’s tokenized funds on Ethereum or Solana. That keeps liquidity native to the network, making it easier to deploy, settle, and move capital across the ecosystem.
Why is BlackRock betting on Ethereum and Solana? Against this backdrop, it’s easy to see why BlackRock’s launch sparked a frenzy. From a macro lens, the move reinforces the growing institutional focus on stablecoins as the next major source of on-chain liquidity.
More importantly, though, it puts the long-running Solana vs. Ethereum debate back in the spotlight.
The real question now is whether “liquidity” is the factor that finally puts the debate to rest.
BlackRock’s Ethereum and Solana launch reignites the race for liquidity The growing stablecoin market is only one part of why BlackRock’s move matters.
As discussed earlier, the launch provides stablecoin issuers with a regulated method to hold reserves on Ethereum and Solana through BlackRock’s tokenized money market funds. As more issuers adopt these funds, more capital flows on-chain, expanding liquidity across both Layer 1 networks.
Why does this matter?
Liquidity is the backbone of DeFi. With DeFi TVL already up over 8% in Q3, fresh stablecoin liquidity could further deepen on-chain activity across both Ethereum [ETH] and Solana [SOL].
Notably, the timing makes the move even more interesting. According to CryptoQuant, altcoins now account for 60% of Binance’s trading volume, suggesting capital is increasingly rotating beyond Bitcoin.
Source: CryptoQuant Against this backdrop, BlackRock’s tokenized funds could amplify that trend by bringing more institutional liquidity on-chain.
Is SOL gaining ground against ETH? From a technical perspective, too, the timing stands out.
The SOL/ETH ratio has traded below the 0.05 level since the October crash, spending months in a tight consolidation range. If liquidity emerges as the next major catalyst, that consolidation could finally break.
In turn, the breakout could offer a clearer signal on whether SOL or ETH is winning the race for capital, with BlackRock’s tokenized money market funds adding fresh momentum to that narrative.
Solana validators are throwing their weight behind two governance proposals that, if passed, would significantly tighten the network's token supply from both ends: burning more of what already exists while issuing less going forward.
SIMD-0553: A Dramatic Jump in Daily Burns The first proposal, SIMD-0553, introduces resource-based fees that charge transactions according to the network resources they consume. That would lift daily burns from around 650 SOL, about $47,000 at current prices, to between 7,500 and 9,000, or up to roughly $650,000 a day. Per Anza estimates, that represents a 12- to 14-fold increase in the daily burn rate.
SIMD-0550: Accelerating the Disinflation Schedule SIMD-0550 doubles the annual disinflation rate to 30%, which pulls Solana's 1.5% terminal inflation floor forward to 2029 from 2032, and removes about 18.9 million SOL of emissions over six years, worth roughly $1.36 billion. The proposal, authored by Lostin and 0xIchigo of Helius, updates the inflation schedule by increasing the disinflation rate from -15% to -30%, effectively doubling the pace of inflation decline.
Validators, the entities that process transactions and secure the Solana network, currently earn a meaningful portion of their revenue from inflationary rewards. New SOL gets created and distributed to validators, and by extension to the stakers who delegate to them, as compensation for keeping the network running. Cutting the inflation rate faster means that revenue stream shrinks faster too. SOL holders, on the other hand, benefit from reduced dilution, as their existing tokens represent a larger share of the total supply over time.
The two proposals are being considered together. Solana validators are signaling support for both SIMD-0550 and SIMD-0553, which would reduce new SOL issuance and increase the amount of SOL burned. SIMD-0550 would accelerate disinflation so the network reaches its 1.5% terminal rate by 2029 instead of 2032.
Initial support stands at 38.62 million SOL, with signaling open until August 18. The proposals must attract roughly 40 million more SOL in support to clear a 15% signaling threshold before an actual vote takes place. Neither proposal is guaranteed to pass. An earlier, similar attempt, SIMD-0228, went to a community vote in March 2025 and failed.
Sources:
CoinDesk: A new Solana proposal would take daily SOL burns from $47,000 to $650,000
Solana Compass: SIMD-550, SIMD-553 and Solana's pending tokenomics proposals
Solana Developer Forums: SIMD-0550 proposal to double disinflation
Kripto para piyasası, haftanın yeni işlem gününe pozitif bir görünümle başladı. Küresel risk iştahındaki toparlanma, dijital varlık piyasasında alımların güçlenmesini sağlarken yatırımcıların gözü bu hafta açıklanacak kritik ABD ekonomik verilerine çevrildi. Aynı zamanda Orta Doğu’daki jeopolitik gelişmeler de fiyatlamalar üzerinde etkisini sürdürüyor. Son 24 saatte toplam piyasa değerindeki yükseliş ve Bitcoin öncülüğündeki toparlanma, yatırımcıların temkinli iyimserliğini koruduğunu gösteriyor.
Kripto Para Piyasasında Son Durum Ne? Toplam kripto para piyasası değeri son 24 saat içinde yüzde 1,19 artarak 2,18 trilyon dolara ulaştı. Piyasanın en büyük varlığı Bitcoin, yüzde 1,59 yükselişle 63.778 dolar seviyesine çıkarken Ethereum ise yüzde 0,29 prim yaparak 1.862 dolardan işlem gördü.
Altcoin cephesinde de alımların geniş bir alana yayıldığı görüldü. XRP yüzde 0,57 yükselerek 1,07 dolara ulaşırken Solana yüzde 1,26 değer kazanarak 73,70 dolar seviyesine çıktı. Bu görünüm, yatırımcıların yalnızca Bitcoin’e değil, farklı dijital varlıklara da yöneldiğine işaret ediyor.
ABD Verileri Piyasayı Nasıl Etkileyebilir? Bu hafta piyasaların odağında ABD iş gücü piyasasına ilişkin önemli veriler bulunuyor. Gün içerisinde açıklanacak JOLTS açık iş pozisyonları verisinin ardından çarşamba günü ADP özel sektör istihdam raporu, cuma günü ise tarım dışı istihdam verisi yayımlanacak.
Analistler, beklentilerin altında kalabilecek istihdam verilerinin FED’in faiz politikasına ilişkin beklentileri yumuşatabileceğini değerlendiriyor. Faiz artırımı ihtimalinin azalması ise hem kripto yatırımı yapan yatırımcıların risk iştahını artırabilir hem de küresel piyasalarda olumlu fiyatlamaları destekleyebilir.
Bu nedenle önümüzdeki birkaç gün boyunca açıklanacak makroekonomik verilerin, kripto varlıklardaki kısa vadeli yön üzerinde belirleyici olması bekleniyor.
Jeopolitik Gelişmeler Kripto Risk İştahını Destekliyor Mu? ABD ile İran arasında yeniden diplomatik temas kurulabileceğine yönelik açıklamalar da yatırımcıların yakından takip ettiği başlıklar arasında yer alıyor. Taraflardan gelen farklı mesajlar belirsizliği sürdürse de olası bir diplomatik ilerleme küresel piyasalarda risk algısını iyileştirebilir.
Jeopolitik tansiyonun düşmesi durumunda yatırımcıların daha yüksek riskli varlıklara yönelmesi mümkün görülüyor. Buna karşılık bölgede gerilimin yeniden yükselmesi halinde hem geleneksel finans piyasalarında hem de kripto ekosisteminde oynaklığın artabileceği belirtiliyor.
Kripto ETF Verileri Kurumsal İlgiyi Nasıl Gösteriyor? Kurumsal yatırımcıların yönünü gösteren ETF verileri ise farklı bir tablo ortaya koydu. 3 Ağustos tarihinde spot Bitcoin ETF’lerine 170,09 milyon dolarlık net giriş gerçekleşirken, spot Ethereum ETF’lerinden 11,42 milyon dolarlık net çıkış yaşandı.
Altcoin ETF’lerinde ise karışık bir görünüm dikkat çekti. XRP ETF’leri 1,15 milyon dolarlık net giriş kaydederken HYPE ETF’lerinden 964,32 bin dolarlık çıkış gerçekleşti. Solana, DOGE, BNB, LINK, LTC, AVAX, HBAR ve DOT ETF’lerinde ise gün boyunca kayda değer herhangi bir fon hareketi görülmedi.
ETF verileri, kurumsal sermayenin özellikle Bitcoin tarafında güçlü kalmaya devam ettiğini gösterirken, diğer varlıklarda daha seçici bir yaklaşımın benimsendiğine işaret ediyor.
Bu içerik kesinlikle yatırım tavsiyesi niteliği taşımamaktadır. Piyasalar yüksek risk içermektedir ve yatırım kararlarınızı almadan önce kendi araştırmanızı yapmanız önemlidir.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
4 August 2026 | 12:46 Solana is considering two separate changes to how SOL enters and leaves circulation.
Key Takeaways Solana validators are gathering support for a resource-based transaction fee model. At its final modeled rate, the system could burn 7,500 to 9,000 SOL per day under activity levels similar to May 2026. A separate proposal projects approximately 18.9 million fewer SOL being issued over six years. The changes would slow supply growth but would not make SOL immediately deflationary. Oversized transactions could cost more, while faster disinflation would reduce nominal staking rewards. One would burn more SOL through transaction fees, while the other would reduce how quickly new tokens are issued to validators and stakers.
Validators are gathering support for SGP-0003, which asks the network to pursue the resource-based fee model described in SIMD-0553.
SIMD-0550 would separately accelerate the decline in Solana’s inflation rate.
Neither proposal is active on mainnet. They are also at different stages and would require separate governance, development and activation processes.
SIMD-0553 Would Charge Transactions by Resource Use Solana currently charges a base fee of 5,000 lamports per signature. Half is burned, while the other half goes to the validator producing the block.
The flat charge does not reflect how differently transactions use the network. A simple transfer and an application requesting substantial computing capacity can pay the same base fee despite placing very different demands on validators.
The proposed model would divide the fee into two parts:
2,500 lamports per transaction (base priority and ordering baseline) Paid entirely to the Block Leader Resource Fee
Dynamic calculation based on requested computing capacity and network resources Burned in Full (Deflationary) Priority fees would remain unchanged and continue going to the block leader.
Efficient transactions could pay less than under the current flat system. Applications that reserve large amounts of compute or account data could pay considerably more.
The resource charge would be based on what a transaction requests before execution, not what it ultimately consumes. Developers would therefore have a reason to set accurate limits instead of relying on oversized default budgets.
Wallets, RPC providers and decentralized applications would need to update their fee estimates before activation. Without those changes, users could see unexpectedly high costs even when a program uses only part of the capacity it requested.
The proposal also identifies a weakness in its earliest stage: very small spam transactions could initially face a lower minimum cost than under the current system. Later stages would raise the resource charge.
The 9,000 SOL Burn Figure Is a Projection Solana currently burns around 648 SOL per day through the destroyed portion of its base transaction fee, according to the proposal.
Using network activity recorded in May 2026, the authors estimated that the resource fee could burn:
SOL Emission / Rate Progression Stages Stage Daily SOL Volume Relative Scale / Progression First Stage 1,500 to 1,800 SOL per day Intermediate Stage 3,750 to 4,500 SOL per day Terminal Rate 7,500 to 9,000 SOL per day The final range would equal roughly 2.7 million to 3.3 million SOL per year.
Those figures are estimates rather than a guaranteed burn schedule. They assume that transaction activity and requested resource use remain broadly comparable with the May 2026 data used in the model.
Higher network activity or more resource-heavy transactions would increase the burn. Developers reducing unnecessary compute requests could lower the fee paid by each transaction. Higher costs could also discourage some activity and reduce the fees generated.
The model would therefore link Solana’s burn rate more closely to actual demand for network resources.
SIMD-0550 Would Reduce Future SOL Issuance Solana’s annual inflation rate currently declines by 15% each year until it reaches a long-term floor of 1.5%.
SIMD-0550 proposes increasing that annual reduction to 30%.
The inflation rate would not suddenly be cut in half when the proposal takes effect. It would continue from its existing level and then fall more quickly each year.
Using an inflation rate of approximately 3.82% as of June 1, 2026, the proposal estimates:
Solana 1.5% Inflation Floor Timeline Comparison Schedule Type Time to Reach Floor Target Date Pacing / Velocity Current Schedule
~5.7 Years First half of 2032 Accelerated Schedule
~2.8 Years First half of 2029 The long-term target would remain unchanged. Solana would reach it almost three years earlier.
The proposal estimates that approximately 18.9 million fewer SOL would be created over six years, leaving total supply around 2.6% lower than under the current schedule.
This does not remove 18.9 million SOL already in circulation. It represents tokens that would no longer be issued compared with the existing inflation path.
How the Changes Could Affect SOL’s Supply The two proposals would influence different parts of Solana’s supply growth.
SIMD-0553 would destroy more existing SOL when transactions use network resources. SIMD-0550 would reduce the amount of new SOL distributed through staking rewards.
Lower issuance would reduce dilution for existing holders. It could also reduce one source of recurring market supply because some validators and stakers sell rewards to cover infrastructure costs, taxes or other expenses.
Not every newly issued token is sold, however. Some rewards remain staked or are held, so 18.9 million fewer tokens issued would not translate into an equal reduction in selling pressure.
The proposals would also fall well short of making SOL immediately deflationary.
The fee model estimates that Solana currently issues around 60,000 SOL per day through inflation. Even the projected terminal burn of 7,500 to 9,000 SOL per day would initially remain far below that amount.
Faster disinflation would gradually narrow the difference between issuance and burns. Whether Solana ever reaches net deflation would depend on future network activity, transaction complexity, staking participation and the final fee rates adopted.
The more likely near-term result is slower supply growth rather than a shrinking total supply.
What the Proposals Could Mean for SOL’s Price Burning more SOL and issuing fewer new tokens could improve the supply-demand balance if network use and investor demand remain stable or grow.
That does not guarantee price appreciation. SOL would still respond to broader market conditions, liquidity, demand for Solana applications and whether either proposal is approved and implemented.
The burn estimate also depends on activity remaining strong. If higher fees reduce transaction demand, the amount of SOL destroyed could fall below the modeled range.
The proposals are therefore more relevant to long-term dilution than to an immediate supply shortage.
Lower Inflation Would Reduce Staking Rewards Faster disinflation would lower the nominal yield paid to SOL stakers.
The SIMD-0550 analysis models staking returns falling from approximately 5.84% to:
4.34% after one year. 3% after two years. 2.25% after three years. The estimates assume that around 68% of SOL remains staked. Actual returns would also depend on validator commissions, transaction fees and MEV income.
For holders, a lower nominal reward would be partly offset by slower dilution. Earning fewer SOL has a different effect when the overall supply is also expanding more slowly.
Validators face a more direct problem because their server, staffing and infrastructure costs would not automatically decline with inflation.
Among the 738 validators included in the proposal’s model, two could move from profitable or breakeven to unprofitable during the first year. That estimate rises to 13 after two years and 30 after three years.
These are model projections rather than forecasts for individual operators. They indicate that smaller validators relying heavily on inflation commissions could face greater pressure if transaction fees and MEV revenue do not replace enough of the lost rewards.
That could contribute to validator consolidation even though Solana would eventually reach the same 1.5% inflation floor under the current schedule.
The Fee Proposal Is Still Gathering Support SGP-0003 remained in its support phase at the time of the latest governance snapshot.
Validators representing at least 15% of total active stake must express support before the proposal can move into discussion and formal voting.
Helius was the largest visible supporter, with approximately 16.03 million SOL, representing 3.70% of validator stake. Blueshift followed with approximately 3.6 million SOL, or 0.83%.
Other visible supporters included Solana Compass, Temporal, Ha1iad3, Cavey Cool and Harmonic Major.
This support is not a final vote to introduce the fee system.
Even if the proposal reaches the threshold and later receives majority approval, the vote would endorse pursuing the model. Developers would still need to implement it, test it and activate it through staged feature gates.
SIMD-0550 remains under review and would need its own approval and implementation process before changing Solana’s inflation schedule.
How to Judge the Proposals After Approval For the resource-based fee model, the most useful evidence will be the final fee rates, how accurately applications set their resource limits and whether higher costs change transaction activity.
Users should also watch whether wallets and applications update their fee estimates before activation. Poor estimates could cause transactions to reserve more capacity than necessary and pay higher fees.
For SIMD-0550, the important figures will be staking participation, inflation-adjusted returns, validator profitability and whether transaction fees and MEV replace part of the lost issuance revenue.
Together, the proposals would make Solana more dependent on real network activity and less dependent on newly issued tokens.
That shift would work best if transaction demand remains strong enough to generate meaningful burns and support validators without making ordinary network use unnecessarily expensive.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Governance proposals, burn estimates and future inflation projections may change before implementation and do not guarantee price appreciation. Methodology: This article uses Solana’s validator governance portal, SGP-0003, SIMD-0550, official Solana fee documentation and proposal estimates based on May and June 2026 network data. Figures concerning future burns, issuance, staking yields and validator profitability are projections rather than observed mainnet results. Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
A Solana memecoin called $ONLYMARMS has done something the researchers behind it could not quite manage on OnlyFans: raise serious money. The community-launched Pumpfun token has pulled in more than $14,000 for a 64-year-old marmot study, surpassing the roughly $6,000 generated by the project's own OnlyFans page, according to the lab's own fundraising tracker.
A Six-Decade Study Scrambles for Funds The Marmot Adaptive Dynamics (M.A.D.) Lab at the Rocky Mountain Biological Laboratory tracks yellow-bellied marmots near Crested Butte, Colorado, and has run continuously since 1962, making it one of the longest wildlife studies in the world. It is also the second-oldest study of its kind globally, behind only Jane Goodall's chimpanzee research.
Daniel Blumstein, an ecology professor at the University of California, Los Angeles (UCLA), runs the project and told NPR that a National Science Foundation (NSF) grant denial had reduced their teaching assistants. Since President Trump took office for the second time, his administration has frozen or slashed more than $700 million in NSF grants, and after three unsuccessful attempts to renew their grant, the agency told Blumstein to stop applying.
Blumstein and his team created an OnlyFans page called OnlyMarms, where fans can see daily photos and videos of wild marmots and leave tips to help support the ongoing research. "It's going to be G-rated, and we're not going to sexualize this," Blumstein told The New York Times. Julien Martin, a University of Ottawa professor who co-runs the study, later joined the fundraising push and signed up on Pumpfun himself to claim the token's creator fees for the lab.
Crypto Outpaces the Content Platform One of the more successful endeavors is a community-launched token called OnlyMarms on Pumpfun, a platform that lets anyone create a Solana-based token in minutes. The lab's Marmot Project Instagram account put OnlyFans donations at more than $6,000, after OnlyFans took its 20% cut, while the Pumpfun token has now more than doubled that figure in crypto donations. $ONLYMARMS surged 600% over the last 24 hours and carried a market cap of $2.75 million at time of writing.
The marmot program's other fundraisers include the early July launch of Marmot Tears IPA, a beer brewed by Irwin Brewing Co. in Crested Butte, and an upcoming Fat Marmot Week event in August, inspired by Katmai National Park's Fat Bear Week. Blumstein said the lab is also continuing to pursue traditional grant funding.
The episode has drawn fresh attention to a wider squeeze on American science. The Trump administration cancelled more than 1,700 grants worth some $1.4 billion at the NSF in 2025, and in 2026 the agency has so far awarded just a fraction of the $9 billion it has typically distributed in recent years, with the White House proposing to slash its budget by nearly half for the 2027 fiscal year.
Sources:
Yahoo Finance / BeInCrypto: Solana Memecoin OnlyMarms is Outraising OnlyFans Subscriptions for a Marmot Study
UPI: Marmot researchers raising funds with OnlyMarms page on OnlyFans
Futurism: Scientists Forced to Go on OnlyFans After Their Funding Was Cut
Backpack just did something that shouldn’t really be possible on paper. The exchange overtook xStocksFi in monthly tokenized equities volume on Solana in July 2026, pulling in $1.06 billion in trading volume. The kicker: Backpack holds roughly 5% of Solana’s total tokenized stock supply, while xStocksFi controls about 87%.
That 73% issuer market share came exactly one month after Backpack launched its tokenized securities offering.
How a 5% supply player captured 73% of volume Backpack’s edge appears to come from its propAMM models, a proprietary automated market maker design built through strategic partnerships that concentrates liquidity more efficiently than traditional order book or AMM approaches.
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The platform’s SpaceX token, trading under the ticker SPCX, has been a standout performer. Shortly after its June 2026 listing, SPCX crossed 10,000 onchain holders. Cumulative volume on that single token surpassed $350 million.
Backpack’s tokenized version of SK Hynix, listed as SKHY through a partnership with Sunrise, generated $1.18 million in volume on its very first day of trading on July 10.
Traditional stock markets operate roughly 6.5 hours per day, five days per week. Tokenized equities on Solana trade around the clock.
Solana’s quiet dominance in tokenized equities Solana now accounts for approximately 95% of all global onchain tokenized-equity trading. The category’s cumulative volume has crossed $10 billion, with recent monthly growth of around 180%.
The Backpack-xStocksFi competition reflects a divergence in approach: xStocksFi, developed by Backed Finance and closely integrated with Kraken’s infrastructure, has built its dominant supply position using models that incorporate synthetic elements. Backpack, operating as a regulated brokerage, has leaned into direct redeemability and 1:1 backing with real shares.
What this means for investors The $1.06 billion monthly figure deserves some scrutiny before anyone gets too excited. Trading volume can be inflated by wash trading, bot activity, or incentivized liquidity programs that temporarily juice numbers. The SpaceX token’s organic holder growth suggests at least some of this volume is genuine.
xStocksFi still controls 87% of the tokenized stock supply on Solana. Solana’s 95% market share in tokenized equities creates concentration risk: if the chain experiences downtime, an entire global tokenized equity market effectively pauses.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
TLDR BlackRock launched a new tokenized money market fund called BRSRV for stablecoin reserve management. The fund records ownership on Solana, Ethereum, and Tempo blockchains. BlackRock also launched on chain shares of its existing BSTBL Treasury liquidity fund. The fund invests only in cash, short term Treasuries, and repurchase agreements, not digital assets. The product is built to qualify as a reserve asset under the GENIUS Act. BlackRock has launched a new tokenized fund aimed at companies that manage stablecoin reserves. The fund is called the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, or BRSRV.
The asset manager announced the launch on Monday. It also introduced tokenized shares of an existing fund, the BlackRock Select Treasury Based Liquidity Fund, known as BSTBL.
This marks BlackRock’s first use of Solana for a tokenized fund. The firm had already been using Ethereum for similar products.
Ownership Recorded Across Three Blockchains According to a prospectus filed with the SEC, ownership of the new fund is recorded on Solana, Ethereum, and Tempo. Tempo is a blockchain built for payments and stablecoins.
Investors will hold their shares through wallets approved by Securitize, which acts as the transfer agent for the fund.
BlackRock said the system is permissioned. This means wallets must be verified and whitelisted before an investor can hold shares.
The transfer agent can restrict transfers if needed. In some cases, it can freeze, revoke, or reissue shares.
Jon Steel, who leads BlackRock’s cash management product and platform team, said cash remains a basic building block for investors and financial institutions. He said the new funds give clients more ways to access money market investments across both traditional and digital markets.
Fund Holds Only Cash and Treasuries Despite using blockchain technology, the fund does not touch cryptocurrency directly. BlackRock said it invests only in cash, short term U.S. Treasury securities, and overnight repurchase agreements backed by Treasuries.
The company stated clearly in its filing that the fund will not invest in any digital assets, including virtual currencies.
The fund also has a minimum initial investment of three million dollars. This suggests the product is aimed at institutions rather than individual investors.
BlackRock said the fund is structured to qualify as an eligible reserve asset under the GENIUS Act. That law sets rules for how payment stablecoins must be backed in the United States.
The filing noted some risks. Future regulatory changes could affect whether stablecoin issuers can keep using the fund as a reserve asset.
Blockchain outages or flaws in smart contracts could also disrupt transactions, according to the filing.
This launch builds on BlackRock’s earlier tokenization work. The firm’s BUIDL fund, launched in March 2024, now manages more than 2.6 billion dollars in assets.
Other large financial firms have introduced similar products. Morgan Stanley and Fidelity have both rolled out offerings aimed at stablecoin reserve management since the GENIUS Act passed.
The move shows how major asset managers are building infrastructure around stablecoin regulation. Reserve funds like BRSRV are designed to meet the specific requirements stablecoin issuers now face under U.S. law.
BlackRock has not said whether it plans to add more blockchains to the fund in the future. The prospectus does note that other supported networks may be added later.
Intesa Sanpaolo, Italy’s largest banking group, has significantly changed the composition of its crypto exchange-traded fund (ETF) holdings, according to its latest mandatory disclosure to US regulators.
Sharp reduction in Bitcoin ETF exposureAccording to the Form 13F filed with the US Securities and Exchange Commission (SEC) on July 31, the bank’s common shareholding in the iShares Bitcoin Trust fund fell dramatically between March and June. The reported position decreased from 646,809 shares on March 31 to 40,723 by June 30, marking an approximate 94% reduction.
Intesa Sanpaolo also reduced its exposure through call options. The underlying share count tied to these positions fell steeply, from 2,496,500 to 18,000, which reflects a drop of over 99%. Additionally, the June filing introduced a new put option tied to 500,000 underlying shares, a position that did not appear in earlier disclosures.
Asset/PositionMarch 31 HoldingsJune 30 HoldingsChange (%)iShares Bitcoin Trust (Common Shares)646,80940,723-93.7%iShares Bitcoin Trust (Call Options)2,496,50018,000-99.3%iShares Bitcoin Trust (Put Options)0500,000New PositionThe Form 13F report, a quarterly filing required by institutional investment managers with at least $100 million in assets under management, only reveals positions held as of the end of the reporting period. It does not specify strike prices, expiry dates, or whether options were sold short, leaving the bank’s precise strategy and risk exposure open to interpretation.
Intesa Sanpaolo is Italy’s leading financial institution, with operations spanning commercial banking, asset management, and insurance in Europe and beyond.
Ethereum positions surge as Solana holdings all but disappearWhile reducing its Bitcoin ETF exposure, Intesa Sanpaolo increased its stake in the iShares Staked Ethereum Trust fund. The bank tripled its holding, from 116,200 shares on March 31 to 349,600 shares at the end of June.
Meanwhile, its investment in the Bitwise Solana Staking ETF was almost entirely eliminated, dropping from 2,817 shares to just seven between quarters. Holdings of the Grayscale XRP Trust ETF remained steady at 712,319 shares, showing little to no movement after accounting for possible trading activity that left the quarter-end balance unchanged.
ETFMarch 31 SharesJune 30 SharesChangeiShares Staked Ethereum Trust116,200349,600+201%Bitwise Solana Staking ETF2,8177-99.8%Grayscale XRP Trust ETF712,319712,3190% Intesa Sanpaolo reported a sharp reduction in both its Bitcoin ETF and call option positions, while increasing its staked Ethereum fund exposure more than threefold. The bank’s Solana holdings nearly vanished, with XRP balances remaining unaltered over the quarter.
Form 13F filings reveal only a snapshot at the end of each quarter, presenting limited insight into daily trading or rationale behind trades. The filings do not capture written or short option strategies and lack detail concerning strike prices or expiration dates.
Due to these disclosure gaps, outside observers cannot definitively calculate the bank’s net exposure to any crypto asset based only on publicly available records.
Nevertheless, the data show Intesa Sanpaolo’s declared crypto investments now favor staked Ethereum over Bitcoin, with dramatically reduced exposure to Solana and steady XRP holdings.
Mini dictionary: Form 13F, a quarterly report that US institutional investment managers managing at least $100 million in certain securities must file with the SEC, disclosing their equity holdings as of the quarter’s end.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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.
Palantir’s revenue rose 93% year-over-year, far exceeding expectations, as its "AI Sovereignty" strategy drives a re-rating of its valuation.
Palantir (PLTR)’s latest financial report shows that the company’s second-quarter revenue rose 93% year-over-year to $1.94 billion, net profit hit $1.06 billion, and it significantly raised its full-year performance guidance. Boosted by the results, the company’s stock price climbed more than 12% in after-hours trading on Monday. Palantir forecasts full-year 2026 revenue of at least $8.15 billion, up from its prior expectation of less than $7.7 billion. U.S. commercial business revenue is projected to reach $3.4 billion, growing at least 134% year-over-year, making it the key growth driver. Markets had previously worried that the rapid expansion of AI model firms like OpenAI and Anthropic could erode Palantir’s competitiveness, but this earnings report has reignited investors’ focus on its "AI Sovereignty" business model. Palantir CEO Alex Karp noted that enterprises and governments are seeking control over their own data, AI systems, and decision-making processes, a key source of the company’s growth. The so-called "AI Sovereignty" refers to enterprises preventing their core data from being used for training by external AI model providers, while ensuring AI systems align with their own business needs. Palantir argues that future enterprises need not just base models, but AI platforms that can manage data, integrate into business workflows, and protect competitive advantages. In recent years, Palantir has been expanding its enterprise AI business and criticized the business models of some AI labs, claiming that enterprises pay large fees to model suppliers yet may lose control over their core data. However, Palantir still faces pressure in overseas markets. Due to the company’s long-standing work with the U.S. government and defense sector, some European nations are reducing their reliance on U.S. tech firms. As of the latest quarter, international client revenue makes up about 19% of Palantir’s total revenue, down from 26% in 2025.
11 minutes ago
The Bank of Korea has resumed purchasing physical gold after a 13-year hiatus, aiming to diversify its foreign exchange reserves.
According to South Korea’s Seoul Economic Daily, the Bank of Korea (BOK) has restarted its physical gold purchase plan after 13 years, sourcing gold from South Korean gold producers’ planned exports via the Korea Exchange (KRX) gold market and Korea Securities Depository (KSD) infrastructure. The BOK announced on the 3rd that it has established a cooperation framework with KRX, KSD, and gold producer LS MnM to jointly advance domestic gold procurement. The transactions will be executed as block trades on the KRX gold market, with settlement and custody managed by KSD. The BOK said purchasing export-focused gold is primarily intended to mitigate impacts on domestic gold market prices and reduce interference with intraday market fluctuations through block trades. This marks the BOK’s first resumption of physical gold purchases since 2013. Between 2011 and 2013, the BOK accumulated 90 tons of gold, but suspended procurement after valuation losses stemming from subsequent gold price drops. As of the end of June this year, the BOK’s foreign exchange reserves totaled $427.36 billion, with gold reserves valued at roughly $4.79 billion, accounting for just 1.1%. Against the backdrop of major global central banks continuing to boost gold allocations, the BOK’s move is viewed as a step to diversify foreign exchange reserves and lower concentration in dollar assets. However, the BOK noted future purchase volumes will not be large. South Korea’s annual domestic gold output is around 40 to 45 tons, of which only 4 to 5 tons are exportable. The BOK emphasized that the resumption of gold purchases is not based on gold price trend judgments, but rather on corporate procurement requests, domestic and international gold prices, and market conditions to decide transaction timings.
11 minutes ago
HOME token surges over 30% in a short period, with its market cap climbing to $38.5 million.
Per HTX market data, possibly driven by news that Upbit will list HOME on its KRW and USDT trading pairs, HOME surged over 30% in a short time, currently trading at $0.00899, with its market capitalization rising to $38.5 million.
11 minutes ago
South Korea’s semiconductor cluster has received enhanced policy support, with the government covering up to 100% of its infrastructure construction costs.
Moody's assigns SK Hynix a Class A rating for the first time, as the AI storage boom has boosted the company's performance.
Global credit rating agency Moody’s has for the first time upgraded SK Hynix’s credit rating to the A range, reflecting the chipmaker’s enhanced competitiveness in the AI storage market, as well as improvements in its profitability and cash generation capabilities. The day before, Moody’s raised SK Hynix’s long-term issuer rating and senior unsecured bond rating by one notch, from Baa1 to A3, with a stable rating outlook. This marks the first time SK Hynix has obtained an A-level rating from Moody’s since it was acquired by SK Group in 2012, and it is also the first of the three major international credit rating agencies to assign an A-level rating to SK Hynix. Currently, both S&P Global Ratings and Fitch Ratings assign SK Hynix a rating of BBB+, with S&P holding a positive outlook and Fitch a stable outlook. Moody’s forecasts that SK Hynix will maintain strong profitability and cash generation capabilities over the next 12 to 18 months, with its financial position set to improve further. Moody’s noted that the company has built up sufficient cash reserves, strengthening its ability to withstand downside risks from the semiconductor cycle.
BlackRock has filed with the SEC to issue tokenized fund shares on Solana, marking one of the clearest signals yet that the world’s largest asset manager is moving deeper into blockchain-based finance.
The filing centers on a new product called the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, or BRSRV, an expansion of BlackRock’s existing cash management strategy. BlackRock’s new BRSRV fund on Solana is designed to qualify as a GENIUS Act asset, positioning it specifically to serve as reserve backing for regulated stablecoins under the new legislation.
BREAKING: BlackRock files with the SEC to issue tokenized fund shares on Solana.
BlackRock expanded its cash management strategy with the launch of BlackRock Daily Reinvestment Stablecoin Reserve Vehicle ("BRSRV") on Solana.
The world's largest asset manager, with $15… pic.twitter.com/jqEss1oPG9
— Solana (@solana) August 3, 2026 The fund’s tokenization is being handled by Securitize, according to reports, the same firm BlackRock has worked with on prior tokenization efforts. BRSRV is structured as a multi-chain product, meaning it isn’t limited to Solana alone.
A Second Fund on Ethereum
Alongside BRSRV, BlackRock also just launched a separate tokenized fund called BSTBL on Ethereum. Together, the two products represent a broader push to bring institutional cash management functions onto public blockchains rather than keeping them confined to traditional custodial systems.
The Scale Behind the Move
BlackRock currently manages about $15 trillion in assets worldwide, per reports, a scale that makes any move into tokenized products notable simply because of the size of capital the firm oversees. Bringing stablecoin reserves onchain through a regulated, GENIUS Act-aligned structure signals that BlackRock views tokenization as infrastructure worth building now, not a speculative side project.
Part of a Broader Institutional Pattern
The filing lands alongside other recent institutional moves, including Morgan Stanley’s launch of an Ethereum ETF, feeding into a broader narrative that major financial firms are no longer debating whether to build on public blockchains, but actively choosing which ones. Alongside these developments, on-chain data suggests long-term holders have continued accumulating, retail trading activity has cooled, and earlier waves of forced selling appear largely to have worked through the market, even as regulatory clarity continues improving under the CLARITY Act.
None of these signals guarantee where prices go next. But taken together, they point to institutional conviction building steadily, even in a market where broader sentiment remains far from convinced.
Story Ends Here
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BlackRock has launched a tokenized money market fund designed for stablecoin reserves on the Solana and Ethereum blockchains, according to Decrypt. This move marks an expansion of BlackRock’s existing onchain cash management offerings, which already include a tokenized share class of the BlackRock Select Treasury Based Liquidity Fund (BSTBL) on Ethereum. The initiative aims to provide stablecoin holders and issuers with regulated reserve assets that can yield returns on short-term Treasuries and cash. As the world’s largest asset manager, BlackRock’s continued foray into blockchain-based financial products underscores a growing institutional interest in the tokenized money market sector.
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Key Takeaways BlackRock’s new tokenized money market fund appears to expand its existing blockchain-based offerings, now including Solana alongside Ethereum. Market participants may interpret this development as consistent with increased institutional adoption of Ethereum, suggesting potential impacts on Ethereum’s price outlook. The launch of these products could indicate a broader trend of integrating stablecoin reserves with regulated financial products on public blockchains. What to Watch Observers will likely monitor how the launch of BlackRock’s tokenized funds influences Ethereum’s market dynamics, particularly in the context of Ethereum reaching significant price thresholds by the end of 2026. Key actors such as the Ethereum Foundation and major asset managers like Fidelity may play roles in shaping market sentiment. Additionally, regulatory developments or technological advancements in blockchain infrastructure could further impact Ethereum’s adoption and price trajectory.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31, 2026 1.8% — — View market → December 31, 2026 2.6% — — View market → December 31, 2026 2.8% — — View market → December 31, 2026 4.2% — — View market → December 31, 2026 5.5% — — View market → January 1 2027 10% — — View market → January 1 2027 12.5% — — View market → January 1 2027 2.1% — — View market → January 1 2027 2.9% — — View market → January 1 2027 2.6% — — View market → January 1 2027 4.3% — — View market → January 1 2027 6.5% — — View market → January 1 2027 49.1% — — View market → January 1 2027 8% — — View market → January 1 2027 3% — — View market → January 1 2027 34.5% — — View market → January 1 2027 26% — — View market → January 1 2027 17.5% — — View market → January 1 2027 83% — — View market → January 1 2027 56.5% — — View market →
August 2026 brings another busy month for Solana ecosystem token unlocks, with more than a dozen projects scheduled to release additional supply into circulation.
While July was defined by Pump.fun's large 12-month cliff expiration, August shifts back toward recurring monthly vesting events. Even so, several unlocks coincide with major protocol developments that could shape how market participants interpret the additional supply entering circulation.
As always, token unlocks do not guarantee price movement. However, they remain an important consideration when evaluating potential short-term market dynamics.
Here is a breakdown of the most notable Solana ecosystem token unlocks scheduled for August 2026.
$TRUMP The Official Trump token will release 28.02 million $TRUMP through linear vesting during August. The unlock is valued at approximately $40.90 million and represents 11.28% of the token's circulating supply and 2.80% of total supply.
The unlock comes just weeks after U.S. President Donald Trump's 2025 financial disclosure revealed that cryptocurrency generated more income for him than his traditional real estate, golf, and resort businesses.
The annual filing with the U.S. Office of Government Ethics reported more than $1.4 billion in crypto-related income during 2025. Among the largest contributors were approximately $635.1 million from the $TRUMP memecoin and $236.3 million generated through World Liberty Financial token sales. Combined, those ventures accounted for well over $1 billion in reported crypto-related earnings, highlighting how digital assets have become the president's largest business segment.
$PUMP Pump.fun will unlock 7 billion $PUMP tokens through linear vesting during August. The release carries an estimated value of $14.72 million and represents 1.77% of the circulating supply and 0.83% of the total supply.
At TGE, Pump.fun allocated 33% of the total 1 trillion token supply to team members and existing investors under a vesting schedule consisting of a 12-month cliff followed by 36 months of linear vesting. With the cliff now complete, August marks the second month of those recurring monthly distributions.
$JTO Jito will unlock 18.59 million $JTO tokens through linear vesting during August. The release is valued at approximately $9.19 million and represents 3.67% of the circulating supply and 1.859% of the total supply.
The unlock follows the launch of JTX on July 14, Jito's flagship consumer-facing trading application. The platform expands Jito's ecosystem beyond infrastructure products such as the Jito Block Engine, $jitoSOL, and Block Assembly Marketplace plugins.
According to the JIP-38 proposal, 80% of all JTX revenue flows toward $JTO value accrual, while the remaining 20% will support ongoing protocol development. With JTX now live, August marks the first full month in which the application contributes to Jito's broader ecosystem, making the project's monthly unlock particularly notable as market participants evaluate its long-term impact.
$GRASS Grass will unlock 21.73 million $GRASS tokens beginning on August 28 alongside its ongoing linear vesting schedule. The release is valued at approximately $6.89 million and represents 3.32% of the circulating supply and 2.173% of the total supply.
The unlock follows the launch of Grass Wallet and Grass opening claims for Stage 2 Rewards on July 23, covering bandwidth contributions made between October 14, 2024 and June 8, 2026. Rather than distributing rewards in $GRASS, the protocol paid contributors in $USDC.
The decision sparked widespread debate across the community. Some community members questioned the long-term utility of the native token if network contributors no longer receive incentives denominated in $GRASS.
Attention now turns toward future tokenholder updates, where supporters and critics alike will be looking for greater clarity around token utility, value accrual, and the protocol's broader revenue strategy.
$KMNO Kamino will unlock 229.17 million $KMNO through linear vesting on August 30. The release is valued at approximately $4.19 million and represents 4.39% of circulating supply and 2.29% of total supply.
The unlock continues Kamino's established monthly vesting schedule and remains one of the larger recurring releases among Solana DeFi protocols.
Disclaimer: SolanaFloor is a subsidiary of the Jito Network
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In brief UCLA researchers launched an OnlyFans account called OnlyMarms after traditional research funding became harder to secure. More than 10 OnlyMarms-inspired meme coins have appeared on Solana, though it's unclear who created them or whether they're connected to the research team. The project has become an unlikely example of how internet culture and crypto can converge around scientific research. Scientists behind one of the world's longest-running wildlife studies have turned to one corner of internet culture for funding—and found another waiting for them.
Researchers at UCLA launched an OnlyFans account called OnlyMarms to help support a project that has tracked yellow-bellied marmots in Colorado since 1962 after traditional research funding became harder to secure.
The idea came to professor Daniel Blumstein as research funding dwindled. A graduate student dubbed the account "OnlyMarms," and the team leaned into the joke by promising subscribers "uncensored marmot content." Blumstein said it has also become a way to reach new audiences.
“Maybe this is a different audience than, you know, most of our science communication reaches,” Blumstein told NPR in an interview. “That's great. Turns out, it's even bigger than this.”
The account has generated about $4,000 so far. Blumstein said the project ultimately needs between $75,000 and $100,000 a year to support graduate students and fieldwork, funding that federal grants once provided.
The marmot project has also attracted attention from the crypto community.
Over on Pump.fun, several OnlyMarms-inspired meme coins have appeared, though it's unclear who created them or whether any are connected to the UCLA research team. Blumstein told NPR that the researchers did not create the tokens.
“People have independently created a meme coin and told us to grab the transaction—to register it, and then we get the transaction fees. And that is blowing up,” he said. “Apparently, this is a meme coin for good that people like.”
It wouldn't be the first time an internet-famous animal inspired a cryptocurrency.
In 2024, the Solana token Moo Deng, based on the viral pygmy hippo, launched on Pump.fun and briefly reached a market capitalization of about $680 million before landing listings on major exchanges, including Coinbase.
The researchers have also partnered with a Colorado brewery on a "Marmot Tears" IPA and launched a public "Fat Marmot Week" competition.
Blumstein said the situation reflects the state of scientific funding in the United States, noting that raising money through platforms like OnlyFans is a far cry from how research projects were funded when he was in graduate school.
“No. It's appalling,” he said. “What we're doing is destroying the scientific structure and the university-federal partnerships that made us great, made us rich, made us the scientific leaders of the world. It's being taken apart, and that's really sad.”
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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.
In brief BlackRock launched a tokenized money market fund for stablecoin reserve management. The fund records ownership on Solana, Ethereum, and Tempo while investing entirely in cash and short-term U.S. Treasuries. The product targets institutional investors as tokenized Treasury funds continue to grow. BlackRock is expanding onto Solana with a new money market fund designed for stablecoin reserves, adding the blockchain to its list of tokenized investment products.
The world's largest asset manager on Monday launched the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) alongside tokenized on-chain shares of its existing BlackRock Select Treasury-Based Liquidity Fund (BSTBL).
"Cash remains a foundational building block for investors, corporations, and financial institutions," Jon Steel, Global Head of Product and Platform for BlackRock's Cash Management business, said in a statement. “As demand grows for high-quality reserve assets to support stablecoins and other tokenized financial products, these funds provide clients with additional choice in how they access and use money market fund investment solutions across traditional and digital markets.”
In a prospectus filed with the SEC on Friday, BlackRock said ownership is recorded on Solana, Ethereum, and Tempo, with investors holding shares through approved wallets managed by transfer agent Securitize.
“The Fund issues OnChain Shares through a permissioned system that operates in connection with one or more public, permissionless blockchains, which, as of the date of this Prospectus, include Ethereum, Tempo, and Solana, and may include other supported networks in the future,” BlackRock wrote.
The fund invests entirely in cash, short-term U.S. Treasury securities, and overnight repurchase agreements backed by Treasuries.
According to BlackRock, the fund does not invest in cryptocurrencies.
“The Fund will continue to invest in accordance with the requirements in Rule 2a-7 under the 1940 Act and the terms of this Prospectus,” BlackRock wrote. “The Fund will not invest in any digital assets, including any virtual currencies.”
Wallets must be whitelisted and tied to verified identities, allowing the transfer agent to restrict transfers or, in some cases, freeze, revoke, or reissue tokenized shares. The fund also has a $3 million minimum initial investment.
BlackRock said the fund is structured to qualify as an eligible reserve asset under the GENIUS Act, the U.S. law governing payment stablecoins. Its prospectus also notes that future regulatory changes could affect whether stablecoin issuers can continue using the fund as a reserve asset, while blockchain outages or smart contract flaws could disrupt transactions.
The launch builds on BlackRock's broader tokenization strategy. The firm introduced the BUIDL tokenized money market fund in March 2024, which now manages more than $2.6 billion in assets.
BlackRock joins Morgan Stanley, and Fidelity, which have also introduced products aimed at stablecoin reserve management following the passage of the GENIUS Act.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief BlackRock launched a tokenized money market fund for stablecoin reserve management. The fund records ownership on Solana, Ethereum, and Tempo while investing entirely in cash and short-term U.S. Treasuries. The product targets institutional investors as tokenized Treasury funds continue to grow. BlackRock is expanding onto Solana with a new money market fund designed for stablecoin reserves, adding the blockchain to its list of tokenized investment products.
The world's largest asset manager on Monday launched the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) alongside tokenized on-chain shares of its existing BlackRock Select Treasury-Based Liquidity Fund (BSTBL).
"Cash remains a foundational building block for investors, corporations, and financial institutions," Jon Steel, Global Head of Product and Platform for BlackRock's Cash Management business, said in a statement. “As demand grows for high-quality reserve assets to support stablecoins and other tokenized financial products, these funds provide clients with additional choice in how they access and use money market fund investment solutions across traditional and digital markets.”
In a prospectus filed with the SEC on Friday, BlackRock said ownership is recorded on Solana, Ethereum, and Tempo, with investors holding shares through approved wallets managed by transfer agent Securitize.
“The Fund issues OnChain Shares through a permissioned system that operates in connection with one or more public, permissionless blockchains, which, as of the date of this Prospectus, include Ethereum, Tempo, and Solana, and may include other supported networks in the future,” BlackRock wrote.
The fund invests entirely in cash, short-term U.S. Treasury securities, and overnight repurchase agreements backed by Treasuries.
According to BlackRock, the fund does not invest in cryptocurrencies.
“The Fund will continue to invest in accordance with the requirements in Rule 2a-7 under the 1940 Act and the terms of this Prospectus,” BlackRock wrote. “The Fund will not invest in any digital assets, including any virtual currencies.”
Wallets must be whitelisted and tied to verified identities, allowing the transfer agent to restrict transfers or, in some cases, freeze, revoke, or reissue tokenized shares. The fund also has a $3 million minimum initial investment.
BlackRock said the fund is structured to qualify as an eligible reserve asset under the GENIUS Act, the U.S. law governing payment stablecoins. Its prospectus also notes that future regulatory changes could affect whether stablecoin issuers can continue using the fund as a reserve asset, while blockchain outages or smart contract flaws could disrupt transactions.
The launch builds on BlackRock's broader tokenization strategy. The firm introduced the BUIDL tokenized money market fund in March 2024, which now manages more than $2.6 billion in assets.
BlackRock joins Morgan Stanley, and Fidelity, which have also introduced products aimed at stablecoin reserve management following the passage of the GENIUS Act.
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TLDR Solana Foundation CISO Michael Coates says AI is making crypto scams more convincing through phishing, impersonation, and voice deepfakes. The warning is about social engineering, not a flaw in Solana’s blockchain or smart contracts. Coates previously worked as CISO at Twitter and led security at Mozilla before joining Solana Foundation this year. He says crypto systems need to be secure by default instead of relying on users to spot every scam. Coates also flagged quantum computing as a longer term security concern for crypto networks. Michael Coates, the new chief information security officer at the Solana Foundation, is warning that artificial intelligence is making crypto scams harder to spot. He says the danger comes from social engineering, not weaknesses in blockchain code.
Coates previously served as CISO at Twitter. He also led security efforts at Mozilla during the browser wars. He joined the Solana Foundation earlier this year.
His new role covers more than protecting the foundation itself. He also works with projects across the Solana ecosystem and meets with regulators on cybersecurity standards.
AI Is Changing How Scams Work Coates told CoinDesk that many recent crypto hacks did not come from smart contract bugs. Instead, they came from compromised credentials and fake identities.
“In many cases, it is an operational security issue or a Web2 issue that led to a key compromise,” he said.
He expects this trend to grow worse as AI tools improve. Attackers can now generate realistic messages, fake voices, and convincing identities at scale.
“The social engineering piece is going to get a lot worse because of the power of AI and deepfakes,” Coates said. He warned that fully spoofed phone calls using voices of people victims know could become common.
In crypto, mistakes are often permanent. If someone signs a bad transaction or shares a seed phrase, there is no bank to call and no way to reverse the transfer.
That makes convincing scams especially costly. Coates said attackers will keep looking for any mistake because the funds involved cannot be recovered once stolen.
Building Systems That Expect Failure Coates does not believe scams can be fully prevented. He said even careful users will eventually fall for a well made con.
“You cannot fully prevent anyone from falling victim,” he said. “Eventually, you will be fooled because the cons are that good.”
Because of that, he argues organizations need layered security. If one layer fails, another should still protect the user or the funds.
This applies to individuals and to crypto teams. A fake vendor, investor, or colleague using AI generated audio or messages could trick an employee into approving a transaction or handing over access.
Coates said the industry’s long term success depends on making the secure choice the default one. Users should not need to be security experts to stay safe.
“We need to meet the users where they are, and we need to make the default secure decision for the user,” he said.
He also pointed to quantum computing as a future risk for crypto networks, including Solana. The timing of when quantum computers could break current encryption remains unknown.
“The challenge with quantum readiness is we don’t know when the Q-day will hit,” Coates said. He added that the fix is known: adopting post-quantum algorithms early.
The Solana Foundation has already published its own strategy for preparing for that shift. Coates said whether the threat is AI scams or quantum computing, the same principle applies. Systems should protect users automatically, rather than expecting perfect behavior every time.
Solana (SOL) rebounded above $73 on Tuesday, recovering from an intraday dip near $70.60. Despite the price bounce, two key indicators signal that the move may lack strong conviction from buyers, raising doubts about the sustainability of the recovery.
Sharp drop in Bitfinex longs sparks cautionTraders on Bitfinex, a global cryptocurrency exchange known for its significant influence on leveraged positions, have rapidly reduced their long exposure in Solana. Data cited by Crypto King on X shows a steep decline in aggregate SOL long positions on the exchange, triggering concern among market observers.
Long positions may decrease for several reasons, including profit-taking, risk management, forced liquidations, or asset rotation. Although the contraction in leveraged bets does not imply that traders have access to privileged information or anticipate an immediate price downturn, the pattern often warrants caution during uncertain market moves.
Bitfinex’s public position statistics reveal a notable drawdown in SOL longs, suggesting that part of the market is de-risking as the cryptocurrency attempts to stabilize above recent support levels.
The timing and scale of the position reduction were not disclosed in detail, making it difficult to infer a precise cause. However, persistent selling or lack of aggressive buying on Bitfinex typically undermines bullish momentum, especially during periods of broad market uncertainty.
If SOL falls below the rising intraday trendline and loses the $73 threshold while Bitfinex long interest continues to fall, sellers could target $72, with a further decline potentially leading to another test of support around $70.60. Conversely, a recovery in longs and renewed buyer interest could allow Solana to challenge immediate resistance zones.
Mini dictionary: Bitfinex is a major cryptocurrency exchange that offers trading in digital assets and supports margin and derivatives trading. Its order book and open interest data are often watched for signals related to trading sentiment and large participant activity.
Spot demand lags behind price reboundWhile Solana’s intraday bounce formed a series of higher lows along a short-term trendline, the evidence from the spot market is less convincing. Data posted by Ted on X highlighted a persistent lack of new spot buying during the price recovery, as shown by a flat cumulative volume delta (CVD) reading.
The 15-minute SOL/USD chart reflects a move from $70.60 up to just above $73, but spot CVD remained deeply negative near minus 314,000 and showed little upward momentum. CVD measures the net difference between aggressive market buying and selling, providing insight into the real demand behind price movements.
As Solana traded higher, the absence of a matching improvement in spot CVD indicated that the rally may be driven by short covering or derivatives activity rather than robust spot accumulation.
This divergence does not guarantee that the rebound will fail, but it underlines ongoing vulnerability in the rally’s foundation. If Solana holds its current trendline and overcomes resistance near $73.50 while spot CVD improves, the short-term bullish structure could strengthen. Until then, the move remains at risk of reversal amid subdued real buying interest.
A slip below the support zone around $73, followed by increased selling or continued weakness in spot demand, could pressure SOL toward $72 and possibly the recent low near $70.60. Market participants are closely monitoring these levels for signs of a more sustained direction.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Michael Coates, chief information security officer (CISO) at the Solana Foundation, stated that advancements in artificial intelligence are making cryptocurrency scams increasingly difficult for users to detect. Coates explained that these risks primarily stem from social engineering rather than weaknesses in blockchain coding or Solana’s smart contracts.
Experienced security leader at the helmCoates joined the Solana Foundation earlier this year after serving as CISO at Twitter and leading security initiatives at Mozilla, a technology company known for the Firefox browser. As CISO, Coates is responsible not only for safeguarding the foundation but also for assisting projects within the broader Solana ecosystem and working with regulators to shape cybersecurity standards.
The Solana Foundation focuses on supporting the Solana blockchain, an open-source network designed for fast, scalable decentralized applications and cryptocurrencies.
Mini dictionary: Solana Foundation, a non-profit organization promoting education and adoption of the Solana blockchain by supporting community projects and maintaining network security.
AI-driven scams on the riseCoates reported that, in recent crypto incidents, attackers used social engineering techniques such as phishing, impersonation, and deepfake voice calls to access sensitive credentials. Rather than exploiting smart contract vulnerabilities, many hacks originated from compromised operational security or Web2 systems.
“In many cases, it is an operational security issue or a Web2 issue that led to a key compromise,” said Coates.
He warned that the proliferation of AI-powered tools now allows scammers to create highly realistic phishing messages, fake identities, and imitated voices that can deceive even experienced users. According to Coates, such scams will become more prevalent and sophisticated as deepfake technology improves.
This threat is especially serious in crypto, where transactions are irreversible. If a user unwittingly signs a malicious transaction or shares a recovery phrase, their funds usually cannot be retrieved.
Pushing for built-in security and industry readinessCoates identified the need for layered security, as he does not believe scams can ever be completely prevented. He emphasized that even vigilant individuals and teams may eventually fall for increasingly realistic cons generated by AI.
“You cannot fully prevent anyone from falling victim. Eventually, you will be fooled because the cons are that good,” stated Coates.
He recommended that both organizations and individuals use systems that default to secure settings, rather than relying on users to identify every potential threat. Coates cautioned that anyone working in crypto could become a target, as attackers may combine fake vendor messages or deepfaked audio to trick staff into authorizing unauthorized transactions.
Furthermore, Coates highlighted quantum computing as a longer-term vulnerability for crypto networks. He explained that the timeline for practical quantum attacks remains uncertain, but early adoption of post-quantum cryptographic algorithms is critical for network readiness.
He noted that the Solana Foundation has already published a strategy to prepare for this technological shift, urging the industry to focus on systems that automatically protect users without expecting perfect judgment each time.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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.
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Robinhood Chain Takes the Lead in RWA Holders@RobinhoodCrypto has claimed the top spot in real-world asset (RWA) holder count, surpassing established Layer 1 networks with 365,212 unique addresses according to data from @Rwa_xyz. The milestone is especially striking given that the network only launched its public mainnet on July 1, 2026.
The chain sits ahead of @Solana (323,832 holders) and @BNBChain (299,884 holders) in the race to bring tokenized assets to a broad retail base. @plumenetwork, which has built RWA-native infrastructure from the ground up, follows with 249,276 holders, placing it ahead of @Ethereum at 221,314.
The speed of Robinhood's rise is explained in large part by its existing customer base. Unlike many blockchain projects that first focus on crypto-native users, Robinhood entered the space with millions of existing brokerage customers, and that distribution is translating into rapid adoption of real-world assets. The company can promote blockchain-based financial products directly to approximately 28 million funded brokerage accounts.
Context: Holder Count vs. Asset ValueThe holder count lead does not tell the full story. Ethereum's RWA value sits between $17 billion and $18 billion, while Solana's RWA market exceeds $3.3 billion. Robinhood's distributed asset value of $24.12 million is roughly 0.1% of what Ethereum's RWA ecosystem is worth. In other words, Robinhood Chain leads on breadth of participation, not depth of capital.
Activity on the chain has also been mixed in its early weeks. Tokenized assets are not yet the chain's dominant activity driver, with meme coin trading currently accounting for the majority of decentralized exchange volume, even though tokenized stocks are viewed as the network's long-term differentiator. More recently, however, momentum has shifted. The value of tokenized equities and related holdings has climbed rapidly, with the market capitalization of RWAs on the network growing approximately fivefold over a two-week span and exceeding the $70 million threshold.
Robinhood Stock Tokens are accessible in over 120 countries and issued as debt securities by Robinhood Assets (Jersey) Limited. The chain runs on the Arbitrum Orbit stack with 100-millisecond block times, integrations with Chainlink oracles for price feeds, and support for the Paxos-issued USDG stablecoin.
The broader RWA sector is expanding quickly as well. The number of RWA holders across all chains has grown to 1.09 million, up from around 375,000 a year ago. Whether Robinhood Chain can convert its holder lead into deeper balances and sustained transfer activity remains the key question for the months ahead.
Sources:
Crypto Briefing: Robinhood surpasses Solana in RWA holder count
CryptoPotato: Robinhood Chain becomes largest blockchain by RWA holder count
Crowdfund Insider: Robinhood Chain RWAs surge as tokenized stocks scale up
Michael Coates, the newly appointed chief information security officer at the Solana Foundation, has raised alarms about how artificial intelligence is transforming cryptocurrency-related fraud into something far more convincing and harder to detect.
In a recent interview, Coates stressed that the industry’s most pressing risks are shifting away from traditional smart contract flaws toward sophisticated social-engineering tactics powered by AI tools such as deepfakes. Coates previously served as Twitter’s first CISO and held a senior security position at Mozilla.
Recent high-profile incidents in crypto, Coates observed, often stem not from vulnerabilities in blockchain code but from offline weaknesses. These include compromised credentials, operational security lapses, and traditional Web2-style attacks that ultimately allow attackers to seize private keys or seed phrases.
“You have to do everything that a Web2 company has to do for security, and the incremental uniqueness to Web3,” he explained.
Motivated adversaries who can irreversibly drain funds will exploit any available opening. What concerns Coates most is the accelerating impact of AI. Social-engineering attacks, he warned, are poised to intensify thanks to deepfake technology.
Scammers will increasingly generate fully spoofed phone calls that replicate the voices of people victims know and trust.
Romance scams and so-called pig-butchering schemes already target crypto holders; AI simply makes the deception more polished and persuasive, raising success rates for schemes that once appeared implausible. Coates is realistic about human limitations. It is impossible to ensure that no one ever falls victim, because the cons are becoming exceptionally sophisticated.
“Eventually, you will be fooled because the cons are that good,” he said.
Therefore, the industry must design systems that remain protective even after a user has been deceived.
Organizations need multiple layers of security controls so that when one layer fails, others continue to safeguard assets.
This could include features such as withdrawal delays, transaction limits, multi-party approvals, and recovery mechanisms that function after an attacker has obtained apparent consent.
Looking further ahead, Coates also addressed the longer-term challenge of quantum computing.
While the exact timing of a cryptographically relevant quantum computer remains uncertain, the path to readiness is clear: adopt post-quantum algorithms.
The Solana Foundation has already outlined its own strategy for quantum readiness.
Ultimately, Coates argued that success depends on building defenses that protect users by default rather than requiring them to become security experts.
“We need to meet the users where they are, and we need to make the default secure decision for the user,” he stated. By combining proper technical measures with an understanding that people can be tricked, the crypto sector can better withstand the evolving threats posed by AI-enhanced fraud.
Solana price slipped below $73 on Aug. 3 as weak spot demand and sustained capital outflows raised the risk of a drop toward $70.
Summary
Solana price fell 1.47% to $72.55, placing the token near its daily lower Bollinger Band. The 4-hour chart shows SOL below all four tracked moving averages, with the 200-period SMA at $76.79. Chaikin Money Flow dropped to -0.17, indicating that selling pressure continued to outweigh buying demand. Liquidation liquidity is concentrated near $73.50–$74.50, making that zone the first major upside test. Solana price extends its decline below $73 According to data from crypto.news, Solana (SOL) price traded at $72.55 on Aug. 3, down 1.47% on the daily chart after moving between an intraday high of $73.67 and a low of $71.98.
The decline extended a broader pullback from the July high near $82.50. SOL has formed a sequence of lower highs since that peak, with sellers defending rebounds around $78 and then $76.
Solana price daily chart — Aug. 3 | Source: crypto.news Price has now fallen below the daily Bollinger Band midpoint at $75.09. This level previously acted as support but has turned into the first major resistance area.
SOL briefly moved below the lower Bollinger Band at $71.49 before recovering above $72. That reaction shows buyers remain active around $71.50–$72, but the limited rebound suggests they have not regained control.
The Awesome Oscillator stood at -3.56, with its red bars expanding below zero. That reading points to strengthening bearish momentum on the daily timeframe rather than an immediate trend reversal.
Flat spot demand weakens SOL’s recovery Solana attempted to rebound after falling toward $71 on Aug. 2, but spot demand failed to recover alongside price.
Analyst Ted Pillows described the divergence as a sign of weakness.
“$SOL is bouncing back. But spot demand is flat. Sign of weakness.”
The 4-hour Chaikin Money Flow reading supports that view. CMF fell to -0.17, meaning more capital was leaving SOL than entering it during the measured period.
Solana price 4-hour chart — Aug. 3 | Source: crypto.news Declining spot participation can leave a rebound dependent on leveraged derivatives positions. Such moves are more vulnerable to reversals because they lack the direct buying pressure needed to absorb new selling.
The weakness also comes as activity tied to speculative Solana tokens cools from previous peaks. Lower decentralized exchange activity and weaker fee generation would reduce one source of demand for SOL, which traders need to pay network fees and interact with on-chain applications.
Four-hour indicators keep sellers in control Solana remains below every major moving average displayed on the 4-hour chart. The 20-period SMA stands at $72.96, followed by the 50-period SMA at $73.88 and the 100-period SMA at $75.06.
The 200-period SMA, currently near $76.79, represents the strongest overhead technical barrier. SOL would need to reclaim that level to weaken the current sequence of lower highs.
The moving averages are also bearishly ordered, with each shorter-term average sitting below the longer-term measures. That structure suggests the decline is established across several trading horizons.
A move above $72.96 could open a retest of $73.88. The $73.88–$75.06 range is particularly important because it combines two moving averages with liquidity visible on the three-day liquidation heatmap.
Failure to reclaim that area would leave SOL exposed to another test of $71.50. A daily close below the lower Bollinger Band could bring $70 into focus, followed by the June support region near $67.50.
Liquidation clusters could increase volatility CoinGlass’ three-day liquidation heatmap shows the largest nearby concentration of leveraged positions above the current price, particularly around $73.50–$74.
Solana liquidation heatmap | Source: CoinGlass Additional liquidity appears near $74.50 and $76, creating potential targets if SOL begins a short-covering rebound. A move into these clusters could force bearish traders to close positions, accelerating the recovery.
However, liquidity also appears below the market around $71.50 and $70. These clusters could attract price if support near $72 fails.
This leaves SOL between competing liquidity zones. The closer upside concentration could produce a short-term bounce, but the weak CMF reading and bearish moving-average structure suggest any recovery must be confirmed by stronger spot buying.
Fee-burn vote offers Solana a potential catalyst SolanaFloor reported that proposals addressing Solana’s fee burn and token disinflation were set to enter an initial vote on Aug. 3.
BREAKING: @Solana’s fee burn and disinflation proposals are set to enter an initial vote today.
Together, they would double annual disinflation to 30%, cut emissions by $1.36B over six years, and raise daily burns from 650 $SOL ($47K) to 9,000 $SOL ($646K). pic.twitter.com/hiGQ8nW7Oa
— SolanaFloor (@SolanaFloor) August 3, 2026 According to the report, the measures would double annual disinflation to 30%, remove about $1.36 billion in projected token issuance over six years and increase daily burns from roughly 650 SOL to 9,000 SOL.
Those figures remain projected outcomes rather than confirmed changes. The proposals must progress through governance before they can alter SOL’s supply dynamics.
For US investors, the immediate backdrop also remains tied to broader risk appetite. High-beta tokens such as SOL can face added pressure when elevated Treasury yields make lower-risk dollar assets more attractive. A shift in Federal Reserve expectations or US yields could therefore affect whether buyers return at the current support zone.
The short-term outlook remains bearish below $75.06. Reclaiming that level would improve the setup and expose $76.79, while a confirmed break below $71.49 would increase the risk of a move toward $70.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
For years, $SOL holders have expressed concerns and frustrations over the network’s issuance rate.
At the current inflation rate of 3.715%, over ~23.4M $SOL (worth ~$1.56B), will be distributed among stakers over the next year, a figure ecosystem leaders argue is counter-productive to the needs of the network.
Fortunately for disgruntled $SOL holders, the network is set to vote on not one, but two critical governance proposals this week designed to resolve Solana’s tokenomics: SIMD-0550, and SIMD-0553.
Voting for SIMD-0550 and SIMD-0553 to Open This Week Nine months after Helius engineer _lostin_ first floated SIMD-0411, $SOL holders are finally able to actionably express their view on $SOL tokenomics. Alongside votes for the recently renamed disinflation proposal, SIMD-0550, $SOL stakers will also be able to vote on SIMD-0553, which aims to introduce a resource-based token burn mechanic.
Early votes are expected to go live today, on August 3rd. Consistent with Solana’s governance mechanics, proposals that receive support from at least 15% of stake are progressed to a final vote, where they are ultimately approved or rejected by the wider Solana ecosystem.
Unlike previous issuance-based proposals, like the infamously polarizing SIMD-0228, both SIMD-0550 and SIMD-0553 are expected to pass with flying colors. Both proposals have been met with resounding public support from all corners of the ecosystem, with the vast majority of network participants eager to see productive changes in $SOL tokenomics.
What can $SOL holders expect from each proposal?
SIMD-0550: Reduce Inflation Authored by Helius engineer _lostin_, SIMD-0550 is the formal successor to SIMD-0411, a proposal originally drafted in November 2025, and the spiritual successor to SIMD-0228. Where SIMD-0228 was divisive due to its complexity, SIMD-0550 is simple, both from a public understanding and a technical implementation.
SIMD-0550 promises to double Solana’s disinflation rate from 15% per year to 30% per year, effectively halving the time it will take for the network to reach its terminal inflation rate of 1.5%.
According to Helius’ 0xIcihgo, SIMD-0550 implementation reduces the time to terminal inflation by ~3 years, saving an estimated $1.5B in $SOL emissions. Reception to the proposal has been overwhelmingly positive, earning the seal of approval of Solana Labs founder Anatoly Yakovenko.
If approved, SIMD-0550 is expected to have a positive impact on $SOL price action. Advocates argue that reduced emissions will lead to reduced sell pressure from validator operators, who often need to liquidate rewards to meet operational costs.
SIMD-0553: Increase $SOL Burn Where SIMD-0550 is a simple rate-change designed to bring down inflation, SIMD-0553 is a more complex and ambitious proposal. Initially proposed as SIMD-0547, the document was renumbered at formalization, and is now referred to as SIMD-0553.
Authored by Temporal cavemanloverboy, the same engineer who single-handedly orchestrated a 100k-TPS spike of activity on the Solana Mainnet, SIMD-0553 seeks to introduce a resource-base fee burn. If approved, SIMD-0553 would programmatically remove $SOL tokens from circulation based on how much compute they consume.
Currently, Solana transaction costs are calculated based on several variables, including CU (compute unit) consumption, data load, and write locks. Under SIMD-0550, the network would add a base fee to every transaction, which scales based on its complexity.
Specifically, SIMD-0553 recommends charging and burning 0.1 lamport (one-billionth a $SOL) per cost unit requested. Effectively, the more complex the transaction, the higher the burn rate.
Critically, cavemanloverboy has asserted that SIMD-0553 will have a limited impact on non compute-intensive transactions, like market maker updates and validator voting costs, ensuring Solana maintains its competitive advantage for HFT.
Early estimates from various sources suggest that SIMD-0553 could increase Solana’s burn rate from anywhere between 2592-21,600 $SOL per day.
While implementing a resource-based burn mechanism is encouraged for $SOL scarcity and value accrual, the token is still far from net-deflationary. Blockworks data suggests that, currently, around 62k $SOL enters circulation via issuance everyday.
However, it’s important to note that this data is drawn from Solana’s existing network activity. At a fundamental level, upcoming technical improvements like Alpenglow, Agave 4.2, and a recent raise on the network’s block limit all facilitate greater scalability and onchain app diversity, which may accelerate resource-based burn rates in the future.
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Solana is taking another swing at tightening its monetary policy. Two governance proposals, SIMD-0550 and SIMD-0553, are advancing through the network’s voting process this week, and together they represent the most aggressive tokenomics overhaul Solana has attempted since the failed SIMD-0228 vote in early 2025.
What SIMD-0550 and SIMD-0553 actually do SIMD-0550, submitted on June 2, 2026, by Helius engineer lostintime101, doubles the annual disinflation rate from 15% to 30%. Solana’s inflation rate currently decreases by 15% each year, slowly grinding down toward a terminal rate. At the current pace, reaching that terminal rate takes roughly 5.7 years. SIMD-0550 would compress that timeline to about 2.8 years. By accelerating the decay curve, the proposal would eliminate approximately $1.5 billion in future SOL emissions over six years.
SIMD-0550 has already cleared a meaningful hurdle. The proposal has been promoted for a formal Solana Governance Proposal vote, with Anza reviewers signaling near-approval through GitHub comments posted between June 10 and 14. Firedancer’s sign-off remains pending, which is the last major technical checkpoint before the broader validator community weighs in.
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SIMD-0553, submitted the following day by fellow Helius engineer 0xIchigo, proposes restructuring Solana’s fee system by introducing a burned resource fee tied to compute units. Under current conditions, the network burns roughly 650 SOL per day. SIMD-0553 could push that figure to approximately 9,000 SOL daily under favorable network activity conditions, nearly a 14x increase in daily burns.
Combined, the two proposals could push net SOL supply growth below the 1.5% terminal inflation target, creating something closer to a deflationary dynamic during periods of high network usage.
Why this time might be different In March 2025, SIMD-0228 attempted to accelerate inflation decay through a market-based emissions mechanism. It attracted only 37.8% validator support, well short of the 66.67% supermajority required to pass. SIMD-0550 appears to have learned from that experience. Rather than introducing a novel market-based system, it simply adjusts an existing parameter — changing the disinflation rate from 15% to 30% doesn’t require new infrastructure. It’s a knob turn, not a rebuild.
The proposals have secured public backing from key figures including Solana co-founder Anatoly Yakovenko. Helius also operates one of Solana’s most widely used RPC infrastructure providers, giving the firm credibility among validators who depend on its services daily.
What this means for SOL holders and the broader market Cutting $1.5 billion in future emissions removes persistent selling pressure: every epoch, newly minted SOL enters circulation and a portion gets sold by validators covering operational costs. If daily burns genuinely scale from 650 to 9,000 SOL during high-activity periods, network usage directly reduces circulating supply. A network approaching its terminal inflation rate in 2.8 years rather than 5.7 years reaches supply equilibrium faster, compressing the period of dilution.
The risk is that validators reject the proposals again. Staking yields would decline faster under SIMD-0550, and smaller validators operating on thin margins might view that as an existential threat. The 66.67% threshold is deliberately high, designed to prevent changes that lack broad consensus.
With SIMD-0553, tying burns to compute units means the deflationary effect scales with network activity. During quiet periods, burns could remain modest, making the burn mechanism less impactful precisely when supply reduction would matter most.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
As Solana puts two supply proposals to an initial vote, the network moves to burn more fees and slow down the creation of new SOL coins.
Solana (SOL) is preparing to tighten the flow of new tokens entering circulation while destroying a larger share of the fees users pay to transact.
According to a report from SolanaFloor published on Aug. 3, two related proposals are set to go to an initial vote later that day.
The measures deal with how quickly new SOL, the Solana network's native token, is created, and how much of each transaction fee is permanently removed, or "burned," from supply.
Burning a token means sending it to an unusable address so it can never be spent again, which permanently reduces the total supply.
Solana is a decentralized, public blockchain network that records transactions and runs applications without a central authority. It is known for fast, low-cost transactions, which has made it a popular home for crypto trading, payments, and tokenized real-world assets.
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Its native token, SOL, is used to pay network fees and reward the participants who help secure the network.
Trending on TheStreet Roundtable:U.S. Treasury attacks Iran's Hormuz 'extortion' networkBillionaire Ray Dalio reveals exact Bitcoin allocationAmericans who lost money in a crypto bankruptcy get a second chanceWhat proposals' passage would changeIf both proposals pass, Solana's annual inflation reduction rate would rise to 30%. Inflation reduction here refers to the pace at which the network slows the creation of new tokens each year, a higher rate means issuance tapers off faster. The change would cut new SOL issuance by roughly $1.36 billion over the next six years compared with the current schedule.
The proposals would also lift the amount of SOL burned each day. Average daily burns are projected to climb to about 9,000 tokens, up from roughly 650 now. Burning permanently takes tokens out of circulation, so a higher burn rate steadily shrinks the available supply.
Combined effect on SOL supplyTaken together, the two changes pull in the same direction: fewer new tokens created and more existing tokens destroyed. The report notes that this combination would help ease supply pressure on SOL by tightening how many tokens are available over time.
The outcome of the initial vote will determine whether the proposals advance further through Solana's governance process.
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According to U.S. network CBS, citing a U.S. official, despite Trump’s earlier announcement that negotiations with Iran would begin Monday afternoon (local time), no new talks are currently scheduled. Instead, ongoing discussions are underway between U.S. Middle East envoy Witkoff, Kushner, and the U.S. negotiating team and Iran via intermediaries.
1 hours ago
The Nasdaq’s gains expanded to 2%, with Google surging over 5% and Tesla rising 3.8%.
According to market data from Bit (Bit.com), the Nasdaq’s gain widened to 2%, the S&P 500 rose 1.3%, and the Dow rose 1%. Oracle (ORCL.N) climbed 7.3%, Google (GOOG.O) gained over 5%, Amazon (AMZN.O) and Microsoft (MSFT.O) rose over 4%, Tesla (TSLA.O) increased 3.8%, and Nvidia (NVDA.O) gained 3.2%.
1 hours ago
Jensen Huang: AI infrastructure investment will create a large number of six-figure-paying technical positions.
NVIDIA CEO Jensen Huang said the wave of AI infrastructure development will not only drive growth in the software sector, but also create numerous high-paying technical jobs that do not require a college degree. Speaking in a conversation with BlackRock CEO Larry Fink at the World Economic Forum in Davos, Huang noted that the world is undertaking "the largest infrastructure build in human history," with large-scale construction of AI data centers, semiconductor factories, and AI facilities set to generate massive employment opportunities. He pointed out that future high-paying roles will not only include software engineers and computer scientists, but also electricians, plumbers, steelworkers, and data center construction and maintenance personnel. "You don’t need a computer science PhD to earn a good income," he said. Global tech firms are projected to invest around $7 trillion in AI infrastructure by the end of this decade. As data centers and semiconductor facilities expand rapidly, demand for skilled industrial workers is rising steadily. McKinsey data shows that between 2023 and 2030, the U.S. will need an additional roughly 130,000 trained electricians, 240,000 construction workers, and 150,000 construction supervisors to meet infrastructure build requirements. Meanwhile, the impact of AI on traditional white-collar job markets has drawn attention. Ford CEO Jim Farley noted that AI is reducing demand for entry-level roles at tech companies, but the U.S. manufacturing and construction sectors still face severe labor shortages. Farley added that the U.S. is currently grappling with a major shortage of factory and construction workers, and future AI-driven reshoring of manufacturing and infrastructure investments will require more skilled industrial talent. BlackRock CEO Larry Fink has previously emphasized that skilled technical workers like electricians are critical for building and operating large AI data centers.
SP3ND Takes USDC Shopping Beyond Amazon and eBay@SP3NDdotshop has launched a Chrome extension that lets users pay with $USDC on @solana across the open internet, moving well beyond its original Amazon and eBay checkout service. SP3ND processes orders for crypto holders across 48+ countries, accepting payment in SOL, USDC, and other Solana tokens. The extension removes the usual friction of converting crypto to fiat before spending it. There is no KYC requirement for orders under $10,000, with wallet screening limited to OFAC compliance checks.
SP3ND never holds user funds. Shoppers pay directly from their wallet, and SP3ND uses its own treasury to source and ship the product. That non-custodial structure is central to the product's pitch: no off-ramp, no intermediary, and no card required.
Solana and Yakovenko Signal SupportThe launch got a notable boost from the Solana ecosystem itself. Solana's official account amplified the announcement, and co-founder Anatoly Yakovenko (@toly) reshared it, lending meaningful visibility to a project working to turn stablecoins into everyday spending money.
The endorsement lands at a moment when Solana's stablecoin infrastructure is maturing quickly. Solana hosts the second-largest pool of USDC behind Ethereum, and has become a default home for payment apps and DeFi protocols that need stablecoin transfers measured in fractions of a cent. The network's low fees, fast finality, and mobile-friendly tooling increasingly point toward stablecoin payments at retail scale as a compelling use case.
SP3ND's expansion into open-internet checkout puts it at the intersection of those broader trends, offering a direct consumer application for on-chain dollar spending at a time when institutional and retail interest in $USDC on Solana is accelerating.
Sources:
SP3ND official site
Solana Ecosystem Roundup, March 2026 (Solana.com)
USDC on Solana: Second-Largest USDC Chain Explained (eco.com)
Solana is experiencing a marked surge in network adoption, as recent data shows a significant rise in wallet activity and robust institutional inflows. The blockchain platform, known for its high throughput and fast transaction times, continues to capture investor attention as both retail and institutional participation strengthen across its ecosystem.
Network activity and wallet growthAccording to data analytics platform SolanaFloor, July saw the number of active trading wallets on the Solana network reach a seven-month peak. Approximately 609,000 unique wallets engaged in trades, indicating renewed participation from both individual and institutional users. This upswing reflects growing confidence in the expansion of Solana-based decentralized applications and broader blockchain services.
The increase in active wallets is widely interpreted as a sign of deepening on-chain engagement, with users interacting across decentralized exchanges, DeFi platforms, and different token markets built on Solana. Sector analysts view rising wallet numbers as an encouraging sign for network adoption and liquidity, which could reinforce Solana’s long-term growth trajectory if the trend endures.
Over 609,000 unique wallets conducted trades in July, marking the highest level of activity on Solana in the past seven months and signaling renewed interest from both retail and institutional participants.
If this pattern persists, observers suggest that confidence in Solana’s ecosystem and its decentralized projects may continue to strengthen, supporting future development and broader adoption.
Institutional demand intensifies with Bitwise ETF inflowsInstitutional demand continues to play a critical role in Solana’s upward trajectory. According to figures compiled by analytics firm Arkham, asset manager Bitwise has now acquired $891.9 million worth of SOL through its BSOL exchange-traded fund, positioning it as the largest Solana-based ETF by assets.
This fund now accounts for nearly 80% of total Solana ETF inflows, underlining significant institutional demand as investors pursue regulated access to Solana’s blockchain network.
Through these sustained inflows, Bitwise has become one of the top holders of SOL, driving speculation that further acquisitions may occur if investor interest remains strong.
As exchange-traded funds must purchase the actual cryptocurrency when issuing shares, any additional investment in BSOL is expected to result in further accumulation of SOL for the fund.
Mini dictionary: Bitwise—An established asset management firm, Bitwise offers cryptocurrency index and single-asset funds to accredited and institutional investors, aiming to provide regulated pathways into various digital assets.
FundSOL holdings (USD)Share of ETF inflowsBitwise Solana ETF (BSOL)$891.9 million80%Other Solana ETFs$223 million (approx.)20%SOL price at key level amid cautious optimismDespite positive signs on-chain and continued ETF acquisitions, the price of SOL stands at $73.08, indicating neutral market sentiment. Noted crypto analyst BitGuru emphasized that SOL has now entered a crucial support zone, garnering increased attention from traders and market participants.
Buyers are starting to defend this level, which analysts suggest could signal the potential for renewed bullish momentum if the support holds. Historically, similar activity around key support regions has preceded upward moves in SOL’s price.
Market participants highlight that confirmation of a rebound from current support is essential for sustaining any potential uptrend in SOL, as trading activity intensifies around the $73 price level.
Technical analysts report that if trading volumes continue to recover, SOL could move toward resistance near $78. However, a breakdown of the current support zone may increase selling momentum and potentially push prices lower.
Price LevelStatus$73Support zone$78Resistance targetLooking ahead, market observers note that further progress for Solana will depend on buyers’ ability to maintain key support areas, along with sustained network and institutional engagement.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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.
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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.
Solana (SOL) is trading in the red on Monday, losing bullish momentum and remaining capped below its 50-day Exponential Moving Average (EMA) at $75.68. SOL-focused Exchange Traded Funds (ETFs) show resilience with a monthly inflow of $14.62 million in July, while the near-term retail support wanes with the funding rate turning negative. The technical outlook for SOL is mildly bearish as downside momentum gains traction.
Solana loses retail strength despite resilient ETF inflowsSolana is facing reduced speculative demand as broader crypto market sentiment weakens, while institutional investors remain resilient. CoinGlass data shows that SOL futures trading volume fell 14% over the last 24 hours to $3.66 billion, indicating reduced retail activity. Meanwhile, the funding rate – the premium traders are willing to pay to hold a position – has flipped negative to -0.0011% from a peak of 0.0062% on Sunday, pointing to a bearish bias.
On the other hand, SOL ETFs recorded $2.82 million in inflows last week, extending a streak of five consecutive weekly inflows and bringing July inflows to $14.62 million. This marks the lowest monthly positive flow, up from $786,580 in outflows in May, which could be an early sign of renewed institutional demand.
SOL ETFs data. Source: Sosovalue
SOL derivatives data. Source: CoinGlassTechnical outlook: Will Solana price drop below $70?Solana maintains a bearish near-term tone, capped below its 50-day EMA at $75.68 and well under the 200-day EMA at $92.69. From a technical perspective, SOL trades below a descending trendline near $76.06 and is heading toward the support trendline near $71.30.
A decisive close below this zone could extend the decline toward the 78.6% Fibonacci retracement of the downswing from the $98.41 high to the $60.13 low, at $66.81
Momentum aligns with this capped structure, as the Relative Strength Index (RSI) at 43 hovers below the midline and the Moving Average Convergence Divergence (MACD) remains negative below the signal line, suggesting firm downside pressure.
SOL/USDT daily price chart.On the topside, immediate resistance is clustered between the 50-day EMA at $75.68 and the trendline break level at $76.06. Further up, the 50% retracement at $79.27 defines a key barrier before the 23.6% retracement at $87.60 and the 200-day EMA at $92.69.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Heavy deleveraging in a choppy market can often turn bullish if the impact remains limited.
Right now, Solana’s [SOL] price action is showing a similar setup. One analyst pointed out that Bitfinex whales have closed massive long positions, meaning these whales have cut their bullish exposure and exited their SOL longs.
Despite this liquidity influx, SOL continues to chop around $70, showing strong underlying strength.
The setup becomes even clearer when looking at liquidation data. According to CoinGlass, Solana started August with $16 million+ in long liquidations, the biggest daily wipeout of bullish positions in nearly a month.
Meanwhile, short liquidations were around $187k, meaning long liquidations were 85x higher than shorts.
Source: CoinGlass Taken together, Solana’s liquidation event and its ability to hold key levels point to a potential bullish setup.
The logic is simple: When too much leverage gets wiped out, it often clears excess risk from the market. With overleveraged longs flushed out, SOL could have room to recover if Spot demand returns.
In this context, Bitfinex whales cutting their SOL longs could be part of this reset, allowing SOL to stabilize and potentially bounce from the $70 support zone.
That said, one analyst pointed out that despite the shakeout, Solana’s spot demand is still weak, with muted ETF flows showing that buyers remain cautious. This raises the question: Are Bitfinex whales simply resetting leverage, or are they positioning for more downside for Solana?
Solana price holds strong, but whale exit warns of risk Zooming out, Solana’s whale exit may reflect broader market concerns.
According to the Kobeissi Letter, crypto is entering a critical macro week with key economic data releases ahead, starting with manufacturing data and ending with July’s jobs report on Friday.
With September FOMC rate hike odds recently climbing toward 60%, these releases could set the tone for the next market move.
As a result, markets are preparing for tighter liquidity conditions heading into late Q3 and Q4. However, crypto liquidity is also starting to weaken. As the chart below shows, July marked the third straight month of net stablecoin outflows, highlighting declining liquidity across the market.
Source: DeFiLlama This naturally puts Solana’s whale exit in a bigger context.
The logic is simple: Solana’s price volatility, soft Spot demand, and long liquidations are lining up with an uncertain macro backdrop, increasing the risk of a breakdown below the $70 support zone.
In this context, Bitfinex whales cutting their SOL longs could signal growing caution among large players.
Moreover, with other high-cap assets showing similar weakness, these exits could be more than just a “Solana-specific” move. Instead, they may hint at rising risk across the broader crypto market.
Final Summary Solana is holding near $70 despite whale long closures and heavy liquidations. SOL faces bigger risks as tighter liquidity, stablecoin outflows, and macro uncertainty suggest whale exits could signal broader crypto weakness.
Despite multiple attempts to reach higher levels, XRP is still under pressure; the asset is currently trading at about $1. 08. The recent symmetrical triangle that had been forming throughout the second half of July has resolved to the downside, according to the daily chart. Even though the breakdown hasn't led to aggressive selling, it shows that buyers still don't have enough momentum to buck the general trend.
Overall, the technical situation is still negative. The 50-day EMA ($1.09), 100-day EMA ($1.10), and 200-day EMA ($1.20) are all still below where XRP is trading. Any attempt at a recovery will probably encounter strong selling pressure before a more significant trend reversal can even start because those moving averages now create a stacked resistance zone directly above the current price.
XRP/USDT Chart by TradingViewAfter the triangle breakdown, volume has also stayed comparatively quiet. Significant reversals are usually accompanied by increased trading activity, but this confirmation has not yet materialized.
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Rather, market participation has steadily decreased, indicating that traders are holding off on making capital commitments until they see a more potent catalyst. The same hesitancy is reflected in momentum indicators. XRP is in neutral territory as the Relative Strength Index is close to 47.
The market isn't strong enough to indicate a resurgence of bullish momentum or oversold enough to encourage aggressive bargain hunting. For bulls, recovering the 50-day EMA around $1.09 is the primary goal. The 100-day EMA close to $1.10 would come into focus with a successful move above that level.
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The psychologically significant $1.20 area, where the long-term 200-year EMA presently resides, would become accessible if both moving averages were cleared. On the downside, XRP may experience another leg lower toward the $1.00 psychological level if the $1.05-$1.06 support area is not maintained.
The longer-term downward trend would be strengthened and market sentiment would be considerably weakened if that threshold were to be broken. For the time being, XRP is stuck between weakening momentum and close support; whether buyers can eventually reclaim the cluster of moving averages overhead will probably determine the next big move.
Can Bitcoin turn into growth?After the sharp correction that erased its spring rally, buyers and sellers have shown little urgency as Bitcoin continues to consolidate around $63,000. After failing to maintain gains above $80,000 earlier this year, the daily chart shows a market looking for direction.
Over the past few weeks, Bitcoin has developed a comparatively stable trading range, in contrast to many other altcoins. The 50-day EMA, which is currently nearly exactly at the market price at $63,950, has seen a compression in price action. Instead of a strong directional trend, this suggests short-term equilibrium.
BTC/USDT Chart by TradingViewThe overall picture is still difficult, though. Bitcoin is still trading below the 200-day EMA, which is close to $72,800, and the 100-day EMA, which is at about $67,200. The fact that these longer-term moving averages are still sloping downward suggests that the macro trend has not yet turned back in favor of buyers.
Additionally, volume has decreased during the current phase of consolidation. As volatility decreased, trading activity has progressively decreased rather than exhibiting accumulation. Although a larger move is frequently preceded by declining volume, there is currently little indication on the chart regarding the potential direction of that breakout.
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A neutral market with no significant buying or selling extremes is reflected by the Relative Strength Index, which is currently at 46. This is consistent with Bitcoin's fluctuations over the previous month. Around $67,000, the 100-day EMA continues to be the main barrier.
Regaining that level would enhance the technical outlook for Bitcoin and might inspire another attempt to reach the 200-day EMA around $73,000. Recovering above both moving averages would be the first significant indication of a trend reversal since the correction started.
Support is still concentrated between $62,000 and $63,000, where buyers have frequently found Bitcoin in recent weeks. The market would probably experience another drop towards $60,000, a level with both technical and psychological significance, if that zone were lost. Bitcoin is currently stuck in a consolidation phase.
Cardano's return potential Cardano has had one of its best daily results in weeks, rising by almost 9% to trade at about $0. 19. After months of continuous weakness, the rally lifted ADA above both its 50-day and 100-day EMAs, which is a positive technical development. But the action has put the asset squarely in a significant resistance area, which may decide whether or not this recovery can continue.
The 200-day EMA, which is close to $0. 197, is currently the most significant barrier. This moving average has historically served as a boundary between long-term bullish and bearish trends, and ADA is currently testing it for the first time since the June decline. The technical outlook would be greatly improved by a decisive daily close above that level, which might lead to more buying from traders awaiting trend confirmation.
During the rally, trading activity increased significantly, indicating real participation rather than a low-volume price spike. Additionally, momentum has increased; the Relative Strength Index has risen to about 66. Even though that is getting close to overbought territory, there is still time for another leg higher before buyers give up. Still, traders need to exercise caution.
Even though ADA has recovered its shorter-term moving averages, it is still in a wider downtrend over the longer time frame. The current rally may simply turn into another lower high within the longer bearish structure if bulls are unable to close above the 200-day EMA. The first significant support on the downside is now the recovered $0.168-$0.170 region.
The bullish structure created during the breakout would be maintained by holding above that area. ADA would probably return to the mid-$0. 15 range if it lost it. As of right now, buyers are clearly in the lead. Whether Cardano is starting a true trend reversal or just staging another relief rally inside a much larger bearish cycle will be determined by the next few daily candles.
Solana's attempt to gain foundationSolana has stabilized at $73, but it still faces long-term resistance. The asset is still trapped between close support and a group of moving averages that consistently cap each attempt at recovery after several weeks of sideways trading. In a technical sense, the situation is still unclear.
SOL is trading near the 50-day EMA and below both the 100-day EMA at $75 and the 200-day EMA at $79. This arrangement implies that buyers have not yet created enough momentum to establish a sustained uptrend, even though selling pressure has decreased since June. Growing uncertainty is also reflected in price action. Solana developed a tightening consolidation pattern with lower highs and comparatively stable support over the previous few weeks.
SOL/USDT Chart by TradingViewBulls were left without a definite technical victory as the price fell below the lower trendline rather than producing a convincing breakout. Fortunately for purchasers, there hasn't been much follow-through selling and the breakdown has stayed superficial. During consolidation, volume keeps falling, which indicates that buyers and sellers are holding off on making capital commitments until there is a stronger catalyst.
The lack of directional momentum is confirmed by the Relative Strength Index, which is firmly in neutral territory at 47. Reclaiming the 100-day EMA around $75 is the bulls' immediate challenge.
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The 200-day EMA at about $79 would come back into focus if it were to successfully move above that level. The strongest bullish signal Solana has generated in months would be the recovery of both moving averages, which could pave the way for the mid-$80 range.
Support is in the range of $71 to $72 if sellers regain control. If SOL were to lose that zone, it would probably return to its June lows and strengthen the general bearish trend that has dominated the majority of 2026. Solana is still in consolidation as of right now.
Although there hasn't been a significant breakdown, the asset doesn't have enough momentum to overcome long-term resistance. Sideways trading is likely to continue to be the predominant scenario until the price decisively breaks above the moving averages or below recent support.
Solana’s 2026 cycle has, so far, been one of its weakest on record.
From a technical perspective, SOL closed July down 1.1%, printing its 10th consecutive monthly red candle. That means since the October breakdown, SOL hasn’t managed a single strong monthly close, leaving HODLers who bought near the $250 cycle top deep underwater.
As a result, the $60 region is becoming an increasingly critical long-term support level.
On-chain, however, the price weakness still hasn’t translated into weaker fundamentals. As the chart below shows, Solana activated SIMD-0286 on the 29th of July, raising the compute limit from 60 to 100 million.
In other words, the network now has more room to handle demand spikes without affecting network activity.
Source: Pine Analytics Notably, the upgrade has also eased fee pressure. Since SIMD-0286 was activated, the 90th percentile transaction fee has fallen 30%, from 29,800 to 20,800 lamports, pointing to better throughput and improved capital efficiency across the network.
Interestingly, Token Terminal data shows Solana processed 8.7 billion transactions in July, its highest monthly transaction count in four months.
In essence, while Solana [SOL] continues to struggle on the price chart, on-chain activity is moving in the opposite direction, suggesting the network is becoming stronger.
According to AMBCrypto, this couldn’t have come at a better time.
Why Solana’s on-chain strength is hard to ignore Solana’s improving fundamentals are now starting to align with a bullish technical setup.
According to one analyst, SOL is forming the same breakout-and-retest structure that has historically preceded its strongest rallies. In 2021, the pattern was followed by a 2,500% move, while the 2023 setup led to a 3,600% rally.
The analyst argues that SOL is once again holding the same high-timeframe support, suggesting the market could be building a similar structure for the 2026-2027 cycle.
Notably, this is where the chart below becomes important. Historically, August and September have been Bitcoin’s weakest months, increasing the odds of capital rotating into high-beta altcoins.
Against this backdrop, the SOL/BTC pair continues to chop below 0.002. A decisive breakout from this range could mark the beginning of a broader trend reversal.
Source: TradingView (SOL/USDT) In that context, Solana’s on-chain fundamentals become difficult to ignore.
The SIMD-0286 upgrade has improved network efficiency, transaction activity is back at a four-month high, and SOL continues to hold a historically important technical structure. These factors suggest Solana may be quietly building the foundation for its next major move.
Combined with the ongoing SOL/BTC consolidation and Bitcoin entering its historically weaker August-September period, the setup for a potential rotation cycle is starting to take shape.
If momentum shifts back toward altcoins, SOL/BTC could become a key catalyst for Solana’s trend reversal in the coming months.
Solana (SOL) is gaining renewed momentum as market analysts point to a strong technical formation and the network rolls out a major upgrade designed to boost scalability and efficiency. The convergence of positive price signals and upgraded infrastructure could reinforce Solana’s position as one of the market’s leading blockchains and attract new participants to its ecosystem.
Analysts point to bullish technical structureAt $72.88, Solana’s price reflects relatively stable trading over the past day, backed by a 24-hour trading volume of $1.32 billion and a total market capitalization of $42.35 billion. Many technical analysts are focusing on a breakout-and-retest pattern in SOL that has historically preceded major rallies.
Crypto Patel, a well-followed cryptocurrency analyst, identified a macro structure in Solana’s price chart that he believes resembles setups seen in 2021 and 2023—both of which were followed by price surges of approximately 2,500% and 3,600% respectively. While previous moves do not guarantee a repeat, these recurring formations are drawing increased interest from traders.
A group of market analysts emphasize the $40 to $70 range as a critical accumulation zone for SOL. As long as support holds above this level, price targets of $300, $500, $700, and even $1,000 are being circulated within the trader community. However, should SOL close below $25 on lower timeframes, a bearish reversal is likely to be triggered.
LevelPotential Trend$25 (closed below)Bearish scenario$40–$70Accumulation/support zone$300, $500, $700, $1,000Upside targets Crypto Patel notes that historical macro breakout patterns in Solana have preceded significant rallies, with previous instances in 2021 and 2023 leading to multi-thousand percent gains.
Major mainnet upgrade enhances network scalabilityThe Solana Foundation has announced the successful deployment of 100 million compute unit (CU) blocks on its mainnet, increasing the network’s maximum capacity from 60 million to 100 million compute units per block. This technical upgrade, implemented through the SIMD-0286 proposal, improves the blockchain’s throughput by 66%.
Developers and decentralized applications (DApps) operating within the Solana ecosystem are expected to benefit from this greater computational capacity and improved efficiency. The foundation stated that these changes are designed to support higher network demand and optimize resource allocation for developers.
By enhancing performance and scaling capacity, the upgrade is intended to position Solana for broader adoption and further development of its ecosystem.
Mini dictionary: SIMD-0286, also known as “Solana Improvement Document 0286,” is a technical proposal that increases the block size of Solana by raising the allowed compute units per block, thereby enhancing overall network throughput and efficiency.
The Solana Foundation highlights that the 100 million compute unit upgrade raises mainnet block limits by 66%, promising faster and more scalable operations on the blockchain.
Outlook and market sentimentThe path ahead for SOL will depend on price movement at key support levels and whether the current bullish technical setup is confirmed by further market activity. Improved network performance could fuel growing participation in the Solana ecosystem, potentially reviving demand for SOL among traders and developers.
However, Solana’s future remains influenced by overall crypto market volatility and investor sentiment. Analysts caution that while substantial upside may be possible, there are risks if critical support is lost. Market observers continue to monitor SOL for confirmation of a decisive move in either direction.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
BIRMINGHAM, ENGLAND - DECEMBER 13: A jewellery quarter gold dealer poses with three 1kg gold bullion bars on December 13, 2023 in Birmingham, England. Gold prices have increased since the Ukraine War but have soared to record highs since the start of the Hamas-Israel war. Other factors are the weakening US dollar and expected rate cuts from the Federal Reserve. (Photo by Christopher Furlong/Getty Images)
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"In crypto, through digital assets notoriously, that volatility has always killed people," said Andrey Didovskiy, chief executive of Seasons, a Solana protocol that has been depositing gold and bitcoin into strangers' wallets twice a week since December.
"As that entropy rises more and more and we get more and more chaotic with AI and fragmentation keeps happening, humanity keeps searching for stability," he said in an interview. "That's a tale as old as time."
The mechanism is a threshold. "It turns any kind of wallet address over 10,000 tokens into a node on the network, and that node effectively operates as a infinite DCA," Didovskiy said, using the shorthand for dollar-cost averaging. Ten thousand SEAS runs to roughly $2,500 at recent prices. Every Wednesday and Sunday the wallet receives a payment in Tether Gold, wrapped bitcoin and a yield-bearing dollar token.
"You can also think of it as a miner," he said, "because what happens is twice a week are the people receive Bitcoin gold and yield-bearing USDC."
There is no staking contract and nothing to claim. "We don't force users to do any kind of freezing," Didovskiy said, or locking, or staking. Holders leave the tokens sitting in their own wallets and "become savings accounts."
Where the money comes fromSeasons runs on three engines, and the one that matters is a levy the protocol calls the Transactional Transfer Tax. Didovskiy is unusually direct about it. "All trading activity absorbs a 10% fee that is then directly redistributed," he said, among the nodes.
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So a tenth of every purchase goes to the people who already hold the token, and a tenth of every sale does too. The gold that lands in a node's wallet on Sunday was somebody else's trade a few days earlier.
He does not present this as an invention. He traces it to the token designs of the last cycle, the ones built so that trading volume in a token would grow the token's own market value. "Usually they were built with inflationary models," he said. "So we took that as a foundation."
The other two engines are smaller. A module called SSYM parks distributions in yield-bearing stablecoins while they are queued for payout. A set of vaults deploys reserves into lending and liquidity strategies, with the next one planned on Kamino, Solana's largest lending market. "Since you have this kind of store of value, if you will, anyway, why not put it to some kind of work?" Didovskiy said. He allows that this introduces "new risks, new stuff."
The numbers behind the yieldSeasons publishes its own figures weekly and they are modest. For the week ending July 24 the protocol reported $242,624 distributed since launch, $7,343 of it that week, across 339 node owners. It claimed an average annual percentage yield of about 12.56%, and put cumulative payouts at 8.28 ounces of gold and just over half a wrapped bitcoin.
Now the token. SEAS traded around $0.25 on Thursday with a fully diluted valuation near $250 million, on 24-hour trading volume of roughly $6,500, according to CoinGecko. It launched on December 9, 2025. Its circulating supply is not reported, so CoinGecko lists no market capitalization at all.
At $6,500 of daily volume, a 10% tax throws off something like $650 a day. That is roughly the size of the distributions going out.
The entry cost runs the other way. A 10% toll going in and another coming out is close to a fifth of the position, so at the advertised yield a node needs about a year and a half of twice-weekly payments to break even on tax alone, before the token price does anything. Spread across 339 nodes, the $242,624 paid since December works out at roughly $715 each.
Solscan counts about 7,000 SEAS holders. Only 339 clear the 10,000-token threshold. The rest hold the token, pay the tax when they trade and receive nothing.
Crypto has run this experiment beforeTokens that tax their own trades and hand the proceeds to holders were a defining product of 2021. SafeMoon, the most famous, launched in March 2021 with a 10% transaction tax split evenly between holder redistributions and the liquidity pool. In May 2025 a jury convicted its chief executive, Braden John Karony, of conspiracy to commit securities fraud, wire fraud and money laundering. He was sentenced to 100 months in federal prison and ordered to forfeit about $7.5 million in crypto assets, along with two residential properties.
That case turned on the misappropriation of liquidity advertised as locked, not on the tax mechanism. Prosecutors said the executives kept access to the pools and drained them. Nothing of the kind has been alleged here.
Seasons has closed off some of the obvious failure modes. The token runs on Solana's Token-2022 standard, which supports transfer fees natively rather than through the bespoke contract logic that made the 2021 generation so fragile. RugCheck records show mint authority was revoked about seven months ago and freeze authority about eight, so no new supply can be conjured and no wallet frozen. Roughly 22% of liquidity is locked. And the payouts arrive in gold, bitcoin and dollars rather than in more of the protocol's own token, which is what turned most reflection tokens into circular machines.
RugCheck still scores the token DANGER, on two counts: a low holder count, and the fee configuration itself. On Solana the authority that sets a transfer fee can generally change it later, subject to a delay of about four days.
What sustainable yield usually requires"Crazy interest rate cannot sustain for like forever," Jonathan Han, chief executive of Euler Labs, said on the On The Margin podcast. "I think everybody has learned that from the last couple of years."
Han was talking about the hangover from DeFi Summer, when protocols advertised triple-digit returns funded by their own token emissions. He also described who is showing up now. "A lot of retail, average day people are coming on chain to find alternative yield sources and opportunities," he said. Much of DeFi's yield layer has been rebuilt since, with far less enthusiasm for headline numbers.
Seasons is not paying in its own token, which is the point Didovskiy keeps returning to. The money is still internal, though. Streamex also pays yield on tokenized gold, and its chief executive Henry McPhie has spelled out where his comes from. "Instead of just taking that gold and sitting at a bank vault, we make that gold active," McPhie said on the On The Margin podcast.
"What we do is we lease the gold to people who use it as working capital," he said, naming jewelers and refiners as the borrowers. They pay to borrow bullion and repay in bullion, and that payment becomes the yield. It arrives from outside the token. Seasons' arrives from its own order book.
That is the distinction a prospective node has to price, and it runs through the fight over what retail DeFi is even for and through the duller effort to use crypto as a savings instrument rather than a speculation.
On the assets themselves, Didovskiy is betting on the oldest argument in finance. "If we look at history, gold and bitcoin, of course, is gonna keep rate increasing over time," he said. "It's to give them a sense of calm."
David McAlvany, who runs the gold platform Vaulted, said on the On The Margin podcast that the test is longevity. "Is it something that will be here five thousand years from now? Gold, I'm pretty sure will be. Bitcoin may or may not be."
The season that failedSeasons packages its history into numbered seasons, and season one paid its yield in memecoins. It was abandoned after holders made clear that people who want yield do not want meme yield. The current basket, weighted toward tokenized gold, wrapped bitcoin and lending-market dollars, is the correction.
Didovskiy offered his own diagnosis of the industry before he was asked about his product at all. "Especially in the crypto blockchain web three space, people are typically inverted where they're building solutions looking for a problem," he said, rather than solutions to a problem that already exists.
The problem he picked is real enough. Crypto has never given an ordinary saver a place to sit still, which is why the search for something that behaves like a retirement account keeps producing new attempts. Seasons has built an automatic one. Whether it functions as a savings account depends on traffic, and at $6,500 a day there is not much of it.
Han, describing what keeps newcomers out of DeFi lending, named the thing that has not gone away. "They don't want to expose to a lot of smart contracts or market volatility and unknown risk," he said.
Since the 9th of July, Solana [SOL] bulls tried repeatedly to drive a price move beyond the $80 round-number supply zone. They met with little success.
Steady network usage and growing stablecoin liquidity pointed to a resilient ecosystem, but not necessarily a price recovery.
The constructive signal from on-chain metrics was met by bearish price action since April 2025. Even the rally towards the end of the year that reached $253 was only a retracement phase, well before Bitcoin [BTC] entered its bear market.
Here’s a thorough breakdown of the long-term trends and what traders and investors can expect from SOL in August.
Bitcoin ATHs came when Solana was already in a bearish trend Source: SOL/USDT on TradingView Solana was trending higher in 2024. The move beyond the $210 swing high (green) in November 2024 signaled a bullish continuation. It originated from the $110 (white) swing low.
When this swing low was breached in March 2025, it signaled a swing structure break on the weekly timeframe. Within this bearish trend, a rally to the 78.6% Fibonacci retracement level at $252.9 came later in 2025, when Bitcoin was making new all-time highs.
Seen through these lenses, the drawdown since September made perfect sense. The Fibonacci extension level at $47.9 also forecasted a potential bear market price target for SOL.
The August expectations for Solana Source: SOL/USDT on TradingView The 1-day timeframe was also bearish. The RSI was below neutral 50, and the MACD has made a bearish crossover below the zero line. The momentum indicators agreed upon further downside potential.
So did the price action. After facing rejection from the 61.8% retracement level at $83.8, SOL has suffered steady losses throughout July.
Over the past week, the price tested the $73.4 local support zone before falling below it on Friday, the 31st of July. This meant that the short-term expectations are also bearish.
The next price targets in August are $64.1 and $60.1. Popular crypto analyst Ali Martinez also came to the same conclusion after the altcoin lost a channel support.
If a heavy Bitcoin sell-off occurs, it is likely that Solana prices would drop towards or lower than $50.
Final Summary The constructive signal from on-chain metrics has been facing the reality of bearish price action recently. In the coming weeks, a price drop toward $60 can be expected.
TLDR: DEX spot volume reached 24% of CEX trading in July 2026, marking its highest recorded share since 2019. The ratio rose even as monthly DEX turnover fell 26%, showing relative gains during weaker market activity. Solana led 30-day DEX trading with $49.86 billion, surpassing BNB Chain, Ethereum, and Base combined. DEXs dominate new-token access, while CEX platforms retain deeper liquidity, fiat services, and support. Decentralized exchanges captured a record share of centralized trading in July 2026, marking their strongest performance since tracking began in 2019. Wu Blockchain reported that DEX spot volume reached 24% of CEX activity, using The Block data citing DefiLlama.
DEX Spot Volume Reaches Record 24% of CEX Volume, Highest Since Tracking Began in 2019
According to The Block, citing DefiLlama data, DEX spot trading volume rose to about 24% of CEX volume in July 2026, the highest level since the series began in 2019. The ratio stayed below… pic.twitter.com/H6F06lHP8g
— Wu Blockchain (@WuBlockchain) August 2, 2026
The milestone extended a shift toward on-chain trading, although it did not indicate record volume across decentralized platforms. Instead, the ratio showed decentralized venues gaining ground while activity across both market segments weakened during July.
Record DEX Share Climbs Despite Lower Monthly Trading Volume The Block calculates the ratio by dividing decentralized exchange activity by volume from centralized platforms with reporting. Its sample covers the 30 largest exchanges ranked by DefiLlama volume, so the figure reflects a dataset.
According to the report, the ratio stayed below 10% during 2024, then accelerated during 2025 as on-chain markets expanded across networks. During 2026, it generally ranged between 18% and 21% before reaching July’s 24% peak.
However, July’s record ratio did not mean decentralized platforms handled their highest monthly dollar total. Blockworks data estimated spot trading near $130.77 billion, down 26% from June.
That estimate represented the lowest monthly total since September 2024. Therefore, the share rose as centralized activity weakened faster, decentralized turnover declined less sharply, or both occurred together.
A DefiLlama dashboard placed CEX spot volume at $951.8 billion in April, its lowest level in 25 months. Centralized activity later recovered to about $1.11 trillion in June. Even so, July’s ratio showed decentralized platforms retaining stronger momentum within the measured market.
Lower-Cost Networks and Token Access Drive DEX Expansion Trading has spread beyond Ethereum as lower-cost blockchains attracted users seeking faster settlement and cheaper transactions. DefiLlama’s latest 30-day data placed Solana first with $49.86 billion.
BNB Chain followed with $31.04 billion, while Ethereum recorded $28.84 billion. Base added $22.38 billion, reinforcing the multichain structure of decentralized trading.
Token availability also widened the gap between decentralized and centralized listings. CoinGecko found Uniswap supported 13.69 million token listings between January 2025 and January 2026.
Moreover, Pump.fun supported 5.01 million during the same period. By comparison, MEXC and Gate each added roughly 1,300 assets, despite leading centralized listing activity.
This difference made decentralized platforms the primary marketplaces for newly created tokens before centralized exchanges completed reviews. Memecoin trading accelerated that shift beginning in 2024.
CoinGecko estimated that decentralized spot-market share rose from 6.9% in January 2024 to 13.6% in January 2026. Over the same period, monthly trading volume increased from $95.86 billion to $231.29 billion.
Despite those gains, CEX platforms still dominate overall liquidity. They offer fiat services, customer support, familiar accounts, and deeper markets for major cryptocurrency pairs.
At the same time, DEX users carry greater responsibility for wallet security, contract verification, transaction fees, liquidity, and slippage. They also face risks from smart-contract flaws, fraudulent tokens, front-running, oracle manipulation, and exploits.
Therefore, July’s 24% reading reflected stronger competition rather than the displacement of centralized exchanges. Decentralized platforms gained market share through wider asset access and cheaper networks, while CEXs remained the industry’s largest liquidity hubs.
