Solana (SOL) is currently trading around $117.38, following a strong rebound from its previous lows. After climbing to a session high of $119.90, SOL approached a significant resistance zone between $118 and $120. This marks the first time in eight months that the token has tested the $120 area.
Technical Signals Hint at Potential UpsideAnalyst Ash Crypto has highlighted that SOL recently moved above its 200-week moving average, a development he regards as an encouraging technical signal. Ash Crypto also pointed to the formation of a weekly golden cross, which could indicate a shift in the long-term trend if confirmed. The analyst emphasized that although the golden cross has not been officially confirmed, reclaiming these levels remains significant for SOL.
Another market watcher, GordonGekko, noted that maintaining support above $118 could set the stage for a rally targeting $148. His technical analysis showed SOL bouncing from a previous base near $96, with momentum accelerating as the price approached current resistance. If the price fails to hold above $118, attention shifts to the $110-$112 range, with the 20-day exponential moving average near $105.59 acting as additional support, according to TradingView data.
Analyst JAVON MARKS suggested that SOL has broken out of a long-term Cup and Handle pattern, projecting that the full measured move of this breakout could point to a level above $500, though this is interpreted as a technical possibility rather than a concrete forecast.
Analyst Sweep made comparisons to earlier phases in SOL’s price action, referencing a similar accumulation period between $95 and $100 before a major rally. His projections based on fractal patterns suggest a potential path toward $400 to $500 over a longer timeframe.
Derivatives and On-Chain Activity Gain MomentumOn the derivatives front, data released by Santiment Intelligence reveals that SOL open interest has increased to approximately $2.97 billion. For comparison, Bitcoin open interest stands near $25.84 billion, while Ethereum’s open interest is at $16.97 billion. Rising open interest reflects expanding leverage and growing activity among traders as prices rebound market-wide.
Network activity has also accelerated. According to SolanaFloor, Solana has captured a 35% share of tokenized equity trading volume, its highest in the past two months. This brings Solana close to Robinhood’s market share of 39%, after lagging behind in July.
Meanwhile, Solana’s official account reported that the network processed 76% of all x402 payments, amounting to 23.2 million transactions in just four weeks. The second-largest network handled 3.39 million x402 transactions during the same period, highlighting Solana’s expanding use within its ecosystem.
Alongside these technical and on-chain developments, notable trends continue to emerge in the meme token market. Rapid internet-driven phenomena can attract millions of dollars within days. Data from Fomo App captured an instance where an investor turned an initial $99 investment in the meme token “Niu Lai” into roughly $370,000, illustrating how timing and token selection play a decisive role. Platforms like Fomo App bring together token discovery and trading with features such as social feeds, investor rankings, and real-time trade notifications, catering to those tracking both price movements and broader investor activity in meme tokens.
SOL’s price was last recorded just below $118, remaining close to the level that analysts consider pivotal for future price direction.
Market observers underlined that derivatives activity, network participation, and technical breakdowns are converging at a critical level for SOL, with $118 emerging as a focal point for both upward and corrective moves.
DEX trading activity is becoming a key signal for Solana’s [SOL] Q4 cycle.
According to DeFiLlama data, cumulative DEX volume has already crossed $600 billion in Q3, surpassing Q2’s $572 billion. The jump suggests that on-chain activity is picking up again, raising the question of whether DEX volume can reclaim the $1 trillion mark that was last seen in Q4 2025. For the year to date, the total DEX volume has remained below that level.
Notably, Solana could be an important driver behind a potential pickup in DEX activity. As the chart below shows, the weekly spot DEX trades on Solana have now surpassed the NYSE for the first time. To put this into context, for the week ending the 13th of September, Solana recorded around 208 million spot DEX trades, compared with roughly 190 million on the NYSE.
Source: Kobeissi Letter Why does this matter? Well, the fact that Solana’s DEX traffic is diverging so sharply from the NYSE is perhaps reflective of a more fundamental change in where liquidity is flowing. As more transactions are “on-chain”, demand for more “on-chain” market infrastructure is beginning to emerge.
The rise of tokenized equities on Solana only stands to bolster this thesis. According to Blockworks data, the number of tokenized equity holders on Solana has hit a record 973k in September, up almost 60% since August. In essence, Solana is seeing “liquidity” growth outside crypto. More users are gaining exposure to traditional assets through DEXs, creating an additional source of liquidity for the network.
If this trend persists, rising DEX volume could, therefore, become a major tailwind for SOL heading into Q4.
Solana’s DEX boom puts on-chain activity in focus for Q4 The market has already dubbed Solana’s DEX boom as a mere appetizer.
According to DeFiLlama data, the combined volume of all decentralized exchanges (DEX) on the blockchain has crossed $170 billion in Q3 so far. While weekly trading activity on the network has already surpassed the NYSE, its overall DEX volume is still below Q2’s $180 billion and well behind the Q1’s whopping $325 billion.
So there is much room for growth ahead. Notably, this is where stablecoin data comes into play. The supply of stablecoins on Solana hit a record $16.5 billion on the 22nd of September. It has also jumped more than 6% over the past week, adding nearly $1 billion in new liquidity for the network.
In layman’s terms, increasing stablecoin liquidity translates to more capital to flow through Solana’s DeFi ecosystem. And if the trend persists, it could catalyze a rise in DEX activity on the blockchain.
Source: DeFiLlama According to AMBCrypto, Solana’s weekly DEX activity outperforming the NYSE could, therefore, be more than just a one-off milestone. Instead, it could signal a broader shift in on-chain trading activity.
With growing stablecoin liquidity, tokenized equity adoption, and DEX activity reaching new highs, Solana’s on-chain ecosystem is showing increased demand. Taken together, these factors point to DEX volume being a key metric to watch for SOL as Q4 approaches.
Final Summary Solana’s DEX activity is rising, with more liquidity and tokenized assets moving on-chain. Rising DEX volume could support SOL’s Q4 momentum.
Debates on whether Solana could overtake Ethereum have resurfaced, following a bold forecast from Kyle Samani, co-founder of Multicoin Capital. Samani argued that Solana is poised to surpass Ethereum during this market cycle, driven by its performance and growing adoption among developers and users across the crypto sector.
Solana vs Ethereum: Competing PhilosophiesSpeaking on the comparative strengths of the two blockchains, Samani emphasized that more projects are now choosing Solana for its high-throughput architecture and low-latency transaction speeds. He suggested that these features are particularly attractive to developers focused on retail trading, decentralized finance (DeFi), memecoins, and consumer-facing mobile applications.
In a discussion shared by Ethereum Daily on social media, Samani maintained that Solana has the upper hand in terms of speed, transaction activity, and mass adoption. However, Ethereum Daily countered that Ethereum’s deeper liquidity, established role in stablecoin issuance, and proven settlement infrastructure create durable advantages that Solana cannot easily overcome.
Solana’s architecture emphasizes integrated, fast execution, benefiting retail activity and emerging use cases, while Ethereum’s modular roadmap focuses on decentralization, institutional custody, and reliable settlement—an edge in the eyes of major funds and regulatory bodies.
On-chain Metrics and Fee GenerationData from DeFiLlama indicates that over the past 30 days, Solana generated approximately $23 million in transaction fees, outpacing Ethereum’s layer-1, which saw around $12.6 million in the same period. This difference reflects Solana’s role as a hub for high-frequency trading and retail user activity. Solana’s sub-second transaction finality and low costs have allowed developers to move products to market quickly and access native composability for building integrated applications.
Despite strong engagement metrics, market capitalization remains a substantial hurdle for Solana. Ethereum’s market value is close to $293 billion, while Solana stands at around $58 billion. To overtake Ethereum, Solana would require a relative fivefold increase, which remains a distant prospect given Ethereum’s $54 billion in DeFi total value locked (TVL) and its $146 billion stablecoin ecosystem.
Beyond rapid transaction speeds and high user engagement, Ethereum maintains a dominant position as the foundation for stablecoin issuance, deep DeFi liquidity, and institutional adoption, creating a structural moat that is not easily disrupted.
Institutional Appeal and Market EvolutionEthereum remains the primary network for major stablecoins such as USDT and USDC, and its infrastructure is favored for regulated custody, staking, and ETF offerings. Its layered structure, combining a secure main chain with execution-focused L2s like Arbitrum and Optimism, appeals to institutions seeking auditability and compliance.
Industry observers note that future market leadership will largely depend on institutional investment flows, regulatory clarity around stablecoins, and the expansion of tokenized assets. Milestones expected to shape this landscape include Ethereum’s transition to advanced rollup and cross-L2 interoperability, as well as Solana’s development of the Firedancer validator client focused on enhanced performance and resilience.
Ultimately, the conversation has shifted from a zero-sum competition to one of market segmentation, where Solana could emerge as the preferred platform for execution and mass distribution, while Ethereum reinforces its position as the cornerstone of the crypto financial system.
Meme Tokens and Retail MomentumAs retail trading accelerates on fast blockchains, the meme token segment exemplifies how trends can transform into significant financial movement in just days. Fomo App has reported that a notable trade involving “Niu Lai” turned an initial $99 into roughly $370,000, demonstrating the scale of opportunity in this market. Timely tracking of investor activity, token choices, and market sentiment, combined with platforms like Fomo App—featuring real-time discovery, trading, social feeds, and investor rankings—remains vital for those seeking to navigate the fast-moving world of meme tokens and retail momentum.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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11 U.S. Democratic senators urge Senate Banking Committee to hold a hearing on prediction markets
11 Democratic senators on the U.S. Senate Banking Committee are urging committee chair Tim Scott to hold a hearing on prediction markets, following the panel’s plan to host a Republican-only roundtable on the topic next week. The roundtable will focus on securities-based prediction markets, with a representative from Kalshi expected to attend. Currently, primary regulatory authority over prediction markets falls to the Senate Agriculture Committee and the Commodity Futures Trading Commission (CFTC); the Banking Committee’s planned discussion is seen as a further move by the panel to engage with the prediction market issue.
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Bitcoin breaks through $80,000, backed by institutional funds; analysts hold divergent views on the sustainability of this rally.
Bitcoin recently broke through $80,000 and hit a high of $87,300. Analysts note the current rally is backed by strong inflows from institutional capital and spot Bitcoin ETFs, but metrics including trading volume, market breadth, and derivatives positions have sparked debate over whether the uptrend can sustain. K33 points out that Bitcoin’s recent pullback in both magnitude and duration is significantly smaller than those during major bear markets in 2013, 2017, and 2021, suggesting the current cycle’s low may have already been established. The firm also adds that Bitcoin still has catch-up potential relative to gold and U.S. equities. 21Shares attributes the crypto market’s regulatory tailwinds to the U.S. SEC’s “innovation exemption” and the Commodity Futures Trading Commission (CFTC) advancing relevant rulemaking. K33 further notes that fading uncertainties—such as the Federal Reserve’s interest rate decisions and the vote on the CLARITY Act—also helped drive the market’s breakout. However, Nexo takes a cautious stance, highlighting that recent declines in trading volume, narrowing rally breadth, and rising derivatives leverage could expose Bitcoin to risks of profit-taking or a temporary correction. Capital.com’s analysts identify the $87,000–$88,000 range as the near-term resistance zone; a breakout would target $90,000 next, while key support levels to watch are $84,000–$85,000 and $80,000. Fundstrat founder Tom Lee claims the crypto bull market has already begun, citing drivers including the reflow of AI capital back into crypto markets, improved crypto fundamentals such as tokenization and AI integration, and the end of Bitcoin’s four-year cycle.
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US SEC Commissioner Uyeda: Dropping some crypto lawsuits to avoid harming the regulator’s credibility
US SEC Commissioner Mark Uyeda stated that the agency has dropped several cryptocurrency cases inherited from the previous administration. The reason is that continuing to defend legal interpretations set to be overturned in court could harm the SEC’s credibility. Uyeda noted that as the SEC prepares to make a "180-degree shift" in its relevant legal interpretations, he does not want the agency’s litigation attorneys to keep defending its prior stance in court. He added that sticking to positions ultimately set to be overturned would "damage the SEC’s reputation". Furthermore, Uyeda referred to the SEC’s "innovation exemption" for tokenized securities as a "pilot program", arguing that this mechanism could create "significant potential opportunities" for new market entrants and traditional financial institutions.
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Visa Survey: Americans’ Willingness to Use Stablecoins Rises to 56% With Bank-Level Guarantees
Visa’s “Money Travels 2026” report reveals that if stablecoins offer bank-equivalent fraud protection and deposit insurance, U.S. consumers’ willingness to use stablecoins for cross-border transfers will climb from 36% to 56%. The survey identifies stablecoin awareness as a major barrier: 56% of U.S. respondents said they have never heard of stablecoins. When stablecoins are offered by existing financial service providers, that willingness rises to 45%; 61% of respondents said they would trust traditional banks to provide digital currency services, while 60% would trust global payment networks. Visa notes that stablecoins currently do not carry FDIC deposit insurance, adding that the data is based solely on hypothetical scenarios and does not mean such protections are imminent. Conducted by Morning Consult between February 24 and March 2, the survey covered 45,445 people across 20 markets, including 2,192 U.S. adults. In Latin America, willingness to use stablecoins for cross-border transfers jumps from 34% to 74% when the relevant protections are in place.
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Crypto exchange Coinbase has been stripped of its membership by UK Finance, the UK's financial industry lobbying group.
Sources familiar with the matter have revealed that the board of UK Finance recently sent a letter to Coinbase, stating that after reviewing its membership framework, the crypto exchange failed to meet the organization’s membership standards, leading to the decision to terminate Coinbase’s membership. Coinbase still retains the right to appeal this ruling. UK Finance represents around 300 financial institutions, including major UK and international banks, market infrastructure firms, and payment providers. Both Coinbase and UK Finance declined to comment. In recent years, the crypto industry’s influence in policy discussions has continued to rise, though it has faced disagreements with traditional financial institutions over issues such as stablecoin yields and banking services. The revocation of Coinbase’s membership comes at a time when discussions between the UK crypto sector and traditional financial institutions on topics like banking service access are heating up.
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WSJ: Two senior executives from Anthropic invest in a biosecurity startup backed by Peter Thiel
Beating AI News Brief: According to a WSJ report, two senior executives from Anthropic have invested in a Peter Thiel-backed startup developing hardware capable of detecting airborne viruses. The report notes that the project focuses on biosecurity, aiming to address potential biosecurity risks stemming from the rapid advancement of AI technology. The hardware can detect airborne viruses to help identify potential biological threats at an earlier stage. This investment also reflects that the AI industry’s attention to AI-related biosecurity risks is expanding from model security to real-world protective infrastructure.
Metaplex, the protocol famously known for building the token standard for Solana NFTs, has launched Vantage, a fully modular trading terminal designed to give Solana traders greater control over how they research, track, and trade onchain assets. Metaplex already offers tools to “launch onchain assets”, and Vantage now provides a user-defined interface for trading. The terminal is designed to break out of a one-size-fits-all layout: traders can add, remove, resize, and arrange widgets and modules to suit their workflow. In effect, Metaplex is turning the trading dashboard into a toolbox.
According to the company, Vantage replaces fixed layouts with customizable building blocks for charts, order entry, market data, and portfolio tracking. Users can save multiple dashboards for different strategies. For example, separate views for day trading versus long-term positions. The goal is a “terminal that adapts to the trader instead of making the trader adapt to the terminal.” This shift in interface design aims to give Solana traders complete control over how they see markets.
“Trading is personal. Different traders look at different signals, follow different markets and build completely different workflows.” - Stephen Hess, founder of Metaplex
Metaplex teased the product on Monday with a short post reading, “Information moves markets. Wednesday.” Vantage currently launches in beta, with Metaplex planning to expand access and add functionality based on user feedback.
From Token Infrastructure to Consumer Trading The launch represents another step in Metaplex's expansion beyond its traditional infrastructure business. Metaplex currently generates revenue by charging protocol fees across its onchain programs, including Genesis, Core, Bubblegum, Token Metadata, MPL-Hybrid, and Fusion.
The protocol directs 50% of those fees toward $MPLX for the DAO treasury, while the remaining 50% supports Foundation operations.
Metaplex has averaged more than $40,000 in weekly revenue over the past several weeks, including $41,432 last week.
The DAO's $MPLX buyback program has now repurchased more than 36.5% of the token’s circulating supply over time.
Vantage could give Metaplex another revenue-generating consumer product while potentially strengthening that buyback mechanism.
Genesis Set the Stage Vantage follows Metaplex's July 2025 expansion into token launches through Genesis. Genesis provides established teams with infrastructure for conducting Onchain Token Offerings, or OTOs, rather than functioning like permissionless memecoin launchpads such as pump.fun and letsBONK.
Its framework supports 3 primary launch mechanisms: Launch Pools, Auctions, and Presales. It also provides infrastructure for token claims, airdrops, tokenomics, and vesting schedules.
That expansion positioned Metaplex closer to the capital formation process. Vantage now moves the company further down the stack, from helping teams create assets to helping users discover and trade them.
A Broader Infrastructure Shift Metaplex is not alone in moving from back-end infrastructure toward user-facing trading apps. For Metaplex, Vantage connects several parts of its existing ecosystem. Genesis can help teams launch assets, while Vantage can provide a destination for traders to discover, research, and trade them.
The strategy could ultimately bring asset creation, discovery, and trading closer together within Metaplex's broader ecosystem.
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MoonPay is buying North Capital, a Utah broker that has quietly handled private stock deals since 1999. The prize is not the technology. It is the US securities licenses MoonPay has been borrowing from partners.
Terms were not disclosed. The agreement, announced Wednesday, still needs regulatory sign-off before it closes.
MoonPay’s Push to TokenizationOnly last week, MoonPay opened a route for its 35 million users into a tokenized Treasury fund from WisdomTree. The fine print showed the problem. WisdomTree Securities handled the brokerage because MoonPay had no US broker-dealer of its own.
North Capital fills that hole several times over. It owns two SEC-registered broker-dealers, a registered transfer agent, an investment adviser, and PPEX, an alternative trading system for private securities with more than 1,250 approved assets. Its platform has moved $8.7 billion across primary raises and secondary trades.
This is plumbing, not product. Escrow, investor verification, shareholder records, and clearing are the unglamorous pieces any firm needs before it can legally sell a tokenized share to an American. Buying them beats applying for each one.
“All financial markets are becoming more technology-driven, but the infrastructure supporting them is still fragmented across different tech stacks, providers, and workflows,” Ivan Soto-Wright, CEO of MoonPay, said in the release
What the Deal Means for UsersThe purchase fits a pattern. MoonPay reportedly paid $100 million in stock for Solana router DFlow in May, its sixth deal since early 2025. Soto-Wright frames the company around funding, tokenizing, trading, and spending. North Capital is the tokenize-and-trade layer for regulated securities.
For users, the distinction matters. Most tokenized stocks on crypto apps today are synthetic trackers, and the SEC’s proposed exemption would let them trade without voting rights or dividends. A transfer agent lets MoonPay offer the real thing, a security whose holder sits on the issuer’s books.
That gap is widest in private markets, where pre-IPO token products sold to retail usually confer no stake at all. North Capital’s rails support Reg CF and Reg A+ offerings, the exemptions that let non-accredited investors buy private shares, though accredited-only Reg D deals will stay gated.
The open question is demand. Private securities trade thinly, and 35 million crypto buyers do not automatically become private-market investors. Whether MoonPay can turn a compliance stack into volume will show up in PPEX data, not press releases.
Canada now has its own stablecoin, and it just landed on Solana. Tetra Digital Group, operating through subsidiaries Tetra Trust Company and CAD Digital Inc., has expanded support for its Canadian-dollar stablecoin CADD to the Solana network after initially launching on Base, Ethereum, and Tempo on May 4, 2026.
CADD is pegged 1:1 to Canadian dollars held in segregated trust reserves, independently audited, and approved by the Alberta Treasury Board and Finance.
Who’s backing CADD and why it matters The list of backers reads like a who’s who of Canadian fintech and traditional finance. Urbana Corporation, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank of Canada, and Shopify all form the consortium supporting the initiative.
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Tetra raised $10 million in September 2025 to build this out.
The project cleared a key technical milestone back in December 2025, when the first transfer of a Canadian-dollar stablecoin occurred on a testnet between regulated institutions.
Anchorage Digital has also stepped in to provide custody solutions for institutional clients, a partnership announced in late May 2026.
The case for a non-USD stablecoin The target use cases are distinctly institutional: 24/7 cross-border settlements, real-time treasury transfers, programmable payments, and fintech-to-fintech settlements. These are the kinds of transactions that currently get bottlenecked by correspondent banking hours and legacy payment rails that shut down on weekends and holidays.
CEO Didier Lavallée has framed CADD as a tool to modernize Canadian payment infrastructure. When nearly all on-chain settlement runs through USD-pegged tokens, even domestic Canadian transactions end up economically tethered to the US dollar. CADD offers a way to keep Canadian financial activity denominated in Canadian currency, even in a blockchain-native environment.
Tetra Trust Company holds the distinction of being Canada’s first regulated digital asset custodian, which gives CADD a regulatory pedigree that most stablecoin projects lack at launch. The Alberta Treasury Board and Finance approval means a Canadian provincial regulator has explicitly signed off on the product.
Why Solana, and what comes next The expansion to Solana is a pragmatic move. Solana’s transaction throughput and low fees make it particularly well-suited for payments use cases, which is exactly what CADD is targeting. By launching across four blockchains, CADD positions itself to meet institutional users wherever they already operate.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Canada Gets Its First Regulated Stablecoin on Solana@TetraDigitalGrp has officially launched $CADD, the first Canadian-dollar stablecoin issued by a regulated financial institution, now live on the @solana blockchain. The token is backed 1:1 by Canadian dollars and has received regulatory approval from the Alberta Treasury Board and Finance, giving it a compliance pedigree that most stablecoin projects lack at launch.
$CADD is designed to close that gap.
Why Solana, and What CADD Enables
Sources:
Business Wire: Tetra Digital Group Launches CADD, Canada's First CAD-Backed Stablecoin
Crypto Briefing: Tetra Digital Group launches CADD, adds Solana support
PYMNTS: Tetra Launches Canadian-Dollar Stablecoin to Power Cross-Border Payments
Solana has continued to gain momentum across the real-world asset ecosystem even as it continues to see strong participation among users and DeFi platforms.
Following its continued growth in tokenized assets, the latest onchain data shows that the blockchain's RWA ecosystem has reached a new all-time high.
Solana records 11.47% surge in tokenized assetsAccording to the data, the value of distributed assets on the Solana network has reached a massive $4.49 billion as of September 23.
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While this has driven the total RWA value, which also includes the represented value, to a massive $4.6 billion, it represents an increase of 11.47% over the past 30 days.
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In addition to the surge in total RWA value, Solana has also recorded strong growth in RWA participation, with the number of RWA holders rising to 685,850, nearly doubling the level recorded over the past 30 days.
This suggests that most of the adoption might have happened in September, signaling a rapid surge in activity around tokenized assets and stablecoins on Solana as more users and capital move through the network.
Circle takes dominance Amid the rapid expansion of tokenization across the broad crypto market, reputable firms appear to be utilizing Solana's infrastructure for its speed and efficiency.
Notably, Circle has emerged as the largest platform by RWA value on the Solana network, accounting for the largest share of value at $7.5 billion.
The leading stablecoin issuer, Tether Holdings, followed next, registering a total RWA value of $3.8 billion, and BitGo at $1.6 billion.
Metaplex, the Solana-based protocol that quietly became the backbone for nearly a billion digital assets, is making a play for your trading screen. The project launched Vantage, a customizable trading terminal designed to let Solana traders research, track, and trade on-chain assets from a single interface.
From NFT minter to trading terminal Founded in 2021 as an NFT-focused protocol on Solana, Metaplex has steadily broadened its scope to encompass a wider range of digital asset creation and management tools.
The numbers back up that evolution. Metaplex protocols have powered more than 1 billion transactions on Solana, with cumulative trading volume landing somewhere between $13 billion and $14 billion. Over 900 million digital assets have been created through the platform, generating tens of millions in protocol fees along the way.
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The Genesis protocol, which launched in 2025, introduced on-chain token offerings with launch pools designed for fair price discovery, plus automated liquidity transitions to decentralized exchange partners like Raydium.
Then came the Metaplex App earlier this year, bundling asset discovery, trading, and self-service token launches into a single application. Vantage appears to be the next layer in that stack, targeting users who need more granular control over their trading workflows.
What Vantage actually does Vantage is positioned as a terminal for active and professional traders. The emphasis on customization suggests users will be able to configure their workspace, likely arranging charts, order flows, portfolio trackers, and research panels to match their trading style.
A trader using Vantage would theoretically have visibility into tokens launched through Genesis, assets minted via Metaplex’s core protocols, and trading activity across the broader Solana ecosystem, all in one place.
The MPLX token and DAO dynamics Metaplex operates under a DAO governance model, with its MPLX token serving dual duty as both a governance mechanism and a utility token within the ecosystem. The protocol has implemented buyback programs funded by protocol revenue, a structure designed to create sustained demand for the token independent of speculative trading.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Solana is projected to move Alpenglow, which Anza describes as its biggest consensus upgrade in history, into public testnet this week.
In a Tuesday post, Brennan Watt, CEO of Anza, hinted that the upgrade would go live on testnet in Epoch 1042, expected in less than 2 days according to Solana Beach data.
The move marks the first formal step in a migration that will eventually replace TowerBFT, Solana’s existing consensus system, with Alpenglow. The upgrade has already run for more than 4 months on a dedicated community cluster, where operators have repeatedly rehearsed the migration process.
From 12.8 Seconds to 150 Milliseconds Alpenglow’s main change involves how quickly Solana reaches finality, the point at which the network considers a transaction irreversible under its consensus rules.
Anza estimates that Alpenglow can reduce finality from roughly 12.8 seconds to around 100 to 150 milliseconds. That could change how exchanges, bridges, and merchants handle Solana transactions, since these services often wait for finality before crediting deposits, releasing assets, or confirming payments.
The upgrade replaces TowerBFT with Votor. Instead of recording consensus votes as blockchain transactions, validators exchange votes directly. Votor can finalize a block through 1 of 2 voting paths. One path completes after 1 round when 80% of stake participates, while another uses 2 rounds when participation reaches 60%. Removing onchain voting also frees blockspace currently consumed by consensus traffic.
How Solana Will Switch Consensus Without Stopping Alpenglow does not require a new chain, network restart, or token migration. Solana will switch consensus while the live network continues operating.
The migration follows 4 steps. First, the Alpenglow feature gate activates at an epoch boundary. Nothing migrates immediately.
Then, 5,000 slots later, the migration boundary arrives. Blocks stop carrying user transactions and contain only votes. This creates a safe rollback point because validators can discard blocks after the boundary without losing user transactions.
Validators continue running TowerBFT until 1 block receives votes from 82% of stake. The last ancestor of that block before the boundary becomes the Alpenglow genesis block.
Validators then sign a BLS genesis vote. Once 82% of the stake contributes, the genesis certificate forms.
Finally, validators roll back everything after the genesis block, hand consensus to Votor, and resume processing user transactions. TowerBFT retires, while Alpenglow takes over from the genesis block forward.
Agave 4.3 Leads the First Test Validators participating in the testnet migration need to run Agave v4.3.0. Anza recommended Agave v4.3 for all Mainnet-beta validators on Sept. 21 after a staged rollout that first covered operators representing 10% of stake and then 25%.
Anza's current schedule lists September 28 as a tentative date to activate features included in Agave 4.3 on Mainnet-beta. However, that does not represent a confirmed Alpenglow mainnet launch date.
Firedancer Not Supporting Alpenglow Migration Firedancer and Frankendancer currently do not support the Alpenglow migration. Testnet operators running either client need to switch to Agave v4.3.0 before the feature gate activates.
The situation has also raised concerns about client diversity. Mike MacCana, developer relations at QuickNode, expressed concern about the network relying on a single client during the migration.
The Firedancer team plans to end Frankendancer support when Alpenglow reaches Solana mainnet, expected with v4.3, citing its maintenance and security burden. The team will instead focus on the full Firedancer client.
Solana Foundation validator relations lead Timothy Garcia described the testnet activation as the end of an era for Frankendancer, while crediting the client with having a significant impact on the ecosystem.
What Comes Next After testnet, Alpenglow will move through Devnet before reaching Mainnet-beta. Each cluster must execute the same migration process before the next stage begins.
The upgrade also remains separate from Solana’s slot-time improvements. Solana’s slot time recently dropped to 250 milliseconds under SIMD-0525, while a future stage targets 200 milliseconds.
Alpenglow instead changes how quickly validators reach finality. If the migration succeeds across each stage, Solana will move toward a network where block finality can occur in roughly 150 milliseconds without changing how users send transactions or how applications execute them.
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Solana remained at the center of market attention on September 23, 2026 as traders evaluated strong ETF inflows, the token’s robust technical momentum, and key liquidation levels following a sharp recovery over the past week. Solana (SOL) traded at $116.87, marking a slight decline of 0.16% over the last 24 hours, with total trading volume reaching $4.5 billion and market capitalization standing at $68.66 billion. Over the previous seven days, SOL advanced 19.64% according to CoinMarketCap data.
Analyst Views and Technical OutlookMarket analyst Crypto Patel noted that Solana has more than doubled from his previously identified accumulation range of $60-$67, reaching as high as $120. This move, representing an increase of over 100%, suggests significant gains for traders taking positions in the earlier range.
Despite this sharp rally, Patel retained an optimistic long-term target for SOL, stating that $500-$1,000 remains achievable, but he also foresaw a possible medium-term correction below $70 and potentially toward $50. During the recent retracement from $120, Patel observed that traders who bought between $60-$67 are now positioned profitably. He emphasized no changes to his long-term price targets despite recent pullbacks.
Redlion, another prominent analyst, said Solana has regained traction since reclaiming the $110 level. He considers $110-$111 as a vital support range, and highlighted that the price structure remains constructive as buyers defend critical breakout levels. According to Redlion, the primary resistance stands at $119-$121, and a move above $121 could open the way to $123 or higher. On the downside, loss of the $110 zone would likely weaken the immediate outlook.
The daily RSI is currently hovering around 70, suggesting that Solana is somewhat stretched after its recent rally. Redlion anticipated a consolidation phase as the token absorbs these gains.
Patel continues to see $500-$1,000 as long-term targets for SOL, while Redlion highlights the importance of the $110-$111 support zone and the $119-$121 resistance band as key technical levels to watch in the near term.
ETF Flows and Market ActivityData from SoSoValue showed strong institutional interest. On September 22, Solana spot ETF net inflows reached $28.87 million, lifting cumulative net inflows to $1.47 billion and total net asset value to $1.77 billion. Previous net inflows stood at $47.62 million and $26.10 million on September 18 and 21 respectively, reflecting a significant rebound in demand after a slow start to the month.
Trading activity mirrored this trend, as SOL’s ETF trade value rose to $93.96 million on September 22, though this was lower compared to the $142.79 million posted one day earlier. On September 18, trade value hit $199.56 million, further supporting heightened interest. Each session over these recent days recorded positive net flows, but future sessions will be crucial in determining whether demand remains sustained.
On the technical front, Solana hovered near dense liquidity clusters in the $116.8-$117.3 range, based on CoinGlass liquidation heatmap data. Downside breakouts could pressure the $115-$116 zone, while significant liquidation activity has clustered above $119.5-$120.2, forming the top resistance region. An advance beyond $120 could increase pressure in the $121-$123 area.
Derivatives and Momentum IndicatorsSimultaneously, derivatives activity moderated as futures volume fell by 19.11% to $9.78 billion, and open interest declined 1.41% to $7.13 billion, according to CoinGlass. Despite these declines, the OI-weighted funding rate remained slightly positive at 0.0006%, suggesting a mildly bullish stance.
Short-term technical averages stayed supportive, with the 20-day Exponential Moving Average (EMA) at $106.76 and the 50-day EMA at $97.82. Solana’s price, around $117.09, remained above both levels. The 100-day EMA stood at $91.22 and the 200-day EMA at $93.37, underscoring the token’s strength above medium-term moving averages.
Momentum indicators reflected continued buyer strength, with the MACD line at 5.49 and a positive histogram reading of 1.19. These technicals point to an ongoing uptrend but also suggest short-term overextension.
In volatile conditions like these, not only monitoring liquidity and price levels, but also being aware of shifting trends in specific segments has become increasingly important. In the meme token market, an internet trend can transform into millions of dollars of interest within days. According to data from Fomo App, a trade involving “Niu Lai” that turned a $99 investment into roughly $370,000 serves as a notable example. In this market, tracking both price action and investor timing is crucial. Fomo App integrates token discovery and trading with features such as social feeds, investor rankings, and trade alerts, providing a single platform for following meme tokens alongside investor activity.
Currently, Solana’s price action reflects its position above major support and resistance levels, while increased ETF inflows and declines in derivative trading illustrate a mix of optimism and caution among traders. Market participants continue to monitor whether SOL can maintain its support and eventually push above the $120-$121 area.
Robust ETF inflows, shifting technical indicators, and evolving investor strategies are keeping SOL volatility high, with the coming days expected to clarify the strength of current momentum.
Tokenized commodities trading on Solana hit $87 million in weekly volume, with Raydium, Solana’s largest decentralized exchange, capturing 70% of that activity.
Solana’s tokenized commodity supply reached approximately $50 million by late August 2026, built on the back of assets like Paxos Gold (PAXG) and Dominion Market’s tokenized silver token, SILV. The silver token alone generated over $4 million in 24-hour volume shortly after launch, accounting for roughly 60% of all tokenized commodity trading on the network at the time.
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Raydium has consistently captured between 63% and over 90% of Solana’s tokenized asset trading volume across various categories throughout 2026.
The growth in tokenized gold supply on Solana tells perhaps the most dramatic story: a 689% increase year-over-year through August 2026. Solana’s share of the total on-chain gold market sits at roughly 0.47%, compared to Ethereum, which still dominates the space by a wide margin.
The trading options for commodity exposure on Solana expanded significantly in early September 2026, when GMTrade launched 24/7 perpetual contracts for gold, silver, and WTI crude oil on the network.
On the DeFi side, Kamino, a Solana-based lending protocol, added PAXG as collateral, meaning users can now borrow against their tokenized gold holdings.
Solana managed to route more than 95% of global tokenized equity volume by Q2 2026. Solana’s broader real-world asset metrics have been trending upward throughout 2026, with growth in both supply and holder counts across multiple RWA categories.
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Solana has pushed above $110, a level that had been acting as a ceiling for weeks, opening the door to a potential run toward $133, according to a technical analyst tracking the token’s chart. Just days ago, the same analyst had flagged Solana for a possible 20% move higher, and that’s exactly what has started to play out.
Why $133 Is the Next Level to Watch
The $133 mark lines up with a key resistance zone on the chart. It’s not a guaranteed target, but the analyst expects Solana to reach it as long as Bitcoin’s own rally continues, since the two assets tend to move in tandem. As momentum builds, the analyst plans to keep adjusting support levels based on where the price finds its next low.
Solana Is Outperforming Bitcoin Right Now
Solana has been beating Bitcoin’s performance recently. Looking at how Solana trades relative to Bitcoin directly, Solana still has more room to climb before hitting its own resistance zone.
The analyst said this bounce likely isn’t finished yet, meaning Solana could keep gaining ground on Bitcoin in the near term. That would only change if Solana falls back below a specific lower support level, which would signal Bitcoin taking the lead again.
Is Solana Officially in a Bull Market? Not Confirmed Yet
He was careful about declaring a full bull market just yet. To confirm that shift, he wants to see a clear pattern of the price climbing in stages, then pulling back only partially each time, followed by pushing to new highs again. Right now, Solana has managed a higher high compared to its previous peak, breaking above its May high even before Bitcoin did, which fits with Solana currently outperforming. But he’s still waiting to see a confirmed higher low before calling it a genuine trend reversal rather than just a bounce.
Key Levels for the Days Ahead
On the shorter-term chart, the analyst is watching $107.40 as the nearest support level. As long as Solana holds above that, the short-term uptrend stays intact. A break below it would be the first sign of a local top forming. A tighter, more immediate support sits even closer at $111.06, useful for anyone tracking the very short-term moves.
For now, Solana’s momentum remains strong for now, but the analyst was clear that nothing in crypto comes with guarantees. The setup favors more upside toward $133 as long as Bitcoin keeps climbing and Solana continues holding its support levels, but a confirmed bull market call is still waiting on more evidence, specifically a solid, higher low once the next peak is reached.
Story Ends Here
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Solana (SOL) has entered a bullish phase, breaking out decisively from a cup and handle technical pattern and drawing renewed attention from traders. Momentum has accelerated as both network usage and price action suggest renewed strength for the layer-1 blockchain platform, often cited for its high throughput and low fees.
Technical Breakout and Price TargetsJavon Marks, a well-known market analyst, identified that Solana’s current price structure has developed a classic cup and handle pattern, a historically bullish chart formation. Marks set a long-term price target above $500 if the pattern holds—a significant leap from current levels.
After spending much of July and early August consolidating within a narrow band between $70 and $82, Solana broke through its resistance levels as demand returned. The breakout intensified during the final week of August, pushing the price to a local high of $119.43 before a slight decline to $118.10. This movement diverged from the previous sideways trend.
Exponential moving averages, tracked by TradingView’s technical analysis, underpin the bullish setup, with the 20-day EMA located around $105.59. As long as SOL’s price remains above this level, the breakout formation is expected to remain valid, although any failure to maintain higher support could trigger a pullback.
Marks emphasized the potential upside for SOL, but stressed that, “the predicted target above $500 comes from the long-term implications of the cup and handle pattern and cannot be taken as a guaranteed destination.”
Additional signals of volatility emerged as Bollinger bands widened following the breakout, placing SOL near the upper band at $117.08. However, analysts note that proximity to the upper Bollinger band alone does not confirm further rallies.
Network Utility: Tokenized Equities and x402 ProtocolAs Solana’s price gained momentum, the ecosystem continued to expand. According to SolanaFloor, tokenized equity trading volume on Solana jumped to 35%, marking the network’s highest share in the past two months. This brings Solana closer to Robinhood’s 39% share and indicates increased traction for on-chain trading of traditional financial assets.
Solana, created by Solana Labs, is a high-performance blockchain designed to support decentralized applications and digital assets, known for its rapid transaction processing and growing developer community.
PlatformTokenized Equity Trading Volume (%)Solana35Robinhood39Alongside equity trading, Solana has seen rapid adoption of the x402 payments protocol. The network processed 76% of all x402 transactions, totaling 23.2 million payments in just four weeks. The nearest competing network managed 3.39 million transactions over the same period, highlighting Solana’s scale in blockchain-based payments.
Mini dictionary: x402 protocol, an open payment framework built on top of Solana for fast, decentralized micro-payments and transfer of assets across applications, introduced to improve scalability in the blockchain ecosystem.
Rising transaction counts in x402 and increased market share in tokenized equity trading suggest growing fundamental strength in Solana’s ecosystem, factors that are closely monitored by investors seeking confirmation for the current bullish trend.
Network data shows, “Solana processed 23.2 million x402 protocol transactions, accounting for 76% of total x402 activity in four weeks, underscoring the blockchain’s expanding role in digital payments.”
While the $500 target remains speculative and contingent on continued technical strength, observers are watching SOL’s ability to maintain support above breakout levels as a test for the ongoing rally.
Solana co-founder Anatoly Yakovenko at Consensus Miami 2026 (CoinDesk)Summary
Solana’s Alpenglow upgrade has moved to its public test network, where developers will test reducing transaction finality from about 13 seconds to 0.15 seconds.Alpenglow replaces Solana’s TowerBFT consensus system with Votor, which allows validators to finalize blocks after one or two rounds of direct voting without changing how users send funds.The initial testnet migration requires Agave 4.3 and will not support Firedancer or Frankendancer, while a Sept. 28 mainnet update remains tentative and is not a confirmed Alpenglow launch date.A planned upgrade to make Solana even faster has moved to a testnet, where developers will try to cut the time a payment takes to become irreversible from about 13 seconds to 0.15 seconds.
That moment is known as finality. Exchanges wait for it before crediting deposits, bridges wait before releasing money on another blockchain and merchants need it to know that a payment cannot be taken back.
The upgrade, called Alpenglow, is now being introduced on Solana’s public test network, a copy of the blockchain that uses tokens with no monetary value. Developers can test the migration, find problems and restart the network without putting users’ money at risk.
Solana currently uses a system called TowerBFT to reach consensus, the process through which validators agree on which transactions belong in the permanent record. Validators record their votes on the blockchain and stack enough of them across 32 slots before a block becomes final.
Alpenglow replaces that system with a voting protocol called Votor. Validators send votes directly to one another and can settle on a block after one or two rounds, removing the long chain of onchain votes.
Applications keep executing transactions as they do today, and users will not need to change wallets or how they send funds.
Alpenglow has spent more than four months running on a smaller network created specifically for the upgrade. Moving it to Solana’s established testnet checks whether the broader group of computers and services already running the blockchain can switch together.
Validators taking part need Agave 4.3. Agave is the main software used to run Solana and is maintained by Anza, one of the companies responsible for developing the network.
Anza recommended Agave 4.3 to all mainnet validators on Sept. 21 after first rolling it out to operators responsible for 10% and then 25% of the SOL used to secure the network.
Firedancer and Frankendancer, two alternative validator programs built by Jump Crypto, do not yet support the Alpenglow test.
Those alternatives are intended to reduce Solana’s reliance on a single piece of software, so a fault in Agave does not affect every validator at once. Their absence from the test means the first Alpenglow migration will run entirely through Agave.
Sept. 28 appears in Anza’s schedule as the tentative date for turning on features included in Agave 4.3 on the main network. It is not a confirmed Alpenglow launch date, and Anza’s tracker still listed the testnet switch itself as pending early Wednesday.
12345678910The Definitive Stablecoin Landscape Series: Asia Pacific
The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Sep 15, 2026
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
TL;DR: w0G, the wrapped version of 0G's native token, now trades with live liquidity on Ethereum, Solana, Base, and Robinhood Chain. The official contract addresses are listed below, with chain IDs and decimals. Verify the address before you trade, every time.
Same token, four chains: w0G on Ethereum, Solana, Base, and Robinhood ChainWhat is w0G?Just like wETH is Ethereum's ether in wrapped form, w0G is $0G in wrapped form. Same token, built to travel.
If your funds live on Ethereum, Solana, Base, or Robinhood Chain, you can now get $0G exposure without leaving your chain. As of September 2026, w0G trades with live liquidity on all four networks.
Bridging reaches further than trading. The 0G Hub bridges into 0G from six chains, while the four above are where w0G itself trades with live liquidity.
w0G moves between chains over Chainlink CCIP, the same cross-chain standard 0G has used since mainnet. Hold it as $0G exposure where you are, or move it to 0G mainnet whenever you want the native token. On 0G, w0G unwraps to native $0G.
One distinction worth keeping: w0G is the transport form of the token. Staking, gas, and everything native to the 0G network run on $0G itself. When you want those, come to 0G mainnet and unwrap.
What changedThe contracts themselves are not new. What changed is that there is now real liquidity behind them on four networks at once, so w0G is something you can actually trade rather than an address sitting on a chain.
That removes a step for anyone whose capital already lives somewhere else. Getting $0G exposure used to mean arriving on 0G mainnet first. Now the chain you already use can be the starting point.
Where to get 0Gget.0g.ai is the interactive guide to acquiring 0G, with routes for developers, investors, and ecosystem participants.
Official contract addressesThese are the only official w0G contracts. Anything else using the name is fake. Verify the address before you trade.
NetworkChain IDw0G contract addressDecimals0G Mainnet166610x1Cd0690fF9a693f5EF2dD976660a8dAFc81A109c18Ethereum10x4C1Dab3Be86347977F3DfC4b9688224ef227293918Base84530x23cd099eB438CcA50349EE2BC809196b1ae0086118Solanamainnet-betagNyJyS9pQt33o4y4L3gdWZAF2XHgPrCBRQuaiCZStMe9Robinhood Chain46630x32003CC8357938bCF615c1222a349c58f2B3069818Two details worth reading twice if you are building against these.
The Solana mint uses 9 decimals. Every EVM deployment uses 18. Convert amounts when you move value between them, or your numbers will be off by nine orders of magnitude.
The 0G Mainnet contract is not the same kind of thing as the others. On 0G, w0G is backed by the WrappedOGBase precompile, which is what makes the unwrap to native $0G possible. On Ethereum, Base, Solana, and Robinhood Chain, w0G is registered in Chainlink CCIP's TokenAdminRegistry with its own token pools.
Every address above is also published in the 0G docs:
Where w0G trades todayWe checked these routes on September 23, 2026:
Ethereum: Uniswap, KyberSwapBase: Uniswap, KyberSwapSolana: Jupiter, RaydiumRobinhood Chain: Uniswap, KyberSwapThe fomo and Axiom apps also list w0G on Ethereum, Base, and Robinhood Chain.
To follow price and pools, DexScreener and GeckoTerminal index w0G on all four networks. Search by contract address, never by name: tokens that copy the 0G name appear in search results with fake liquidity figures.
How to check an address before you tradeThree habits that cost a few seconds and save the whole position.
Compare the address against the 0G docs page above, character by character, including the first and last four.Type or paste the address into the chain's own explorer yourself. Do not follow a link someone sent you to get there.Treat any address that arrives in a reply, a DM, a bio, or a group chat as fake until the docs page says otherwise. Scam tokens reuse the w0G name precisely because the name is now worth something.On Ethereum there is one more thing to know. The older bridged 0G token is a LayerZero OFT at 0x4B948d64dE1F71fCd12fB586f4c776421a35b3eE, it moves through Stargate, and it is a different contract from w0G. Both are legitimate 0G tokens, but they are not interchangeable, so check which one a venue expects before you send funds.
Bookmark the docs page. If you ever see a different address claiming to be w0G, it is not ours.
FAQWhat is w0G?w0G is the wrapped version of $0G, the native token of the 0G network. It exists so you can hold and trade $0G exposure on chains other than 0G mainnet. It moves between chains over Chainlink CCIP.
Is w0G the same as $0G?Same value, different form. $0G is the native token on 0G mainnet, used for staking and gas. w0G is its wrapped representation on other chains. Move w0G to 0G mainnet and it unwraps to native $0G.
How do I convert w0G to native $0G?Bridge it to 0G mainnet through the 0G Hub. The Hub delivers w0G first and then unwraps it into native $0G.
Where do I find the official contract addresses?In the table above, and on the 0G docs token-addresses page. Verify against those two before trading. Never trust an address from a reply, a DM, or a bio.
What is 0G?0G is the trust layer for AI. It combines private compute, encrypted storage, and an AI-native EVM L1 chain in one stack where AI work, from inference to agent actions, is verified and audited.
Where can I get 0G?get.0g.ai is the interactive guide on how and where to acquire 0G tokens, with options for developers, investors, and ecosystem participants.
Where can I build on 0G?Start at build.0g.ai for docs, starter kits, and the latest SDK. Visit 0g.ai/partners to browse the projects already shipping on the network.
Midcentury Raises $15 Million, Trains Robots Using 2 Million Hours of Real-Person Videos
Beating AI Express: Robotics data firm Midcentury has emerged from stealth mode and closed a $15 million seed round. Instead of manufacturing robot hardware, the company sells training data and simulation tools for robots. Midcentury has collected over 2 million hours of first-person human videos, covering more than 50 environments and 20,000 tasks. 90% of the footage shows human hands, annotated with 3D hand and body poses, depth, and other metadata. Simply put, robots learn by watching humans perform actions like grasping objects, opening doors, and organizing items. Unlike large models that can scrape the internet for text, robots lack an existing "action internet"—a gap Midcentury aims to fill. The firm also built a simulation platform called Matrix, letting robots run thousands of tests and training runs in virtual environments before operating on real hardware, cutting costs from repeated real-world trial and error.
7 minutes ago
OpenAI’s CEO to Push for Global AI Safety Standards at the United Nations
Beating AI Express News: OpenAI CEO Sam Altman will address the UN Security Council, advocating for unified global AI safety standards while avoiding restrictive measures that could slow innovation. OpenAI stated it does not support establishing a specific international regulatory body, preferring instead basic safety standards paired with democratic oversight. Anthropic CEO Dario Amodei is also expected to participate via video. Earlier, per FT reports, OpenAI on Monday called on the U.S. government to lead the development of international AI standards, and recommended countries coordinate on assessing AI models’ capabilities and risks. OpenAI CEO Sam Altman will present the relevant proposal to the UN Security Council this week. OpenAI specifically warned of potential new risks from Recursive Self-Improvement (RSI), where an increasing number of AI model training tasks are completed by other AI systems. Without adequate safety measures, AI could rapidly evolve to a level beyond effective human oversight, leading to humans gradually losing practical control over AI development. The proposal comes amid growing concerns over AI safety.
7 minutes ago
Kalshi plans to introduce the crypto perpetual contract model to U.S. equities, and has submitted permanent listing standards for securities and futures to the SEC.
Today, the U.S. Federal Register published a rule filing notice from KalshiEX LLC (Kalshi). The prediction market platform has submitted proposed rule changes to the U.S. Securities and Exchange Commission (SEC), seeking immediate implementation. The changes add Chapter 14 to Kalshi’s rulebook to list Perpetual Securities Futures Products (Perpetual SFPs). These contracts have no fixed expiration date, and their prices are anchored to the spot values of underlying U.S. stocks or ETFs via periodic funding fees between long and short positions. Kalshi categorizes the products as securities futures, and intends to clear them through its subsidiary clearing platform Kalshi Klear. The listing threshold is stringent: underlying assets must have a deliverable supply exceeding 20 million shares, a market capitalization of at least $100 billion, an average daily trading volume of no less than $450 million over the past six months, and contract units are mostly 100 shares.
7 minutes ago
Zest Announces On-Chain Proof for Bitcoin-Collateralized Vault Mainnet Demo
Bitcoin lending protocol Zest Protocol has released its "Proof of Mainnet Deployment", with the mainnet demo of its Bitcoin Collateral Vaults now independently verifiable. A total of 3 Bitcoin transactions and 7 Ethereum transactions have been made public. The product design locks BTC in Bitcoin mainnet vaults, avoiding wrapping or cross-chain bridging, and allows users to borrow stablecoins on EVM-compatible chains such as Ethereum. This feature remains a mainnet prototype, not a fully open deposit and lending service. The official roadmap is divided into two phases: Phase 1 uses pre-signed transactions to restrict BTC settlement paths, while Phase 2 will transition to BitVM verification. A functional mainnet prototype is now available, and the team is accelerating its official deployment.
7 minutes ago
Binance Alpha conducts the third round of Cysic (CYS) airdrop.
Binance Alpha is conducting its third round of Cysic (CYS) airdrop. Users with at least 250 Alpha points can claim 180 CYS tokens on a first-come, first-served basis. If the entire reward pool is not fully distributed, the point threshold will automatically decrease by 5 points every 5 minutes. Claiming the airdrop consumes 15 Alpha points.
7 minutes ago
Trump purchased shares of MicroStrategy (MSTR) in late July, right as the stock hit its year-to-date low.
The U.S. Office of Government Ethics (OGE)’s periodic transaction report (OGE Form 278-T) released on September 22 shows that Donald Trump’s accounts purchased Class A shares of Strategy Inc. (MSTR) in late July. The 37-page document lists a total of 1,156 securities transactions in July, including three entries related to Strategy: a sale on July 8 (valued at $1,001–$15,000), a purchase on July 24 (same value range), and another purchase on July 27 (valued at $50,001–$100,000). This is not the first time Trump’s accounts have held Strategy stock: the May filing covering January to March listed 8 Strategy transactions, while June saw 2 sales with no buys. The two July 24 and 27 purchases are new trades in subsequent reporting windows, adding to existing positions. Per BIT (bit.com) market data, MSTR has risen roughly 83% since July 24, a period when Strategy was facing challenges at the time of Trump’s buys. The White House has previously stated that the stock and bond ledger is not traded by the president himself; holdings are in a discretionary account managed by a third-party firm, with some transactions for model portfolios tracking established indices. The filings are still submitted under Trump’s name because he is the beneficiary.
Solana (SOL) is trading near $117.38, rebounding impressively from its recent lows. As SOL tests the significant $118 to $120 resistance zone, investors are monitoring whether growing momentum will generate a major breakout or result in another consolidation phase.
Golden cross formation approaches for SolanaTechnical analysis shows that Solana’s price has climbed above its 200-week moving average after an extended corrective period and is approaching another key moving average. With both indicators converging, market watchers are alert to the possible emergence of a weekly golden cross, a pattern often associated with the start of a larger trend reversal.
Renowned X analyst Ash Crypto pointed to the forming weekly golden cross as a potential early sign that SOL could be on the cusp of a more lasting trend shift. SOL tested the $120 region for the first time in around eight months, highlighting the energy of the current recovery from earlier lows near $60.
The golden cross is not yet confirmed. Sustained price action above the 200-week moving average would reinforce the outlook, while a rejection at the upper boundary may lead to further consolidation before another breakout effort.
Constructive signs appear on Solana’s weekly chart, with price reclaiming the 200-week moving average and approaching a golden cross, though confirmation is still pending. Staying above this level would mark a significant development in the ongoing recovery.
$118 breakout could set up $148 targetSOL’s rally has brought it back to a key resistance level previously identified as a crucial boundary for support and resistance. The $118 region is now the pivotal area to watch as the asset makes another push, seeking to extend its upward recovery.
According to trader GordonGekko, if Solana price can establish itself above $118, the next upside target is around $148. SOL recently rebounded from support near $96, approaching current resistance, with a successful breakout likely pushing the token deeper into the next major supply zone at $148. If SOL falls back below $118, attention will shift to the $110 to $112 range.
Long-term forecasts put $400 in focusAnother perspective suggests SOL could enter a broader recovery if current price action builds into a firm bullish trend. Analyst Sweep’s long-term fractal comparison highlights similarities between Solana’s present consolidation phase and its previous base-building period, where a substantial rally followed. For the $400 to $500 zone to become a probable scenario, SOL must first overcome resistance at $118 and $148 and then confirm a higher trend structure.
These projections remain speculative. For now, the main thresholds to watch are the reclaiming of $118 as support and a successful test of the $148 resistance in the coming sessions.
Open interest surges as traders returnDerivatives market activity is rebuilding alongside Solana’s price recovery. Santiment Intelligence data reveal that SOL’s open interest in derivatives markets now stands at approximately $2.97 billion, reflecting greater exposure by traders seeking to capitalize on the move.
By comparison, Bitcoin’s open interest is about $25.84 billion and Ethereum’s sits at $16.97 billion. Across the digital asset landscape, rising open interest signals the return of leverage and growing participation as prices rebound.
Rising open interest on SOL derivatives points to increased leverage and trader involvement, but the risk of large liquidations remains if prices reverse abruptly, especially while SOL tests the $118 to $120 resistance area.
As Solana tests the $118-$120 resistance, the reaction at these levels will likely determine whether increased leverage fuels further gains or exposes traders to abrupt liquidations in the event of a reversal.
In rapidly moving markets with strong technical triggers like a golden cross, close monitoring of price and market structure is key for traders. In the meme token sector, for instance, social sentiment and timely trades can lead to explosive activity. Fomo App data showcases a notable example where a $99 investment in “Niu Lai” ballooned to around $370,000, highlighting the significance of tracking both prices and investor moves. Fomo App centralizes meme token discovery and trading, featuring investor rankings, social feeds, and trade alerts, offering users a way to follow meme tokens and investor actions in real time.
Solana outlook shifts as technicals improveSolana’s recent price action is drawing renewed interest. The recovery above the 200-week moving average paired with the developing golden cross has improved the long-term technical outlook. Yet, confirmation of a new bullish phase depends on ongoing buying, rising participation, and the formation of a sequence of higher highs and lows.
Short-term consolidations or pullbacks would not undermine the structural recovery so long as key support levels hold. Market participants are waiting for clear confirmation that Solana can sustain its gains and potentially transition into a robust upward trend over the coming weeks.
23 September 2026 | 09:50 Solana’s Alpenglow upgrade targets finality in roughly 150 milliseconds. Anza’s newly updated rollout tracker, however, shows that its public testnet activation is still pending.
Key Takeaways Alpenglow awaits public testnet activation. Agave v4.3 carries the feature gate. No activation epoch has been published. Finality could fall to approximately 150ms. Other validator clients remain unsupported. The tracker does not show Alpenglow as active Anza placed Alpenglow under “Pending Testnet Activation” in its official feature-gate tracker, which was updated on September 22.
The entry identifies the feature as SIMD-0326: Alpenglow: new consensus algorithm and assigns it to Agave v4.3.0. The fields for its testnet activation epoch and date remain empty.
Alpenglow’s recorded rollout status
Status
Pending testnet activation
Supported release
Agave v4.3.0
Activation epoch
Not yet published
Alternative validator clients
Firedancer and Frankendancer are marked “NOT SUPPORTED”
Agave v4.3.0 is also listed as the next expected testnet version floor. A version floor is the oldest software release validators can run while remaining compatible with that network. Anza describes its schedule as tentative, so the listing is not a guaranteed activation date.
What Solana’s 150ms target actually measures Solana’s official upgrade documentation says Alpenglow aims to reduce finality from approximately 12.8 seconds to around 150 milliseconds. If reached, that would make finality roughly 85 times faster.
Finality is the point at which validators have reached enough agreement for a block to be treated as irreversible. It is not simply the moment a transaction first appears on the network.
Today, an application can see a Solana transaction as “confirmed” before it receives the network’s stronger “finalized” status. Alpenglow is designed to make those two stages converge because a finalization certificate could arrive within roughly the period now associated with an initial confirmation.
Three clocks can govern one payment Execution: The transaction runs and initially appears in a block.
Protocol finality: Validators establish that the block should no longer be reversed.
Service release: An exchange, bridge or merchant decides when to credit the deposit, release assets or complete the order.
Alpenglow would shorten the second clock. Each business would still control the third, meaning a 150ms protocol target would not guarantee that every customer-facing payment finishes in 150 milliseconds.
How Alpenglow changes Solana’s consensus Alpenglow’s first stage introduces Votor, a replacement for the voting process used by Solana’s current TowerBFT consensus system.
Validators currently submit votes as transactions and build finality over a sequence of slots. Under Votor, they would exchange votes directly and combine them into certificates showing that enough stake has approved a block.
A block could finalize after one voting round when participation arrives quickly. A second round would be available when network conditions prevent the faster route.
🚨 Testnet operators: Alpenglow activation on testnet only runs on Agave. If you’re on Firedancer or Frankendancer today, switch over to an Agave node before the migration window so your stake counts toward activation. Details in the thread below 👇 https://t.co/4b6b5GaZJN
— Anza (@anza_xyz) September 22, 2026
The upgrade does not change how smart contracts execute, how balances are calculated or how users submit ordinary transactions. It changes how validators agree that the resulting block is final.
Solana has also been changing what transactions can contain. Its recent increase in maximum transaction size created more room for signatures, instructions and proofs. That upgrade changes what can fit inside a transaction; Alpenglow changes how quickly the network can consider it irreversible.
Where faster finality could make a difference Exchanges A platform could credit a Solana deposit sooner, although identity checks, wallet screening and internal risk controls may still delay access to the funds.
Bridges A bridge could verify the Solana side of a transfer sooner, but its relayers and the destination blockchain would continue operating on separate timelines.
Merchants If blockchain finality is the slowest part of checkout, a payment processor could confirm an irreversible payment sooner and begin fulfilling the order.
The improvement would be most visible where a service currently waits for Solana’s strongest settlement assurance. It would have less effect when compliance checks, another blockchain or an offchain payment system already causes the larger delay.
The tracked activation currently supports only Agave Solana can be operated through independently developed validator clients. Agave is maintained by Anza, while Firedancer and Frankendancer provide alternative implementations.
The current Alpenglow entry assigns the feature to Agave v4.3.0 and marks both Firedancer and Frankendancer as unsupported. The entry describes the pending testnet feature gate; it does not establish which clients will support Alpenglow by the time any mainnet activation is considered.
No date for adding support to either alternative client appears in the tracker. Their readiness therefore remains an open rollout question rather than evidence that they have been permanently excluded.
What the testnet activation needs to prove Migration: Can validators switch consensus systems without interrupting block production? Observed speed: Does measured finality approach 150ms rather than merely meeting the target in controlled tests? Network delays: Does finality remain reliable when validators or internet connections respond slowly? Infrastructure delivery: Do RPC providers and indexers receive the new finality data quickly and consistently? Client readiness: When can additional validator implementations support the new consensus system? The 150ms figure is an expectation, not a constant. Solana’s documentation says finality can vary with stake distribution and whether a block requires one voting round or two. Some infrastructure may also learn that a block has finalized later than the validators directly producing the certificate.
Even a successful testnet result would not guarantee identical performance on mainnet. Validator participation, stake distribution and network traffic can differ between the two environments.
An activation epoch will begin the real test The next verifiable milestone will be a published activation epoch or an official notice that the feature gate has opened. Public testnet data can then show how close Alpenglow comes to its target and how quickly the resulting finality signal reaches wallets and infrastructure.
For payment companies, faster validator agreement is useful only if they receive that information quickly enough to change when funds are released. The activation epoch will begin that test; it will not settle the question by itself.
This article is provided for informational purposes only. Network schedules, validator-client support and measured finality can change as testing progresses.
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.
Key Highlights SOL has climbed beyond the $110 threshold, surpassing a resistance point that restricted upward movement for multiple weeks. Chart analysis identifies $133 as the subsequent significant resistance zone should the present uptrend persist. Market analyst Ash Crypto noted that SOL has successfully recaptured its 200-day moving average on the weekly timeframe and touched $120 for the first occasion in eight months. Immediate support zones are positioned around $111.06 and $107.40, with a decline beneath $107.40 potentially compromising the bullish outlook. The Alpenglow network enhancement has progressed to public testnet phase, aiming to achieve transaction finality in approximately 150 milliseconds. After weeks of encountering resistance, Solana has successfully breached the $110 price barrier, reinforcing its near-term bullish structure. During this upward movement, SOL touched $120, marking its strongest performance in roughly eight months.
[[IMG_4]]Solana (SOL) Price Chart evaluations currently identify $133 as the subsequent critical resistance threshold. Achieving this target relies partially on Bitcoin maintaining its recovery trajectory while SOL defends its newly recaptured support zones.
Additionally, Solana has demonstrated superior performance compared to Bitcoin on a relative measurement. Based on available technical analysis, the SOL/BTC pairing still indicates potential upside before encountering its next resistance barrier.
Technical Analysis Points to $133 Following Resistance Breakthrough The closest near-term support level is positioned at approximately $111.06, with $107.40 representing a broader support threshold under observation. Maintaining prices above $107.40 would preserve the existing bullish framework.
Should the price fall below this critical level, it would signal the initial warning that the recent rally may have established a temporary peak. Market participants are also monitoring for SOL to confirm a higher low formation before validating this movement as a definitive trend reversal.
Cryptocurrency analyst Ash Crypto stated on X that SOL presently exhibits among the most robust technical patterns within the altcoin sector. He emphasized SOL’s recovery of its weekly 200-day moving average, the achievement of $120—the first time in eight months—and the formation of a weekly golden cross pattern.
$SOL has one of the most bullish setups among altcoins right now.
– Reclaimed the weekly MA200.
– Hit $120 for the first time in 8 months.
– Weekly golden cross is forming.
Solana may have already bottomed. pic.twitter.com/FRQ6kYcAQ2
— Ash Crypto (@AshCrypto) September 22, 2026
According to Ash Crypto, these technical indicators could suggest that Solana has completed its bear market bottom formation. His analysis concentrated on weekly chart patterns rather than establishing immediate price projections.
The $133 region continues to be the primary upside objective recognized in near-term technical assessments. A sustained advance toward this zone would represent a continuation of the recovery initiated after SOL broke through $110.
Solana is currently evaluating a significant network enhancement dubbed Alpenglow, engineered to reduce transaction finality duration from approximately 12.8 seconds to roughly 150 milliseconds. Transaction finality represents the stage at which a blockchain transaction becomes permanently confirmed and irreversible.
Alpenglow is coming.
See the detailed upgrade guide and migration checklist here: https://t.co/DA1hih7dhU
— Solana Developers (@solana_devs) September 21, 2026
The Alpenglow upgrade substitutes Solana’s current TowerBFT consensus mechanism with an alternative voting system named Votor. This allows validators to finalize blocks following just one or two voting cycles instead of processing through an extended series of onchain voting rounds.
This enhancement has already undergone more than four months of operation on a dedicated smaller testing network. It is now advancing to Solana’s established public testnet environment for expanded evaluation.
Participating validators require Agave 4.3, which serves as the primary client software for operating Solana nodes. On September 21, Anza issued a recommendation for all mainnet validators to adopt this version.
Currently, Firedancer and Frankendancer client implementations do not include support for Alpenglow testing. Consequently, the initial testnet transition will exclusively utilize the Agave client.
Anza’s development roadmap indicates September 28 as a provisional date for activating Agave 4.3 capabilities on the mainnet. However, this does not constitute a confirmed deployment date for Alpenglow on mainnet, as the upgrade continues undergoing comprehensive testing procedures.
Solana has moved its Alpenglow consensus upgrade toward public testnet deployment as developers prepare to test a design intended to cut transaction finality from roughly 13 seconds to around 150 milliseconds.
Summary
Solana’s Alpenglow upgrade is moving to public testnet with a target of cutting transaction finality from roughly 13 seconds to around 150 milliseconds. Alpenglow replaces TowerBFT with Votor, allowing validators to reach agreement through one or two direct voting rounds. Agave 4.3 is required for the test, while Firedancer and Frankendancer do not yet support Alpenglow. Sept. 28 is listed for tentative Agave 4.3 feature activation on mainnet, but it is not a confirmed Alpenglow launch date. According to github, the testnet stage will let developers test the migration across Solana’s established testing environment before the consensus system can be considered for the main network.
Finality refers to the point when a transaction becomes irreversible under the network’s consensus rules. Exchanges typically wait for finality before crediting deposits, while blockchain bridges use it before releasing assets on another network.
Solana currently relies on TowerBFT for consensus, with validators recording votes onchain and accumulating enough votes across 32 slots before a block reaches finality. Alpenglow replaces that process with a protocol called Votor, which lets validators exchange votes directly.
Under the new design, validators can reach agreement after one or two voting rounds. The change removes the longer sequence of onchain consensus votes required under TowerBFT while leaving transaction execution largely unchanged for applications and users.
Solana Alpenglow moves into public testnet Alpenglow has already spent more than four months operating on a smaller community cluster created specifically to test the consensus system. Moving the upgrade into Solana’s established public testnet exposes it to a larger group of validators, infrastructure providers and services already connected to the network.
The public testnet uses tokens without monetary value, allowing developers to restart the network, test migration procedures and investigate problems without putting mainnet funds at risk.
Anza first moved Alpenglow into community validator testing in May, describing the upgrade as the largest consensus change in Solana’s history. As crypto.news previously reported, the community cluster allowed validator operators to test the new consensus design before deployment across Solana’s existing test infrastructure.
Votor is designed to reach finality through one of two voting paths depending on validator participation. Earlier specifications indicated that a block could settle after one round when enough stake participates, while a second round provides another route to finality under lower participation.
The expected result is a sharp reduction from Solana’s existing finality time. Anza has estimated median finality at around 150 milliseconds, with earlier simulations putting it as low as 100 milliseconds under favorable conditions.
Developers have not changed how applications execute transactions as part of the upgrade. Wallet users will continue sending transactions through the same interfaces, while the main changes take place in how validators communicate and agree on the permanent state of the blockchain.
Agave 4.3 carries the Alpenglow code Validators participating in the Alpenglow test need to run Agave 4.3, the latest branch of the main validator software maintained by Anza.
Anza recommended Agave 4.3 for general adoption among mainnet validators on Sept. 21. The rollout had previously moved through controlled stages, first asking operators responsible for 10% of mainnet stake to upgrade before expanding the recommendation to 25%.
Alpenglow development has been tied to Agave releases for months. In August, the 150 millisecond finality target was expected to arrive through Agave 4.3 after the underlying Alpenglow code had already been included for testing in the previous software branch.
The Sept. 28 date listed in Anza’s Agave 4.3 schedule refers to the tentative resumption of mainnet feature activation. Anza states that its release dates are subject to change, while its feature gate tracker still listed the Alpenglow testnet activation as pending early Wednesday.
Sept. 28 therefore does not represent a confirmed date for Alpenglow to begin operating on Solana mainnet.
The distinction comes as several Solana performance upgrades have been moving through separate activation schedules. Transaction finality, slot production and transaction capacity are controlled by different network changes even though each can affect how quickly applications interact with Solana.
Solana has already reduced slot times to 250ms Solana recently cut its target slot time from 300 milliseconds to 250 milliseconds under SIMD-0525, bringing the network to a target of four slots per second.
The 250 millisecond slot upgrade reduced each validator’s four slot leader window from 1.2 seconds to one second. Network processing limits were adjusted alongside the shorter slots, meaning the change did not raise overall processing capacity by the same proportion.
A final stage under SIMD-0525 targets 200 millisecond slots, which would bring the network to five targeted slots per second. Developers have not set a confirmed mainnet activation date for that stage.
Slot time and finality measure different parts of the network. Slot time determines how frequently Solana can produce new slots, while Alpenglow changes how validators reach agreement that a block is irreversible.
Solana began the current sequence of slot reductions in August, when its target fell to 350 milliseconds from the 400 millisecond setting used since the network launched. SIMD-0525 laid out successive targets of 350, 300, 250 and eventually 200 milliseconds.
Alpenglow follows a separate path through SIMD-0326 and replaces TowerBFT with Votor instead of modifying the duration of individual slots.
Firedancer remains outside the first Alpenglow test Firedancer and Frankendancer, validator clients developed by Jump Crypto, do not currently support the Alpenglow test, leaving the initial migration dependent on Agave.
Client diversity gives Solana validators different software implementations for participating in the same network. If separate clients are available, a software fault affecting one implementation does not necessarily affect every validator.
Firedancer began producing mainnet blocks earlier this year after years of development by Jump Crypto. The team initially recommended a gradual rollout while security audits continued, with the independently built client intended to reduce reliance on Solana’s existing validator implementations.
Frankendancer serves as a hybrid implementation that combines components from Firedancer with existing Solana software. Neither implementation is listed as supporting the pending SIMD-0326 Alpenglow feature on Anza’s current feature gate tracker.
Agave 4.3 is therefore the supported client for the first public testnet migration. Anza’s tracker lists Alpenglow as a pending testnet activation under SIMD-0326, while support fields for Firedancer and Frankendancer remain marked as unavailable.
Solana (SOL) climbed above $110 this week, breaking a resistance level that had constrained the coin for several weeks. The cryptocurrency reached $120 during its latest rally, marking Solana’s highest price point in roughly eight months and reinforcing renewed bullish sentiment around the project.
Next resistance and support levelsFollowing the breakout, technical analysts have identified $133 as the next significant resistance zone for SOL. Market participants are watching this level closely as a potential target, contingent on both continued momentum in Solana and a sustained recovery in Bitcoin‘s price.
Relative to Bitcoin, Solana has shown improved strength. Technical reviews highlight that the SOL/BTC pair still has room to appreciate before facing notable resistance.
The nearest support areas for SOL now stand at $111.06 and $107.40. Defending these levels is critical to maintaining the current bullish structure. If Solana falls below $107.40, this could indicate that the recent rally has peaked, potentially shifting the trend downward.
LevelPriceSignificanceImmediate resistance$133Next upside targetSupport$111.06Short-term defenseCritical support$107.40Bullish structure at risk belowAsh Crypto, a prominent market analyst, assessed on X (formerly Twitter) that SOL’s technical setup is among the strongest in the broader altcoin sector. He underscored that Solana has reclaimed its 200-day moving average on the weekly timeframe and achieved a price of $120 for the first time in eight months, with a weekly golden cross pattern emerging in charts. A golden cross occurs when a shorter-term moving average crosses above a long-term moving average, often viewed as a bullish indicator.
According to Ash Crypto, the combination of these signals indicates Solana could have completed its bear-market bottom, although he did not specify short-term price targets.
Analysts maintain that $133 remains the key zone to monitor. If SOL sustains its momentum and overcomes this barrier, the rally that began after clearing $110 could extend further.
Alongside recent market gains, Solana’s network is progressing with a major protocol enhancement called Alpenglow. This upgrade is designed to cut transaction finality times from approximately 12.8 seconds to only 150 milliseconds—a significant step in enhancing blockchain transaction efficiency.
Transaction finality refers to the point at which a blockchain transaction is permanently and irreversibly confirmed, ensuring network security against reversal or double-spending.
Alpenglow replaces Solana’s current TowerBFT consensus mechanism with a new system known as Votor, allowing validators to confirm blocks after just one or two voting cycles. This contrasts with the previous protocol, which required multiple on-chain voting rounds to reach finality.
The new mechanism has already undergone over four months of stress-testing on a separate network and has now entered Solana’s public testnet stage for broader evaluation.
Participating validators are required to use Agave 4.3, the latest main Solana client software. Developer group Anza recommended mainnet validators prepare for this upgrade on September 21. At present, the Firedancer and Frankendancer validator clients do not support Alpenglow testing, so testnet activities center exclusively on the Agave client.
Anza’s current roadmap suggests September 28 as a potential date to activate Agave 4.3 on mainnet. However, this does not guarantee an immediate Alpenglow deployment, as further public testing will continue.
Mini dictionary: Alpenglow, a network upgrade for Solana, aims to boost transaction speed by reducing finality times to under one second using a new voting protocol called Votor, replacing the former TowerBFT system.
Bitcoin and altcoins experienced a significant surge last week despite the delay in the Clarity Act and the Fed’s interest rate hike decision.
At this point, with two important macroeconomic developments from last week now behind us in the cryptocurrency market, Bitcoin and Ethereum have risen, surpassing the upper limits of their previous trading ranges.
BTC surpassed $87,000 for the first time since January, while ETH climbed above $2,700.
While other major altcoins also saw significant gains, XRP surpassed $1.6 and Solana approached the $120 mark.
In its latest analysis, market maker Wintermute stated that although the Federal Reserve’s interest rate decision and the outcome of the Clarity Act process in the US Senate were negative, they eliminated a significant portion of the uncertainty in the market.
ETF Flows Supported Recovery! Wintermute analysts pointed out that the rise was not solely due to the closing of short positions in the futures market.
At this point, the company noted that fund flows into spot Bitcoin ETFs in the US were also supporting the recovery.
Citing ETF data, the company stated that despite total outflows of $746 million on Tuesday and Wednesday, net inflows of $159.5 million were recorded on Thursday and $433 million on Friday. This reduced the total weekly net outflow to approximately $6 million.
Attention May Turn Towards the Left and Hype! Wintermute expects the market to establish new price levels and absorb profit-taking after a breakout above the current range in Bitcoin and Ethereum.
“Two key variables that introduced uncertainty to the markets have been resolved and the trading range has been broken. This week will be a period for new price levels to form and for profit-taking volume to be absorbed.”
The company states that in the short term, the focus may be on Bitcoin and Ethereum, as well as altcoins such as Solana and Hyperliquid (HYPE).
“We expect the focus this week to shift to BTC, ETH (along with Glamsterdam), SOL, and HYPE. For now, the excitement seems healthy. Green candles lift the spirits.”
Wintermute stated that if a new bull run occurs in Bitcoin, capital could then flow into small and medium-sized altcoins.
*This is not investment advice.
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TLDR Solana (SOL) is trading near $117.38 after testing the $120 area for the first time in about eight months. Analyst Ash Crypto points to a weekly golden cross forming after SOL reclaimed its 200-week moving average. GordonGekko says a sustained reclaim of $118 could open a move toward $148. SOL open interest has climbed to about $2.97 billion, according to Santiment data. Solana processed 76% of all x402 transactions and holds a 35% share of tokenized equity volume. Solana (SOL) is trading near $117.38 after a strong recovery from its recent lows. The price hit a session high of $119.90, putting it right at the $118 to $120 resistance zone.
SOL is down 0.13% over the last 24 hours. This is the first time the token has tested $120 in about eight months.
Earlier this year, SOL fell as low as $60. It then spent July and the first half of August trading in a range between about $70 and $82.
Buying picked up in the last week of August, and the price broke out of that range. SOL later climbed to a local peak of $119.43.
Solana Price on CoinGecko Analysts Point to Golden Cross and Breakout Levels Analyst Ash Crypto shared a weekly chart on X showing SOL has moved back above its 200-week moving average. He pointed to a weekly golden cross that is forming, which he sees as a possible sign of a larger trend reversal.
The golden cross has not been confirmed yet. If SOL is rejected at the upper moving average, the price could move sideways before trying again.
$SOL has one of the most bullish setups among altcoins right now.
– Reclaimed the weekly MA200.
– Hit $120 for the first time in 8 months.
– Weekly golden cross is forming.
Solana may have already bottomed. pic.twitter.com/FRQ6kYcAQ2
— Ash Crypto (@AshCrypto) September 22, 2026
Analyst GordonGekko said on X that a sustained reclaim of $118 could trigger a move toward $148. His chart shows SOL bouncing from a base near $96 before rising to current resistance.
If SOL falls back below $118, the $110 to $112 area comes into focus. On the daily chart, the 20-day EMA sits near $105.59, according to TradingView data.
Analyst JAVON MARKS said on X that SOL has broken out of a long-term Cup and Handle pattern. He noted the pattern points to a target above $500, though this reflects the full measured move of the pattern rather than a set forecast.
Another analyst, Sweep, compared SOL’s current base near $95 to $100 with an earlier accumulation phase that came before a large rally. His fractal chart projects a path toward $400 to $500 over a much longer timeframe.
Open Interest and Network Activity Rise Derivatives activity is also picking up. Data shared by Santiment Intelligence on X shows SOL open interest at about $2.97 billion.
The same data puts Bitcoin open interest near $25.84 billion and Ethereum at $16.97 billion. The figures show traders are adding leverage across the market as prices recover.
On the network side, SolanaFloor reported on X that Solana’s share of tokenized equity trading volume rose to 35%. That is its highest level in two months.
The figure puts Solana close to Robinhood, which holds a 39% share. Solana had trailed further behind in July.
Solana’s official X account also shared data on x402 payments. It said the network processed 76% of all x402 transactions, totaling 23.2 million in four weeks.
The second-largest network handled about 3.39 million x402 transactions over the same period.
SOL was last seen near $117.38, just under the $118 level that analysts are watching.
Finally, Solana [SOL] turned $110 into a strong launch pad and bounced to $119.
As of this writing, Solana was trading around $116, up 4% on the daily charts. This is a level that the altcoin has not breached since January 2026.
Besides improved economics across the market, Solana’s upside momentum strengthened significantly, mostly driven by institutional demand.
Institutions throw their weight behind Solana After the crypto market got another foothold to the upside, institutions’ appetite returned. AMBCrypto had earlier reported that the BSOL ETF started the institutional scramble for SOL, recording over $47 million in inflows on the 18th of September.
With BSOL taking the first leap of faith, others have since followed suit. As a result, most of SOL Spot ETFs recorded net inflows, with only three of the nine funds showing no movement.
Source: SoSoValue As such, the altcoin’s Spot ETFs recorded $26 million in daily total net inflows, pushing assets to $1.74 billion. Over the past two sessions, the altcoin saw over $73 million in net inflows, reflecting a shift in sentiment among institutional investors.
Previously, when inflows reached these levels, SOL rose from $82 to $109, pointing to a direct correlation between strong price jumps and institutional demand.
Small-scale investors hold the market back Unsurprisingly, small to medium investors took the market recovery as an opportunity to cash out. These investors have mostly endured a prolonged period of poor performance.
When Solana crossed the $100 mark again, profit taking surged. Over the past week, Spot netflow turned negative only once.
Source: CoinGlass The past three days have all seen higher exchange inflows. The net flow was particularly extreme on the 21st of September, climbing to $98 million – a peak last witnessed in November 2025.
At press time, Netflow remained positive at $30 million, a clear sign of aggressive Spot taking. The sell pressure caused by these investors has resulted in the slowdown and retracement recently witnessed.
In essence, they are dragging Solana’s current trend.
Which way for SOL? While SOL Spot ETFs have recorded net inflows for two consecutive sessions, they have only recorded a mere $73 million in net inflows. This demand remained relatively below the exchange deposits over the same period.
Despite this, the market structure is still leaning bullish. Notably, the Normalized RVGI indicator has been on an upward trajectory for six consecutive days.
Source: TradingView Likewise, the Trend Pressure Prism shows bullish conviction with a score of 87. These factors suggest that the market is currently taking in the pressure well and has a chance for another upside move.
Therefore, a slowdown in profit-taking or higher inflows from ETFs could help Solana breach $120 ,and eye a move above $130, with $148 as a medium-term target.
Final Summary Solana Spot ETFs are recording net inflows again, seeing $73 million over two trading sessions, with six funds now seeing net flows. SOL rose to an 8-month high of $119 then retraced to $116 as profit taking threatened another pullback.
Decentralized exchanges operating on the Solana blockchain recorded approximately 208 million trades during the week of September 14 to 20, surpassing the 189 million trade count on the New York Stock Exchange (NYSE) for the same period. This development highlights growing activity on Solana’s onchain trading platforms, although trade frequency does not directly represent total value exchanged.
Solana DEX volumes outpace traditional exchangesAccording to data compiled by Flipthe.market and analyzed by Blockworks Research, 208 million trades were executed across Solana-based decentralized exchanges (DEXs) in a single week. In comparison, the NYSE—recognized as one of the world’s largest traditional stock exchanges—facilitated 189 million trades during regular U.S. market sessions in that timeframe. This marks the first instance where Solana’s weekly trade count surpassed that of the NYSE.
Several differences exist in these figures. Solana’s onchain infrastructure supports uninterrupted, global trading activity, whereas the NYSE operates only during scheduled U.S. trading hours. As a result, Solana DEXs capture activity from around the world, including weekends and late hours when traditional markets are closed.
Trade counts on decentralized exchanges typically reflect the number of transactions or swaps, rather than the underlying dollar volume moved. This provides a measure of user activity and transaction frequency but is not a direct comparison of market value between the two platforms.
Surging DEX volume and expanding ecosystemDuring the same week, Solana DEXs handled approximately $17.3 billion in trading volume, according to Blockworks Research. Rather than representing a sudden spike, this figure is part of a sustained trend of heightened decentralized trading activity on the network.
Recent data from DefiLlama indicate Solana DEXs achieved around $3.21 billion in 24-hour volume and $76.3 billion over the last 30 days. Major contributors to this ecosystem include Raydium, Pump, and Orca, while Jupiter, a leading DEX aggregator, accounted for roughly $107.33 million in 24-hour aggregation volume.
Mini dictionary: DefiLlama, Raydium, Orca, and Jupiter are major data providers and core platforms within Solana’s decentralized finance (DeFi) landscape, tracking DEX activity and aggregating liquidity from multiple sources.
PlatformWeekly TradesWeekly VolumeOperating HoursSolana DEXs208 million$17.3 billion24/7, globalNYSE189 millionNot specifiedWeekdays, U.S. trading hoursSOL price gains alongside increased activityThe surge in onchain trading activity has coincided with a notable rise in Solana’s native token, SOL. The price of SOL climbed from $96.93 on September 15 to $117.9 on September 22, a gain of approximately 20%. The token also reached an intraday high of $119.43 on September 22, with a market capitalization standing at around $69.8 billion.
Current data from CoinGecko place 24-hour SOL trading volume at $6.83 billion, indicating ongoing investor interest in the asset. While there is no automatic link between heightened DEX activity and price gains, broader market participation provides context for evaluating demand for both the network and its token.
Global trading on Solana DEXs exceeded even the NYSE trade count, showing how decentralized markets now rival traditional financial institutions in transaction volume. At the same time, increased DEX activity has gone hand in hand with a surge in SOL market value.
Syndica, a cloud infrastructure provider specializing in Solana, has previously found that the network remains a global leader in decentralized exchange usage. Research conducted this year noted Solana’s continued prominence in worldwide DEX volume and liquidity, further reinforced by the latest trade count record.
The ability of Solana’s blockchain to operate without downtime or market closures distinguishes it from traditional exchanges, supporting a broad spectrum of time zones and participant profiles. This positions the platform as a core player in the evolving decentralized finance sector.
OpenAI has launched new versions of its flagship language models, GPT-6 Sol and GPT-6 Luna, introducing substantial price reductions for developers and enterprises. With input and output rates slashed by at least half compared to the previous GPT-5.6 models, OpenAI is aiming to attract customers who increasingly evaluate models based on total task completion costs, rather than benchmark performance alone.
Major price reductions for GPT-6 Sol and LunaGPT-6 Sol now costs $2 per million input tokens and $10 per million output tokens, down from $4 and $20, respectively, for GPT-5.6 Sol. For GPT-6 Luna, the charges have dropped to $0.10 for million input tokens and $0.50 for million output tokens, compared to $0.20 and $1.20 previously. For Sol, both input and output costs are now exactly half of prior rates, while Luna’s input cost is halved and output reduced by over 58%.
OpenAI attributes these reduced rates to enhanced inference mechanisms and better caching. The company noted in its launch communication that the previous GPT-5.6 pricing was promotional, whereas GPT-6’s new rates are intended to be permanent. The GPT-6 Astra model continues as the most premium tier, set at $10 per million input tokens and $50 for output.
ModelInput ($/M tokens)Output ($/M tokens)Old InputOld OutputGPT-6 Sol$2$10$4$20GPT-6 Luna$0.10$0.50$0.20$1.20GPT-6 Astra$10$50N/AN/AMini dictionary: OpenAI, an artificial intelligence research firm based in the US, develops and licenses advanced AI models widely used in generative applications.
Recent adjustments also affected older models, with OpenAI reducing GPT-5.6 Luna’s price by 80% and GPT-5.6 Terra’s by 20%. This aggressive pricing signals that AI model providers are competing more heavily on cost than ever before.
AI providers focus on cost per completed taskOpenAI’s pricing strategy is shifting toward economic value over technical benchmarks. Business process testing at AutomationBench shows GPT-6 Sol achieved a completion score of 32.0% at a cost of $0.34 per task, while Anthropic’s Claude Opus 5.5 scored 40.0% at $1.28 per task. Despite Opus 5.5’s higher performance score, its price per task is nearly four times that of GPT-6 Sol.
GPT-6 Sol has outperformed previous Opus 5 models in the latest Agents’ exam, providing a similar level of output with a 60% lower cost per task.
Further benchmarking by Artificial Analysis shows GPT-6 Sol holds an Intelligence Index score of 48, compared to Xiaomi’s MiMo-V2.6-Pro at 46. However, the Xiaomi model remains significantly more affordable than OpenAI’s offering.
Mini dictionary: AutomationBench is a benchmarking tool that evaluates AI model performance across various business applications by measuring both task completion rate and cost efficiency.
Anthropic responds, market moves intensifyAnthropic, a leading AI competitor, launched Claude Opus 5.5 on the same day at $4 per million input tokens and $20 for output, marking a 20% reduction from the previous Opus 5. Anthropic claims this update will cut user spending by 40%, as the latest model requires fewer tokens per task.
At $2 per million input, GPT-6 Sol undercuts Claude Opus 5.5’s $4 rate and aligns with Claude Sonnet 5. The highest-priced models, GPT-6 Astra and Claude Fable 5.1, both charge $10 per million input tokens and $50 for output, according to VentureBeat.
OpenRouter has noted that DeepSeek, another AI provider, doubled its token share platform-wide to 18% by June. Chinese AI models collectively overtook their US counterparts in token share the same month. Xiaomi now offers its MiMo models under an MIT license, letting firms self-host rather than pay per token.
Mini dictionary: Anthropic, founded by former OpenAI team members, specializes in building advanced, safe large language models, most notably the Claude product line.
ProviderModelInput ($/M tokens)Output ($/M tokens)OpenAIGPT-6 Sol$2$10AnthropicClaude Opus 5.5$4$20OpenAIGPT-6 Astra$10$50AnthropicClaude Fable 5.1$10$50Cheaper tokens, rising total costsA report from Gartner projects that inference costs per agentic workflow could increase fivefold by 2028, warning that even as token prices fall, total AI spending may rise due to heightened workflow complexity.
Each successive generation of AI models will require more, and often pricier, tokens, resulting in higher overall costs.
A University of Oxford study found that quality-adjusted inference prices have dropped far faster than traditional indexes suggest. Nonetheless, as advanced models consume more tokens per task, the average buyer’s costs per completed job have stopped declining.
Lower token costs may not guarantee reduced overall AI expenses. Instead, cheaper pricing could simply encourage expanded usage and greater demand for services.
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.
Key Highlights Solana reached $117.23 on September 21, marking its strongest level since January Short sellers lost more than $18M in forced liquidations within a single day Derivatives market activity exploded with an 88.78% surge to $13.28 billion Kyle Samani from Multicoin Capital forecasts SOL surpassing ETH’s market cap this cycle Critical resistance levels to watch: $120, $125, and $130 On September 21, 2026, Solana climbed to $117.23, marking its strongest performance since the beginning of the year. This upward movement coincided with Bitcoin breaking through the $86,000 barrier for the first time in 2026, creating a ripple effect throughout digital asset markets.
Solana (SOL) Price Within a 24-hour window, SOL posted gains of 7.37%, marginally outperforming the cryptocurrency market’s overall 4.82% increase, which pushed total market capitalization to $2.88 trillion. Ethereum breached the $2,700 level while XRP recorded close to 10% gains during the same trading session.
This price surge resulted in massive forced closures of bearish positions. More than $18 million worth of SOL short contracts were liquidated in just 24 hours. The broader market witnessed liquidations totaling $900 million across leveraged positions, with $260 million in short positions closed within a single hour.
Market analyst Gerla offered an optimistic perspective on the price action, observing that SOL had undergone approximately seven days of accumulation followed by 230 days of market manipulation before entering what he characterized as the “major markup phase.” His analysis projects a $500 price target, with timing being the primary uncertainty.
$SOL just entered the phase I’ve been waiting for.
Accumulation took roughly 7 days, manipulation dragged on for nearly 230 days, and now the expansion is happening fast.
We’re now entering the major markup phase.
$500 is the target. The only question is how long it takes to… pic.twitter.com/G8TKyeJuUn
— Gerla (@CryptoGerla) September 21, 2026
Surge in Derivatives Market Activity SOL opened trading at $116.80 before touching an intraday high of $119.15. The token had established support around $108 during weekend trading before initiating its upward trajectory.
Chart indicators signal bullish momentum. The Relative Strength Index registers 65.58 with an upward trajectory. The Chaikin Money Flow indicator shows a reading of 0.30, indicating buying pressure above neutral levels and suggesting sustained market demand.
Derivatives metrics confirm the underlying strength. Trading volume surged 88.78% to reach $13.28 billion. Open interest expanded by 10% to $7.33 billion. Options volume skyrocketed 111% to $37.08 million, signaling heightened participation from short-term speculators.
Market watchers are focusing on $120 as the crucial threshold. A confirmed four-hour candle close above this level would validate the continuation of bullish momentum, with subsequent targets at $125 and $130. Downside support is identified at $114 and $110.
Multicoin’s Samani Projects SOL-ETH Market Cap Reversal The price rally coincides with growing discussion about Solana’s competitive positioning. In a recent interview, Multicoin Capital co-founder Kyle Samani projected that SOL will overtake Ethereum’s market capitalization during “this market cycle.”
Samani contended that Ethereum’s valuation is primarily supported by stablecoin usage and collateralized lending protocols. He characterized ETH as an asset with “questionable value accrual” and questioned the rationale for maintaining exposure at present price levels.
Currently, Solana’s market capitalization hovers around $58 billion, while Ethereum commands approximately $293 billion. For a market cap reversal to occur, SOL would need to appreciate roughly five-fold from current levels.
In terms of revenue generation, Solana has already surpassed Ethereum. During the past 30 days, Solana accumulated $23 million in protocol fees, securing the fourth position. Meanwhile, Ethereum generated $12.6 million, landing in sixth place, based on DefiLlama’s data.
As of September 21, SOL’s open interest totals $7.33 billion, with options open interest standing at $197.22 million.
Solana surged to $117.23 on September 21, 2026, marking its highest price since early January and setting the pace for digital asset markets during a day of broad cryptocurrency gains. This rally followed Bitcoin‘s breakthrough above the $86,000 mark — its strongest level of 2026 — sparking a wave of bullish activity across major tokens.
Price Action Triggers Major LiquidationsOver a 24-hour period, SOL appreciated by 7.37%, outpacing the overall cryptocurrency market, which advanced by 4.82% and lifted total capitalization to $2.88 trillion. During this session, Ethereum moved above $2,700 while XRP recorded gains nearing 10%.
The sharp upward momentum forced extensive closures of bearish positions in derivatives markets. In total, SOL short sellers faced over $18 million in liquidations during this window, as leverage intensified the impact of rapid price swings.
More than $900 million in short positions were closed across the entire crypto derivatives market, including $260 million in a single hour, underscoring an environment of heightened volatility and liquidation risk for leveraged traders.
Market observers attributed part of this rally to technical accumulation patterns that built up over the previous week. Analyst Gerla commented that SOL experienced seven days of accumulation, followed by a prolonged phase of market manipulation before entering what he described as a “major markup phase” aimed at much higher price targets.
Gerla identified $500 as a prospective target, cautioning that the timeline for achieving this level remains uncertain and will depend on sustained positive market momentum and further confirmation in price action.
Derivatives Activity and Key LevelsSOL opened the session near $116.80, advancing to an intraday peak of $119.15. The token established support around $108 during recent weekend trading and has since been marked by bullish technical signals. The Relative Strength Index (RSI) measured 65.58 with an upward slope, and the Chaikin Money Flow reached 0.30, indicating strong buying interest above neutral territory.
Derivatives markets echoed market strength. Trading volume jumped 88.78% to $13.28 billion, while open interest increased 10% to $7.33 billion. Options volume soared 111% to $37.08 million, reflecting active short-term speculation. Analysts pointed to $120 as the immediate resistance threshold. A four-hour candle closing above this level may validate the uptrend, setting sights on further resistance at $125 and $130. Downside support holds at $114 and $110.
Rapid developments in spot and derivatives markets have drawn closer attention to shifts in sentiment. In the meme token market in particular, technical triggers and investor positioning can amplify price movements. An example highlighted by Fomo App involves a trade in “Niu Lai” that turned $99 into approximately $370,000, underscoring the impact of timing and token selection. Fomo App combines token discovery and trading, enhanced with social feeds, rankings, and trade notifications — enabling investors to track meme token activity alongside broader market trends.
Competitive Landscape and Revenue TrendsSolana’s recent gains have renewed discussion about its position relative to Ethereum. Multicoin Capital co-founder Kyle Samani predicted that SOL will overtake Ethereum’s market capitalization during the current cycle. He asserted that Ethereum’s valuation relies significantly on its role in stablecoin transactions and lending protocols, arguing that ETH’s overall value accrual remains unclear at present levels.
Market capitalization data indicates that Solana currently stands at $58 billion compared to Ethereum’s $293 billion. Achieving a reversal would therefore require SOL to grow approximately five times from its current market value. In terms of protocol revenue, Solana collected $23 million in fees over the past 30 days, ranking fourth by this metric, while Ethereum generated $12.6 million and held sixth place, according to recent figures from DefiLlama.
Open interest in SOL stood at $7.33 billion as of September 21, with options open interest reaching $197.22 million. These figures reflect the recent surge in market participation and the elevated risk appetite among traders.
Solana‘s price approached the $120 mark as spot SOL exchange traded funds in the United States recorded 12 straight weeks of net inflows and buying from corporate treasuries added to the momentum. According to CoinGecko, SOL traded near $116.46, rising 3.3% in the last 24 hours and 15.7% over the past week.
US spot Solana ETFs post record inflowsSpot Solana ETFs in the US saw $26.1 million in net inflows on September 21, figures from SoSoValue show. Bitwise’s BSOL accounted for $14.44 million, while Grayscale’s GSOL brought in $7.8 million. This extends the inflow streak to 12 weeks, with total net inflows reaching roughly $1.44 billion and net assets at $1.74 billion by September 21.
The week ending September 18 marked the largest seven day intake yet during the streak, with $60.7 million added to Solana ETF products. ETF demand has provided consistent buying support as institutional interest for the asset grows.
Parallel to ETF activity, several publicly listed companies expanded their SOL holdings. DeFi Development Corp. announced on September 21 that it had increased its treasury by 4.24% over a week, purchasing around 101,381 SOL since September 14. Its holdings now stand at 2.49 million SOL and SOL equivalents, with the recent acquisitions valued at over $10 million thanks to continued buying and organic growth.
Forward Industries reported a far greater position the same day, with approximately 8.16 million SOL and SOL equivalents as of September 21. This represents around 1.39% of Solana’s circulating supply. Between August 4 and September 20, Forward Industries accumulated 357,000 SOL through purchases and staking rewards.
Market surge and technical breakoutSolana’s rally accelerated after moving above key resistance levels, triggering over $21 million in short liquidations within 24 hours, according to CoinMarketCap. Short liquidations require traders to buy back their positions, adding further upward pressure as SOL surged.
SOL reached an intraday high near $119 on September 21, its highest point since January, at one point gaining more than 9% in a single day. The move coincided with Bitcoin‘s recovery towards $86,000 and rising prices among major cap cryptocurrencies.
Ecosystem developments also captured investor attention. ZetaChain holders voted on September 20 to migrate the project from its Cosmos based Layer 1 to the Solana blockchain. Proposal 68 passed with 99.4% support and 58% voter participation, clearing the required quorum. ZetaChain plans to convert all native ZETA tokens to SPL tokens on Solana at a 1:1 ratio, and the project’s Anuma AI application is also set to move to Solana. According to project data, Anuma serves over 300,000 users and has handled more than 1 million requests on 35 AI models.
The approval allows ZetaChain to start transitioning its blockchain and convert ZETA at a 1:1 rate to Solana’s SPL format, with the ticker and total supply remaining unchanged. Moving Anuma AI and ZETA to Solana is expected to draw more users and activity once the migration is complete.
SOL price analysisTechnically, SOL’s price structure has strengthened since its mid-August breakout, gaining from below $80 to near $116 by late September. The most recent rally drove the coin to an intraday high at $119.48 before sellers emerged just below $120.
The 9-day simple moving average sits near $107.76, with SOL currently about 8% above this short term trend line. A pullback that holds above the $107 to $108 region would keep the price comfortably above levels that have supported the rally. The Elder Force Index, which measures buying and selling volume, has risen to approximately 7.99 million and remains strongly positive, indicating that buying activity prevailed throughout the move.
SOL trades well above its key moving averages, with the 20-day EMA at $105.45, the 50-day EMA at $96.95, the 100-day at $90.65, and the 200-day at $93.11. The $105 to $108 zone forms the first area of support if SOL pulls back from $120. A break below this could push the price towards the 50-day EMA around $97, close to the consolidation range seen earlier in September.
The 9-day Rate of Change, now at 17.06%, shows that the speed of the rally has surged as SOL approached $120. A daily close above the $119 to $120 resistance zone could open the path for moves toward $124 and then $128 to $130, matching levels reached before the January drop. Failing to hold above $120 could leave SOL exposed to the $107.76 and $105.45 supports, or eventually bring $97 back into play.
With technical indicators pointing to an ongoing breakout, monitoring market sentiment, trend indicators, and investor actions becomes increasingly important in anticipating further price movements. In the meme token market, an internet trend can transform into millions of dollars of interest within days. According to data shared by Fomo App, a trade involving “Niu Lai”—which turned an initial $99 investment into approximately $370,000, stands out as a striking example of this activity. In this market, tracking not only prices but also the timing and token choices of investors is crucial. Fomo App brings token discovery and trading together on a single platform, featuring social feeds, investor rankings, and trade notifications. Discover Fomo App to follow the world of meme tokens alongside investor activity.
Jupiter Exchange continues to hold the title of highest-volume decentralized exchange aggregator, a feat made more impressive (or more puzzling, depending on your perspective) by the fact that it only operates on a single blockchain. While multi-chain aggregators like 1inch and Jumper span dozens of networks, Jupiter has built its empire entirely within Solana’s walls.
The numbers behind the throne According to DefiLlama data from September 2026, Jupiter recorded $15.5 billion in 30-day aggregator volume. That figure puts it ahead of DFlow at $9.2 billion and OKX at $3.8 billion on Solana alone. The platform’s cumulative aggregator volume has surpassed $1.28 trillion since its October 2021 launch, routing trades across more than 20 Solana DEXs and automated market makers including Raydium, Orca, and Meteora.
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For context, Jupiter historically captured over 90% of aggregator volume on Solana. It also accounted for more than half of total DEX volume on the entire network during peak periods.
But the trajectory has shifted. By late August 2026, Jupiter’s daily share of the Solana aggregator market had fallen to 68%. On one particularly rough day, it dipped to 48%, meaning competitors were collectively handling more volume than Jupiter for the first time. OKX captured up to 37% of aggregator volume on certain days, while DFlow grabbed 13%.
A single-chain giant in a multi-chain world The claim that Jupiter is the top DEX aggregator “across all chains” deserves some qualification. Jupiter operates exclusively on Solana. It does not aggregate liquidity on Ethereum, Arbitrum, Base, or any other network. Platforms like 1inch and Jumper (built on LI.FI) cover multiple ecosystems, giving traders access to liquidity pools that Jupiter simply cannot reach.
From aggregator to DeFi superapp Jupiter has expanded into a broader suite of DeFi products, positioning itself as what the team calls a “DeFi superapp.” The product lineup now includes perpetual trading with up to 100x leverage, lending services, limit orders, and dollar-cost averaging functionality. The lending vertical has been particularly notable: deposits hit an all-time high of $2.41 billion by September 22, 2026. The JUP governance token underpins the broader ecosystem, giving holders a say in protocol decisions.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Solana now controls roughly 35% of the global tokenized equities trading volume, pulling within striking distance of Robinhood Chain’s 39% share. A few months ago, Solana owned virtually all of it.
From monopoly to market fight Rewind to Q2 2026, and Solana was processing between 95% and 97% of all tokenized equity DEX volume globally. The network racked up $5.8B in volume during that quarter alone, powered by platforms like xStocks and Backpack Securities, with Raydium serving as the primary trading venue.
The peak came in June, when the SpaceX IPO sent traders rushing to buy SPCX tokens on-chain. Single-day volumes on Solana hit as high as $644M during that frenzy, a record for tokenized stock trading on any blockchain.
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Robinhood Chain, a Layer 2 Ethereum solution, launched on July 1, 2026, with a straightforward pitch: tokenized US equities, familiar brand, and a clever liquidity strategy that paired tokenized stocks with memecoins to bootstrap trading activity. It worked. The platform quickly hit an average of $29.7M in daily tokenized stock DEX volume, at times surpassing Solana’s own venues.
By late August, Solana’s share of the global tokenized equity market had cratered to around 30%.
The bounce back September has shown signs of stabilization, with Solana recovering to approximately 35% market share.
The broader market has also expanded significantly. Weekly tokenized equity trading volumes across all platforms reached approximately $3B in August 2026. Cumulative tokenized equity volume on Solana exceeded $9.5B by late August 2026, building since mid-2025, when the first serious tokenized stock trading protocols began gaining traction on the network.
On-chain value locked across the tokenized equity sector sits in the low hundreds of millions, a figure that looks modest next to the trading volumes but represents genuine capital committed to the ecosystem rather than just passing through.
Why competition is reshaping the landscape BNB Chain has also entered the fray with bStocks, adding a third serious competitor and further fragmenting the market.
Perhaps the most consequential trend is the growing use of tokenized equities as collateral within DeFi lending and borrowing protocols.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
US spot Solana ETFs just logged their strongest single-day performance yet, pulling in $26.1 million in net inflows on September 21. Bitwise’s BSOL led the pack with $14.4 million, while Grayscale’s GSOL added another $7.8 million. The rest of the field split what was left.
That $26.1 million figure pushed cumulative inflows for the entire Solana ETF category past $1.4 billion, with combined net assets now sitting at roughly $1.74 billion.
BSOL’s staking edge keeps compounding Bitwise launched BSOL on October 28, 2025, and the product has since accumulated over $1.1 billion in cumulative net inflows. That’s approximately 80% of all money that has flowed into US spot Solana ETFs, period.
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BSOL is structured as a staking product, meaning it targets Solana network rewards on behalf of holders. Even as Grayscale, Fidelity, and VanEck have rolled out their own Solana ETF products, BSOL’s first-mover advantage combined with its staking mechanics has kept it firmly in the lead. Grayscale’s GSOL managed a respectable $7.8 million on the same day, but that still left it at barely half of BSOL’s haul.
What’s driving the broader Solana ETF wave The September 21 figures extended what has been a multi-week stretch of positive inflows into the category. Previous single-day highs had already reached $10.19 million and $33.5 million in prior weeks before the September 21 record.
The competitive landscape is getting crowded, but not evenly Bitwise, Grayscale, Fidelity, and VanEck all have products live. BSOL’s 80% share of cumulative inflows is the kind of market concentration that tends to be self-reinforcing. Larger asset bases mean tighter spreads, better liquidity, and more visibility on institutional platforms.
Grayscale’s GSOL has carved out a meaningful niche, and its brand recognition from the legacy GBTC trust gives it distribution advantages that most rivals can’t match. Fidelity and VanEck bring their own institutional relationships and distribution muscle. None of them have matched BSOL’s staking feature, and BSOL also benefited from a temporary fee waiver designed to attract new investors at launch.
If September continues at this pace, the month could meaningfully accelerate the category’s path toward the $2 billion net asset milestone.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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’s tokenized equity ecosystem just crossed a milestone that would have sounded absurd a year ago. More than 900,000 wallet addresses now hold tokenized versions of traditional stocks on the network, marking an all-time high that cements Solana’s grip on one of crypto’s fastest-growing sectors.
To put the speed of this ramp in perspective: on September 1, roughly 424,894 wallets held tokenized equities on Solana. By September 12, that figure had ballooned to 801,439. That’s an 88% jump in about a week and a half. The count then pushed past 850,000 by September 20 before breaching the 900,000 threshold.
What’s actually being traded
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On Solana, the biggest holder magnet is NVDAx, a tokenized version of NVIDIA shares issued through xStocks. Other popular tickers include SPYx (tracking the S&P 500 ETF), TSLAx, and AAPLx. The appeal is straightforward: global access to US equities without needing a traditional brokerage account, plus the composability benefits of having these assets live natively on a blockchain.
The total supply of tokenized equities on the network hit $684 million by mid-September, a 47% increase in just three weeks. Meanwhile, real-world asset volume flows tied to Solana totaled $3.3 billion over the trailing 30-day period.
New listings have been a consistent catalyst. Tokenized Nike shares recently went live, and Galaxy Digital launched an issuer-direct option, giving users another on-ramp into the space.
The infrastructure behind the surge
xStocks serves as one of the primary issuers, creating the tokenized versions of traditional equities that trade on-chain. Backpack Securities, backed by Kraken, provides regulated brokerage infrastructure. And Jupiter, Solana’s dominant DEX aggregator, acts as the distribution layer where most of these tokens actually change hands.
Solana currently captures between 85% and 95% of all on-chain tokenized equity activity across every blockchain network.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Per GMGN market data, Solana ecosystem meme coin Super Inu rallied over 300% in a short period, with its current market cap standing at $7.23 million. Issued on the Stonk platform, Super Inu draws inspiration from former US President Trump’s push to rename artificial intelligence (AI) as "Super Intelligence". It is paired with tokenized US stock Nvidia, built on the Backed Finance/xStocks framework. Trump announced in his recent UN General Assembly speech that he intends to rename AI to "Super Intelligence", and all US government documents will use the term "Super Intelligence". BlockBeats cautions users that related tokens have small market capitalizations, high price volatility, and early holders have already reaped substantial profits, so there may be considerable selling pressure in the short term. Users are advised to exercise caution when investing.
Solana (SOL), the blockchain platform designed for high-speed decentralized applications, has seen considerable volatility in recent weeks, with price action drawing attention from traders across multiple time frames. After a period of stagnation, SOL has entered a phase of sharp movements, prompting technical traders to closely monitor key liquidity levels and structural shifts on both daily and intraday charts.
The daily structure and breakout zonesFrom June through late August, Solana traded within a narrow range, oscillating between $72 and $80. This consolidation persisted until the start of September, when bullish momentum propelled the asset to $120 on September 22. The rally followed sustained defense of the $76 level, which buyers protected on multiple occasions over the summer after Solana marked a local low near $60 in June.
Current technical analysis identifies strong demand between $76 and $81, a zone that sparked the September rally and coincides with the July high at $84.50. Once the price closed above this resistance, the level shifted to support. Analysts also point to a persistent rising trendline connecting the June low, August’s bottom, and the breakout candle, which continues to attract buyer support.
Analysts have highlighted, “Pullbacks that respect the rising trendline and support zones suggest daily structure continues to favor buyers if these levels hold.”
Intraday levels: Four-hour and one-hour chartsZooming into the four-hour time frame shows September 16 as a significant swing low at $96, marking the beginning of Solana’s recent breakout. After establishing support there, SOL broke through $115, and then posted a new high above $120 in the days that followed.
A local order block between $107 and $109.50 has emerged as the last supply zone tested before the move into $118-$120. Should the current pullback continue, this range serves as a potential area for buyers to step in and reassess momentum.
Shifting further into the one-hour chart, the critical reversal occurred when price swept $107.90 on September 20, triggering stops below the earlier range low. Solana then quickly moved above $112 and cleared $115.80 before hitting $120, followed by a series of lower highs. Market participants interpret this as an early sign of changing momentum, though confirmation will depend on how price interacts with key support zones.
Liquidity map and support zonesLiquidity data from CoinGlass, a platform known for tracking crypto derivatives statistics, confirms that substantial short positions have accumulated just above the $120 mark on the Binance SOL/USDT perpetual contract. This aligns almost exactly with daily buy-side liquidity clusters.
Mini dictionary: CoinGlass, a crypto analytics platform, tracks liquidation heatmaps which show where large numbers of leveraged positions could trigger volatile moves if breached.
If Solana tests the $120 zone again, these clustered short positions could trigger rapid price movement, potentially fueling further upside. A similar setup appeared on XRP’s liquidity map, where mapped pools coincided with subsequent price action.
Risks for the current uptrendOn the one-hour chart, the support range at $115 to $116.80 is crucial for maintaining the overall bullish outlook. If SOL holds this zone, analysts believe the positive momentum remains intact across daily, four-hour, and hourly time frames.
A breakdown below $112, however, would shift focus to the next support range between $107 and $109.50. A daily close under $108 could threaten the summer-long trendline, signaling a deeper reversal.
Time FrameKey SupportKey ResistanceDaily$76 – $81, $84.50$1204-Hour$107 – $109.50$115, $1201-Hour$115 – $116.80$120Analysts have cautioned that shifting macro sentiment, including recent initiatives like Coinbase opening IPO access to retail traders, could influence broader market conditions as much as individual chart patterns. Rapid reversals remain possible due to the dynamic nature of liquidity and sentiment in crypto markets.
Market watchers note that “setups like this can change quickly, and levels above current price will be decisive for short-term direction.”
TLDR SOL hit the $117 breakout target flagged by analyst Bitcoin Meraklisi, with $141 and $176 as next levels to watch. Analyst LAR7Crypto closed a trade at $110.60 and expects a possible pullback before another push toward $120. US spot Solana ETFs saw $47.62 million in net inflows on September 18, all from Bitwise’s BSOL fund. SOL derivatives volume jumped 73.61% to $12.95 billion, while open interest rose 8.17% to $7.2 billion. DeFi Dev Corp. added 101,381 SOL to its treasury, growing its total holdings to about 2.49 million SOL. Solana’s price has reached a key technical level this week. The token climbed to $117, a target first outlined by crypto analyst Bitcoin Meraklisi.
“The breakout added 58% in gains, with another 18% coming from the retest,” Bitcoin Meraklisi wrote in a post on X. He said the next levels to watch are $141 and then $176, if $117 holds as support.
Traders are now watching whether SOL can turn $117 into a support floor. A hold above this level would keep the bullish path open. A rejection could send the token back into a consolidation range.
Solana Price on CoinGecko SOL Faces a Separate $120 Target From Another Analyst A second analyst, LAR7Crypto, has been tracking a different SOL setup. He reported that the token hit his final target of $110.60, and that his trade position is now fully closed.
“I expect a short-term pullback before another attempt at $120,” LAR7Crypto said in his post. He added that the response to any retracement will show whether the bullish structure stays intact.
This gives traders two separate price maps to watch. Bitcoin Meraklisi’s path points toward $117, then $141 and $176. LAR7Crypto’s path points toward a pullback zone, then $120.
Derivatives data adds more context to the current move. Coinglass figures show SOL trading volume rose 73.61% to $12.95 billion. Open interest also increased 8.17%, reaching $7.2 billion.
The rise in both volume and open interest points to more traders holding larger positions. This can make price swings larger in either direction as SOL approaches resistance.
ETF Flows and Treasury Buying Add to the Picture US spot Solana ETFs also saw fresh inflows this week. SolanaFloor reported $47.62 million in net inflows on September 18, all coming through Bitwise’s BSOL fund.
“Solana ETFs continue to see steady demand from investors,” SolanaFloor noted in its post sharing the data. The firm has also tracked SOL’s decentralized exchange volume, which has led all Layer-1 and Layer-2 networks for 21 straight weeks.
Treasury accumulation is another factor in play. DeFi Dev Corp. said its SOL holdings grew 4.24% in one week after buying 101,381 more tokens.
“Our total treasury now sits at approximately 2.49 million SOL and SOL equivalents,” the company wrote in its update on X. This adds to a broader pattern of corporate treasuries holding SOL.
None of these factors guarantee a price move on their own. But together, they show rising activity across trading, ETFs, and corporate holdings.
For now, $117 and $120 remain the two levels traders are watching most closely. The $47.62 million in ETF inflows from September 18 is the latest confirmed figure tied to institutional demand for SOL.
The tokenized real-world asset market added roughly 1.8 million holders in a single month, pushing the total to over 4.5 million, a 66% jump in 30 days, according to data from rwa.xyz. Yet the total value locked across the sector slipped just 0.37% over the same period, settling at $38.47 billion. Rapid adoption and steady capital are rarely seen together, making this a notable divergence worth watching.
Tokenized Stocks and Network RankingsAmong asset classes, tokenized stocks posted the strongest gain, rising 14% to $3.0 billion across 4,584 assets. The category has been gathering momentum throughout 2026. US Treasuries, however, remain the undisputed anchor of the space, described by BeInCrypto research as the only tokenized asset class to reach production-grade maturity, tracked across roughly $60 billion in RWAs spanning more than 7,000 products and 12 asset classes. In the current snapshot, US Treasury products hold the top position at $14.8 billion.
On the network side, @solana gained 10% to reach $4.3 billion in tokenized value, moving firmly into third place. @ethereum and @BNBCHAIN both held higher positions but recorded small losses over the period. Solana's rise follows a broader strategic push by issuers to expand onto the network. WisdomTree (@WisdomTreeFunds), for example, announced an expansion to Solana in January 2026, enabling both retail and institutional investors to access its tokenized funds through the WisdomTree Connect and WisdomTree Prime platforms.
WisdomTree Leads Issuer GrowthAt the issuer level, WisdomTree was the standout performer, jumping 57% to $1.3 billion in tokenized assets under management. That growth reflects a broader acceleration at the firm. Digital assets generated $98 million in net inflows in Q1 2026, primarily into its tokenized money market fund, with digital assets AUM reaching a record $867 million at March 31, 2026. The firm has since continued scaling its multi-chain, multi-product tokenization platform. WisdomTree has said the early growth curve of tokenized real-world assets exceeds the early ETF adoption of the 1990s, and it is looking to expand adoption of its total tokenized product lineup further, including gold, equities, and more.
The broader RWA sector continues to attract new entrants at pace. Chainalysis data show that RWAs have become a key on-chain asset class for new ecosystem entrants, with a spike in Ethereum wallet addresses created specifically to hold tokenized assets throughout late 2025 and early 2026, suggesting that for this cohort, RWAs are the primary reason to come on-chain. Whether that translates into sustained capital inflows, or whether the holder count continues to outrun asset values, is the question the market will answer in the months ahead.
Sources:
WisdomTree Monthly Metrics, March 2026 (WisdomTree Investor Relations)
WisdomTree Expands Tokenization Ecosystem to Solana (WisdomTree Investor Relations)
Tokenized RWAs and On-Chain Commodities (Chainalysis)
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Halloween Mask (HMASK), a Solana-based meme coin inspired by the RuneScape nostalgia, recently came into the spotlight after seeing strong price action that attracted the attention of one of the crypto industry’s analysts, Jacob Crypto Bury.
Jacob, who is very popular on Discord and YouTube, spoke at length about the token in a series of posts on X, highlighting it as an asset to keep an eye on and potentially the best crypto to buy now.
The token exploded 1430% on the daily timeframe to hit the $0.0001 level, easily making it one of the strongest gainers in today’s broad-based rally
At the same time, its market cap has surged from $10k to $148k at press time, delivering nearly 14x returns to early buyers.
Jacob feels HMASK’s performance is a signal that the RuneScape meme coin narrative remains alive ahead of a new bull market.
GM crypto😎
20X for early buyers – INSANE
Woke up and saw $HMASK absolutely flying today, what a surprise!
Spotted this gem at $5-10k MC and naturally with a meme coin you get sceptical for a while
The RuneScape meme coin narrative remains strong @HMASKonchain is rallying… pic.twitter.com/AD58Q0MquH
— Jacob Crypto Bury (@BuryCrypto) September 21, 2026
What is Halloween Mask? Halloween Mask is a meme coin that draws its identity from RuneScape, a gaming culture known for its deep-rooted nostalgia and iconic virtual economy.
This narrative has existed for decades before meme coin projects began to adopt it, tapping into its established internet community to gain traction.
So, it’s clear that much of Halloween Mask’s popularity comes from this phenomenon.
And like many other RunScape-themed meme coins such as $GNOME, $GP and $BOND, $HMASK doesn’t promise any practical utility.
Rather, its value is heavily influenced by social media trends and community sentiment.
One more unique advantage is that the project is built entirely for holders – no team allocation at launch, no dev buy.
The official mint and every market move are public on Solana, an attribute that has helped broaden its appeal within the investing community. Its contract address is EPJQWq9AUPsAEnT9ZU1vdj7mk1woAHt4QwaYdZLoPprb.
Halloween Mask Price Prediction Halloween Mask has been on fire today, registering some of the strongest bounces amid the broad-based rally.
It is currently trading at $0.0001, up by 138% on the four-hour timeframe.
The meme coin’s recent rally is marked by soaring token holders and heavy whale investment. According to data from Birdeye, it boasts 428 holders at press time, an impressive figure for a relatively new token.
A breakout above its current level could pave the way for new highs. A rejection could result in more downside volatility, which could offer a better entry point for sidelined investors.
Unsurprisingly, prominent analysts are optimistic about its prospects. Popular Discord analyst Jacob Bury projects that the meme coin could be a top project to watch in 2026, considering its relatively small market cap.
All eyes will also be on Bitcoin, which has already crossed the $87k level and is targeting $90k. In the event that it sustains its bullish trajectory, there is a strong possibility that Halloween Mask will hit the $500k market cap milestone before the end of September.
What this means is that new buyers at today’s price would see 8x returns on their investments, which underscores its attractiveness to whales and retailers alike.
Given Halloween Mask’s potential for growth in terms of value, it could be listed as the best crypto to buy now, particularly for short-term returns.
Smart money investors could also bet on other high-potential low-caps, out of which Bitcoin Hyper stands out.
A high-performance Layer-2 network, this project seeks to tackle the network congestion issues on Bitcoin without sacrificing security.
So far, it has raised nearly $35 million in its ICO, thanks to continuous investments from both short and long-term investors.
Crypto experts believe it is highly undervalued during its presale and could offer substantial returns when it eventually arrives on exchanges.
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