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U.S. spot Bitcoin exchange-traded funds (ETFs) recorded significant outflows this month, marking a notable shift in sentiment among crypto investors. Data from Decrypt’s ETF tracker shows these funds faced back-to-back redemptions, including a $484.9 million exit on Wednesday, their steepest daily withdrawal since June.

Bitcoin ETFs reverse course in OctoberDespite a brief recovery with $21.1 million in inflows on Friday, U.S. spot Bitcoin ETFs finished the first seven trading days of October with a net outflow of $386.3 million. The modest gain failed to compensate for large withdrawals earlier in the week, particularly following Wednesday’s sizable exit and an additional $244.1 million lost on Thursday.

Bitcoin ETFs provide a way for investors to participate in the digital asset market without directly holding cryptocurrencies or managing private wallets. The products mirror the price of Bitcoin and are traded on regular brokerage platforms, attracting both institutional and retail investors since their debut.

October began on a positive note, as the ETFs attracted a combined $292.6 million on the first two days. Another $118.8 million flowed in on October 6. However, these early inflows were overshadowed by the subsequent downturn, erasing previous gains for the month.

ETFOctober Net FlowsLargest Single-Day OutflowCumulative Net InflowsTotal Net AssetsBitcoin-$386.3 million-$484.9 million (Wed.)$57.6 billion$100.6 billionEthereum-$635 million-$201.9 million (Oct. 6)$13.2 billion$14.5 billionSolana-$24.8 million-$3.8 million (Fri.)$137.9 millionNot disclosedETF flows reflect shifting investor sentimentAfter a strong September, the landscape changed abruptly. In mid-September, following the U.S. Senate’s failed cloture vote on the Clarity Act, Bitcoin ETFs experienced a series of outflows. However, they quickly rebounded with nine straight sessions of inflows totaling roughly $3 billion, which returned year-to-date figures into positive territory for 2026.

Flows in and out of crypto ETFs have become a reliable gauge of market sentiment, as they reflect the willingness of investors to take on or shed digital asset exposure through regulated investment vehicles.

However, the reversal so far in October suggests caution and profit-taking may be returning to the market as uncertainty persists around regulatory and macroeconomic developments.

Ethereum and Solana ETFs deepen lossesEthereum ETFs have recorded a more severe downturn. The funds posted a $56.1 million outflow on Friday, extending their loss streak to nine consecutive trading days in October. During this period, cumulative withdrawals reached nearly $700 million, with the largest single-day loss of $201.9 million taking place on October 6. Despite these losses, Ethereum ETFs still hold $14.5 billion in total net assets and have attracted $13.2 billion in net inflows since their introduction.

Solana ETFs also faced negative flows this month, though on a much smaller scale compared to Bitcoin and Ethereum. Outflows for Solana ETFs totaled $3.8 million on Friday, the fifth straight day of net redemptions. The funds’ only inflow for October, $1.3 million, occurred on October 2. Overall, Solana ETFs have lost $24.8 million so far this month, while cumulative net inflows since launch stand at $137.9 million.

Solana, a blockchain known for its fast transaction speeds and lower fees compared to some other networks, continues to attract investor attention through ETF products, but recent flow data suggests more caution among holders.

Bitcoin ETFs, despite recent negative momentum, remain the largest by net inflow at $57.6 billion since launch and currently manage $100.6 billion in assets.

Mini dictionary: Cloture vote — A cloture vote is a procedure used in the U.S. Senate to end debate on a legislative issue and bring it to a final vote. Reaching cloture usually requires a supermajority, which can be a significant hurdle for passing contentious bills.

Over the last few days, momentum across the broad crypto market has turned extremely bearish and Solana has also had its share of the downturn.

Amid the sudden market volatility, Solana and other major crypto assets have continued to record notable sell-off activity. Whale Alert has showcased data for one of such transactions, which may have just been a massive whale sellout.

Solana demand stallsAccording to the data, an unknown address has moved a total of 470,087 SOL worth over $51 million at Solana's current price to leading U.S. crypto exchange Coinbase.

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The large Solana transaction, which happened in a single transfer, did not go unnoticed, especially considering its timing, drawing attention from market analysts.

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Although the intention behind the transfer was not stated, market participants perceive the move as an attempt to sell, as tokens are often transferred to trading platforms like Coinbase for selling purposes.

The timing of the transfer also stirred speculation that the trader may be exiting the market out of caution amid the ongoing market volatility.

Solana remains under $110Despite surging to a high of around $123 earlier this month, momentum in the Solana ecosystem has weakened significantly after its price suddenly saw a sharp downturn, causing it to fall as low as $105 about two days ago.

Since this massive price drop, Solana has continued to trade below the $110 mark, as the sudden price reversal has stirred fear among traders who have continued to exit their positions.

While the market has continued to see large and small amounts of Solana returned to exchanges, Solana's chances of reclaiming its recent highs keep getting slimmer.

Circle has reportedly minted approximately 750 million USDC on the Solana blockchain within the past 24 hours, according to data shared by @SolanaFloor. This minting activity suggests an increase in USDC liquidity on Solana, a network that has become the second-largest holder of USDC by supply. As of early October, Solana had about $7.3–$7.45 billion in native USDC, highlighting the significance of this recent mint. While this increase in stablecoin reserves on Solana could indicate potential demand for the network’s native token SOL, it remains uncertain whether this newly minted USDC has been actively circulated or deployed in markets. The information comes from a Tier 3 social media source, which may impact its reliability.

Key Takeaways The minting of 750 million USDC on Solana appears to suggest increased liquidity on the network. Market pricing implies that participants may view this development as supportive of a potential increase in SOL demand. While the minting is significant, it is unclear how much of this USDC will enter active circulation. What to Watch Observers will be monitoring how the newly minted USDC impacts Solana’s economic activity, particularly whether it translates to increased demand for SOL. Key developments could include announcements from Solana Labs regarding new projects or partnerships that leverage this liquidity. Additionally, any regulatory changes or shifts in the broader cryptocurrency market could influence Solana’s price movements. Market participants are also likely to watch for any significant changes in decentralized-exchange volume and active addresses on the Solana network.

Term Structure

Contract Odds Δ since publish Volume 24h November 1 2026 1.1% — — View market → November 1 2026 8.5% — — View market → November 1 2026 15% — — View market → November 1 2026 5% — — View market → November 1 2026 0.5% — — View market → November 1 2026 1.2% — — View market → November 1 2026 2.3% — — View market →

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Solana is about to halve its block times as final 200-millisecond upgrade nears. (Solana)Summary

Solana plans to reduce its target block time from 250 milliseconds to 200 milliseconds at epoch 1053 on Friday, completing a series of cuts from 400 milliseconds since August.The upgrade will create five block-production opportunities per second, potentially speeding transaction updates, while lowering each block’s computing limit to keep overall processing capacity roughly unchanged.Faster blocks could reduce transaction delays and trading exploits, but they will increase validator voting demands, strain network connections and shorten the validity window for transactions.Solana is preparing to cut the time between blocks to 200 milliseconds on Friday, completing a series of upgrades that has halved the network's target block production time since August.

The final reduction, from 250 milliseconds, is scheduled to take effect at epoch 1053, expected around 15:00 UTC, according to Anza, the developer of Solana's widely used Agave validator software.

The change would allow the blockchain to target five block-production opportunities every second, compared with 2.5 under the original 400-millisecond configuration.

A slot is the short window in which a designated validator can add transactions to the blockchain. Shorter slots mean trading applications, wallets and exchanges can receive updated information more frequently, reducing the time a submitted transaction may spend waiting to be processed.

The changes began Aug. 21, when Solana moved to 350 milliseconds, followed by reductions to 300 milliseconds on Aug. 28 and 250 milliseconds on Sept. 18.

The technical proposal, known as SIMD-0525, also limits how much computing work validators can pack into each block.

At 200 milliseconds, each block can carry a maximum of 30 million compute units, down from 37.5 million at 250 milliseconds. Blocks arrive more frequently, but each carries proportionally less work, keeping the network's theoretical processing capacity roughly unchanged.

Read More: Solana transactions just got more than 3 times bigger, narrowing the gap with Ethereum

Validators will continue producing blocks in groups of four consecutive slots. Their uninterrupted window to order transactions will consequently shrink from 1.6 seconds under the original configuration to 800 milliseconds.

That could reduce opportunities to delay transactions or exploit prices that have moved on other exchanges before Solana catches up.

The faster clock also comes with costs. Validators that submit votes on every slot will need to do so about twice as frequently as under the original configuration, increasing voting expenses and placing greater pressure on network connections.

Wallets and other applications also have less time to use a recent blockhash, a reference included in transactions to prevent them from being replayed. The shorter validity window could complicate transactions requiring manual approval or offline signatures.

Actual network performance remains a testSolana Compass data shows the previous 250-millisecond configuration delivered average slot times of approximately 266 to 269 milliseconds across recent epochs, slightly slower than its target.

The final reduction has already been deployed on Solana's testnet and devnet. Developers have said the mainnet rollout depends on network conditions, particularly the rate at which validators miss their assigned block-production opportunities.

The transition is expected to occur at the epoch 1053 boundary on Friday.

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.

Ethereum Foundation researcher Justin Drake has urged the crypto industry to start preparing for what he calls “bunker mode,” arguing that rapid advances in AI-driven mathematics could threaten cryptographic systems sooner than the industry expects.

In an October 7 post, Drake recommended a controlled migration of assets to fresh addresses whose public keys remain hidden behind hashes. He specifically urged large holders to consider moving funds to addresses that have never signed transactions and to move remaining funds whenever they sign a transaction.

He warned that the industry should consider the possibility that ECDSA could become breakable within “months, not years,” potentially through classical computing rather than quantum computers.

His argument rests on recent advances in AI for mathematics. Drake pointed to breakthroughs involving problems such as integer multiplication, 3SUM, and the Erdős unit distance conjecture as evidence that AI could uncover mathematical shortcuts that humans have missed.

He argued that elliptic curves deserve particular scrutiny because of their mathematical structure and suggested that the industry should accelerate its move toward hash-based cryptography.

Vitalik Takes the Warning Seriously Ethereum cofounder Vitalik Buterin pushed back against the idea that users should immediately scramble to move their funds, but he agreed that AI-driven advances in mathematics deserve serious attention.

Buterin argued that the industry should consider AI vulnerability alongside quantum vulnerability. He also questioned the assumption that lattice-based cryptography will remain safe simply because elliptic curves face greater scrutiny today.

The programmer still warned users against rushed migrations, warning that he had “lost more money in botched migrations than I have lost in all hacks combined.” He later clarified that multisig users should ideally change signing keys after each operation while continuing to gather signatures offchain where possible.

Not Everyone Sees an Emergency The response from cryptographers has been sharply divided. Yehuda Lindell, head of cryptography at Coinbase, called Drake's argument a bad take, saying that there is currently no evidence that decades-old assumptions behind elliptic curve cryptography have failed.

Lindell argued that AI proving difficult mathematical theorems does not show it can solve problems like elliptic curve discrete logarithms. He also noted that a genuine break of elliptic curve cryptography would create consequences far beyond crypto, affecting bank websites, financial systems, software signing and other internet infrastructure.

Longtime Ethereum developer and researcher Dankrad Feist made an even more direct point. If attackers can immediately compromise any exposed public key, he argued, moving funds into protected addresses wouldn't necessarily save them because the underlying assets could lose all value.

Dragonfly managing partner Haseeb Qureshi took the opposite view, describing Drake's warning as a sober response to rapid mathematical progress and suggesting the industry should temporarily adopt a more defensive approach.

How Much Cryptography Could AI Already Be Hiding? The discussion has also shifted toward a harder question: how many novel attacks on cryptography could already exist but remain undisclosed?

Responding to a question about how many such attacks might emerge, Matthew Green, an associate professor of computer science at Johns Hopkins University, raised an even broader concern, saying he thinks the industry could “lose public key cryptography,” particularly public-key encryption.

Solana cofounder Anatoly Yakovenko pushed back on that premise, arguing that AI will not simply solve discrete logarithms, prime factorization, or the P ≠ NP conjecture, but could instead uncover vulnerabilities in specific curve parameters or groups.

That distinction sits at the heart of the debate. AI could potentially discover weaknesses in how cryptographic systems are implemented without overturning their underlying mathematical assumptions.

Solana Says Its Design Offers “A Defined Path Forward” Solana Foundation VP of Technology Jacob Creech rejected the need for Justin Drake’s proposed “bunker mode” on Solana.

Creech argued that Solana's use of Ed25519 gives users a different recovery path if an attacker eventually breaks the underlying elliptic curve. The signing key derives from a secret seed through hashing, while the seed itself never appears onchain.

According to Creech, a network upgrade could let legitimate owners prove knowledge of their seed with a hash-based proof and migrate their accounts to a safer signature scheme. In the unlikely event of a break in Solana’s cryptography, validators, not users, would be responsible for upgrading infrastructure to ensure continuity. Creech also stated that “a working proof of concept already exists”, pointing to Anza’s Proof of Knowledge Seed protocol.

Helius CEO Mert Mumtaz similarly urged users not to follow Drake's recommendation, arguing that careless fund movements could create a more immediate risk than an overnight cryptographic breakthrough.

A Crypto Problem or an Internet Problem? The debate ultimately extends far beyond Bitcoin, Ethereum, or Solana. If AI genuinely discovers an efficient way to break widely used public-key cryptography, the consequences would reach banking, brokerage platforms, payment networks, TLS, software updates, and other critical internet infrastructure. 

However, centralized companies and institutions could potentially respond faster to any threat.  Blockchains face a tougher challenge because decentralized networks need coordination and consensus to make fundamental changes. That makes having a contingency plan before such a scenario emerges particularly important.

Solana already has one. Its Ed25519 design allows users to prove control of their underlying seeds and migrate to a safer signature scheme through a network upgrade, with a working proof of concept already available.

There is currently no public evidence that AI has broken ECDSA or another major cryptographic hardness assumption. In a recent tweet, Solana cofounder Anatoly Yakovenko described the panic as “fear based on uncertainty from smart people unable to predict the future,” but urged developers to ship post-quantum cryptography solutions.

For now, the argument centers on how seriously the industry should prepare for a possibility that researchers cannot rule out but also cannot demonstrate.

Read More on SolanaFloor Securitize Launches Tokenized Stocks on Solana Ahead of 24/7 ICE Venue Listings
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Solana (CRYPTO: SOL) briefly processed more trades than the NYSE in September, according to Citrini Research, as tokenized stocks and real-world assets push deeper into traditional finance.

Why Citrini Says Crypto Finally Found Its PurposeCitrini Research wrote in a Thursday note that crypto spent 15 years building programmable financial infrastructure without a clear use case, until AI agents and tokenized assets gave it one. 

The firm argues that as AI agents increasingly manage money and make decisions on behalf of users, financial assets need to become machine-readable and transferable the same way consumer data already has.

The inflection point traces back to March, when the Iran conflict escalated over a weekend and Hyperliquid as measured by Hyperliquid Strategies (NASDAQ:PURR) became one of the only liquid venues where traders could price crude oil in real time. 

Since then, Citrini says tokenized real-world asset adoption has moved into a much higher gear.

How Robinhood, Coinbase and US Regulation Are Shaping Tokenized Stock TradingCitrini pointed to two forces accelerating the move on-chain:

Composable tokenized equities: Robinhood (NASDAQ:HOOD) Chain’s stock tokens let tokenized shares move freely between apps and blockchain rails, rather than staying locked inside a single issuer’s platform, and that model has since spread to more chains Regulatory momentum: two days after the CLARITY Act failed in the Senate, the SEC issued an innovation exemption opening a path for tokenized stock trading, while Coinbase’s (NASDAQ:COIN) proposed US stock perpetual futures product sits with “approval pending” status at the CFTC Which US Stocks Is Securitize Bringing to Solana?Securitize announced Thursday, according to WSJ, that it’s bringing 12 major US stocks onto Solana through a new product called Securitize Stocks. The initial lineup includes:

Apple (NASDAQ:AAPL) Nvidia (NASDAQ:NVDA) Tesla (NASDAQ:TSLA) Microsoft (NASDAQ:MSFT) Trading starts on Securitize’s existing Solana platform, with Jump Trading providing liquidity and settlement happening in USDC (CRYPTO: USDC). 

Securitize plans to expand the stocks to NYSE’s planned 24/7 digital trading platform and the upcoming OKX-ICE Tokenized Securities Venue, a joint venture between NYSE parent Intercontinental Exchange and OKX.

Each token stays backed one-for-one by an actual share and preserves shareholder benefits like dividends and voting rights, according to Securitize CEO Carlos Domingo.

Photo via Shutterstock

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Solana Price fell 3.35% to $113.76 over the past 24 hours as weakness spread across the cryptocurrency market. The Samsung Wallet will launch international USDC transfers on Solana later this month to eligible American users.

The overall value of cryptocurrency markets fell 1.45% to a value of $2.8 trillion as institutional ETF purchases were reversing, further pressuring the market. 

Bitcoin price fell to below $83,000, with XRP at less than $1.40 and Ethereum at $2,533.

Samsung Partners With Solana for Global USDC Transfers The Samsung Wallet application will introduce international transfers of USDC to eligible Galaxy users in the United States. Samsung collaborates with Solana to back the service, which is set to be introduced in the last week of October.

According to the announcement of the companies, the rollout is over 82 million compatible Galaxy devices. Samsung Wallet allows users to send money without having to download cryptocurrency apps.

🚨BREAKING BIG: @Samsung, the world’s largest smartphone maker, partners with @Solana to bring cross border $USDC transfers to Samsung Wallet on 82M Galaxy devices in the U.S., starting from the last week of October. https://t.co/aUVryO6bOX

— SolanaFloor (@SolanaFloor) October 8, 2026

The transfers will also be sent to the appropriate bank accounts in over 60 countries. Local currency can be received by recipients, and additional market development is contingent on regulatory demands.

Will Solana Price Hold $110 Support Level? The SOL crashed to $113 on October 8 after losing support at $115. The action followed a reversal of a withdrawal out of the $120 zone in which Solana price had been trading in early October.

The fall is after a recovery in September that saw SOL rise out of below $100 toward a high of about $124. 

The relative strength index was at 25.63, which indicated weakness in the momentum. That puts the indicator in oversold territory, which traditionally starts below 30.

SOL/USDT 4-hour chart: TradingView The Chaikin Money Flow indicator recorded -0.21, which is a negative value, indicating selling pressure over the period measured.

The provided analysis shows that the closest support is the $112, and a strong four-hour close below this level is important. A pause like this would reinforce the bearish view and place $110 as a potential psychological downside target. Further weakness may prolong the trend towards the previous consolidation level at $108.

The first step in a recovery would be to regain $115 and retain that level as the Long-term SOL projection. That would put into focus the next upside target of $120 as the main resistance level.

Solana ETFs Record $4.8 Million in Outflows on October 7 According to SoSoValue, the Solana ETF market experienced net outflows of 4.8 million on October 7. The BSOL of Bitwise included all the withdrawals, whereas the other listed funds had no net flows.

SOL ETF The total net assets were at 1.85 billion, which is equivalent to 2.71 of Solana market capitalization. The total amount of trading was $84.65 million, and net inflows since inception were 1.59 billion. BSOL was the largest listed fund with a value of 1.29 billion.

In brief Decrypt Money Accounts are now live on Solana, with balances in USDT and sponsoring gas for a seamless user experience. One balance funds Earn, Swaps, Predictions and Perps, with no bridging or per-product deposits, and users can deposit funds using virtually any payment method. The platform is self-custodial: Decrypt does not hold private keys and cannot transact on a user's behalf. Decrypt Money Accounts are now live on Solana, giving readers a single self-custodial balance that works across everything Decrypt builds, as it continues to roll out the infrastructure underpinning its financial and intelligence market The Information Exchange.

“Our goal is simple: one account, one balance, and access to every financial instrument, directly from where you already consume information,” said Ilan Hazan, co-founder of Decrypt. “From prediction markets to perpetual futures and swaps, users will be able to manage all their positions in one place, without worrying about wallets, bridges or chains. We're working with leading protocols to make this possible, with partners to be announced in the coming weeks.”

Decrypt Portfolio – Prediction MarketDeposits and balances are held in USDT on Solana, with one balance funding every product on Decrypt: Earn, Swaps, Predictions and Perps, with Decrypt Takes and more to follow. Gas and rent are sponsored through fee-payer co-signing, so there is no need to hold SOL or to think about network fees at all. A user who deposits funds can start using the wallet immediately.

Decrypt Money Accounts are self-custodial, meaning that Decrypt does not hold private keys and cannot perform actions on anyone's behalf. Private key export is coming shortly, after which they can be used with any Solana wallet software.

Solana Dashboard – DecryptCross-chain activity is handled underneath. Myriad Predictions markets settle on BNB Chain, for instance, but a user trades them from the same Solana USDT balance without touching a bridge or a second network.

Existing Myriad Wallet users can start using Decrypt Money Accounts immediately. The wallet that powered Myriad Predictions becomes Decrypt Money Accounts, so one account and one balance now cover both Decrypt and Myriad, with no migration required.

Decrypt Portfolio – SwapsThe platform is the rail beneath The Information Exchange, the financial and intelligence market built atop Decrypt, Myriad and the upcoming MYR token. Decrypt is the information layer; Myriad is the infrastructure that connects what readers learn to what they can act on, and MYR serves as the shared economic coordination layer atop Solana.

The Information Exchange is built around subjects, assembling reporting, data, prices and probabilities in one place, and the instruments attached to them are set to widen from prediction markets to spot, perpetual futures, structured event products and more. New features will be launched over the coming weeks, in a staggered rollout running into Solana Breakpoint.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Solana now has more stablecoin holders than ever. As of October 7, 2026, more than 14.02 million unique addresses on the network held stablecoins, an all-time high.

At the end of 2024, that figure sat under 4 million.

The numbers behind the milestone The latest data shows Solana added more than 4 million new stablecoin holders since the start of the year. Over a longer window, the network gained more than 10 million holding addresses in less than two years.

Total stablecoin supply on Solana is now above $15 billion. Stablecoins are tokens pegged to a fiat currency, usually the US dollar. They are the rails that let people move dollars on a blockchain without riding crypto’s price swings.

In September, stablecoin supply on Solana hit a record $17.3 billion, which made it the third-largest blockchain by stablecoin supply. Only Ethereum and Tron ranked higher.

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So the dollar value on the network has eased from that peak, even as the number of holders keeps climbing.

Spending is growing too. Cumulative transaction volume on stablecoin-linked cards has passed $1 billion. These cards let users spend stablecoin balances at ordinary merchants.

A settlement standard with Wall Street fingerprints The holder milestone landed one day after a notable infrastructure release. On October 6, 2026, the Solana Foundation unveiled an open-source Delivery-versus-Payment framework, known as DvP.

In a DvP trade, the asset and the cash change hands at the same moment, or neither does. Solana’s version handles that swap atomically and through escrow. Atomic here means the transaction either completes in full or fails in full. The framework is built to settle tokenized assets and cash in seconds.

J.P. Morgan contributed to the standard, helping shape it around institutional settlement requirements. The target use cases include tokenized stocks, funds and other real-world assets.

From DeFi playground to payments network For most of its history, Solana has been known as a hub for decentralized finance, or DeFi. That means trading, lending and yield strategies run by smart contracts rather than banks.

Rising holder counts and card spending suggest growing retail and payment use. The DvP framework is aimed at enterprises and institutions that want to move tokenized real-world assets with less risk.

What this means for Solana and its rivals More addresses holding stablecoins means more people interacting with Solana, and that activity could translate into higher demand for SOL, the network’s native token. Users need SOL to pay transaction fees, so broader usage ties back to the token at a basic level.

Holder counts measure addresses, not people, and one user can control many addresses. The drop in supply from September’s $17.3 billion peak to just above $15 billion is also worth tracking.

Solana sits behind Ethereum and Tron by stablecoin supply. Ethereum remains the default home for institutional DeFi, while Tron has carved out a large role in dollar transfers.

There are clear things to watch from here. First, whether stablecoin supply resumes its climb toward the September record or keeps drifting lower. Second, whether institutions actually build on the DvP framework. Third, whether card volume keeps compounding past the $1 billion mark.

Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.

TLDR SOL is currently trading around $121, maintaining support above its 20, 50, 100 and 200-day exponential moving averages. Both daily and weekly timeframes identify $125 as critical resistance that could determine the next directional move. Chaikin Money Flow on the daily chart registers 0.23, indicating consistent accumulation. Total value locked in Solana’s DeFi ecosystem increased from approximately $5.6 billion to $6.7 billion during the September-October period. Derivatives open interest has surged past $7 billion, with significant liquidation zones concentrated around $115 and $125. Solana was changing hands at $121.44 as of Oct. 6, registering a modest 0.55% gain in the preceding 24-hour period. The digital asset has been range-bound for multiple trading sessions following a strong rebound in September.

Solana (SOL) Price Daily price action saw SOL reach an intraday peak of $122 before pulling back to a low of $118.88. This tight corridor has persisted for several days, with the late-September high establishing the immediate price ceiling.

From current levels, SOL remains approximately 3.5% beneath the $125 threshold highlighted on weekly charts. Reaching $150 would necessitate a rally of roughly 24% from present valuations.

Daily technical indicators show SOL maintaining a position above its 20-day EMA at $116.39 and 50-day EMA at $106.76. The longer-term 100-day and 200-day EMAs are positioned further below at $97.77 and $96.60 respectively.

Weekly Chart Highlights $125 as Critical Decision Point Analysis of the weekly TradingView chart identifies $125 as the primary pivot point according to the Murrey Math indicator. SOL was quoted at $120.77 on the weekly timeframe, hovering just beneath this crucial level.

The subsequent Murrey Math resistance is located at $156.25, representing the upper boundary of the established trading channel. On the downside, the corresponding support floor stands at $93.75.

The weekly Average Directional Index registered 30.21. This metric quantifies trend intensity rather than trajectory, providing no inherent bullish or bearish signal for October.

Market analyst Wealthmanager observed on X that SOL appears to be forming a contracting triangle pattern, characterized by descending highs and ascending lows compressing the trading range. The analyst noted that while no breakout has materialized, the setup suggests a significant move may be approaching.

$SOL is forming a tight triangle.

Price is making lower highs and higher lows as the range gets smaller.

No breakout yet. The next move could be close. pic.twitter.com/7akdUNGIXl

— Wealthmanager (@Wealthmanager) October 6, 2026

DeFi Metrics and Derivatives Interest Show Sustained Growth DeFiLlama statistics reveal that total value locked across Solana’s DeFi protocols expanded from approximately $5.6 billion in early September to roughly $6.7 billion by early October. Decentralized exchange volumes and active wallet counts remained robust throughout this interval.

According to CoinGlass tracking, Solana’s aggregate open interest in derivatives markets has pushed above the $7 billion threshold during this timeframe. Both long and short positions have experienced liquidations as SOL fluctuates near the $121 mark.

The one-month liquidation heatmap from CoinGlass reveals concentration zones between $115 and $116 beneath current pricing. Additional liquidation bands are visible near $112 and within the $104 to $105 range.

Source: Coinglass On the upside, the heatmap displays notable clusters between $123 and $125, with further accumulation near $126 to $127. These zones align closely with the weekly $125 pivot level.

The daily Supertrend indicator continues to flash green at $107.22, sitting approximately 11.3% below current market price. SOL has maintained its position above this dynamic support throughout recent consolidation.

Technical charts mark $113.05 as the primary support threshold on daily timeframes. A breakdown below this level could redirect attention toward the lower exponential moving averages.

Network performance metrics have also shown improvement. The Solana Foundation disclosed that mainnet slot times achieved 250 milliseconds on Sep. 18, with a planned reduction to 200 milliseconds targeted for epoch 1052.

Price Drop Does Not Dent ActivityThe Solana meme coin category fell roughly 6% on October 7, 2026, yet the session told a more complicated story beneath the headline loss. According to CoinGecko data cited by @BSCNews, the category still recorded more than $7.2 billion in 24-hour trading volume, a figure that underscores how much speculative appetite remains even during broad price declines. The category-wide correction brought the total market cap to approximately $3.59 billion, yet high trading volume across top assets held firm.

Among the heaviest traded tokens on the day were solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv and solana:6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN, both of which retained meaningful liquidity despite the market-wide pullback. Major assets like PENGU and TRUMP led the volume charts despite significant price retreats across the board.

Pumpfun Token Extends RecoveryThe standout performer in the session context was solana:pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn, the native token of the Pumpfun launchpad, which has gained roughly 60% over the past 30 days from its mid-year lows. PUMP has managed to reverse its 2026 losses and booked a significant gain after a surge in the last 30 days, with the Solana-based launchpad continuing to capture significant volumes as traders return to speculate on meme coins.

Pumpfun reclaimed its launchpad crown and became the first application in Solana's history to cross $1 billion in lifetime revenue, a milestone that has supported sentiment around the token. When launchpad share climbs, buyback capacity climbs with it, because Pumpfun funds its PUMP purchases directly from fee income, and during its last recovery push the platform ran daily buybacks of at least $1 million.

Despite the positive momentum, risks are building. Reports point to rising liquidation pressure as broader meme coin sentiment faces headwinds. Pumpfun faces launchpad competition, volatile meme coin demand, execution risks, and regulatory scrutiny. The token's rally also faces a looming threat from expired vesting schedules for both the development team and existing investors, which could introduce fresh selling pressure if holders choose to exit. Traders watching the space should weigh strong on-chain volume against these structural overhangs before drawing conclusions about the durability of the current bounce.

Sources:
CoinGecko: Solana Meme Coins Category
Yahoo Finance: Pump.fun PUMP Reverses Downtrend After 200-Day EMA Breakout
Phemex: Why PUMP Token Is Rallying as Pumpfun Reclaims Solana

Buying a Ferrari usually takes a waiting list, a serious bank balance and a fair amount of patience. Owning a sliver of the company behind the cars now takes a Solana wallet.

Tokenized shares of Ferrari NV, trading as $RACE, are now available on Solana through the Sunrise asset gateway, with Backpack as the issuer. The launch took effect October 6, 2026. It adds one of the most recognizable luxury brands to a growing shelf of onchain equities.

How the $RACE token works Each $RACE token is backed 1:1 by an actual Ferrari share held in regulated custody. Backpack Securities serves as the issuer, and holders can redeem their tokens back into traditional stock entitlements through Backpack Securities.

The token’s contract address is RACEyWiM2ztEZcJx2AHXU2eWjhxU57x3vXn92b39dLD. Checking that string before buying is the simplest way to confirm you are holding the genuine article.

Sunrise handles distribution. The gateway is designed to plug tokenized stocks into wallets and decentralized exchanges, or DEXs, which are trading venues where users swap tokens directly without a traditional broker in the middle.

Supported venues include Phantom, Jupiter and Raydium. Trading runs 24/7. The tokens are built to be eligible for dividends and corporate actions.

From SpaceX to supercars Ferrari is not the first big name to arrive on this rail. The $RACE launch is tied to an ongoing partnership that started with tokenized SpaceX shares in June 2026.

Backpack Securities aims to expand the number of tokenized stock symbols on Solana from the current 200 toward a goal of 10,000.

What this means for investors and Solana Several things are worth watching from here. First, whether $RACE builds meaningful trading activity on Solana DEXs, since a token with thin volume offers little of the promised liquidity.

Second, how smoothly redemption through Backpack Securities works in practice. The 1:1 backing is the foundation of the product, and confidence depends on the ability to convert tokens back into stock entitlements when holders want to.

Third, how dividends and corporate actions get passed through to token holders. Fourth, round-the-clock trading creates a practical puzzle: when the underlying market is closed, the token keeps trading, so how closely its price stays aligned with the real share during those hours will be a revealing test of the model.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

DeFi Development Corp., a Nasdaq-listed digital asset investment firm, has authorized an open-ended plan to repurchase all outstanding and future CHAD preferred shares. The company, which focuses on blockchain-based investments, said it may use this buyback authority if CHAD trades below its $10 par value, but currently has no immediate plans to initiate any purchases.

Open-ended buyback authorization for CHADChief Executive Joseph Onorati emphasized that management’s main objective is for the CHAD security to stabilize at its $10 par value before considering any buybacks. The company views the authorization as a strategic capital allocation tool that can be deployed if market conditions warrant.

This move comes amid strong growth in decentralized exchange volume across the Solana blockchain, further spotlighting the role of Solana in DeFi environments.

Management aims to support CHAD’s establishment around its $10 par value, keeping the buyback authority ready as a future option if the preferred shares dip below that level.

The buyback authorization is separate from DeFi Development’s existing $300 million at-the-market CHAD program, which is designed to raise capital by selling CHAD shares. The company has reiterated that proceeds from CHAD sales will continue being used to expand its Solana (SOL) treasury position. On October 1, DeFi Development paid the first dividend to CHAD holders, marking a significant milestone in the launch of this preferred equity instrument.

The stated purpose for issuing CHAD remains unchanged: to generate funds for additional Solana acquisitions. The buyback program does not impact the ongoing strategy of using CHAD proceeds to further accumulate SOL.

Solana treasury expansion and financial updateDeFi Development reported preliminary third-quarter results indicating a considerable increase in its Solana treasury. Over the past week, the company’s SOL holdings reached approximately 2.56 million, while net asset value per share more than doubled. The company revealed that its approach involves tying capital-raising activities associated with CHAD directly to ongoing Solana reserve expansion.

Management regards CHAD as a long-term capital source rather than a single fundraising event. The flexible structure of the buyback program allows leadership to react to future market pricing and CHAD’s position relative to par value.

Mini dictionary: Preferred shares are a special type of equity security that receive priority for dividends and have a fixed par value, but usually carry no voting rights. They are often structured to appeal to institutional or long-term investors seeking stable returns alongside exposure to company performance.

MetricPrevious WeekCurrent WeekSolana Treasury Holdings (SOL)~2.53 million~2.56 millionNet Asset Value Per Share–More than doubledCHAD Par Value$10During Tuesday’s trading session, DeFi Development (DFDV) shares advanced by about 3.3%. This gain came after the company released its preliminary third-quarter update and reported growth in Solana holdings.

DeFi Development belongs to the small group of publicly traded companies that use crypto assets, such as Solana, as significant components of their treasuries. The ongoing expansion of Solana’s institutional settlement network is also drawing renewed attention to digital asset treasury strategies.

The CHAD repurchase framework offers an additional method for the company to manage its preferred equity. Investors are closely monitoring CHAD’s trading levels relative to the $10 par value and whether DeFi Development will eventually use the authority for buybacks. The open-ended nature of the authorization means it covers both existing and future CHAD shares without a set timeframe.

Solana has kicked off Q4 in a way that has put the spotlight back on the SOL/ETH ratio.

Technically speaking, SOL/ETH closed Q3 nearly 6% lower, showing that Ethereum significantly outperformed Solana in the last quarter. Whereas SOL returned 60%, ETH delivered 73% ROI, meaning that in FOMO fashion, Ethereum currently has the stronger setup heading into Q4.

But Solana’s latest on-chain activity suggests the gap might be beginning to close. According to Blockworks data, Solana has kicked off Q4 processing more spot DEX volume than Ethereum mainnet, all of Ethereum’s L2s and Hyperliquid combined. In figures, that means Solana processed over $1.6 billion in spot DEX volume, up more than 50% on Ethereum.

Source: Blockworks As a critical metric of on-chain activity, the early divergence could set up a stronger SOL/ETH setup in Q4.

The reasoning behind this is simple: Higher DEX volume is an indicator of increased activity on the Solana blockchain, which could lead to higher demand for the network, thereby giving SOL more room to appreciate against ETH. Interestingly enough, the liquidity setup is already starting to support this thesis.

According to RWA Foundation, stablecoin market cap across the top 10 chains grew by $815.7 million in the last 24 hours. Solana alone captured nearly 50% of that growth, adding $378.1 million. For SOL, that fresh liquidity could fuel even more capital into the ecosystem, giving its DEX a further boost as Q4 begins.

The key takeaway? One sector could already be pointing to where this liquidity and rising DEX activity are heading. So, if Solana [SOL] continues to capture a larger share of this activity, it could serve as the next catalyst for SOL to gain ground over Ethereum and potentially set the stage for a SOL/ETH breakout.

Can tokenization give Solana the edge over Ethereum? In a recent post, Solana highlighted a development that caught the market’s attention.

Nasdaq listed it, Solana moved it.” A drone defense company had more trading volume on Solana than its home exchange while Fiserv plugged in 90+ banks and credit unions. Solana also posted $365 million in Q3 app revenue, its tenth consecutive quarter leading the pack in crypto-native assets.

According to AMBCrypto, the main takeaway is that a Nasdaq-listed company saw more volume on Solana than its home exchange, signifying that tokenized assets are the driving force behind the network’s growth, with the tokenized stock trading volume on Solana crossing a record $4.4 billion in September.

Source: X While Ethereum [ETH] still holds dominance in the wider RWA space, Solana’s Q3 momentum in the tokenized stocks and real-world use cases arena is helping to close the gap. If the trend continues, the increased level of tokenization activity could provide Solana with a key catalyst for capturing more on-chain volume and potentially narrowing the gap with Ethereum in Q4.

In this regard, the fact that Solana kicked off October by outperforming Ethereum in terms of DEX volume could be seen as a precursor to the on-chain dominance of SOL, which could eventually lead to a breakout of the SOL/ETH pair above the 0.05 resistance level.

Final Summary Solana’s on-chain activity is picking up, giving SOL a chance to catch up with ETH in Q4. Growing tokenization could be the key catalyst, potentially helping SOL/ETH break above 0.05.

September 2026 marked another major month for tokenization across the Solana ecosystem. Tokenized equities reached new highs in supply, holders, and trading volume, while regulatory developments in the United States created a clearer pathway for certain onchain securities markets.

Tokenized commodities, funds, deposits, digital infrastructure, and real-world assets all gained momentum. Here is everything you might have missed:

September 1: Tokenized Equity Supply Reaches $780.5 Million Solana started the month with a new milestone for tokenized equities. Tokenized-equity supply on the network reached a record $780.5 million on September 1, according to Blockworks data. The figure marked another step in the rapid expansion of stock-based assets on Solana.

September 2: SHEIN Arrives Onchain SHEIN, one of the world's largest online fashion retailers, debuted on the Hong Kong Stock Exchange and became available as a tokenized stock on Solana through xStocks on the same day.

The launch provided another example of tokenization following traditional market events in near real time. The development also expanded the geographic range of equities available through Solana's tokenized stock ecosystem.

September 11: Solana Launches Stocklana Solana launched Stocklana, a dedicated hackathon focused on tokenized equities.

The initiative offered more than $100,000 in prizes to developers building stock-focused products on Solana. The competition ran from September 11 through September 25.

On the same day, tokenized $GRND stock on Solana reached approximately $31 million in trading volume less than 24 hours after launch. That figure nearly doubled the company's approximately $16.6 million NYSE trading volume from the previous day and exceeded its roughly $25 million average daily volume.

September 14: Africa's Largest IPO Comes to Solana NectarFi launched the Dangote Petroleum Refinery and Petrochemicals IPO on Solana through its partnership with GetEquity.

The offering is Africa's largest public share offering and gives investors access through stablecoin subscriptions. Investors can participate with a minimum purchase of ₦10,000, about $7.50.

September 14: Kraken Brings Yield to Tokenized Stocks Kraken launched xStocks Vaults with Veda, Kamino, and Sentora.

The product lets users deposit $SPYx, $QQQx, and $NVDAx and earn yield.

September 16: Project Harmonia Opens Applications Project Harmonia opened its formal application process for tokenized funds, distributors, and ecosystem participants.

The initiative connects Allfunds' institutional fund distribution network with Solana's onchain infrastructure. Allfunds connects more than 3,300 asset managers and financial institutions and has approximately €1.9 trillion in assets under administration.

Through Harmonia, eligible tokenized funds on Solana can seek access to Allfunds' institutional distribution network, while funds already available through Allfunds can become accessible through Solana.

September 17: SEC Opens a Pathway for Tokenized Stocks The U.S. Securities and Exchange Commission approved a temporary, conditional Innovation Exemption for certain tokenized stock trading activities.

The framework allows permissioned Tokenized Securities Venues to facilitate trading in certain National Market System stocks through automated market makers and liquidity pools without falling under the traditional definition of an exchange.

The exemption creates a 5-year window for eligible venues to test onchain securities markets under defined conditions. The decision marked one of the year's most significant regulatory developments for tokenized equities.

September 18: Dawn Tokenizes Digital Infrastructure Cash Flows Dawn Internet launched its USD.infra Vault to connect eligible non-U.S. participants with real-world digital infrastructure.

The product links stablecoin liquidity with AI compute and wireless connectivity network deployments. The model aims to connect capital formation with the development and expansion of physical digital infrastructure.

September 23: NYSE Explores 24/7 Tokenized Markets Blockchain and the New York Stock Exchange announced a partnership to explore global, 24/7/365 trading of tokenized U.S. stocks and ETFs.

The initiative could eventually provide more than 44 million Blockchain users with access to tokenized securities through the NYSE's planned digital alternative trading system.

September 23: Solana Passes 1 Million Tokenized Equity Holders Solana surpassed 1 million tokenized equity holders for the first time.

The network currently boasts almost 1.3 million tokenized equity holders.

September 24: UK Banks Complete Tokenized Deposit Transaction Lloyds, NatWest, and Barclays completed the world's first interbank transactions using blockchain-based tokenized deposits, while HSBC and other banks also tested peer-to-peer payments.

The banks used tokenized deposits in 2 mortgage transactions, demonstrating how blockchain infrastructure could support settlement between regulated financial institutions.

September 28: Raydium Surpasses $6 Billion Stock Trading Volume Raydium crossed $6 billion in cumulative tokenized stock trading volume.

The milestone followed the protocol's rapid expansion throughout the year as tokenized equities became a larger part of decentralized market activity on Solana.

That same day, Solana overtook Robinhood to become the No. 1 blockchain for weekly tokenized commodities spot trading volume for the first time.

September 29: Metaplex Introduces a Permissioned RWA Standard Metaplex introduced MPL-3643, a new standard for permissioned real-world assets and tokenized securities on Solana. The standard gives issuers compliance controls, including transfer restrictions, lockups, verified-wallet access, and jurisdictional limits.

The framework addresses a central challenge facing tokenized financial assets: combining the composability of blockchain infrastructure with the regulatory requirements that govern securities and other restricted assets.

Memestocks also gained momentum in September, with Super Inu ($SI) becoming a notable example. The memecoin, paired with tokenized Nvidia stock ($NVDAx), reached a $60.9 million market cap after President Donald Trump's push to use "Super Intelligence" instead of "Artificial Intelligence" created a direct narrative around the token. $SI surged nearly 130% on September 29 and briefly became StonkFun's largest memecoin by market cap.

Broader Trends: Tokenized Markets Continue to Scale September's developments point to several broader trends across Solana's tokenization ecosystem.

Tokenized equities continued to dominate activity. Solana recorded approximately $4.25 billion in tokenized equities spot trading volume during September, while tokenized commodities generated approximately $264.6 million in spot volume.

Allium data also showed that holders across RWA products on Solana increased 5x over the past year, with tokenized stocks accounting for 98% of the increase since April. The growth suggests that equities have become a major driver of participation in Solana's broader RWA ecosystem.

Tokenized equities also began developing their own communities. Vida Global CEO Lyle Pratt commented on the emerging memestock trend around tokenized equities, noting that communities built around pairs involving tokenized stocks can create places where shareholders organize and develop new experiments.

Vida Global subsequently embraced its tokenized VIDAx stock on Solana with an investor page tracking holders, trading volume, onchain activity, and the amount of stock locked in liquidity pools.

Vibhu, speaking on SolanaFloor's Big Picture livestream, described the tokenization supercycle as both real and global. 

He argued that traditional financial institutions can take 2 years to move a project from its initial development into production, meaning much of today's institutional experimentation may only begin showing its full impact over the next several years.

September therefore represented another step in the transition from isolated tokenized assets toward broader onchain capital markets. Regulatory frameworks, institutional distribution networks, traditional exchanges, and onchain liquidity venues increasingly worked toward the same objective: making financial assets available through programmable, continuously accessible digital infrastructure.

With tokenized equity supply reaching $780.5 million at the start of the month, more than 1 million holders by September 23, and billions of dollars in monthly spot volume, Solana's tokenization market continued to move from an emerging use case toward a more established segment of digital financial infrastructure.

Read More on SolanaFloor Federal Judge’s Dismissal Closes Door on $LIBRA, $M3M3 Saga
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Solana App Revenue At Bull Run Levels, Is $SOL Next?

In brief DeFi Development Corp. added about 26,203 SOL between Sept. 28 and Oct. 2, lifting holdings to 2,564,212 SOL and SOL equivalents, per an 8-K filed Oct. 5. The gain is roughly half the 47,706 added the prior week and about a quarter of the 101,381 added the week ending Sept. 18. The company says its treasury is up 11% since Aug. 12 and values it at $302 million, and it paid the first 13% dividend on its CHAD preferred stock on Oct. 1. DeFi Development Corp., a Financial services and asset management company known in the crypto ecosystem for having the second biggest Solana holdings in the world, just added 26,202 SOL, worth roughly $3 million, to its treasury. The funds came in between Sept. 28 and Oct. 2, according to an 8-K, the form public companies file to disclose significant events.

The Nasdaq-listed company, ticker DFDV, now holds 2,564,212 SOL and “SOL equivalents,” a term the filing doesn’t define. It values the pile at $302 million. That’s a 1% increase from the 2,538,010 it held on Sept. 25.

Myriad: Where does Solana go next? Click to make your prediction.The pace with which the company is adding to its coffers is cooling. DFDV added 101,381 SOL in the week ending Sept. 18 and 47,706 SOL the week after.

CEO Joseph Onorati framed it differently in the company’s press release. “The DFDV ship is flying at lightning speed. We have continued buying SOL and have grown our treasury by 11% since August 12,” he said.

Lightning speed, in this case, was roughly half the previous week’s pace.

DFDV is what’s known as a digital asset treasury company, a business whose main strategy is piling up one cryptocurrency on its balance sheet. It applies the approach Michael Saylor’s Strategy popularized with Bitcoin to Solana, and it runs its own validators, the computers that help run the network and earn rewards. For shareholders, the appeal is exposure to SOL through a regular brokerage account.

DFDV pitches itself as a bigger swing on Solana. In an August release, Onorati said the company is designed to give investors magnified exposure to SOL. In practice, that means moves in SOL’s price are supposed to hit the stock harder, in both directions.

The company sells CHAD, a preferred stock—shares that get paid dividends ahead of common stock—to raise money that its prospectus says will go partly toward buying SOL. CHAD has a stated amount of $10 and currently pays 13% a year, or $1.30 per share, according to the release. Its board can adjust that rate, per the same prospectus.

The company also set up a $300 million at-the-market program, a way to sell new shares over time at market prices, per the release.

On Sept. 1, the company was offering 2.2 million shares of CHAD at $9, a deal that could raise $19.8 million. The IPO priced two days later at 1,375,000 shares and $8 each, for about $11 million. Against a treasury the company values at $302 million, that’s a small slice.

DFDV also issued preliminary third-quarter estimates as of Sept. 30, not final results. It said SOL per share and total SOL grew by double digits since Aug. 12. Net asset value per share—what’s left for each common share after subtracting debts and preferred stock from holdings and cash—grew more than 100%.

The company was known as Janover, a commercial real estate platform, until its 2025 pivot. In May 2025, it held nearly 600,000 SOL. It now holds more than four times that.

The DAT model, though, has a catch. Treasury firms grow by selling shares at a premium, meaning more than the tokens behind each share are worth, and history has proven that growth stalls when shares fall below that value. By December 2025, many firms’ shares had slipped below the value of their crypto holdings, Strategy’s included.

The company has declared CHAD dividends of $0.00516 per share for each business day through Oct. 30.

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The canonical version of Shiba Inu (SHIB) has officially launched on the Solana blockchain, marking a significant expansion of one of Ethereum’s largest assets. This rollout, driven by the Sunrise bridge, resulted in a swift and measurable financial uptick for SHIB’s price and ecosystem.

Following the announcement, TradingView data showed the RSI indicator forming a bullish divergence, suggesting strong upward momentum. SHIB rebounded from a local low near $0.000055, rising to test resistance zones at $0.0000588 and $0.0000598. The token recorded a 3.89% daily gain and 2.69% weekly increase amid a surge in liquidity.

SHIB’s rapid rise was attributed to the cheaper trading routes available on Solana, with transaction fees averaging just 0.000005 SOL, a level seen as highly attractive for retail traders compared to Ethereum’s often higher costs.

Despite the token’s migration to a new chain, the original supply of SHIB as an ERC-20 asset remained unchanged, preserving its integrity for existing holders.

Cross-chain technology boosts momentumSunrise, a protocol focused on bridging major assets from Ethereum to Solana, previously demonstrated the market potential of such transfers. Two weeks earlier, the canonical PEPE token debuted on Solana through the Sunrise infrastructure, with immediate effects. In the first 48 hours post-launch, PEPE increased 5% to 8%, moving beyond its established price range of $0.0000036 to $0.0000038.

Within days, a surge in buying activity triggered a short squeeze, liquidating over $2 million in short positions on PEPE. At the rally’s peak between September 21 and 22, PEPE reached values between $0.0000051 and $0.0000054, representing a 40% gain since the beginning of the month and sending its market capitalization above $2 billion.

Although the price corrected in October to the $0.0000043–$0.0000045 range, PEPE maintained gains well above its levels prior to Solana integration.

Mini dictionary: Sunrise bridge – A protocol enabling the migration of major digital assets, such as SHIB and PEPE, from Ethereum to Solana, facilitating cross-chain liquidity and lowering transaction costs.

TokenIntegration DateInitial Price RangePeak Price Post-Integration% GainShort Positions LiquidatedPEPESeptember 18$0.0000036–$0.0000038$0.000005440%$2 millionSHIBSeptember (exact date not specified)$0.000055 (local low)$0.00005983.89% (daily)Not reportedBroader effects on Solana ecosystemSunrise deploys tokens using the Wormhole NTT standard, which allows instant, integrated access to Solana’s core platforms such as the Jupiter aggregator, Raydium decentralized exchange, Phantom wallet, and Kamino DeFi protocol. This move is reshaping trading patterns on Solana, increasing competition for liquidity and attention among native projects.

The influx of high-profile tokens with large investor communities has led to shifts in trading activity. For instance, BONK, a Solana-native token, experienced a decline in trading volume following delistings from several Asian exchanges and the arrival of major Ethereum assets via Sunrise.

Members of the SHIB community have described this expansion as opening a “second front,” emphasizing continuity with their slogan “Different chain. Same dog.”

Security reminders amid increased activityThe enthusiasm around SHIB’s Solana debut has also brought challenges, as fake liquidity pools appeared on decentralized exchanges. SHIB’s development team urged traders to use only the verified contract address: shib5gSoVKPjwkXrxRk7SbQFzb2R9rQB3TgQWYX4RwW, in order to avoid scams and counterfeit assets.

Tokenized stocks on Solana have racked up $12.4 billion in decentralized exchange trading volume so far this year. Raydium accounts for the biggest share, at $6.1 billion.

The numbers behind the surge
In Q2 2026, Solana recorded $5.8 billion in tokenized equity DEX volume, a 114% jump from the prior quarter.

That same quarter, Solana captured approximately 95% of global on-chain equity DEX trading.

September 2026 alone produced $4.4 billion in tokenized stock DEX volume on Solana, with Raydium and Orca handling the flow.

Raydium has become the default venue for this activity. In recent snapshots, it routed over 90% of Solana’s tokenized stock DEX flows, and its cumulative volume in the category passed $5 billion by mid-September.

Through mid-September, Raydium processed about $2.3 billion in tokenized stock volume during Q3 2026. That works out to a 40% increase over the previous quarter.

Across all blockchain networks, tokenized stocks generated $48.7 billion in volume over the preceding 12 months, and Solana’s share often tops 95% during peak trading windows.

Tokenized equities have also claimed over 4% of total DEX spot volume in 2026.

How xStocks built the on-ramp
Much of this growth traces back to one product: xStocks, built by Backed Finance. Each token is backed 1:1 by an equity held with a custodian.

By September 18, 2026, xStocks had surpassed $6 billion in cumulative Solana trading volume.

That figure represents 54% of all tokenized stock volume in Solana’s history.

Traditional stock markets keep business hours, while DEXs run 24/7, so a trader can react to news on a Saturday night instead of waiting for Monday’s opening bell.

Regulation and rivals enter the frame
The growth has coincided with a shifting regulatory backdrop. A recent SEC innovation exemption is designed to make compliant on-chain trading easier.

Solana is not the only chain chasing this market. BNB Chain has its own bStocks offering, and Robinhood Chain is also competing for on-chain equity traders.

What this means for traders and the market
Raydium handling over 90% of flows in recent snapshots and xStocks owning 54% of historical volume make the ecosystem efficient, but also dependent on a small number of players.

The custody model deserves attention too. Tokens backed 1:1 by custodied shares are only as reliable as the custodian and the issuer behind them, so traders are taking on counterparty considerations that do not exist when owning a stock directly.

Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.

Ondo’s tokenized asset growth is shifting from a single-network model toward a broader distribution of liquidity.

Although Ethereum [ETH] remains at the core of the platform with a value of $2.1 billion, this represents only 52.37% of the total and therefore implies that concentration is easing.

The most notable example is Solana [SOL]. Tokenized assets have now surpassed $456.7 million on Solana, an increase of 60.32%, or approximately $147 million, over the past 30 days. Meanwhile, BNB Chain has increased to $429.7 million, representing an increase of 19.15%.

Source: RWA.xyz This increase in tokenized assets increases the number of ways that Ondo can distribute its tokenized product offerings to other users. Also, there are currently 521,028 token holders transferring $2.38 billion per month.

Source: RWA.xyz This indicates that these assets are being transferred into circulation as opposed to simply being created.

As adoption grows, the current $3.89 billion asset base of Ondo will be distributed among many networks and no longer rely solely on Ethereum.

Solana leads tokenized-equity lending Tokenized equities are moving beyond simple ownership as users begin putting them to work in on-chain credit markets. Solana is at the forefront of this evolution, as over $20.7 million worth of tokenized stock is being utilized as collateral via Kamino.

As such, it appears many of these users are seeking to utilize liquidity locked up by their equity holdings but avoid liquidating their equity exposure. On the other hand, Ethereum has $5.8 million in tokenized stocks serving as lending collateral through Euler and Morpho.

Meanwhile, Robin Hood Chain has produced just under $2 million in additional supply also via Morpho.

Source: X The large disparity illustrates that lending is still in its infancy and unevenly distributed among various networks. However, the fact that this functionality exists represents a significant expansion of tokenization.

Additionally, if adoption of lending grows, then tokenized equities will likely be given greater utility, which will drive even greater demand for on-chain collateral.

Tokenized stocks test credit demand Tokenized equities now face a test of whether lending protocols can manage their risks without limiting adoption. On Aave [AAVE] V4’s Equities Hub, collateral factors range from 65% to 79%, forcing borrowers to maintain buffers before liquidation.

Source: Aave Governance However, these constraints create a measurable path for growth. Rising collateral deposits and USD Coin [USDC] borrowing would show stronger credit demand.

Meanwhile, limited liquidations would indicate that risk controls remain effective as activity expands across tokenized stocks.

Final Summary Ondo has expanded its $3.89 billion tokenized asset base across multiple networks. Tokenized equities are gaining credit utility as Solana leads on-chain collateral activity.

Image credit: Powerus.

On Thursday, Powerus became a public company on Nasdaq.

By Friday, its shares were on Solana.

The sequence captures two technological shifts that initially seem unrelated.

Powerus is building autonomous drones and counter-drone systems intended to move humans farther from the physical point of danger. At the same time, tokenized equities are beginning to move investors beyond the traditional brokerage infrastructure through which public stocks have historically been held and traded.

In both cases, more of the execution layer is moving into software.

Powerus completed its merger with Nasdaq-listed Aureus Greenway Holdings on October 1. Legacy Powerus shareholders emerged with roughly 83% of the common stock and approximately 93% of the combined company’s voting power, effectively transforming the listed entity into Powerus Corporation. (Thaler)

One day later, Backpack Securities issued a tokenized representation of PUSA on Solana through Sunrise. Each token is designed to be redeemable 1:1 for an underlying Powerus share and transferable back into traditional brokerage infrastructure for eligible investors. (Solana Compass). As of 2:45pm on the day of release $PUSA has reached $9.1m in trading volume.

Powerus announced on X: “We’re now live on Solana. $PUSA is our common stock onchain, redeemable one to one for the Nasdaq-listed share.”

We’re now live on Solana.

$PUSA is our common stock onchain, redeemable one to one for the Nasdaq-listed share, trading nights, weekends and holidays.

Powerus (@powerus_usa), October 2, 2026

Powerus did not issue a cryptocurrency, and PUSA on Solana is not a corporate memecoin.

The underlying asset remains a Nasdaq-listed security.

What changed is the rail on which it can travel.

The battle-tested brain behind the machine That distinction between the physical asset and the intelligence controlling it also sits at the center of Powerus’ business.

The company isn’t positioning itself merely as another drone manufacturer. It is building autonomous aircraft, counter-drone interceptors and the command software connecting them.

Drone airframes are becoming increasingly commoditized. Motors, batteries, cameras and other components can come from a growing collection of suppliers.

The potentially more defensible layer is the intelligence deciding what those machines see, how they coordinate and what they do next.

Powerus’ xNav AI architecture is designed to combine data from radar, visual sensors and other sources into a common operating picture, identify threats and coordinate autonomous systems.

In that sense, Powerus has built the battle-tested brain behind the machine: so the person behind it never has to be in the line of fire.

The background of co-founder and president Brett Velicovich helps explain why that philosophy runs through the company.

Velicovich served as a U.S. Army Special Operations intelligence analyst from 2001 to 2010, completing six combat tours in Iraq, Afghanistan and Somalia. According to Powerus’ SEC-filed biography, he worked within America’s covert drone program tracking high-value terrorist targets. He later wrote Drone Warrior, an account of his experience with military drone operations, and earned an MBA from Duke University’s Fuqua School of Business. (SEC)

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His relationship with drones didn’t end with the military. Velicovich subsequently applied the technology to wildlife conservation in Kenya and other humanitarian work. He was also in Ukraine within days of Russia’s full-scale invasion, where he saw firsthand how inexpensive drones and rapid battlefield iteration were changing modern warfare. He has said Powerus’ founders ultimately came together through their experience in Ukraine. (LinkedIn)

That gives Powerus an unusual founding perspective: not simply engineers asking what autonomous systems can do, but operators thinking about what someone in the field actually needs them to do.

The company’s Guardian counter-drone system, for example, is designed to intercept hostile UAVs before they reach personnel or critical infrastructure. Powerus reports an approximately 89% interception success rate per launch in manual and semi-autonomous operations, although that remains a company-reported figure rather than an independently verified government statistic.

Its subsidiary Tandem Defense has also secured a U.S. Air Force IDIQ contract for Guardian-2 with a ceiling of up to $90 million through mid-2028. The ceiling is not guaranteed revenue, but it gives Powerus a vehicle through which the government can place future orders.

Going public is intended to give the company more capacity to pursue that scale.

“Completing this transaction puts Powerus in a position to build at the scale our customers are asking for,” CEO Andrew Fox said following the merger. (Nasdaq)

For Powerus, that means more manufacturing, more autonomous systems and potentially more acquisitions.

For investors, however, what happened immediately afterward may prove just as interesting.

From a Florida golf company to Nasdaq: and Solana Powerus took an unconventional route to the public markets.

Aureus Greenway Holdings originally operated two Florida golf courses and completed its own Nasdaq IPO in February 2025. By late 2025, the small public company was evaluating strategic alternatives.

It ultimately became Powerus’ route onto Nasdaq.

The merger was announced in March, Aureus adopted the PUSA ticker ahead of closing, and on October 1 the transaction was completed and Aureus renamed itself Powerus Corporation. (Nasdaq)

The transaction also brought prominent financial backers. The merger announcement identified Eric Trump and Donald Trump Jr. as notable investors in the combined company through American Venture Partners, alongside other investors including drone manufacturer Unusual Machines and a $50 million strategic investment. (SEC)

But what happened on October 2 represents a different kind of capital-markets experiment.

Backpack Securities took the newly combined PUSA equity and put a tokenized version on Solana roughly a day after the merger closed.

That speed is notable.

A company can complete a major corporate transaction inside the conventional securities system on Thursday and have an onchain representation of its equity circulating through blockchain infrastructure on Friday.

The gap between going public and going onchain is beginning to disappear.

Tokenization’s democratization story Crypto has talked about democratizing finance for years.

Tokenized equities offer a more concrete version of that argument.

They do not necessarily create new assets. They change how existing ones can be distributed.

A traditional stock generally lives inside brokerage infrastructure. Moving it from one institution to another is possible, but ownership remains tied to a complex network of brokers, custodians, clearing systems and market hours.

Putting a compliant representation of that security on a blockchain begins to make the asset behave more like software.

It can exist in a wallet.

It can settle against stablecoins.

It can move through blockchain applications.

And, eventually, tokenized securities could interact with lending protocols, collateral systems and other programmable financial infrastructure.

There are still substantial limitations. Backpack Securities’ tokenized-equity service is restricted in jurisdictions including the United States, and securities law does not disappear simply because an asset moves onto a blockchain. (Solana Compass)

So tokenization has not suddenly made every U.S. equity permissionless or universally accessible.

The more important change is portability.

Nasdaq can remain where a company establishes its public equity, while networks such as Solana become additional rails on which that equity can move.

That makes PUSA interesting beyond Powerus itself.

The significance isn’t that a drone company now has a token.

It is that a conventional public company’s shares could acquire a blockchain-native distribution layer almost immediately after a transformational corporate transaction.

And that brings the two sides of the Powerus story together.

On the battlefield, Powerus is trying to transfer more sensing, coordination and execution from humans to software so operators can remain farther from danger.

In capital markets, blockchains are transferring more ownership, settlement and distribution functionality into software so financial assets can move beyond the systems in which they were originally issued.

Neither eliminates humans or institutions.

Both make the underlying infrastructure more programmable.

Powerus is building the brain behind the machine.

Blockchain is becoming another rail beneath the asset.

PUSA managed to connect those two narratives in roughly 24 hours.

The author holds a position in $pusa

Disclosure: This article was edited by Han Kao. For more information on how we create and review content, see our Editorial Policy.

Solana’s native cryptocurrency SOL is trading near $120, as fresh data shows record-breaking adoption of tokenized equities on the Solana blockchain. The network’s user base for tokenized-equity assets recently crossed 1.2 million individual holders, indicating a surge in both activity and on-chain participation.

Tokenized equity growth drives network adoptionSolana, a high-performance blockchain designed for decentralized applications, reported that 775,000 new tokenized-equity holders joined the network in September alone. This brought the total number of unique holders to an all-time high of 1.2 million at the end of the month.

Tokenized equities on Solana hit an all-time high of 1.2 million holders, with 775,000 joining in September alone.

The pace of adoption notably accelerated during the last weeks of September, following a period of gradual growth earlier in the year. This uptick reflects increasing interest in tokenized versions of traditional assets, providing users with a new way to engage with the Solana network beyond speculative trading.

Mini dictionary: Tokenized equity, a digital representation of traditional equity shares on a blockchain, allows users to trade, transfer, or hold fractional ownership in assets using blockchain technology. This increases accessibility and potentially streamlines settlement processes.

Broader interest in tokenized financial assets adds an important dimensional layer to SOL’s continued presence near its recent peak price levels.

SOL maintains strength above key technical levelsAs of the latest data, SOL trades at $119.93, up 1.28% in the past 24 hours and hovering close to its recent high of $123.76. On the daily chart, SOL remains well above significant support levels, including its 50-day moving average of $85.72 and its 200-day moving average at $102.94.

Date/LevelSOL Price50-day MA200-day MARecent HighKey SupportCurrent$119.93$85.72$102.94$123.76$94.85The 200-day moving average in particular provides a critical technical reference for traders monitoring downside risk, while the $94.85 zone has also emerged as a crucial support area.

Resistance is visible at the recent daily high of $123.76. A solid move above this could signal a fresh phase in Solana’s rally. Should the breakout not materialize, attention could return to established support levels around $102.94 and $94.85.

Momentum indicators remain supportive. The relative strength index (RSI) stands at 63.82, with its short-term average near 65.48, staying below the traditional 70 level associated with overbought conditions. This suggests ongoing buying interest without extreme overheating.

Market activity and investor focusOpen interest in Solana derivatives remains high at around $6.5 billion, according to CoinGlass, sustaining elevated levels through recent months. Trading volume has also been robust, frequently exceeding $9 billion on several trading days during the period reviewed.

The combination of strong market liquidity, ongoing derivatives activity, and increased adoption of tokenized equities has added new context to SOL’s recent price structure.

SOL maintains its momentum above key moving averages, as fresh adoption data brings a meaningful new catalyst to the network.

Key levels and outlook for SOL priceTraders are closely monitoring the $123.76 resistance level and $120 psychological zone as immediate reference points. A firm break above recent highs could reinforce the network’s bullish technical outlook.

To the downside, the 200-day moving average at $102.94 and the $94.85 level are viewed as important support areas. Technical analysts suggest these figures may provide guidance for near-term volatility and potential market pullbacks.

With the rise in tokenized-equity participation and SOL’s technical position above crucial indicators, the coming days are expected to test whether buyers can sustain upward momentum or if sellers will drive a correction toward lower support zones.

Affected users get one DFX per USDT lost, redeemable for about a cent at launch from a pool that grows with the rebuilt exchange’s daily revenue.

Drift opens claims for $290M hack victims

Posted October 2, 2026 at 5:41 am ET.

The Drift Foundation opened claims and redemptions on Thursday for DFX, a Solana token issued to users of the perpetuals exchange who lost funds in its April 1 exploit. Every USDT of verified loss entitles a wallet to one DFX.

Cashing in today returns about 0.0104 USDT per token, according to Drift, or roughly a cent for each dollar lost. That rate is the balance of a Recovery Pool, about 3.1 million USDT at launch, divided by the DFX outstanding, and it rises as new money lands in the pool.

Supply is fixed at about 299.5 million DFX. In a Sept. 30 update, the foundation put the amount taken from users at over $290 million and said forensic firm Mandiant had identified the attacker as a North Korean group.

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How the Pool Fills The main recurring source is the rebuilt exchange, which rebranded as Velocity in July. At midnight UTC each day, Velocity sends part of its net protocol revenue to the pool, and the share climbs as revenue grows: 60% up to 30,000 USDT, 70% for the next 70,000 USDT, and 90% of each USDT beyond 100,000. The deposits stop once the pool has collected the full verified loss total.

Drift also listed commitments of up to 127.5 million USDT from Tether and up to 20 million USDT from strategic partners, part of the support package it lined up in April. Any recovered stolen funds also go to the pool, and the foundation said about $9.2 million has been frozen so far.

As of Friday morning, Drift’s recovery dashboard showed the pool’s balance came almost entirely from a one-time deposit of the protocol’s remaining assets.

Claim, Sell or Hold Users have to claim from the same wallet that owned their Drift account on the day of the April 1 exploit. After that, DFX can be redeemed from any wallet, traded on venues such as Raydium, or held. Each redemption burns the tokens and pays USDT in a single, final transaction.

In Drift’s example, if 10% of supply is redeemed, each remaining token gets about 11% more of every future deposit. Claims close at midnight UTC on Jan. 1, 2028, and unclaimed DFX will be burned.

“These figures illustrate the mechanics. They are not a projection or a promise,” Drift wrote.

Related Listen: Why Any DeFi Protocol ‘Lives and Dies by Its Oracle’ and How to Strengthen Them

AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.

Forward Industries has increased its SOL and SOL-equivalent holdings by 948,601 tokens during fiscal Q4, taking its total to 8.501 million as of Sept. 30, 2026.

Summary

Forward Industries added nearly 949,000 SOL, lifting total holdings to 8.501 million during fiscal Q4. The company valued its SOL treasury at $1.004 billion using a September 30 price reference. SOL per fully diluted share rose 10.4% quarter-over-quarter to 0.0806, according to Forward Industries’ update. Forward closed a $25 million stock offering in September, with proceeds intended partly for SOL. Solana traded near $122 on October 2, up roughly 4% over the previous 24 hours. Forward Industries said the 13% quarterly increase came from a combination of SOL purchases and staking, with the newly added tokens carrying an average cost of $83. Its holdings rose from 7.553 million at the end of June to 8.501 million at the end of September.

The company said the position represented roughly 1.4% of Solana’s circulating supply. Its definition of SOL holdings includes native SOL, fwdSOL and pledged SOL while excluding borrowed tokens. Forward’s treasury dashboard continues to show 8,501,298 SOL and equivalents as of Sept. 30.

Forward Industries’ SOL holdings reached 8.5 million At a reference price of $118.06 per SOL on Sept. 30, Forward placed the fair value of its SOL treasury at $1.0037 billion. Other digital assets carried a reported fair value of $26.9 million, while cash stood at $7.3 million. The company calculated total net asset value at approximately $870.4 million after accounting for $167.5 million in institutional debt.

SOL per fully diluted share climbed from 0.0730 at June 30 to 0.0806 three months later, an increase of 10.4%. Over the full fiscal year, the measure rose 33% from 0.0604 on Sept. 30, 2025. Forward uses the metric to divide its SOL and SOL-equivalent holdings by its fully diluted share count.

Fully diluted shares increased from 103.53 million to 105.54 million during the quarter. Common shares outstanding rose from 73.85 million to 76.29 million. Forward acknowledged that part of its SOL buying was funded through FWDI share sales and described the issuance as accretive because SOL per fully diluted share still increased.

Chief Investment Officer Ryan Navi called the period a “standout quarter” and pointed to what the company described as record SOL additions. His statement that the company was “building the Berkshire Hathaway of Solana” represents management’s description of its strategy, not an independent assessment of the business.

September stock sale provided more cash for SOL purchases Just before the fiscal year ended, Forward raised another $25 million through a registered direct stock offering. A Sept. 22 securities purchase agreement covered 3.125 million common shares priced at $8 each, and the transaction closed on Sept. 24.

In its SEC filing, Forward said it planned to use the net proceeds for Solana purchases, working capital and general corporate purposes. A company release issued after the closing said the proceeds were intended primarily for additional SOL. The disclosures did not break out how much of that financing had been deployed into SOL by Sept. 30.

Institutional debt increased during fiscal Q4 from $105 million to $167.5 million, according to the Oct. 1 update. Forward’s earlier SEC disclosures show that it has used borrowing arrangements with Galaxy Digital as part of its treasury strategy, alongside staking, lending, DeFi activity and equity financing.

As crypto.news reported in July, Forward had already added more than 500,000 SOL during fiscal Q3, taking its holdings to 7.55 million by June 30. The latest 948,601-token increase means Q4 produced a larger addition than the previous quarter.

Forward began its Solana treasury strategy in September 2025 after raising $1.65 billion through a private placement backed by Galaxy Digital, Jump Crypto and Multicoin Capital. In earlier crypto.news coverage, the company reported acquiring 6.822 million SOL during its first week of the strategy at an average purchase price of $232.

Solana price holds near $122 after September recovery CoinGecko data on Oct. 2 showed Solana trading near $122, up roughly 4% over 24 hours and around 3% over the previous seven days. The token carried a circulating supply of approximately 590 million SOL and a market capitalization near $72 billion at the time of the reading.

Historical CoinGecko data placed SOL at $118.04 on Sept. 30, close to the $118.06 reference Forward used for its quarter-end treasury valuation. SOL had traded below $100 in mid-September before moving above that level later in the month.

A daily SOL/USDT TradingView chart showed the token consolidating around the $120 to $123 area following its rebound from the June lows. The RSI reading of 66.40 remained below the 70 level normally associated with an overbought reading, while sitting slightly above its RSI moving average of 65.66.

Solana (sol) price chart, source: TradingView The same chart placed the MACD line near 5.50 and its signal line around 5.60, leaving the histogram slightly negative at approximately -0.10. Both lines remained above zero, though the small negative histogram showed shorter-term momentum had slowed compared with the preceding advance.

No verified market data establishes that Forward’s latest treasury purchases caused SOL’s Oct. 2 price gain. CoinGecko’s figures show the price movement, while Forward’s disclosure gives the size and timing of its quarterly accumulation as separate data points.

Forward is putting capital into other Solana projects Forward’s Solana exposure extends beyond its treasury tokens. During Q4, the company reported that the market capitalization of ONyc, issued by tokenized reinsurance platform OnRe, increased from roughly $203.4 million at the end of June to $286.2 million at Sept. 30. Forward cited RWA.xyz for the figures.

Forward invested in OnRe earlier in 2026 and committed to purchase as much as $25 million of ONyc, subject to the investment terms. As crypto.news reported in May, Forward and RockawayX participated in OnRe’s $5 million funding round, while Forward planned a separate investment into the Solana-based token.

The company said Solana’s tokenized real-world asset market, excluding stablecoins, increased from more than $3.3 billion at the end of June to approximately $4.3 billion by Sept. 30. Its Oct. 1 release attributed that market figure to RWA.xyz.

Forward’s quarter-end treasury numbers remain preliminary and unaudited. The company said its net asset value, digital-asset values, debt figures and capitalization data remain subject to completion of its annual audit for the fiscal year ended Sept. 30, 2026.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Key Highlights SOL currently hovers around $121, experiencing a 4% decline over 24 hours following resistance tests at the $120 level. Alpenglow network upgrade has launched on testnet, targeting transaction finality below 100 milliseconds. September marked a nine-month peak for Solana application revenue, reaching $180 million. Spot Solana ETFs in the United States attracted $271 million during September, marking the strongest 10-month performance. Technical analysts anticipate potential consolidation around $110-$112 before continuation toward $150 levels. As of October 2, Solana is changing hands at approximately $121.63, reflecting a nearly 4% decline over the previous 24-hour period. This retraction occurred after SOL tested the $120 threshold, a key resistance point that previously served as a technical milestone. Current trading activity registers $3.7 billion in volume, representing roughly 5.6% of the token’s circulating supply valuation.

Solana (SOL) Price The downward movement arrives in the wake of U.S. inflation figures that came in below market expectations. Nevertheless, bearish momentum has persisted throughout the cryptocurrency sector during this period.

Market focus has shifted significantly toward the Alpenglow network enhancement. This technical upgrade is currently operational across Solana’s testing and development environments, allowing engineers to evaluate its practical implementation and performance metrics.

Alpenglow’s Technical Impact on Solana Network The Alpenglow enhancement aims to reduce transaction finality from approximately 12 seconds down to sub-100 millisecond timeframes. Initial testing environment data indicates the upgrade may exceed these performance benchmarks.

Should mainnet deployment prove successful, Solana would establish significant throughput superiority compared to Ethereum and BNB Chain. The network would simultaneously offer lower transaction costs than EVM-compatible chains while preserving a more decentralized validator distribution than BNB.

Parallel to technical developments, Solana’s decentralized application ecosystem continues expanding. September’s application revenue totaled $180 million, representing the strongest monthly performance since January and securing Solana’s 32% market share of cross-chain blockchain revenue.

On a single day—September 11—the platform produced approximately $8 million from decentralized application activity. Throughout that same week, decentralized exchange volume reached $16.59 billion, contributing to Solana’s all-time DEX volume surpassing the $3 trillion milestone.

Institutional Investment Flows and Technical Support Zones Investment vehicle adoption has introduced an additional bullish narrative. Spot Solana exchange-traded funds in the United States accumulated $188.2 million in net purchases during the week concluding September 25, representing the second-largest weekly intake since product launches.

Market analyst Ash Crypto drew attention to this pattern explicitly. “$SOL is up +70% in the last 60 days. And the institutional demand is getting harder to ignore. Spot SOL ETFs bought approximately $271M worth of SOL in September — the largest monthly inflow in 10 months,” the analyst noted, suggesting that price action combined with institutional accumulation may drive SOL’s next upward leg.

One particularly strong session on September 26 delivered $86.6 million in single-day inflows, establishing a record for these investment products. Solana’s decentralized finance infrastructure has expanded in tandem, with total value locked exceeding $6.5 billion.

From a technical perspective, SOL achieved a local peak around $126 before entering a series of descending highs. Data from CoinMarketCap positioned the asset near $116.9 on October 1, following settlement prices of $122 on September 27 and $118 on September 28.

Traders are monitoring whether SOL maintains its present support structure. A retracement toward the $110-$112 zone is viewed as a probable consolidation phase preceding any sustained advance toward the $150 objective, which correlates with expectations surrounding Alpenglow’s mainnet activation.

At the most recent update, SOL was valued at $121.85.

Solana just had its busiest three months on record. The network processed more than 14 billion transactions in the third quarter of 2026, the highest quarterly total it has ever posted.

Research data puts the figure at approximately 14.2 billion, a 45% jump from the previous quarter.

The numbers behind the record Daily active addresses averaged about 4.1 million in Q3, a 12% increase over Q2. Average daily transactions came in at 120 million, up 8% quarter-over-quarter.

On its busiest days, the network handled more than 169 million transactions.

Wallets holding SOL climbed to 8.38 million, a 20.5% increase from the prior quarter.

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The number of stablecoin holders on Solana rose to 13.07 million, up 16% over the same period.

On-chain card payment volume reached $262.7 million in Q3, already surpassing the entire total for Q2.

Upgrades did some of the heavy lifting In late July, Solana rolled out SIMD-0286, a compute limit increase. In mid-September, the network transitioned to a new transaction format. Through both changes, block times held steady near 400 milliseconds.

The research also tracked successful non-vote transactions, which strip out the consensus messages validators send to keep the network in sync. September recorded approximately 3.2 billion successful non-vote transactions, the third consecutive monthly record.

What this means for SOL and the wider ecosystem SOL was trading around $117 in early October 2026, with an estimated circulating market cap between $60 billion and $70 billion.

Daily trading volumes also declined during the period, even as on-chain activity climbed.

Wallet counts up 20.5% alongside lower trading volume could point toward holders settling in for the longer term rather than flipping tokens.

Stablecoin holders grew to 13.07 million, positioning Solana as a serious settlement layer for dollar-pegged tokens. Card payment volume of $262.7 million surpassed the prior quarter’s total before Q3 even wrapped.

Risks remain. Higher compute limits and a new transaction format put more strain on validators, and sustaining 400-millisecond block times under heavier loads is an ongoing test.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.