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15 August 2026 | 10:43 Solana's month-long price compression could be close to resolving while its community debates how quickly SOL supply should expand.

Key Takeaways SOL has entered the narrow end of a descending price structure after reclaiming Fibonacci support. Two proposed changes would reduce new issuance and make token burning more dependent on network activity. The wider thesis depends on demand from both buyers and Solana users; slower supply growth alone is not enough. Lower Highs Have Pushed SOL Into a Tight Range SOL traded near $75 on August 15, less than 1% above the 0.382 Fibonacci retracement near $74.5. Directly overhead, the descending blue trendline meets the 50-day SMA near $75.9, with the 100-day SMA at $77. Less than $2.50 separates support from the top of that resistance band.

Solana daily price chart testing support near the 0.382 Fibonacci retracement level. The other side of the structure has held near $71.8. SOL returned to that area around the end of July and again in early August, but sellers could not force a sustained break beneath it.

Buyers then reclaimed Fibonacci support and pushed the price back into the $76 area. The rebound stopped below the descending trendline, and the candles narrowed as support and resistance moved closer together.

A daily close above the full resistance band would open room toward the 0.5 Fibonacci retracement close to $79. The next cluster sits higher, between the 200-day SMA at $82 and the 0.618 Fibonacci level near $83.5.

A close below Fibonacci support would erase the latest reclaim and expose the horizontal triangle base again. If that floor fails, the 0.236 Fibonacci level at $69 becomes the nearest marked support.

Recent candles have crossed nearby levels intraday and closed back inside the range, so confirmation still depends on the daily close and successful retest.

Lower Inflation Would Shift More Weight to Network Demand Grayscale Head of Research Zach Pandl estimates that SOL’s annual supply inflation could fall to roughly 1.1% by the end of 2031 if the changes under discussion are adopted.

His estimate rests on two mechanisms examined in our analysis of Solana’s proposals to slow SOL supply growth.

Two Proposals Target Different Parts of SOL Supply SIMD-0550 would reduce new issuance. It would increase the annual reduction in Solana’s inflation rate from 15% to 30%, resulting in an estimated 18.9 million fewer SOL being created over six years. The network would reach its 1.5% issuance floor in the first half of 2029 instead of 2032. SIMD-0553 would increase fee burning. It proposes a resource-based fee that would be burned in full. At its terminal modeled rate, the system could destroy between 7,500 and 9,000 SOL per day if activity resembles the May 2026 sample used by its authors. Together, the changes would move SOL’s economics away from issuance and closer to usage. Fewer tokens would be distributed through inflation, while heavier demand for network resources could produce a larger burn.

Why Slower Supply Growth Is Not Automatically Bullish Issuance would still exceed burns. The proposal estimates that roughly 60,000 SOL currently enters circulation each day, far above even the projected terminal burn. The likely result is slower supply growth, not an immediately shrinking supply. The burn depends on activity. Fewer transactions would mean fewer tokens destroyed, while resource-based fees that become too costly could discourage some network use. Staking rewards would fall. Unstaked holders would face less dilution, but stakers and validators would receive fewer newly issued tokens. Their outcome would depend on SOL’s price and on whether fees and MEV replace enough of the lost reward income. Pandl’s price argument is therefore conditional: lower supply growth may help if demand holds.

How the Supply Thesis Connects to the Current Squeeze The two stories operate on different timelines. The chart will determine whether the current recovery can continue, while the proposals – if approved – would shape how quickly SOL dilution falls in the years ahead.

Lower issuance could improve SOL’s supply profile, but only sustained network activity can generate meaningful burns and compensate for lower staking rewards. For now, the chart is testing buying demand; the tokenomics debate is testing whether Solana can rely less on inflation without weakening participation.

Disclaimer: Fibonacci levels, moving averages and trendlines are based on SOL’s daily chart and can shift as new price data develops. The tokenomics figures are projections based on proposals that have not been implemented. Nothing in this article constitutes financial or investment advice. Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.

Solana Company has reported a $30.3 million second-quarter loss despite earning $2.5 million in revenue, almost entirely from staking its SOL holdings.

Summary

Revenue increased from $43,000 a year earlier but fell from $3.6 million in Q1. Solana Company earned 31,200 SOL in rewards and automatically restaked the tokens. A $25.4 million realized loss on digital assets weighed heavily on quarterly results. Cash fell to $3.6 million as total assets declined to $176.1 million. Solana Company said in its Aug. 14 financial release that staking contributed $2.512 million of its $2.526 million quarterly revenue, while other operations generated only $14,000.

Compared with the same quarter of 2025, when revenue reached $43,000, the Nasdaq-listed company recorded a sharp increase after building a large Solana treasury. Revenue still declined about 30% from the $3.6 million reported in the first quarter, based on its first-half figures.

During Q2, the company earned 31,200 Solana (SOL) in staking rewards and automatically restaked the tokens. Restaking allowed the holdings to continue earning rewards rather than being sold or moved into cash.

Cost of revenue came to $77,000, leaving a gross profit of $2.4 million and a gross margin of about 97%. High margins from staking were not enough to cover operating expenses and losses tied to the company’s digital assets.

SOL sales drove most of the quarterly loss Operating expenses reached $35.1 million during the quarter, up from $3.3 million a year earlier. Solana Company consequently recorded a $32.7 million operating loss, compared with a $3.3 million loss in Q2 2025.

A realized loss of $25.4 million from digital-asset sales accounted for the largest part of the increase. On the company’s earnings call, management said the loss came from “strategic sales executed as part of our capital allocation program.”

At the same time, the accounts included a $2.4 million unrealized gain on digital assets and receivables. Solana Company also booked a $298,000 unrealized loss on a digital-asset fund investment and a $682,000 loss on digital-asset derivatives.

Administrative expenses increased to $11.1 million from $3.3 million in the year-earlier quarter. Approximately $6.8 million came from severance costs connected to the divestiture of the PoNS medical-device business, leaving roughly $4.3 million in other administrative spending.

The company completed the sale of PoNS during Q2 as it moved away from its former medical-device operations. Solana Company recorded a $3.1 million gain from the transaction, which partly reduced the effect of its operating loss.

Nonoperating income totaled $2.4 million after including the gain from the sale, a $322,000 change in the value of a derivative liability, and $259,000 in other expenses. Most of the latter amount came from fluctuations between the Canadian and U.S. dollars.

After accounting for those items, the company posted a net loss of $30.3 million, or $0.38 per basic and diluted share. A year earlier, its loss stood at $9.8 million, or $79.73 per share, although changes in the number of outstanding shares make the per-share figures difficult to compare directly.

Solana Company’s first-half loss reached $130.1 million For the first six months of 2026, revenue increased to $6.1 million from $92,000 in the comparable period of 2025. Staking supplied $5.9 million of the total, while other revenue contributed $218,000.

First-half operating expenses rose to $138.2 million, including an $86.8 million unrealized loss on digital assets and receivables. Realized digital-asset losses reached another $32.4 million, while the digital-asset fund investment produced a $2 million unrealized loss.

As a result, Solana Company reported a six-month net loss of $130.1 million, equal to $1.66 per share. Management said on the earnings call that fair-value movements recorded under U.S. accounting rules did not reduce its cash balance or the number of SOL tokens produced through staking.

The company adopted its SOL-focused model in September 2025, when it was still called Helius Medical Technologies. As crypto.news reported, the firm launched the treasury strategy through a $500 million private placement led by Pantera Capital and Summer Capital.

Participants purchased shares at $6.88 each and received warrants exercisable at $10.13. The deal included as much as $750 million in potential proceeds from warrant exercises, although the additional capital depended on investors choosing to exercise them.

By October 2025, the renamed company had grown past 2.2 million SOL, then valued at more than $525 million. The company also reported over $15 million in cash at the time.

Its June 2026 balance sheet showed a much smaller asset base. Total assets fell to $176.1 million from $303.9 million at the end of 2025, while stockholders’ equity declined to $165.6 million from $300.9 million.

Cash and cash equivalents dropped to $3.6 million from $7.3 million. Current digital assets stood at $21 million, with another $2.3 million classified as a digital-asset collateral receivable.

Long-term digital assets and related exposure totaled $147.3 million. According to the company, the figure covered staked positions, restricted assets, receivables, and investments in digital-asset funds.

Nasdaq investors remain exposed to SOL price movements Because HSDT trades on the Nasdaq Capital Market, U.S. investors can obtain indirect SOL exposure through its shares without holding the token directly. The company’s filings also show that its financial position depends heavily on SOL prices, staking returns, and its ability to raise money through stock sales.

During Q2, Solana Company raised $7.9 million in net proceeds from a registered direct stock offering led by Mirae Asset, with HashKey Capital also participating. The company sold approximately 3.08 million shares at $2.60 each and said the proceeds could support SOL purchases, working capital, and corporate expenses.

At the same time, it spent about $2.3 million repurchasing 1.3 million shares. First-half buybacks reached approximately $5.9 million, covering 2.9 million shares held as treasury stock at the end of June.

The company had 60.4 million issued shares on June 30, of which 57.4 million were outstanding after excluding treasury stock. Its accumulated deficit rose to $342.6 million from $212.6 million at the end of 2025.

HSDT closed Aug. 14 at $1.70, down 5.56% during regular trading, according to market data cited by Investing.com. Shares recovered slightly to $1.71 after the closing bell, while the reported revenue total fell about $400,000 short of the $2.9 million analyst estimate cited by the publication.

Validator revenue could begin in the third quarter Apart from staking its own treasury, Solana Company is building infrastructure intended to earn revenue from third-party assets. Its first institutional validator cluster became operational in Tokyo under an initiative called Pacific Backbone.

Chief Executive Joseph Chee said the company’s recurring businesses were starting to develop as the Tokyo operation came online and PoNS left its cost base.

“With our first validator cluster operational in Tokyo, and the legacy business fully divested, the recurring revenue streams that leverage our institutional-grade infrastructure are beginning to take root,” Chee said.

Management expects the Tokyo cluster to begin contributing validator-related revenue in the third quarter. In July, the operation secured its first third-party staking commitment of approximately 500,000 SOL, according to comments made during the earnings call.

Solana Company previously added Helius and Twinstake to its staking setup, allowing it to stake SOL directly from custody at Anchorage Digital Bank. At the time of the October 2025 announcement, Helius and Twinstake ranked among the Solana network’s 25 largest validators by delegated SOL.

Under Pacific Backbone, the company also entered a May partnership with the Jito Foundation to develop institutional Solana infrastructure across the Asia-Pacific region. Management said it expects administrative expenses to return closer to first-quarter levels as the severance costs from the PoNS sale fall out of its accounts.

After the quarter ended, Solana Company completed a $2 million acquisition of a Hong Kong trust company on July 15. The transaction will be included in its third-quarter financial statements.

P2P.org has integrated its staking infrastructure with Arkis, allowing institutional clients to use staked Solana and Avalanche assets as collateral while continuing to earn protocol rewards.

Summary

Arkis clients can use staked Solana and Avalanche positions as collateral for trades. Margin is calculated against the aggregate risk of each client’s Arkis account. Validator downtime and slashing risk will affect how Arkis values the collateral. The integration is live through the Carry Trades section of Arkis Alpha. P2P.org staking enters Arkis collateral system P2P.org said in an Aug. 13 announcement that Arkis clients can now stake supported assets through its validator infrastructure and post the resulting positions as collateral without unstaking them first.

At launch, the integration supports Solana and Avalanche. P2P.org and Arkis did not say when other proof-of-stake networks might be added.

Once deposited, the staked asset and any trades backed by it sit within a single Arkis account. The prime broker calculates margin from the aggregate risk of the account instead of assessing each position separately at the trading venue where it is held.

Clients can therefore borrow against a supported staked position in the same way that they borrow against other collateral accepted by Arkis. According to the announcement, the asset continues generating protocol rewards while it supports the client’s trading positions.

The service is available through Carry Trades in Arkis Alpha. After a client selects a staked asset, the platform displays the strategies that accept it as collateral and provides the stated economics before capital is committed.

P2P.org supplies the non-custodial staking and validator infrastructure, while Arkis handles credit, collateral, and portfolio risk.

“Collateral is only as good as the operator standing behind it,” said Artemiy Parshakov, vice president of strategic solutions at P2P.org.

Parshakov added that staking can no longer be treated as a passive balance-sheet position once an institution borrows against it. According to the executive, P2P.org’s validator operations must meet the standards applied under Arkis’s credit and risk framework.

Arkis prices validator risk into margin Adding staked assets to a margin account introduces risks that do not apply to cash or unstaked tokens. Proof-of-stake networks can penalize validators for conduct such as signing conflicting blocks or failing to meet certain network requirements.

Known as slashing, the penalty can reduce the number of tokens attached to a validator. Extended downtime can also reduce expected rewards, changing the value of a position used to support an open trade.

Arkis said its risk framework considers the quality of the staking operator when determining how the collateral should be treated. Slashing history and validator downtime are therefore assessed as margin inputs rather than excluded from the calculation.

“A growing share of institutional books sits in assets that earn yield, and credit providers have been slow to treat those positions as part of the portfolio they margin,” said Oleksandr Proskurin, chief product officer and co-founder of Arkis.

Proskurin said the integration places staked assets alongside the client’s other positions for margin purposes. Arkis chose P2P.org because the prime broker wanted to assess the operator behind the staked asset as part of its underwriting process, he added.

According to Arkis, the Spark-backed company has deployed more than $250 million in institutional credit since 2022 without recording bad debt. The figure is company-provided and was not independently verified in the announcement.

P2P.org reported that its validators operate across more than 40 proof-of-stake networks and secure over $10 billion in staked assets. The company also claimed that it has not recorded a slashing incident since its establishment in 2018 and serves more than 190 institutional clients.

Staked collateral keeps capital in use Without such an arrangement, a fund may need to unstake an asset before using it as collateral elsewhere. Unstaking can involve a waiting period determined by the blockchain, during which the holder may lose access to trading opportunities or stop receiving some rewards.

The P2P.org integration allows the staked position to remain active while Arkis uses it to support other trades. Any rewards remain determined by the underlying protocol and can vary based on network conditions, the amount staked, validator performance, and protocol rules.

Using an earning asset as collateral does not remove liquidation or slashing risk. A decline in the token’s market price, a change in margin requirements, or a validator penalty could reduce the collateral supporting an open position.

The Arkis arrangement differs from restaking, in which an already-staked asset is used to secure additional blockchain services. As an August staking explainer detailed, restaking can expose an asset to several sets of slashing conditions when it secures multiple protocols.

Under the announced Arkis structure, the supported staked position serves as financial collateral within a prime brokerage account. The companies did not state that Solana or Avalanche assets would be restaked to secure another network.

P2P.org has used similar integrations to place its staking services inside existing institutional systems. In June, crypto.news reported that Taurus had integrated P2P.org validators with Taurus-PROTECT, allowing financial institutions to stake while retaining custody and control of their assets.

An earlier collaboration added P2P.org to Northstake’s ETH validator marketplace in January 2025. The companies said the marketplace was designed to provide regulated institutions with access to Ethereum validator infrastructure.

U.S. guidance covers some staking arrangements For U.S. institutions, a May 2025 staff statement from the Securities and Exchange Commission’s Division of Corporation Finance addressed certain forms of protocol staking carried out directly or through a third-party operator.

The SEC staff statement said the protocol staking activities described in its analysis did not involve the offer and sale of securities. Its position covered some non-custodial arrangements in which token owners retain ownership and control of their assets and private keys while assigning validation rights to a node operator.

The division said its view depended on the specific facts and circumstances. Services that include additional business arrangements or depart from the activities described in the statement may require a separate legal assessment.

P2P.org describes its staking infrastructure as non-custodial, but neither company announced specific access for U.S. institutions or said that the Arkis integration had been assessed under U.S. securities law. The release also did not disclose whether geographic restrictions apply to Arkis Alpha.

In May 2025, the Office of the Comptroller of the Currency confirmed that national banks and federal savings associations may outsource permissible crypto activities to third parties when they maintain appropriate third-party risk controls. The OCC guidance addressed custody and transaction execution but did not approve P2P.org, Arkis, or the use of staked assets as trading collateral.

P2P.org separately announced an Aug. 11 partnership with BoulderTech to distribute staking and decentralized finance services in Argentina, Brazil, and Mexico. BoulderTech will connect the validator operator with regional exchanges, custodians, banks, asset managers, and funds, while both companies assess whether to deploy validator infrastructure at IRSA-backed facilities in Argentina.

20h35 ▪
6
min read ▪ by
Luc Jose A.

Summarize this article with:

XRP has just lost a level it had defended since late 2024. Briefly falling below $1, Ripple’s token now shows more than a 5% drop over one month, unlike Bitcoin, Ethereum, and Solana. Yet behind this weakness lies a paradox: long-term investors are massively accumulating, while derivatives markets intensify selling pressure and flows to ETFs have sharply dried up. Two opposing forces now clash around XRP, and their duel could determine the token’s next move.

In Brief

XRP suffers a drop of more than 5% over one month and slips below $1, against the modest gains of Bitcoin, Ethereum, and Solana.
The cohort of wallets holding at least 1 million XRP has grown by 32 in three months, taking advantage of the drop to accumulate.
XRP deposit addresses on Binance have dropped by 96%, confirming investors’ intention to keep their tokens out of selling circuits.
Net flows on XRP spot ETFs have fallen to zero over the last four sessions, totaling only one million dollars in the first twelve days of August.

The silent accumulation of major investors and the drying up of deposits
Despite a continuously falling double-digit market capitalization over recent weeks, on-chain indicators attest to massive accumulation by the biggest holders in the market. According to analysts at Santiment, 32 new wallets have been added to the number of addresses holding at least one million XRP during the last three months. Thus, these gradual acquisitions methodically absorb the coordinated bearish pressure from retail investors.

Santiment’s team of experts views such dynamics as a long-term conviction strategy. They state: “when the number of wallets holding at least one million XRP increases while market capitalization decreases, it means the strong hands absorb the panic. Patience takes precedence over mere speculative enthusiasm related to price, and the prospects of future volatility become all the more attractive for buyers.” Additionally, there is a quantitative increase in daily interactions due to user behavior on the network. Active addresses rose from 26,400 in July to 35,700 in August. August 11th saw a peak in activity, unmatched since June 5th.

The current state of centralized exchanges shows tokens locked outside immediate selling circuits. Data published by CryptoOnchain reveals a considerable drop of 96% compared to monthly and quarterly norms. Meanwhile, inflow and outflow volumes have respectively fallen by 79% and 85% relative to their 90-day moving averages. Moreover, for CryptoOnchain’s analyst, this trend reflects strict retention of XRP coins: “The network records strong activity, but tokens are not transferred to exchanges to be sold.” In this context, the majority of long-term XRP holders, far from succumbing to general panic, deliberately chose to isolate their positions off-exchange despite the price correction.

Such resilience by the network’s historical holders is reflected through various accumulation metrics :

Growth in the number of whales : wallets holding at least one million XRP have increased by 32 over the last three months, amidst falling prices ;
Collapse of deposit activity on Binance : a 96% drop in XRP deposit addresses compared to usual averages, alongside a decline in inflows (-79%) and outflows (-85%) ;
Steady increase in network usage : daily active addresses rose to an average of 35,700 in August (up from 26,400 in July), peaking on August 11.

Stagnant adoption under selling pressure from derivatives
Despite the strength of activity from historical wallets, this does not demonstrate an ecosystem growth nor buying momentum on futures markets. In this perspective, Santiment nuances the overall picture. The analytics platform indicates that new address creation is stubbornly stagnant at 2,260 per day currently, compared to 2,270 in July. Analysts state: “presenting the situation as growing user activity is only half true. The existing user base is simply conducting more transactions, but the overall number of wallets is not increasing.”

Without new dynamism in the network, short-term speculation would continue to influence prices. Regarding the derivatives market on the Binance exchange, selling pressure is firmly established. The taker buy/sell ratio plunged to 0.86, its lowest value since May. Analyst Arab Chain highlights the significance of this figure: “a value below 1 indicates that the volume of sell orders executed by traders exceeds buy orders, thus reflecting clear selling pressure from market participants operating directly on the market.”

A Cumulative Volume Delta (CVD) confirms this clear dominance of sellers. The indicator remains in the red around –4.15 million, despite maintaining a 0.84 correlation with price. Arab Chain draws this conclusion: “despite strong CVD-price correlation, the CVD value remains anchored in negative territory. This shows market flows strongly favor selling, proving buying activity is insufficient to shift net flow balance into positive territory.” Therefore, short-term sellers continue setting the pace against buyers unable to reverse the trend in order books.

The scarcity of flows on XRP ETFs
Institutional investors are also slowing down. Data from SoSoValue shows that XRP ETFs have recorded a zero net balance over the last four sessions. Such a steep decline was spectacular in the week ending August 7.

Indeed, these products, after accumulating $14.86 million the previous week, attracted only $1.01 million, a colossal drop of 93%. Thus, over the last twelve days of this August, cumulative inflows barely exceed this mere million dollars, indicating temporary disinterest from professional investors.

Ultimately, the confrontation between whales’ firmness and retail investors’ disinterest in ETFs as well as derivatives places XRP in a precarious balance. The absence of new users contributes to limiting the market’s capacity to absorb aggressive selling by short-term traders. A resumption of inflows into ETFs could trigger sustainable bullish dynamics.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

In brief 6th Man Ventures Co-Founder Mike Dudas said Solana is positioned to attract mainstream users because it supports trading, payments, and settlement on a single network. He argued that corporate-backed networks such as Coinbase’s Base and Robinhood’s blockchain face pressure to steer users toward fee-generating products. His comments come as Solana validators consider proposals to slow token issuance and burn more SOL. Solana could bring hundreds of millions of people into crypto without most of them realizing they are using a blockchain, investor Mike Dudas said on a recent episode of Decrypt's Fomo Hour podcast.

Dudas, co-founder of crypto venture firm 6th Man Ventures and an early backer of Pump.fun and various other Solana projects, said the network's advantage is the range of activity it supports.

“The reason I think Solana is in a great position is because it is sort of the everything chain of trading and money movement and settlement,” he told Decrypt. “So it’s performant, it’s flexible, and it’s multi-use case.”

Dudas said consumer apps have made crypto easier to use by hiding many of its technical elements. Users can now fund accounts through services such as Apple Pay without handling wallets or interacting directly with a blockchain.

Today we sat down with @mdudas to chat about @solana and its ecosystem!

3:30 - Solana's place this cycle
7:10 - Thoughts on the latest Solana Governance vote
8:40 - Are Memecoins back?
14:40 - El Toad Pepe backstory
18:07 - How to make a memecoin a "good coin" ?
21:05 - The… pic.twitter.com/zR7LewjEll

— Decrypt (@DecryptMedia) August 12, 2026

“I think that’s how most people are going to experience ‘on-chain’ moving forward,” he said.

Dudas argued that Solana’s less visible infrastructure—including round-the-clock availability, deep liquidity, low fees, and near-instant settlement—makes those consumer products possible.

“The unsexy stuff enables the stuff that people use,” he said.

Corporate-backed blockchains face different pressures, Dudas said, pointing to Coinbase’s Base and Robinhood Chain. He argued that both companies have an incentive to direct users toward products that generate revenue.

Dudas also said he supported efforts to reduce Solana’s token issuance—a topic that’s making the rounds of late as calls to reduce inflation in both the Solana and Ethereum ecosystems intensify.

“The notion that you need massive amounts of inflation for security has been overdone,” he said, calling the latest proposal “reasonable.”

Solana validators are considering two measures bundled under SGP-0003. The proposals would accelerate reductions in new SOL issuance and increase the amount of SOL burned through network fees. If it goes through, it could result in the kind of supply-size squeeze investors would likely benefit from, assuming demand stays steady or increases.

Dudas said Solana’s meme coin ecosystem also proved more resilient than much of the crypto market during the downturn, arguing that the network’s willingness to support uses ranging from speculative tokens to stock trading has become one of its strengths.

“The beauty of Solana is that the chain supports all of these different use cases,” he said. “As much crap as the Solana Foundation gets, and as much crap as I sometimes give it, they unequivocally and vocally support all of these broad use cases—and you can see it.”

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

@SolCex_Exchange has added Pi Network ($PI), Canton Network's $CC, and Ethereum Classic ($ETC) to its platform, with the listings going live as of August 12, expanding the exchange's tradeable asset base well beyond its native Solana ecosystem.

Pi Network's Expanding Exchange FootprintPi Network's Open Mainnet launched on February 20, 2025, with trading beginning at 08:00 UTC across participating exchanges, including Bitget, KuCoin, Gate.io, and MEXC. Despite that broad initial rollout, $PI currently trades around $0.090, with upcoming token unlocks of roughly 775 million PI adding to concerns over selling pressure. The SolCex listing gives @PiCoreTeam's token another venue as it works to recover ground lost during a July slump.

Canton Network and Ethereum Classic Round Out the ListingsThe addition of $CC from @CantonNetwork and $ETC broadens SolCex's reach further. Ethereum Classic, the original Ethereum chain maintained after the 2016 DAO fork, represents the proof-of-work legacy side of the market. Canton Network is a privacy-enabled blockchain designed primarily for institutional use cases. Listing both alongside $PI signals that @SolCex_Exchange is actively pushing to compete with larger centralized platforms.

SolCex describes itself as the first centralized cryptocurrency exchange built on @Solana, using the network's high throughput and low fees to offer fast execution and cross-chain compatibility across Solana, Ethereum, and other blockchains. Whether broader listings translate into meaningful trading volume remains to be seen, but the move adds three distinct asset classes to a platform still establishing its position in a crowded market.

Sources
CryptoPotato: Pi Network News and PI Token Price Update, August 13
GlobeNewswire: SolCex Positioned as Primary Centralized Exchange for Solana
CryptoRank: Pi Network Listing Status

Solana’s flourishing RWA sector is growing even more tangible, with Dominion bringing physical redeemable silver onchain in today’s $SILV launch.

Sunrise DeFi, the Wormhole-powered asset gateway, has been shoulder-tapped to support the launch, facilitating deep liquidity and integration across Solana DeFi.

Dominion’s launch comes at a critical time for Solana’s onchain commodities landscape, which has yet to witness the same adoption as its flourishing tokenized equities scene.

Tokenized, Physical Silver Hits Solana
Dominion has launched $SILV, a tokenized, redeemable asset backed 1:1 by physical silver. Where most of Solana’s existing onchain silver products are based on paper derivatives and adjacent ETFs, Dominion’s $SILV offers a more tangible, physical exposure to the world’s 2nd largest metal market.

"Silver has been money for thousands of years, but on-chain it barely exists. Dominion fixes that. Every SILV token is one ounce of real, audited silver you can trade, lend, and borrow against on Solana from day one. We are bringing the oldest hard asset into the most active on-chain economy." -  Mark Tormey, Dominion founder

According to Dominion’s Transparency page, the issuer holds 150,000 ounces of physical silver bars, currently valued at roughly $9.7M. Dominion claims its silver holdings are stored by institutional vault storage professionals, and are routinely subject to third-party audits, the most recent of which was conducted by Bureau Veritas in June 2026.

Minting $SILV comes with a 1.5% fee, while redemptions of physical silver are expected to be operational within 3-6 months of launch. 

"Silver has been traded for thousands of years, but buying a single ounce still means finding a dealer, paying to ship it, and paying someone else to store it. Sunrise enables issuers to bring assets like physical silver onchain without this friction, while enabling liquidity from day one of trading." - Saeed Badreg, CEO, Wormhole Labs

Traders and investors can alternatively purchase $SILV through Solana DeFi applications, with Sunrise spearheading liquidity services to facilitate better onchain execution.

Total Volume on Sunrise Assets Crosses $5.5B
Since its day one Monad ($MON) listing back in November 2025, Sunrise has consistently brought the wider market’s most tradable assets to Solana DeFi. Branching out of foreign Layer-1 coins like $MON and $HYPE, Sunrise’s expansion into a broader range of assets, including Backpack Securities, has accelerated volumes across listings.

According to Dune Analytics data, Sunrise-listed assets have witnessed over $5.5B in total trading volume, with more than 294,700 unique wallets trading foreign assets and tokenized securities onchain.

While the listing of traditional financial instruments, like tokenized equities, arguably represents a bigger opportunity, onchain markets are flowing the vast majority of trading volume through $HYPE. This is most likely due to the arbitrage opportunity available to traders moving $HYPE between Solana and the Hyperliquid L1.

While similar opportunities exist between Backpack’s tokenized stocks and their 1:1 counterparts, Backpack’s KYC requirement erects a potential barrier that could be discouraging to some arbitrageurs.

However, volume patterns suggest that some stocks are finding the onchain economy to be a far more liquid and high-volume venue than its TradFi rivals. In mid July, RoboStrategy’s $BOT witnessed higher trading volumes in Solana DeFi than on the NASDAQ, suggesting stronger appetite for certain assets among DeFi players than typical market participants.

Solana Trails on Tokenized Commodities Adoption
Despite an explosion of trading activity throughout Solana’s tokenized equity sector, the chain’s traders are yet to embrace commodities. RWA.xyz data suggests that the total value of Solana’s tokenized commodity market is only $23.6M, commanding a mere 0.48% of market share and falling well behind rival chains like Ethereum and BNB.

While Dominion’s $SILV launch is unlikely to cause an immediate shift in tokenized commodity rankings throughout the industry, it demonstrates the ecosystem’s desire to compete in one of global finance’s most competitive markets.

Read More on SolanaFloor
Regulators are taking matters into their own hands

SEC to Roll Out “Major Initiatives” to Turbocharge Crypto Industry as CLARITY Flounders

Why Does Solana Want to Burn $SOL?

GSR shifted its Core3 model toward Solana on Aug. 12, raising SOL to 43.6% of the portfolio and making it the model’s largest allocation.

Summary

GSR raised Solana to 43.6%, making SOL the largest allocation in its Core3 model portfolio. Bitcoin fell to 16.9% of Core3, while Ether’s allocation declined to 39.5% this week overall. Solana gained 2.98% over seven days, outperforming Bitcoin and Ether in GSR’s latest weekly comparison. Ether remained the strongest 30 day performer, rising 7.88% despite its reduced model portfolio weight. Core3 gained 5.30% monthly but still trailed the equal weight basket over longer measured periods. Ether fell to 39.5%, while Bitcoin dropped to 16.9%, the smallest weight among the three assets.The firm said the change reflected a move in its relative alpha signals toward Solana as SOL showed stronger near term price momentum. GSR’s written commentary lists the Solana weight at 43.7%, while the accompanying allocation table shows 43.6%. This article uses the table figure.

GSR Model Makes Solana Top Allocation to 43.6%, Cuts Bitcoin to 16.9%

GSR’s Core3 model portfolio raised its Solana allocation to 43.6%, making SOL its largest position, while cutting Ether to 39.5% and Bitcoin to just 16.9%, as the model’s relative alpha signals shifted further… pic.twitter.com/C0aRl77W4h

— Wu Blockchain (@WuBlockchain) August 13, 2026 Solana allocation jumps 7.1 points in one week The latest allocation marks a sharp reversal from the prior week. On Aug. 5, GSR assigned 36.5% to Solana, 44.1% to Ether and 19.3% to Bitcoin. Solana therefore gained 7.1 percentage points in the model within seven days, while Ether lost 4.6 points and Bitcoin lost 2.4 points.

As crypto.news previously reported, the prior weekly allocation tilted toward Bitcoin as trading activity weakened and volatility eased. The Aug. 12 update reversed part of that move. GSR said its latest positioning reflected proprietary relative signals rather than a simple ranking of recent returns.

The distinction matters because Core3 is not presented as a live investment recommendation. GSR says the weekly publication is a model framework intended for professional investors and does not constitute advice or a recommendation to allocate to the three assets.

Solana leads weekly returns while Ether leads the month Solana delivered the strongest seven day return in GSR’s latest table, gaining 2.98%. Bitcoin declined 1.02% over the same period, while Ether slipped 0.20%. Over 30 days, however, Ether remained ahead with a 7.88% gain, compared with 3.19% for Bitcoin and 2.44% for Solana.

The Core3 model itself returned 0.85% over one week and 5.30% over one month, ahead of the equal weight basket at 0.59% and 4.68%, respectively. Longer periods remain weaker. Core3 was down 35.58% year to date and 70.28% over one year, compared with losses of 32.22% and 63.44% for the equal weight basket.

Volatility also remained relatively subdued. GSR put 30 day volatility at 26.82% for Bitcoin, 39.75% for Ether and 35.26% for Solana. The firm said Solana trading volume had softened over both seven and 30 day periods, meaning its larger model weight did not coincide with stronger volume across those windows.

U.S. Solana access expands as GSR favors SOL The model shift comes as U.S. investors gain more exchange traded routes to Solana exposure. Morgan Stanley Investment Management announced on July 28 that it had launched the Morgan Stanley Solana Trust, MSOL, on NYSE Arca alongside an Ether product. The release said MSOL carries a 0.14% expense ratio and seeks to track SOL while staking a portion of its holdings.

Morgan Stanley expanded its crypto ETP lineup after launching a Bitcoin product earlier in 2026. An SEC prospectus says the Solana trust may stake up to 100% of its SOL under normal market circumstances, subject to liquidity needs and legal or regulatory considerations. The filing also details risks tied to staking, custody and concentration in one digital asset.

Competition among U.S. products has also increased. A 21Shares filing dated July 27 said the issuer would waive TSOL’s 0.21% sponsor fee for one year beginning July 28. The company said the product can capture staking rewards, while warning that rewards can fluctuate and staking creates operational and liquidity risks.

Those product developments do not prove that U.S. investors share GSR’s preference for Solana. They do show that regulated U.S. exchange traded access to SOL has broadened and become more competitive while the Core3 model has shifted exposure away from Bitcoin and Ether.

What traders will watch next GSR publishes the Core3 model weekly, making the next allocation an immediate test of whether the Solana overweight persists or reverses. Recent updates show how quickly the weights can move. Bitcoin rose from 9.2% on July 15 to 19.3% on Aug. 5 before falling back to 16.9% in the Aug. 12 model.

Volume, relative momentum and volatility will therefore remain useful measures to watch alongside the next model update. GSR has already cautioned that its opinions and estimates can change without notice as market conditions change.

The firm also warns against treating Core3 results as returns available from a live strategy. Its published figures are hypothetical, gross of transaction and management fees and exclude staking rewards. GSR further states that it may trade the assets for its own account and may hold positions that differ from the views expressed in its commentary.

2 hrs ago

2 min read

Solana neared the network freeze threshold Wednesday. (Marinade)Summary

A routing failure at a major data center provider briefly knocked nearly 29% of Solana’s staked tokens offline, bringing the network close to a full halt, according to staking platform Marinade.Because Solana stops finalizing transactions if more than one-third of staked tokens go offline, the incident left the network within about 20 million tokens of a freeze similar to a five-hour outage in February 2024.The glitch, traced to a bad internet route originating at Teraswitch’s Miami facility and spreading to data centers in Europe and Asia, exposed the risk of relying on a single connectivity provider that controlled more than a quarter of all staked tokens.Solana nearly froze on Wednesday morning when a routing glitch at a major data center provider knocked almost 29% of the network’s staked tokens offline, staking platform Marinade said.

Finality, the point at which blockchain transactions become irreversible, stops if more than a third of the coins staked go dark. Staking refers to act of locking coins in a blockchain network to secure it in return for rewards.

Marinade said that the network came within about 20 million tokens of that threshold. Roughly 90 validators were hit and together lost 333 SOL in rewards, a relatively small sum that will be covered by “validator bonds.”

“If delinquency had gone past a third, nothing finalizes for anyone holding SOL anywhere, and there's no bond for that. The February 2024 halt took about five hours to restart,” Marinade said in an explainer post.

Solana is one of the leading smart contract blockchains, with assets worth $4.3 billion locked in DeFi protocols operating on the network. The blockchain has built a reputation as a faster and cheaper alternative to industry leader Ethereum, but has faced several outages in the past.

The latest issue started with a bad internet route from Teraswitch’s Miami facility that then spread to data centers across Europe and Asia, cutting off validators in London, Amsterdam, Frankfurt, Singapore and Tokyo. North America stayed online. The company fixed the issue in about 10 minutes, and traffic was flowing again by 4:16 a.m. UTC.

One single network operator, identified as AS2032, controlled more than a quarter of all the tokens people had locked up to secure the network, which was more than the Solana-prescribed safety limit. Almost all of those tokens went offline at the same time. Other companies lost another 14 million tokens in the same short period. Most of the affected validators, including the big one called Helius, stayed offline for the full 33 minutes because their backup systems never switched on.

This whole event is a clear warning: if more than one-third of the network’s tokens ever go offline at once, the entire blockchain freezes for every single person holding SOL, and there is no quick way to fix the bigger damage that would follow.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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Building the Zcash Machine: Tachyon and Quantum Readiness

Building the Zcash Machine: Tachyon and Quantum Readiness

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Jun 30, 2026

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Why it matters:

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Roughly 28.83% of staked SOL dropped offline on Solana following a routing failure, bringing the network uncomfortably close to the 33.34% mark where transaction finality grinds to a halt. That’s a margin of about 4.5 percentage points between normal operations and a network that can no longer confirm transactions are permanent.

How close was too close Solana’s consensus mechanism, Tower Byzantine Fault Tolerance (BFT), requires roughly two-thirds of all staked SOL, about 66.67%, to actively participate in order to finalize transactions. Flip that around, and it means if more than 33.34% of stake goes dark, the network loses the supermajority it needs. Blocks might still be produced, but nothing gets stamped as irreversible.

At 28.83% offline, Solana was roughly 4.5 percentage points from that cliff. In practical terms, just a few additional large validators going delinquent could have tipped the balance.

Validators that go offline on Solana don’t face slashing penalties, the punitive mechanism some other proof-of-stake chains use to discourage downtime. Instead, they simply stop earning rewards.

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Solana’s uptime streak and its limits Before this incident, Solana had been on an impressive run. The network’s last recorded full outage dates back to February 2024, and the official status page had shown all systems operational for over 30 months straight.

A network can keep producing blocks while still being unable to finalize them if enough stake goes delinquent. The 30-month streak refers to full network halts, where block production itself stops. The routing failure exposed a scenario where the chain could remain technically “up” while losing its ability to confirm that transactions are permanent.

Reports from 2026 have shown up to 32 validator delinquencies within a 30-day window on Solana. Most of these stem from mundane causes: hardware failures, misconfigured software, or connectivity problems. What made this incident different was the scale. Having nearly 29% of stake affected simultaneously points to a systemic issue rather than scattered individual failures.

The Alpenglow factor Solana has been working on a major protocol upgrade called Alpenglow, which aims to compress transaction finality down to approximately 100-150 milliseconds.

One notable design philosophy behind Alpenglow is that it prioritizes safety over liveness. The upgrade is built so the network would rather pause block production entirely than risk confirming transactions that might later prove inconsistent.

Alpenglow also introduces a fault-tolerance model that distinguishes between validators that are actively malicious and those that are simply offline due to passive failures like the routing issue that caused this incident.

What this means for Solana’s competitive position The lack of slashing penalties is likely to draw renewed debate. Proponents argue it keeps the validator set accessible and avoids punishing operators for honest mistakes. Critics counter that without meaningful financial consequences for downtime, there’s insufficient incentive for validators to invest in the kind of redundancy that prevents large-scale simultaneous failures.

For SOL holders who stake their tokens, validators that were offline missed out on staking rewards during the downtime, which flows through to their delegators as reduced returns.

Solana’s consensus model is designed to tolerate up to a third of stake going offline, and this incident tested that boundary more aggressively than anything since the February 2024 outage.

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

7 hrs ago

2 min read

Anthony Soohoo, Chairman and CEO of MoneyGram, speaking at Consensus 2026 (CoinDesk)Summary

MoneyGram is extending its cash-to-crypto service, MoneyGram Ramps, to the Solana blockchain, allowing wallets, exchanges and developers on Solana to connect to its global cash network.The service lets users convert between cash and digital assets, supporting cash deposits in more than 25 countries and withdrawals in more than 170 countries and territories.The move deepens MoneyGram’s push into stablecoin-based payments and remittances, building on its earlier USDC cash-on/off-ramp with Stellar and the launch of its own dollar-backed stablecoin, MGUSD.MoneyGram is bringing its cash-to-crypto infrastructure to Solana (SOL), extending the money-transfer company's push into blockchain rails to connect stablecoins and digital wallets with its sprawling global cash network.

The company said Tuesday that MoneyGram Ramps has become available to wallets, exchanges and developers building on Solana. The service lets users convert cash into digital assets or cash them out through MoneyGram's payment network without each crypto app having to build its own connections to banks and cash outlets.

The service allows someone holding crypto in a supported wallet to turn it into local currency using MoneyGram's network. Users can also deposit cash to access digital assets. Ramps supports cash deposits in more than 25 countries and withdrawals across more than 170 countries and territories, the firm said.

The move comes as stablecoins are increasingly being used beyond crypto trading, in payments and remittances. Fintechs, banks and payment companies are increasingly experimenting with dollar-pegged tokens to move money across borders without relying on chains of correspondent banks.

MoneyGram, which serves roughly 60 million active customers, views blockchain rails as a way to make cross-border transfers faster, cheaper and easier to track, without requiring customers to think about the technology powering them. Ramps fits into the vision as it connects digital assets into MoneyGram’s extensive brick-and-mortar network to help everyday customers turn tokens into local cash.

“The future of payments is built on access,” MoneyGram CEO Anthony Soohoo said in a statement. “Bringing MoneyGram Ramps to Solana is another step toward building a truly open, global payments network.”

MoneyGram has spent several years building connections between its traditional payments network and crypto. In 2022, it rolled out a service with the Stellar Development Foundation that allowed users to move between cash and Circle's USDC stablecoin through its retail network, giving crypto wallets a physical entry and exit point for digital dollars.

The firm took that strategy further in June, announcing MGUSD, its own dollar-backed stablecoin issued by Bridge, the stablecoin infrastructure company owned by Stripe, on the Stellar XLM$0.1611 network.

The company has also been deepening its ties with Solana, becoming a validator in June, helping process and secure transactions on the network.

MoneyGram was also listed as a one of the partners in Open USD, the Stripe-led stablecoin initiative that aims to share revenue with a consortium of backers.

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Building the Zcash Machine: Tachyon and Quantum Readiness

Building the Zcash Machine: Tachyon and Quantum Readiness

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Jun 30, 2026

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Why it matters:

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

With crypto showing strength against volatility and uncertainty in broader markets, institutional players appear to be once again allocating to $SOL.

Led by Bitwise’s $BSOL, Solana ETFs are on track for one of the best weeks in months, suggesting allocators are dipping their toes back into crypto markets.

Meanwhile, onchain activity and application revenue is awakening from its bear market slumbers, consistently pushing new highs in Solana’s non-vote transaction count.

$BSOL Leads Solana ETF Drive Wall Street is getting back into crypto. After many months of languishing prices and stagnant market activity, institutional capital is back on the move, and crypto ETFs have witnessed an uptick in flows.

According to Sosovalue data, Bitcoin ETFs have just recorded their best week since April 17, with buyers outpacing sellers and spearheading $853M in net inflows. Returning institutional demand had a powerful impact on $BTC’s market value, pushing the internet’s favorite store-of-value back to the $65,000 price mark and completing a 4% move.

With confidence returning to $BTC, and crypto markets in general, allocators now appear to be shifting their attention down the risk curve. On August 10, Bitwise’s Solana ETF, $BSOL, witnessed over $8.83M in net inflows, its strongest single day performance since May 12th. 

Monday’s impressive performance is an encouraging sign for the week ahead. While nothing is set in stone until Friday’s market close, Solana ETFs are currently on track for their strongest week since May.

Onchain Activity and App Revenue Climbs Renewed institutional flows into Solana ETFs come following a significant increase in user activity. Driven largely by memecoin fervor and speculation, Solana’s onchain economy has recorded new all-time highs in non-vote transactions for the last two consecutive days, suggesting runaway demand for blockspace.

With traders rejoining the memecoin race in droves, application revenue across the ecosystem is steadily climbing. Led by applications like pumpfun, fomo, and Collector Crypt, Solana’s weekly application revenue hit $23.9M last week, its highest point since February 2026.

In the coming weeks, the Solana community is expected to vote on a governance proposal designed to resolve outstanding tokenomics issues surrounding $SOL value capture. Authored by cavemanloverboy, SGP-003 suggests implementing a resource fee, forcing a programmatic $SOL burn based on the complexity of onchain transactions.

With onchain activity steadily returning, a potential token burn mechanism could have a significant influence on $SOL’s market dynamics. SGP-003 advocates claim that surging onchain activity will amplify $SOL’s burn rate, adding a scarcity premium to the asset that may result in greater value appreciation long term.

$PUMP Leads Solana Ecosystem Coins As confidence and bullish optimism flood back into crypto markets, certain Solana ecosystem coins are rallying. Outside memecoins, $PUMP leads the network’s established project tokens, surging 22% in the last 7D.

$PUMP’s price action is largely supported by its buyback-and-burn mechanism, which routes 50% of all protocol revenue to purchasing $PUMP directly off the open market.

Since the inception of the program, pump.fun has spent over $425M on buybacks, removing 15.82% of the coin’s total supply from circulation.

Read More on SolanaFloor MoneyGram Deepens its Ties with Solana

MoneyGram Ramps Goes Live on Solana, Shoulder-Taps Rift as First Integration

How Does SGP-003 Fix $SOL's Tokenomics?

Solana is preparing for a major governance vote set for August 23 to 29, which could see nearly 18.9 million SOL removed from the network’s long-term issuance plans. At current valuations, the reduction would prevent about $1.39 billion worth of SOL from being minted in the future, according to a detailed analysis by Fire Hustle.

Proposals aim to reshape issuance and burn dynamicsThe upcoming vote will assess two major proposals targeting Solana’s tokenomics. The first, SGP-0002, seeks to accelerate the network’s path toward its eventual 1.5% annual issuance floor. Under the current system, this milestone would be reached in nearly six years, but the proposal aims to shorten the timeline to less than three years.

Solana’s annual issuance rate started at 8% and has already decreased to around 3.8%. The network now distributes roughly 60,000 SOL per day as validator rewards, making this proposal a potential turning point for how quickly new tokens enter circulation.

Fire Hustle highlights that the first proposal will not affect the eventual issuance rate, but rather accelerates when it is achieved, with significant implications for long-term sell pressure and validator payouts.

A second proposal, SGP-0003, covers Solana’s transaction fees. It would allocate a base fee to validators, while a compute-based fee component would be fully burned. Initial estimates suggest the daily burn could jump from around 648 SOL to 1,500 to 1,800, with the potential to reach 7,500 to 9,000 SOL once fully implemented. Despite these increases, overall issuance would continue to outpace the amount burned.

Validator impact and community stakesThe proposed changes have raised concerns among smaller network validators. Fire Hustle estimates that maintaining a validator costs about 350 SOL annually, yet many small operators already face losses due to limited delegated stake and low commission income. Currently, around 290 validators are operating at negative margins, a number that could rise to 320 within three years if the issuance declines as planned.

The Solana Foundation’s gradual reduction in delegation support for these smaller validators may add further pressure. Helios, regarded as Solana’s largest infrastructure provider, and Jupiter have emerged as major supporters, committing 16 million SOL and 12.47 million SOL respectively in backing the new proposals. Fire Hustle points out that Helios engineers played a significant role in drafting both measures.

The analyst describes the vote as a pivotal moment for Solana’s economic model, especially regarding whether the network can adjust monetary policy without destabilizing incentives for its validator base.

Governance changes and broader implicationsSolana’s new on-chain governance enables stakers to override their validator’s vote directly, adding democratic flexibility to the process. This development could be decisive, since a comparable proposal in March 2025 attracted more than 74% participation but failed to garner the 66.6% required approval threshold, closing with only 43.6% in favor.

With community turnout and ongoing market demand both critical for the outcome, the network’s broader supply and incentive structure remains in focus. If adopted, these measures would not create an immediate price impact, but rather test the project’s ability to balance sustainable issuance with validator rewards—a key element of long-term network health.

For users navigating these proposed technical changes and seeking real-time market reactions, platforms like CryptoAppsy offer a streamlined solution. By aggregating investments, real-time price data, and detailed portfolio analytics on one dashboard, users can follow live macroeconomic data such as Fed rate decisions, set smart alerts, and track relevant news for any coin under discussion—helping investors stay agile as protocol changes unfold.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Solana’s mainnet has now operated without a single network-wide outage for 30 consecutive months, a streak that would have sounded like science fiction to anyone following the blockchain in 2022.

The last full cluster-level outage occurred on February 6, 2024, when an infinite recompile loop bug knocked the network offline for roughly five hours. Since then, roughly 913 days of uninterrupted block production.

From punchline to proof of concept Official status reports confirm 100% uptime for June, July, and August 2026, with the network processing high transaction volumes throughout without any consensus failures or halts.

The turnaround didn’t happen by accident. It came from a comprehensive protocol overhaul that touched nearly every layer of the stack. Three upgrades stand out as particularly consequential.

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First, the deployment of Firedancer, a second independent validator client built by Jump Crypto. Running multiple validator clients means a bug in one doesn’t necessarily bring down the whole network.

Second, a reworked fee market that replaced the old flat-fee model with a priority fee structure. This gave the network a more intelligent way to manage congestion instead of simply choking under load.

Third, enhancements to the QUIC protocol, the transport layer that handles how data moves between validators. These changes targeted the spam and bot traffic that had been a root cause of several earlier outages.

The asterisk worth noting Cluster-level uptime and individual validator health are two different things. The Solana Foundation itself acknowledges this distinction.

While the network as a whole has maintained perfect uptime, individual validators have reported issues. In one 30-day span, up to 32 delinquencies were logged from specific nodes. A delinquency means a validator temporarily fell out of consensus, which can happen for reasons ranging from hardware failures to software misconfigurations.

A 100% uptime figure for the cluster means the chain kept producing blocks and finalizing transactions without interruption. It doesn’t mean every single node had a flawless experience. For validators running their own infrastructure, monitoring and maintenance remain critical.

What 30 months of uptime actually changes Reliability is the table stakes requirement that unlocks everything else. Without it, institutional adoption stays theoretical and developer migration stays tentative. With it, Solana’s other selling points, its speed and low transaction costs, actually become usable at scale.

SOL, Solana’s native token, sits at the center of this narrative shift. Staking rewards, transaction fees, and network participation all flow through SOL, meaning improvements in network perception directly affect demand dynamics for the token. Validators must stake SOL to participate, and higher confidence in the network’s stability could draw more validators and more staked capital into the ecosystem.

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

Solana price rallied nearly 7% from its Aug. 7 low, breaking a five-week descending channel as proposed supply changes and institutional adoption renewed demand for SOL.

Summary

Solana price rose from $72.49 to $77.36, breaking above a five-week descending channel. 4-hour Supertrend support flipped bullish at $75.02, strengthening the breakout structure. Liquidation clusters at $78 and $80 could accelerate gains if buyers maintain control. Daily momentum remains mixed, leaving $74–$75 as the main breakout invalidation zone. According to data from crypto.news, Solana (SOL) price traded around $76.93 on Aug. 10, up nearly 7% from its Aug. 7 low of $72.49. The recovery pushed SOL through the upper boundary of a descending channel that had controlled its price since early July.

The 4-hour chart shows that SOL first reclaimed $74.30 before breaking the channel near $75. The price then climbed to an intraday high of $77.36, where buyers encountered initial resistance.

Solana price 4-hour chart — Aug. 10 | Source: crypto.news Trading volume expanded during the breakout, while the bull-bear power indicator rose to 1.23. A positive reading indicates that buyers currently have more short-term control than sellers.

The Supertrend indicator has also flipped below the market and now provides dynamic support at $75.02. Holding above this level would keep the 4-hour structure bullish and could turn the former channel resistance into support.

Crypto analyst Dami-Defi identified the same structural change in an Aug. 10 post on X.

“SOL just broke a five-week downtrend,” the analyst said.

The breakout does not yet confirm a broader trend reversal, however. SOL remains well below its May swing high near $97 and its January peak above $145.

What is driving the SOL recovery? The rally coincided with growing validator support for two proposals designed to reduce Solana’s future supply growth.

SIMD-0550 would increase the annual disinflation rate from 15% to 30%, bringing the network toward its terminal inflation rate faster. SIMD-0553 would introduce resource-based transaction fees and could raise daily SOL burns from about 650 tokens to between 7,500 and 9,000.

The formal governance process is expected to run through Aug. 18. The proposals remain subject to validator approval, meaning their projected supply effects are not guaranteed. Solana’s governance forum describes SIMD-0550 as a doubling of the pace at which inflation declines.

Institutional developments have added another source of demand. BlackRock recently unveiled its Daily Reinvestment Stablecoin Reserve Vehicle, which can record fund ownership across several public blockchains, including Solana. The product holds cash, short-term U.S. Treasuries and repurchase agreements rather than SOL itself.

Western Union has also expanded its use of the network. Its USDPT stablecoin is issued on Solana by federally regulated Anchorage Digital Bank, while a related Stablecard product launched across 37 markets. Western Union formally launched USDPT on Solana in May.

These developments do not directly require institutions to purchase SOL in large amounts. They do, however, strengthen Solana’s case as infrastructure for regulated funds and dollar-based payments.

SOL targets $78 liquidity before $80 The three-day liquidation heatmap shows the nearest concentration of leveraged positions around $77.80–$78.20. This zone matches the next horizontal resistance visible on the 4-hour chart.

Solana liquidation chart | Source: CoinGlass A break above $78 could trigger another round of short liquidations and open a move toward $80. The upper section of the former channel and previous July swing levels place the next larger resistance between $82 and $84.

Dami-Defi’s chart projects a possible move toward $83 if SOL successfully retests the broken trendline.

Michaël van de Poppe offered a more ambitious longer-term outlook. In an Aug. 10 market update, he said SOL had formed a higher low against Bitcoin and forecast a possible recovery toward $100–$120.

A deep correction on $SOL vs. $BTC.

However, the recent push upwards is a strong signal on why you should be buying after these corrections have been taking place.

It's up 5% since the test of this region and I think that we're going to see a stronger move upwards on $SOL.

The… https://t.co/VRCEkgV9rG pic.twitter.com/zcQ6YzUKiJ

— Michaël van de Poppe (@CryptoMichNL) August 10, 2026 That target would require SOL to reclaim several resistance zones that are not visible in the current short-term breakout. The first tests remain $78, $80, and $83.

Daily Solana chart still needs confirmation SOL’s daily chart is improving, although it has not produced a fully confirmed bullish reversal.

Solana price daily chart — Aug. 10 | Source: crypto.news The price has moved above the Ichimoku conversion line at $74.89 and the baseline at $74.73. SOL is also attempting to clear the upper edge of the cloud around $76.93, making the current area an important daily closing level.

A sustained close above the cloud would strengthen the case for a move toward $80–$84. Rejection near $77, however, could send SOL back to test the Ichimoku cluster between $74.73 and $74.89.

The Awesome Oscillator remains slightly negative at -0.46. Its red bars have contracted and the indicator is moving toward zero, suggesting bearish momentum is fading but has not yet reversed completely.

Liquidation data reinforces the downside levels. Large long-liquidation concentrations sit around $75.70, $75.10 and $72.80. If SOL loses $75, forced selling could pull the price toward $73 before buyers regain control.

US developments remain a key SOL catalyst Solana’s institutional adoption has become increasingly tied to regulated U.S. financial infrastructure. BlackRock’s fund structure involves tokenized ownership of Treasury-backed assets, while Western Union’s USDPT is issued by a U.S. federally chartered crypto bank.

The next network catalyst is the planned Alpenglow rollout. The upgrade aims to reduce transaction finality from about 12.8 seconds to between 100 and 150 milliseconds, with implementation expected in stages between August and October if testing proceeds as planned.

For now, SOL’s 4-hour breakout favors buyers while the price remains above $75. A daily close above $78 would provide stronger confirmation and shift focus toward $80–$84. Losing $74 would place the breakout at risk and reopen the path toward $72.80.

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

Solana now has more monthly USDC senders than any other blockchain, with the figure hitting approximately 6 million. That is not a rounding error or a one-month spike. It is the latest data point in a sustained climb that has turned Solana into the closest thing crypto has to a mainstream payments network.

For context, that sender count has grown more than tenfold since late 2023.

The numbers behind the milestone February 2026 was a watershed moment for the network. Stablecoin transaction volume on Solana hit $650 billion that month, a record for any blockchain within a single calendar month. That figure more than doubled the previous peak.

USDC makes up the majority of that stablecoin activity. The network is currently estimated to hold between $8 billion and $12 billion in USDC supply, supported by continuous minting operations that keep liquidity deep and user confidence stable.

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Weekly transaction counts on Solana have crossed 1 billion, underscoring that the 6 million sender figure is not an artifact of a few whales moving large sums. It reflects genuine, broad-based usage across the network.

The use cases driving this volume are notably mundane, in the best possible way. Salary disbursements, peer-to-peer transfers, and retail payments account for a meaningful share of activity.

Why Solana and why now Part of the answer is that USDC itself has matured. Circle’s stablecoin has increasingly become the default dollar-equivalent for on-chain commerce, and payment application developers picking a settlement layer have gravitated toward Solana’s combination of sub-second finality and fees that are measured in fractions of a cent.

Integration with consumer-facing payment applications has also accelerated the trend. Each new app that routes USDC through Solana adds another cohort of senders to the base, many of whom may not even know which blockchain they are using.

The tenfold growth in the sender base since late 2023 roughly tracks with the post-FTX recovery of the Solana ecosystem. After the FTX collapse created significant reputational damage, the network rebuilt its developer community and application layer faster than many observers expected.

What this means for the competitive landscape Ethereum remains the dominant chain for total stablecoin supply and DeFi activity. But Solana’s lead in monthly unique USDC senders points to a divergence in use cases. Ethereum is where large institutional flows and complex smart contracts tend to settle. Solana is where the transaction count lives.

For SOL as an asset, rising network utility generally creates sustained demand for the token, which is used to pay transaction fees. A billion weekly transactions, each consuming a small amount of SOL for fees, creates consistent buy pressure that is structurally different from speculation.

The next thing to watch is whether Solana’s stablecoin dominance in sender count eventually translates into a comparable lead in total stablecoin supply. Right now, Ethereum still holds the largest absolute stock of USDC across all chains.

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

Table of contents

July rattled crypto from multiple directions. Coldcard hardware wallet security fears, Strategy’s Bitcoin liquidations, Robinhood Chain’s network growth, and the CLARITY Act all landed in the same monthly window, hitting trust assumptions across retail and institutional participants alike. The latest Santiment insights frame these events alongside two other developments that are quietly redrawing market structure: BlackRock pushing tokenized equities onto Solana, and Thailand waiving capital gains tax on qualifying crypto gains for five years.

While on-chain activity in July often felt reactive, the bigger signal may be how capital allocators are starting to reposition around infrastructure that can actually settle institutional flows. Solana’s deepening role in real-world asset tokenization and Thailand’s deliberate lunge for digital-asset hub status are not isolated. They sit inside a broader competition where network throughput, regulatory clarity, and tax incentives determine where the next wave of liquidity gets parked.

Tokenized Equities Move to Solana’s Rails BlackRock’s expanding tokenization efforts are no longer confined to Ethereum rollups or private permissioned venues. The asset manager is now putting Solana deeper into the conversation around institutional finance, with tokenized stocks and funds beginning to surface on the network. This follows months of groundwork around Solana Pay, stablecoin settlement, and proposed SOL tokenomics adjustments that collectively reshape what a layer-1 can offer large issuers. The tokenization sector is accelerating fast, with real-world assets crossing $20 billion on-chain and traditional settlement infrastructure getting carved up.

For Solana, the implication is a dual-track identity: a chain that hosts retail meme-coin mania one week and BlackRock tokenized securities the next. That split has consequences. It forces validators, custody providers, and compliance teams to support both high-frequency degenerate markets and regulated asset issuance under the same consensus. Whether that hybrid model can hold up under sustained institutional load remains an open question, but the direction of travel is clear.

A Regulatory Vacuum That Thailand Is Exploiting Thailand’s five-year capital gains exemption on qualifying crypto gains landed as a direct policy maneuver to siphon talent and volume away from jurisdictions that are still tangled in legislative gridlock. While the United States debates bills like the GENIUS Act amid heavy bank lobbying, smaller countries are placing onshore tax incentives at the center of their playbook. The frustration among U.S. traders is predictable, but the market impact goes deeper: a growing share of active trading desks may route through jurisdictions that treat digital assets with fiscal consistency rather than constant regulatory whiplash.

Thailand’s move pairs a retail-friendly tax break with an institutional invitation. The policy does not cover every token or every trade, and qualification details matter for anyone structuring operations. Still, it creates a template that other Southeast Asian jurisdictions will now have to match or risk losing their own liquidity pools. The intersection of tax policy and market structure is no longer a footnote—it is becoming a primary driver of where volume concentrates.

AUTHOR

Nicholas Otieno is a fintech writer specializing in cryptocurrency markets. Since 2019, he has written articles to educate readers about cryptocurrency and its substantial positive impact on global prosperity. Nicholas is a Bitcoin holder, believing firmly in its fundamentals. His work has been featured in publications such as Finance Magnates, Blockchain.News, Bitcoin Magazine, Coincub, and among others. When he's not writing, Nicholas enjoys performing domestic tasks, spending time with friends, listening to music, and watching football.

Any proceeds from a sale of the exchange's tech stack, brand and IP go to FAF holders pro rata, with team tokens excluded from the distribution.

Flash Trade said on Friday it will wind down operations unless it finds a party to acquire the Solana perpetuals exchange, and that the decision was not driven by money.

"This decision is not calculated based on monetary reasons," the team wrote on X, citing "direction, shrinking market participants, and our own honest read on the crypto market as a whole and where it is heading."

The exchange said it is now pursuing a sale of its tech stack, brand and intellectual property, and that whatever the sale brings will be distributed to FAF token holders pro rata. The team "will not take a percentage," and team tokens will not participate in the distribution, according to the post.

Flash Trade has not set dates. "We haven't fixed the exact timeline yet, and we'd rather say that than publish dates we might have to move," the team wrote, committing only that withdrawals stay open and that it will give "clear notice well ahead of any change to them."

The operational specifics — when new positions are disabled, how open positions get settled, what liquidity providers need to do, and the dates for each — will be worked through on a call with token holders on Monday, with a write-up published immediately afterwards, the exchange said. The founders will hold an AMA on X on Monday, Aug. 10, at 16:00 UTC, or noon ET.

Explored Freezing AMMBefore settling on a sale, the team said it explored freezing its automated market maker with MetaDAO so that funds sitting in the AMM could be returned to holders pro rata. "That turned out not to be possible," according to the post.

Flash Trade also removed the three-month delay on token staking, so holders who want to unstake can do so immediately.

Alongside its read on the market, the team described a conflict over what its users wanted. "Ethically we are misaligned with the current direction of the crypto ecosystem," it wrote, adding that its own order flow showed "traders want to push further out on the risk curve" and that "we never found a way to serve that demand while sitting comfortably."

The exchange said it never raised outside capital, funding itself from the start, and has paid out roughly $520,000 in USDC of revenue share to FAF holders to date.

Perpetuals venues have been closing even as the sector's largest platforms grow. Dango said in July that it would wind down and halt trading on July 29.

Perpetual futures open interest across Solana-based platforms has climbed to $500 million, marking its highest point in nine months. The milestone signals that traders are returning to Solana’s on-chain derivatives venues after a relatively quiet stretch, even as the network still commands a relatively small slice of a market dominated by heavyweights like Hyperliquid.

To put that number in context, Solana-based perpetual venues accounted for roughly 3% of the total open interest market share and about 2% of volume market share during Q1 2026. Those figures were actually down from peaks hit in 2024, making this $500 million mark feel less like a new frontier and more like a comeback tour.

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What’s driving the rebound One standout is PhoenixTrade, a decentralized exchange built by Ellipsis Labs, which hit a record open interest of between $10 million and $11 million in late July 2026. That represented a roughly 25% jump from PhoenixTrade’s previous high of $8.8 million set in June.

A chunk of that growth traces back to a fairly straightforward catalyst: money. PhoenixTrade launched an incentive program called Flight Club, distributing $420,000 to users. The initiative spiked the platform’s daily trading volume to $67.1 million.

Meanwhile, the broader SOL futures market has seen its own fireworks. Total open interest for SOL token futures across all platforms, including centralized exchanges, sat near $1.8 billion in early August 2026. That’s a dramatic jump from $429 million recorded in May, reflecting both rising prices and increased speculative positioning on the token itself.

The competitive landscape Solana’s on-chain perps ecosystem has been building steadily, but it still operates in the long shadow of more established platforms. Hyperliquid, which runs its own appchain, continues to dominate the decentralized perpetual futures market by a wide margin in both volume and open interest.

The network hasn’t been without setbacks, though. Earlier in the year, the Drift hack put a dent in trader confidence across Solana’s DeFi ecosystem. Drift had been one of the larger perpetual futures platforms on the network, and the incident served as a reminder that smart contract risk remains a persistent concern for on-chain derivatives venues.

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

Solana processed $650 billion in stablecoin transactions in February 2026, the highest monthly stablecoin volume ever recorded on any blockchain. To put that number in perspective, it doubled Solana’s previous record set just four months earlier in October 2025.

For the first time, Solana surpassed Ethereum in monthly stablecoin volume.

What actually drove $650 billion in volume Jupiter, one of Solana’s dominant decentralized exchange aggregators, launched JupUSD, a stablecoin backed in part by BlackRock’s BUIDL fund. BlackRock’s footprint on Solana didn’t stop there. The asset manager cleared $550 million onchain through the network. Citigroup also ran tokenized trade finance experiments on the network during the same period.

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Non-USDC and non-USDT stablecoins surged nearly 10x on Solana since January 2025. Western Union partnered on USDPT, another new product added to the ecosystem. The stablecoin supply on Solana sat at roughly $15 billion in February and climbed to $17 billion by March 2026.

The broader Solana picture in February DeFi total value locked on Solana reached an all-time high of $95 billion, measured in SOL-denominated terms. The network also logged over 3.4 billion non-vote transactions during the same period.

February 2026 included fresh tariff announcements and a wave of market liquidations that rattled crypto broadly. Despite that pressure, stablecoin supply on Solana held steady and then grew.

What this means for investors and the competitive landscape The growth of non-USDC/USDT stablecoins is worth watching closely. That segment nearly 10x-ing since January 2025 suggests the ecosystem is diversifying beyond the two dominant dollar stablecoins. New entrants backed by institutional collateral, like JupUSD, could accelerate that trend further.

Investors watching Solana should track whether institutional transaction volume continues to grow as a share of total stablecoin activity, whether the $17 billion stablecoin supply figure keeps rising through mid-2026, and whether competing chains respond with product launches or fee adjustments that could slow Solana’s momentum.

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

@Icmfun has launched what it describes as the first stock-backed payment protocol on @Solana, allowing users to spend tokenized equities directly at the point of sale through Apple Pay. The infrastructure powering the card comes from @Zebec_HQ, a decentralized payments network with roots in real-time, continuous settlement.

Spending Stocks at the Point of Sale The card supports real-time settlement across 15 primary stocks, including $META, $AAPL, $NVDA, and $MSFT. Rather than selling shares through a traditional brokerage and waiting for funds to clear, users can convert their tokenized equity holdings into spendable capital immediately at checkout. The integration bypasses the standard T+2 settlement window that governs conventional equity markets, a delay that has long been a friction point between investment portfolios and everyday spending.

The broader context matters here. Traditional financial rails are widely seen as overdue for an upgrade, and Solana has been positioning itself as the infrastructure layer for the next evolution in capital markets, with $21 billion in real-world assets already tokenized on public blockchains as of May 2025 and McKinsey projecting $2 trillion by 2030. The @Icmfun card is one of the first consumer-facing products to translate that infrastructure into a practical, everyday payment tool.

Zebec's Role as the Settlement Layer @Zebec_HQ is a decentralized infrastructure network for real-world value flows, having consolidated multiple protocols and integrated a portfolio of blockchain-enabled RWA payment, payroll, and retail products into an interconnected and interoperable infrastructure network. Its continuous settlement protocol enables real-time, perpetual money streams, targeting the elimination of delays and improving transparency across financial transactions.

Zebec's product lineup already includes real-time payroll, a traditional payroll app called WageLink with built-in web3 features, payment cards, and DePIN with its own point-of-sale systems. The @Icmfun integration extends that infrastructure into a new category: stock-backed consumer spending.

The move reflects a growing push on Solana to bring capital markets on-chain in a way that is accessible to ordinary users. Internet Capital Markets envision a future where anyone with an internet connection can participate in tokenized equities and on-chain economic systems, with dramatically reduced barriers to entry and fewer intermediaries. Connecting that vision to a payment card that works through Apple Pay is a meaningful step toward making that future tangible.

Sources:
Solana: Tokenized Equities on Solana
CoinMarketCap: Zebec Network (ZBCN)
Helius: Internet Capital Markets on Solana

Solana’s deflationary momentum just got another boost.

On the 4th of August, Solana’s Resource and Inclusion Fee proposal cleared the initial voting stage.

If approved, the proposal could increase daily SOL burns from 650 to 9,000 SOL, nearly a 14x increase. This could strengthen Solana’s deflationary narrative and become another bullish factor for its tokenomics. 

The scale of the change is what makes it notable.

How much could SOL inflation fall? As the chart below shows, analysts expect the proposal to reduce SOL emissions by around 18.9 million tokens over six years, worth $1.39 billion at current valuations.

In simple terms, Solana may reduce the number of new SOL tokens entering the market by 18.9 million over the next six years. Under the current inflation schedule, Solana would have created these tokens over time.

Source: X So, by 2032, this could significantly lower SOL’s supply growth, reducing future inflation pressure. That said, the proposal still needs 15% stake support to advance to the final governance phase.

However, with this potential impact on SOL’s supply dynamics, it’s no surprise that market participants expect the proposal to move forward smoothly.

As a result, the focus after the recent vote quickly moved beyond whether it will pass and toward how it could shape Solana’s [SOL] outlook over the next six years. This has shifted attention toward SOL’s technical strength and long-term market structure. 

That said, some analysts believe the market may not wait six years to price in these changes. 

The technical case for Solana after a major tokenomics shift  One question has caught the most attention: What happens to SOL’s price if both proposals pass?

Solana currently has two active proposals that could shape how much SOL enters circulation by 2032. This is where the discussion gets interesting.

Notably, the market is now looking at whether lower emissions and reduced supply growth could create a stronger long-term setup for SOL.

One analyst highlighted that Solana currently issues around 65,500 SOL per day while burning approximately 650 SOL.

If both proposals pass, daily burns could rise to around 9,000 SOL, while SOL’s inflation could reach its minimum level in 2.8 years instead of 5.7 years. Put simply, Solana’s supply growth could slow much earlier than the six-year timeline suggests.

Source: X This is where the numbers start to matter. 

Can lower supply push SOL toward $100? If Solana burns 9,000 SOL per day, there could be 36.9 million fewer SOL in circulation by 2032.

At the same market valuation, that alone could make each SOL worth about 5.3% more. If daily burns increase to 27,000 SOL, the potential upside rises to 11.7%. At Solana’s previous all-time high, that would translate to about $32 more per SOL, assuming demand remains unchanged. 

Looking at Solana’s fundamentals, this thesis doesn’t seem far-fetched. If anything, it puts even more focus on the upcoming governance vote as a potential catalyst.

A successful vote could strengthen the case for a solid Q4 rally, with a move back toward $100 becoming increasingly realistic.

Final Summary Solana’s burn proposal has advanced to the next voting stage. If approved, daily SOL burns could jump from 650 to 9,000, strengthening its deflationary tokenomics. Analysts believe the reduced supply could become a key catalyst for SOL, with the upcoming governance vote potentially setting the stage for a stronger Q4 rally.

Solana has kicked off August by proving why it’s one of the most efficient L1.

On the fundamentals side, two major network upgrades are gaining momentum. The first is the deflationary upgrade, which has officially entered its final voting stage.

Meanwhile, SIMD-0525 is now live on testnet, cutting slot time from 400 ms to 350 ms as the first step toward a 200 ms slot time. Together, these developments point to a faster network, reinforcing Solana’s scalability thesis heading into Q4.

The key takeaway? The impact is already showing up on-chain. As the chart below highlights, Solana’s weekly transaction count crossed the 1 billion mark for the first time, reaching a record 1,012,226,009 transactions from the 27th of July to the 2nd of August.

Source: Blockworks In essence, Solana’s network upgrades aren’t just improving performance on paper.

Instead, they’re supporting record transaction throughput as on-chain activity continues to scale. From a fundamentals standpoint, that’s a strong signal.

Sustained transaction growth reinforces Solana’s core strengths, such as high TPS, low-latency finality, and the network’s ability to process more activity.

However, while the 1 billion weekly transaction milestone clearly validates Solana’s scalability, another key on-chain signal appears to be emerging.

If it continues to build, it could give Solana [SOL] an additional edge as the market heads toward Q4.

Tokenized gold pushes Solana to a new network milestone  The market is already calling August a “huge month” for Solana.

Interestingly, that narrative isn’t being driven by SOL’s price action. The token is up just over 1.8% so far this month, lagging Cardano’s 11% gain over the same period.

Instead, the focus has shifted to Solana’s fundamentals, with network upgrades driving the bullish narrative rather than short-term price speculation.

Notably, this is where the chart below becomes important. While the 1 billion transaction milestone confirms Solana’s growing network activity, another signal is starting to stand out.

Over the past year, Solana has led all major L1s in the growth of tokenized gold, one of the fastest-growing segments within the RWA market.

Source: BirdEye To put into context, since August 2025, Solana’s tokenized gold market cap has grown 689.1%, averaging 18.8% month-over-month growth.

That’s more than 2x the year-over-year growth recorded by BNB Chain and roughly 4.6x the growth seen on Avalanche and Ethereum.

The timing couldn’t be better. From a macro perspective, gold is regaining momentum, with spot prices climbing above $4,200/oz to their highest level since June 2022.

If the rally extends, it could drive fresh demand for tokenized gold, an area where Solana already holds a clear growth advantage. 

That, in turn, could further strengthen the on-chain activity and provide another fundamental tailwind for SOL heading into Q4.

Final Summary Solana hit a record 1 billion weekly transactions, showing its network upgrades are already driving stronger on-chain activity. Solana also leads the tokenized gold market. With gold prices rising again, that could give SOL another boost heading into Q4.

Solana’s tokenized gold market cap has exploded by 689% since August 2025, making it the fastest-growing blockchain for on-chain precious metals by a comfortable margin. Physical gold prices breached $5,000 per ounce in early 2026, and tokenized gold offers exposure with the added bonus of yield opportunities that a bar sitting in a vault simply can’t provide.

What’s driving the growth Three protocols are doing most of the heavy lifting in Solana’s tokenized gold ecosystem: Oro Finance, Matrixdock, and Streamex.

Oro Finance launched its $GOLD token in September 2025, offering holders an APY of 3-4% through institutional leasing arrangements. The project raised $1.5 million in pre-seed funding in March 2025.

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Matrixdock entered the Solana scene in February 2026 with XAUm, a token backed by LBMA-certified gold.

Streamex rounds out the trio with similar yield-bearing features, though the protocol hasn’t disclosed specific APY figures.

The bigger picture for tokenized gold The entire tokenized gold market has been on a tear, with total market capitalization approaching $4.8 billion to $6 billion across gold and silver assets. Sector-wide trading volume hit $90.7 billion in Q1 2026 alone.

Within that broader boom, Solana recorded an average quarterly growth rate of 213.2% through the first half of 2026, vastly outpacing the average across all chains during the same period.

Solana’s tokenized gold products aren’t designed to sit passively in a wallet. They’re built to plug into DeFi protocols as collateral, liquidity pool assets, and yield-generating instruments.

What this means for investors The risk side of the equation deserves attention. A 3-4% APY on gold sounds attractive until you consider the counterparty risk embedded in institutional leasing arrangements. If the institutions borrowing that gold run into trouble, token holders could face losses that a simple spot gold position would avoid.

There’s also concentration risk within Solana’s tokenized gold ecosystem. Three primary protocols serving an entire chain’s gold market means that any smart contract vulnerability or custody failure at one project could shake confidence across the entire sector.

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

The line between Wall Street and Web3 just got a little blurrier. Take-Two Interactive, the publisher behind Grand Theft Auto and NBA 2K, is listing tokenized equity on the Solana blockchain through Backpack Securities, giving investors a new way to get exposure to one of gaming’s biggest names.

The listing, arriving August 6, 2026, brings $TTWO to Solana as a tokenized representation of the company’s NASDAQ-listed shares. Each token is backed 1:1 by underlying TTWO stock and is redeemable for the real thing.

What tokenized equity actually means here Traditional equity markets close at 4 p.m. Eastern. Solana does not. $TTWO tokens can be traded around the clock, transferred wallet-to-wallet, and plugged into decentralized finance applications, things a standard brokerage account simply can’t do.

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Take-Two’s stock was trading at approximately $240 heading into the listing. GTA VI, originally slated for 2025 before being pushed back, is now locked in for November 19, 2026.

Backpack Securities and the tokenized equity playbook Backpack Securities previously launched $SPCX, a tokenized representation of SpaceX shares, which crossed over $1B in trading volume. The move to tokenize a publicly traded company like Take-Two is a slightly different play than SpaceX, which is private and where tokenization solves a genuine access problem. TTWO shares are already tradeable for anyone with a Schwab account. Here, the value proposition shifts more toward convenience, composability with DeFi, and global accessibility for investors in markets where US brokerage access is cumbersome or unavailable.

Backpack’s approach also introduces self-custody into the equation. Investors can hold $TTWO tokens in their own wallets, not in a brokerage account they don’t fully control.

What this means for investors watching both markets The 1:1 redeemability should keep $TTWO prices anchored to the underlying share price through arbitrage. If the token trades at a discount to the stock, someone buys the token, redeems it for shares, and pockets the difference. If it trades at a premium, the reverse applies.

For Solana specifically, landing a publicly traded blue-chip like Take-Two as a tokenized equity is a meaningful signal. If $TTWO volume follows the pattern $SPCX established, it adds another data point to the case that tokenized equities on Solana have a real user base, not just a theoretical one.

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