SOL trades near $106.5 after a 3.1% daily rise, while resistance remains close to the recent $110 high. Transaction V1 goes live Sept. 9, lifting Solana’s maximum transaction size from 1,232 to 4,096 bytes. Liquidity clusters around $115-$120, while a larger pool remains near $145-$150 on the current heatmap. Market analysts say $90.46-$94.83 support keeps a later wave 5 advance possible after wave 4 ends. Solana is trading near $106.50 after gaining about 3.1% over the past 24 hours. Price has recovered from the latest pullback and remains close to the recent $110 rejection area. The rebound comes before Solana’s Transaction V1 mainnet launch on September 9.
The upgrade expands transaction capacity and supports larger cryptographic workloads. Solana”s price has also gained about 2.6% over the past seven days. The recent recovery followed a sharp advance from the $75-$80 region during August.
As of press time, technical data shows liquidity building above the current market price. The nearest cluster sits around $115 to $120, while a larger pool remains near $145.
Solana Transaction V1 Arrives as Price Recovers Transaction V1 raises Solana’s maximum serialized transaction size from 1,232 bytes to 4,096 bytes. That change gives developers about 3.3 times more transaction space. The larger format can support ZK proofs, BLS signatures, large multisig setups, and confidential transfers.
Some workloads can therefore fit inside one atomic transaction. Solana Foundation guidance says legacy and v0 transaction formats will remain supported. Developers only need V1 when they require the larger transaction size.
Source: X
Address lookup tables are removed for the V1 format because 64 accounts can fit directly inside a transaction. Existing formats can still use their current structure.
Testnet activation began September 1, giving developers time to test compatibility before the mainnet release. Infrastructure providers also need compatible software to read V1 transactions correctly.
RPC clients, indexers, and data pipelines may otherwise return errors. QuickNode says supported applications must recognize transaction version 1 when reading blocks and transactions. Developers may also need newer SDK versions.
$115-$120 Becomes the First Solana Liquidity Zone The liquidation heatmap shows the nearest major liquidity concentration between roughly $115 and $120. That area sits above Solana’s recent $110 rejection. A continued recovery could bring the price closer to that cluster.
The heatmap does not guarantee a move, but it shows where leveraged positions remain concentrated. Solana recently advanced from the $75-$80 region before reaching the current $106 area.
The move has reduced the distance to the first overhead liquidity band. However, a failure to hold above $100 would weaken the short-term recovery. Price could then return toward recent breakout levels before another attempt higher.
$145-$150 Remains a Larger Upside Liquidity Pool The heatmap also shows a larger liquidity concentration around $145 to $150. That band has remained visible above the current market price. A move toward that area would first require Solana to clear the $115-$120 cluster.
Source: X
Price would also need to hold above nearby resistance after any breakout. The $145 region previously acted as resistance on the displayed chart. That makes the zone relevant beyond the liquidation data alone.
Markets can move toward areas containing concentrated leveraged positions, although liquidation maps do not provide fixed price targets. Other market conditions can change the path.
Wave 4 Structure Keeps $90.46-$94.83 in Focus More Crypto Online says the Solana price remains inside a corrective wave 4 structure after rejection near $110. However, the recent SOL price action has formed overlapping three-wave moves.
$SOL
Solana remains in a corrective wave 4 consolidation, with price continuing to move in overlapping 3-wave structures after the rejection from $110.
The current bounce could extend above the September 3 high as a B-wave before another C-wave decline completes wave 4. Holding… pic.twitter.com/9BM02uhJVP
— More Crypto Online (@Morecryptoonl) September 5, 2026
The analyst said the current bounce could move above the September 3 high as a B-wave. Another C-wave decline could then complete wave 4.
Support between $90.46 and $94.83 remains central to that setup. Holding the zone would keep a later wave 5 advance possible. A break below $90.46 would weaken the displayed bullish structure and point toward a deeper correction.
Solana (SOL) is drawing heightened investor attention as it approaches the critical $105 resistance level. After rebounding sharply from its June low near $65, SOL’s price recovery has reignited debate over whether the cryptocurrency can sustain its upward momentum and break through this key barrier.
Solana steadies near $105 after strong recoverySOL recently traded at $104.82, showing a 2.42% increase within 24 hours. The daily trading volume reached $5.25 billion, with Solana’s market capitalization now at $61.37 billion. This places SOL among the top tokens, accounting for 2.27% of the total cryptocurrency market value.
Market analysts view the $105 level as pivotal for Solana’s next major move. The price’s recent surge from the June bottom signals renewed interest, but the test at this resistance will determine if further gains are likely or if another pullback could emerge.
Potential for gains if $105 is reclaimedCrypto analyst Nehal outlined that a confirmed breakout above the $105 resistance could reinforce the current bullish setup and open the way for Solana to target higher price zones.
If SOL reclaims $105, the technical setup suggests a potential move to $120 and, in more bullish scenarios, towards $140.
However, a failure to hold above $105 might lead the price back toward lower support levels, with investors monitoring whether the bullish structure remains intact.
Technical analysis highlights key levelsRecent technical analysis indicates Solana may have completed its Wave (4) correction, positioning the token for an ascending wave. The main support zone resides between $94.50 and $95.50, while immediate resistance is set between $109.50 and $110.50.
Should SOL confirm a breakout above its resistance, analysts project initial upside targets at $110, followed by $112.50. Continued buying pressure could extend the rally to $116.50, which is viewed as the next notable target for the bulls.
The region around $94.50 to $95.50 remains critical for Solana’s bullish outlook; sustained trading below this area could increase the risk of further declines.
Rising trading volume alongside SOL’s recent price advances demonstrates active market participation. Still, a decisive move above $105 and then $109.50–$110.50 is needed for a clear confirmation of the next leg up.
The critical challenge now is for buyers to establish $105 as a new support level. Achieving this could shift the focus toward higher targets, while repeated rejection would put the $94.50–$95.50 support area under scrutiny.
In a landscape where a single Fed policy decision or a new altcoin listing can instantly disrupt the market, traders are seeking more efficient ways to monitor fast-moving developments. Smart investors now rely on privacy-first tools like CryptoAppsy, which offer real-time charting, instant price alerts, coin-specific news, and vital macroeconomic data in one interface—no account required—helping them to react swiftly and avoid costly delays associated with juggling multiple applications.
Per GMGN market data, STONK, the token of Solana-based token launch platform StonkFun, briefly broke through $180 million in market capitalization to hit an all-time high. It is currently trading at $170 million, with a 24-hour increase of 434% and trading volume of $71 million over the same period. BlockBeats reminds users that related tokens have high price volatility, so investment should be approached with caution.
Solana has been dominating the 24-hour DEX volume to this point.
But now it is being challenged. According to DeFiLlama data, Solana remains number one in a 30-day DEX volume with a cumulative DEX volume of more than $65 billion, over 2x larger than the second-ranked BNB Chain, and nearly 3x the volume of the Robinhood Chain.
But recently Robinhood has surpassed Solana in terms of daily DEX volume. As the chart below shows, Robinhood processed $1.45 billion in DEX volume on the 5th of September, compared with Solana’s $1.25 billion. This marked the first-ever daily volume flip between the two.
More importantly, Robinhood is maintaining this lead intraday with $1.36 billion in DEX volume so far versus Solana’s $1.28 billion.
Source: DeFiLlama If this trend continues, Solana’s [SOL] dominance in DEX activity could face a serious challenge.
In addition to this, Robinhood Chain just crossed $3 billion in daily DEX volume for the first time. Nearly $880 million is now locked on the chain, up by about 30% in just one week.
Meanwhile, deposits are now rapidly approaching the $1 billion mark, putting additional pressure on the dominance of DEX of Solana.
Notably, the activity isn’t limited to on-chain. Robinhood’s growth is also beginning to reflect in revenue, with the platform recently seeing $6.8 million in earnings, a record high revenue for any Ethereum L2 to date.
Analysts are growing increasingly bullish on ETH as increased activity on Robinhood could see the value return to the Ethereum ecosystem.
Against this backdrop, the bigger question is: Could Robinhood’s rise be the catalyst that finally triggers an ETH/SOL breakout?
Robinhood’s DEX surge could reshape the SOL/ETH battle The effect of Robinhood’s on-chain activity is not limited to Solana’s DEX volume.
Pump.fun, one of the largest memecoin platforms on the Solana blockchain, saw its volume fall to $1.18 million from a $3.16 million peak only eight days ago, while 53% of its application’s volume now comes from Robinhood Chain.
At the same time, the volume of transactions on the Solana blockchain dropped by 37% from its peak on the 28th of August. In short, the data points to a clear rotation in on-chain activity.
Notably, the timing couldn’t be better for Ethereum [ETH]. As can be seen in the chart below, the SOL/ETH ratio has been oscillating around the 0.04 level for more than a year.
For L1s, on-chain dynamics are one of the critical factors in technical performance, and Robinhood’s impact on the Ethereum layer could improve the ETH technical standing versus Solana.
Source: TradingView (SOL/ETH) Thus, a breakdown of the SOL/ETH ratio could benefit Ethereum as the market rolls into Q4.
According to AMBCrypto, this is where Solana’s DEX volume begins to take on more importance. In this cycle, Solana’s DEX dominance has been one of its strongest assets.
However, with Robinhood’s rise in both DEX volume and liquidity, the dominance of Solana is beginning to see pressure.
That puts Ethereum in a stronger relative position, with Robinhood’s increasing fee generation on the network emerging as a key catalyst for a possible ETH/SOL breakout.
Final Summary Robinhood has flipped Solana in daily DEX volume, putting Solana’s dominance under pressure. Robinhood’s growing activity on Ethereum could strengthen ETH and support an ETH/SOL breakout.
Cathie Wood’s ARK Invest was on the case to jump in and buy the dip on Sept. 4, Inc. has added shares of Robinhood Markets and the 3iQ Solana Staking ETF. The purchases came as stronger-than-expected U.S. jobs report that resulted in a selloff across Wall Street and fueled rising expectations that the Federal Reserve will raise rates once again.
Cathie Wood Acquires More Robinhood Stock, Solana ETF Cathie Wood-led ARK’s latest daily trading disclosure reveals that the firm’s ARK Genomic Revolution ETF (ARKG) added 28,589 shares of Robinhood Markets (NASDAQ: HOOD). The deal was valued at about $3.49 million based on the closing price of the stock at $122.11.
ARK also increased its exposure to Solana through the 3iQ Solana Staking ETF (TSE: SOLQ.U). The ARK Fintech Innovation ETF (ARKF) purchased 1,607 shares and the ARK Next Generation Internet ETF (ARKW) purchased 1,785 shares. With SOLQ.The $8.29 closing price for U came to about $28,120 in the combined purchase of 3,392 shares.
In addition to those acquisitions, Cathie Wood’s ARKG ETF acquired 22,144 shares of Veracyte and 28,720 shares of Intellia Therapeutics. ARKF also purchased 2,466 shares of Intellia Therapeutics and ARKK acquired 12,300 shares of Twist Bioscience. The ARKK fund’s flagship fund also divested itself of its holdings in Tempus AI, selling 20,180 shares.
U.S. Jobs Data Weighs On The Market Investors responded to fresh U.S. labor market data that changed interest-rate expectations while Cathie Wood’s buying activity increased. Nonfarm payroll rose by 162,000 in August, nearly tripling the expected level of 55,000, and the unemployment rate held steady at 4.1%, the Labor Department reported. The robust employment report added fuel to the fire and raised investors’ hopes the Federal Reserve will increase interest rates during its September policy meeting.
The U.S. stock market suffered with a downward trend driven by a change in rate expectations. The Dow Jones Industrial Average fell 271.86 points, or 0.51%, to 53,414.25. Investors shunned growth stocks in the wake of the payrolls report, pushing the S&P 500 and the Nasdaq Composite down 0.38% to 7,718.60 and 0.29% to 26,506.99, respectively.
Solana has announced that the ARB token is now available to trade on its network through Sunrise, expanding the options for ARB holders and traders. The move has drawn renewed attention to how trading fees and execution quality are compared across blockchains, especially amid ongoing disagreement between key industry figures.
Sunrise ARB listing sparks debate over fees and executionThe ARB token, which is native to the Arbitrum blockchain, can now be accessed and traded directly on Solana’s network via the third-party application Sunrise. Solana is promoting this listing by highlighting what it describes as tighter spreads and significantly lower fees for ARB trades compared to Arbitrum. These claims have intensified competition and discussion about transaction costs between rival blockchains.
Steven Goldfeder, CEO of Offchain Labs, which is the technology company behind Arbitrum, has responded to these comparisons by cautioning against drawing conclusions solely from outward fee structures. Goldfeder stressed that calculating true transaction costs should include protections against harmful trading behaviors such as frontrunning and various forms of maximal extractable value (MEV).
Goldfeder emphasized that comparing on-chain trading costs is not straightforward, as factors like protection against hidden execution costs and malicious trading practices can have a significant impact on users, beyond just network and liquidity provider fees.
Anatoly Yakovenko, cofounder of Solana, countered Goldfeder’s position by asserting that Arbitrum generally faces “worse spreads and higher fees” compared to Solana routes. Yakovenko cited figures suggesting a roughly tenfold difference in costs, though he clarified that these numbers represent his own assessment and not a guarantee for every ARB transaction on either network.
Trading costs on decentralized exchanges often include not just the base network fee, but also liquidity provider charges and price slippage. Solana documentation notes both base transaction fees and optional priority fees, which together contribute to the total spent by ARB traders. The absence of a standardized fee schedule makes it important for users to compare actual order execution results across platforms.
Founded in 2020, Solana is a high-speed, proof-of-stake blockchain claiming to offer fast settlement and low fees. Sunrise is an application that facilitates cross-chain asset listings and enables users to interact with tokens from multiple ecosystems within one interface.
Mini dictionary: Maximal extractable value (MEV) refers to the extra profit that can be made by miners or validators when they reorder or include certain transactions within a block, often at the expense of regular users by capturing arbitrage or frontrunning opportunities.
SOL price, volume jump as technical levels take focusThe news of ARB’s arrival via Sunrise comes as SOL, Solana’s native token, trades at $106.02, reflecting a 2.5% increase over a 24-hour period. SOL’s trading volume rose 63.8% in the same timeframe to $3.49 billion, though there is no direct evidence that the ARB listing was the catalyst for these changes in price and volume.
Recent technical analysis places immediate support level for SOL near $105, while overhead resistance has been identified at $107.37. Upside from $106.02 to the resistance would represent just over 1%. However, if the price falls below $104.94, the short-term recovery outlook could weaken.
Solana continues to see heightened activity, but interpreting a surge in trading volume requires caution, as increased turnover may signal greater trading but does not confirm new liquidity entering the $SOL market.
The $3.49 billion figure references SOL token trading activity, not necessarily total turnover for the Solana blockchain or the ARB token specifically. Higher trading volume reflects more frequent buying and selling but does not always indicate net capital inflows.
With immediate support and resistance levels tightly grouped, traders are watching closely for a potential breakout or further decline. Market participants are also waiting to see if ARB trading on Solana will attract sustained interest or impact long-term liquidity for either asset.
LevelValueCurrent SOL price$106.02Support$105.00Resistance$107.37Trading Volume (24h)$3.49 billionKey price risk level$104.94Overall, industry figures remain divided on the best way to measure trading costs, with Solana and Arbitrum advocates each defending their network’s approach. The debate has highlighted the complexity of comparing user experience and cost efficiency across blockchains as multi-chain asset access expands.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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Arbitrum co-founder Steven Goldfeder and Solana co-founder Toly have engaged in a debate over on-chain transaction fees, MEV protection, and the single sequencer model. Steven argued that surface-level fees alone should not be compared, noting that Arbitrum One and Robinhood Chain proactively prevent front-running and most malicious MEV, while some chains claiming lower fees carry higher MEV costs—including front-running targeting retail users. He stated he would rather pay clear, upfront fees than incur hidden losses from front-running, sandwich attacks, and other issues just to secure lower fees. Toly countered that Arbitrum currently has worse bid-ask spreads and higher fees. He explained that the 10% cut it takes from fees, when converted to basis points, already exceeds the sandwich attack loss rate—estimated to be roughly 10 times that rate—without even accounting for spread impacts. He emphasized: “A single sequencer that prioritizes maximizing shareholder value will never outcompete permissionless competition.”
Tokenized stock trading has surged to billion-dollar volumes, as data from Grayscale Investments reveals that weekly spot trading neared $3 billion in early August. Robinhood Chain, BNB Chain, and Solana dominate this market, facilitating most of the blockchain-based equity activity in recent weeks.
Tokenized Stock Trading Expands Across Three Major ChainsRobinhood Chain has rapidly gained traction since its public mainnet launch on July 1. Built as an Ethereum-compatible Layer 2 using Arbitrum technology, the platform targets financial services and real-world asset tokenization.
Eligible users in over 120 countries can access Stock Tokens through the Robinhood Wallet, although availability depends on jurisdiction. The system offers 24-hour trading and access to decentralized exchanges, and supports deploying assets into lending or collateral protocols.
BNB Chain and Solana also compete for market share. Grayscale identifies these three chains as accounting for most tokenized equity trading volume. Infrastructure provided by decentralized protocols such as Uniswap, PancakeSwap, and Raydium supports this growth.
This increased activity is creating a multi-chain ecosystem rather than one controlled by any single blockchain, allowing users a wider selection of networks for tokenized equity trading.
On-chain Use of Tokenized Stocks Tops $110 MillionWhile turnover continues to rise, the use of tokenized equities within decentralized finance is catching up. Grayscale’s data places the total value locked (TVL) in tokenized stock protocols above $110 million, after spending much of 2025 below $10 million. Solana-based Kamino initially led this jump, with Jupiter also contributing to expanded lending activity. Robinhood Chain and BNB Chain trading venues further accelerated the uptake.
Despite rising activity, only about 5% of the overall tokenized-equity market is currently deployed in onchain financial applications like lending or collateral, with most usage focused on buying and selling.
Token Terminal’s dashboard shows the tokenized stock market cap at approximately $3 billion, while the broader tokenized funds sector stands at $34.3 billion. Major products driving growth in the funds space include sUSDS, BlackRock’s BUIDL, and USYC.
Grayscale’s analysts note that the roughly $3 billion weekly spot trading figure reflects the frequency and value of tokenized equity transactions, while the $3 billion market cap cited by Token Terminal represents the total value of tokenized stocks in circulation.
Legal rights for tokenized equities differ by issuer. Robinhood clarifies that its Stock Tokens act as tokenized debt securities, providing economic exposure but not legal or beneficial ownership of the underlying stocks. Current offerings are unavailable to U.S. clients.
The next stage of growth may depend on expanding utility for tokenized stocks. Most of the present activity is in 24/7 trading, but if these assets become widely accepted as collateral or for other onchain financial uses, the market could see deeper integration with decentralized finance.
While traditional markets rely on complex brokers, a massive shift is happening as Wall Street begins to transition into Web3. Investors now utilize platforms such as 1stepSwap to hold tokenized shares of major U.S. companies, gold, and silver directly within their crypto wallets. By tokenizing real-world assets and instantly sourcing the most competitive market prices, such platforms are removing intermediaries from the investment process entirely.
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.
According to GMGN market data, the ZEC-themed airdrop meme token ZCAT (Anonymous Cat) on the Solana blockchain briefly surpassed $119 million in market capitalization, hitting a new all-time high, and is currently trading at $110 million. The token has rallied over 353% in the past 24 hours, with a 24-hour trading volume of $10.9 million. ZCAT is a cat-themed meme token built on Solana, inspired by Zcash’s (ZEC) privacy concept, featuring an anonymous cat mascot wearing a brown paper bag over its head. It levies a ~3% transaction and transfer tax to purchase bridged Zcash (ZEC) on Solana, which is then airdropped to holders. BlockBeats reminds users that most meme coins lack real utility, are highly volatile, and investors should exercise caution.
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According to GMGN market data, STONK, the token of Solana-based token launch platform StonkFun, briefly broke through $150 million in market capitalization, hitting an all-time high. It is now priced at $140 million, with a 24-hour price surge of 449% and trading volume of $61.3 million over the same period. BlockBeats reminds users that related tokens are highly volatile, so investors should exercise caution.
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Analyst: Bitcoin’s recent buying volume has hit its strongest level since the last bear market, with demand showing clear improvement.
CryptoQuant analyst Darkfost stated in a post that Bitcoin is facing the strongest buying pressure since the last bear market. The 365-day rolling cumulative net spot buying volume, denominated in U.S. dollars, has surpassed $83 billion, and this metric will remain in negative territory until March 2026. This indicator measures the gap between spot buying and selling volumes on major trading platforms, calculated as a 365-day rolling cumulative total. It signals a significant improvement in recent demand, with the market gradually building a positive trend. However, he warned that spot trading volume does not make up the majority of trading platform activity, as futures trading still holds a clear dominant position. Even so, based on the spot metric, market momentum is growing more positive.
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Willy Woo: Bitcoin is now significantly decoupling from U.S. stocks, a trend similar to the prelude to Bitcoin's 2017 bull market.
Crypto analyst Willy Woo has published a post stating that Bitcoin is significantly decoupling from the U.S. stock market, with the last instance of such a high degree of decoupling occurring in 2015 — the prelude to Bitcoin’s 2017 bull run. In 2014, the stock market remained in a bull market, while BTC experienced a bear market unrelated to stock market trends. From 2015 to 2016, the stock market fluctuated weakly for two consecutive years, yet BTC entered a bull market; then in 2017, when the stock market also turned bullish, BTC surged even more sharply. Willy Woo believes the current market landscape mirrors that period: Bitcoin’s liquidity is continuing to strengthen, while the stock market is starting to show signs of fragility.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Tokenized stocks approached $3 billion in weekly spot volume at the beginning of August. In its analysis published on September 3, Grayscale ranks Robinhood Chain, BNB Chain, and Solana among the main networks of this new segment of the crypto market. Liquidity is growing fast. However, the use of these assets in onchain finance remains limited to about 5% of the market.
In Brief The weekly volume of tokenized stocks peaked near $3 billion. Robinhood Chain, BNB Chain, and Solana account for a large part of the trading. Only about 5% of tokenized stocks are used in onchain finance. The figure comes from Grayscale: the weekly spot volume of tokenized stocks reached nearly $3 billion at the beginning of August. This growth further establishes these products in the crypto landscape, after several months of increasing volumes on major blockchains.
BNB Chain had already exceeded $5.2 billion in cumulative volume on tokenized stocks by the end of June. More than 700 stocks and ETFs were then available on its ecosystem.
Solana is also advancing quickly. In the second quarter, the network recorded $5.77 billion in volume on tokenized assets, which is 114% more than the previous quarter. Stocks alone accounted for $4.8 billion, compared to $1.1 billion in the first quarter.
Robinhood Chain now completes the top three. Launched on mainnet July 1, the network directly benefits from the broker’s activity and its offer of tokenized stocks.
The crypto market thus no longer just tokenizes dollars or bonds. Apple, Nvidia, and other traditional securities now circulate on the same infrastructures as stablecoins and DeFi assets.
Crypto Trading Advances Faster Than Financial Uses The almost $3 billion hides an important gap. Grayscale estimates that only about 5% of the tokenized stock market is currently deployed in onchain financial applications. Their locked value exceeds $110 million.
For now, these products are mainly used for trading. Their use as collateral or in lending protocols remains much smaller. On Solana, Grayscale notes, however, that tokenized stocks placed on platforms like Kamino and Jupiter have multiplied by about ten in a year.
This is an important point to measure the real development of this branch of crypto finance. A high trading volume shows that liquidity exists. It does not yet mean these assets are widely integrated into DeFi.
Another figure gives an idea of current activity. The seven most traded tokenized stocks generated $4.3 billion in DEX volume over 30 days, according to Token Terminal data cited by Grayscale. Three of them are available on Robinhood Chain.
This growth comes a few weeks after a daily record exceeding $565 million on DEXs recorded at the end of June. The periods and scopes differ, but both data tell the same story of accelerating blockchain trading.
Robinhood Pushes Crypto Towards Traditional Markets Robinhood started in 2025 with more than 200 tokenized stocks and ETFs aimed at eligible European clients. These products were initially issued on Arbitrum. Since July, the broker has its own infrastructure. Robinhood Chain is an Ethereum layer 2 designed notably for tokenized assets, continuous transfers, and decentralized finance.
For European users, an essential distinction remains: a tokenized stock does not automatically give the same rights as a stock held directly with a traditional broker. Depending on the structure chosen by the issuer, the token may represent a security, a claim on stocks held by a custodian, or another contractual right.
The US SEC is also working on these issues. Its Investor Advisory Committee stated in March that tokenization could notably allow settling the transfer of a security and its payment in the same transaction, while requesting more clarity on ownership and investor protection.
For the crypto market, volumes are no longer the only indicator to follow. Tokenized stocks have found liquidity. Their next step will be to transform this trading activity into broader financial uses.
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Evans S.
Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.
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.
According to GMGN market data, STONK, the token of Solana-based token launch platform StonkFun, briefly hit a market cap of over $138 million, marking an all-time high. It is currently valued at $122 million, with a 311% 24-hour gain and $54.7 million in trading volume over the same period. BlockBeats reminds users that related tokens are highly volatile, so investors should exercise caution.
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Solana attracted approximately $348 million in net real-world asset flows over the latest 30-day period, placing it ahead of other tracked blockchain distribution networks.
Summary
Solana attracted $348 million in net distributed RWA flows during the latest thirty-day measurement period. Network distributed RWA value reached roughly $4.23 billion as tracked holder addresses climbed to 398,644. Solana hosted tokenized products from BlackRock, Franklin Templeton, VanEck, Circle, Ondo and WisdomTree by September. RWA net flows measure asset value changes and transfers rather than blockchain transaction volume alone. Ethereum and Stellar posted smaller thirty-day increases while Avalanche and XRP Ledger declined over period. The increase lifted the value of distributed RWAs on Solana to about $4.23 billion.The RWA Foundation published the figure on Sept. 5 using data from analytics platform RWA.xyz. “Solana is leading the pack,” the organization said in its official post, adding that the network recorded the largest net increase during the period.
The figures cover distributed real-world assets. These are tokenized financial products that investors can subscribe to, hold or transfer through blockchain wallets and approved custodians. They do not represent the total value of every asset referenced by a tokenization platform.
Solana RWA flows outpaced competing networks Solana’s distributed RWA value increased by 11.13% over 30 days, according to the dataset cited by the RWA Foundation. Ethereum recorded a 0.77% increase, while Stellar rose 5.22%.
The XRP Ledger and Avalanche moved in the opposite direction. Their tracked totals declined by 5.51% and 14.06%, respectively. These changes can reflect subscriptions, redemptions, transfers between networks and movements in the reported value of underlying assets.
Net flows should not be confused with transaction volume. The $348 million figure does not mean investors traded exactly $348 million of tokenized assets on Solana during the month. It represents the net change attributed to assets distributed on the network after inflows and outflows.
The calculation also differs from total value locked in decentralized finance. DeFi TVL generally tracks crypto deposited into lending, trading and staking applications. RWA figures focus on tokens linked to off-chain financial instruments such as government bonds, private credit, investment funds and equities.
RWA.xyz’s distributed asset category also requires a different reading from represented asset value. A token could provide access to a much larger off-chain portfolio while only a portion of its supply circulates on a specific blockchain.
U.S. Treasury products form a large part of Solana’s RWA market Solana’s RWA expansion has been supported by tokenized U.S. Treasury and money market products. These instruments allow eligible investors to hold blockchain-based tokens representing interests in regulated funds, Treasury-backed notes or other cash-management products.
BlackRock’s BUIDL fund expanded to Solana through Securitize in March 2025. BUIDL invests in cash, U.S. Treasury bills and repurchase agreements. A dedicated Solana share class gives eligible investors blockchain-based access to the fund while Securitize manages tokenization and transfer infrastructure.
Securitize confirmed the deployment through its official announcement. Solana later reported that the BUIDL share class held more than $550 million on the network by February 2026.
Franklin Templeton’s BENJI token is also available on Solana. BENJI represents shares in the Franklin OnChain U.S. Government Money Fund, which invests at least 99.5% of its assets in government securities, cash and fully collateralized repurchase agreements.
The asset manager’s official platform confirms that Solana support began in February 2025. Franklin Templeton reported $753.24 million in total net assets for the fund as of June 30, although that figure covers the entire fund across supported networks rather than its Solana allocation alone.
VanEck’s VBILL provides another Treasury-linked product. It launched across Solana, Ethereum, Avalanche and BNB Chain through Securitize in May 2025. The product invests in short-term U.S. government obligations and uses blockchain infrastructure for ownership records and transfers.
Ondo and WisdomTree widened available RWA products Ondo Finance operates the USDY and OUSG products on Solana. USDY is a tokenized note backed by short-term U.S. Treasuries and bank deposits. It is primarily available to eligible investors outside the U.S.
OUSG provides exposure to short-term U.S. government securities through a portfolio that includes tokenized investment funds. Ondo’s official page states that the product supports continuous minting and redemptions, including outside conventional banking hours.
The company also launched hundreds of tokenized U.S. stocks and exchange-traded funds on Solana in January 2026. The products provide economic exposure to underlying securities but are structured for eligible non-U.S. investors rather than as ordinary shares registered directly to token holders.
The launch broadened Solana’s RWA market beyond Treasury products. It also introduced assets whose value can change with public equity prices, meaning an increase in reported RWA value does not always represent new investor capital.
WisdomTree added another institutional distribution channel in January. The asset manager made its tokenized funds available for direct minting on Solana through its WisdomTree Connect platform.
The integration allows eligible institutional clients to purchase, hold and manage tokenized fund positions on the network. It also permits supported assets to move into compatible decentralized applications, subject to the issuer’s compliance requirements.
Solana’s RWA total does not include unrestricted ownership Tokenized RWAs frequently contain investor eligibility and transfer controls. A public blockchain may record balances and transfers, but that does not mean every wallet can buy or redeem each product.
Treasury and money market tokens can require identity verification, jurisdictional screening or minimum investments. Issuers can also restrict transfers to approved addresses and freeze tokens when required by their product terms or applicable law.
This structure separates institutional RWAs from permissionless crypto assets such as SOL. Solana supplies the settlement and distribution network, while regulated issuers, transfer agents, custodians and fund administrators remain responsible for the underlying products.
It also means the $4.23 billion figure is not Solana protocol revenue or capital controlled by the Solana Foundation. The value belongs to investors in products issued by separate financial institutions.
Crypto.news previously reported that the wider tokenized RWA market had reached approximately $38.1 billion by Aug. 9 as projects moved hundreds of millions of dollars in physical assets onchain. Solana’s reported total represents one portion of that market.
The network’s growth also fits a wider shift from primarily speculative activity toward tokenized financial infrastructure. This transition has included institutional products moving onto public blockchains, although adoption remains dependent on regulation, liquidity and investor access.
New issuance will determine whether the inflows continue Solana can extend its RWA growth if issuers place additional fund shares on the network or investors increase subscriptions to existing products. Redemptions or transfers to competing blockchains would reduce the total.
The next RWA.xyz updates will show whether the $348 million increase represented a sustained trend or a concentrated period of issuance. Product-level changes will also help identify which funds contributed most to the rise.
Any direct connection between the RWA inflows and SOL’s market price would be speculative without supporting trading data. Tokenized products may use Solana for settlement while investors pay network fees amounting to only a small portion of the assets’ underlying value.
The more relevant measure is whether tokenized assets remain on Solana, gain additional holders and develop active secondary or collateral markets. Those factors would show whether the latest inflows are translating into continued blockchain use rather than a temporary balance increase.
Solana maintained its position near $103 after reclaiming a previously significant resistance area at $98, signaling continued short-term recovery. While the broader market correction has not yet concluded, technical patterns for Solana suggest that $110 will be the next major resistance in focus. A sustained breakout could move attention to higher levels near $146 to $152.
SOL stabilizes above $98 during corrective phaseSolana’s short-term outlook currently appears positive as its price holds above $98. Analysts view the recent rebound as forming inside a corrective Elliott Wave structure, indicating that the move is not yet part of a new impulsive trend.
More Crypto Online, an account specializing in technical analysis, described Solana’s action as consistent with a fourth wave correction following a rejection close to $110. The platform noted that price developments have been characterized by overlapping moves, a structure typical for corrections rather than clear upward trends.
Fibonacci retracement levels place immediate support at $102.50, $101.51, $100.53, and $99.14, creating a tightly packed support zone. This range gives traders clearer reference points for evaluating whether the rebound can continue further.
More Crypto Online identified Solana’s corrective phase as ongoing, estimating that, “SOL could still move above the September 3 high as part of a B-wave rebound before a C-wave decline, which would complete the larger correction.”
Below the main support area, a second support band exists between $90.46 and $94.83. If Solana manages to hold this lower region, the possibility of a resumed rally in a potential fifth wave remains, but a clear drop beneath $90.46 would weaken the bullish outlook further.
Mini dictionary: Elliott Wave pattern – A technical analysis method used to predict price movements by identifying recurring wave structures in the market, including impulsive and corrective phases.
Key resistance and potential for further recoverySolana’s recent recovery above the upper $90 range is important, as this area influenced trading behavior earlier in the year. By moving back above $98, buyers appear to be turning this previous resistance into new support, suggesting market confidence is strengthening at these levels.
TraderSZ, a crypto trader and analyst, reported adding to long positions in Solana and pointed to the $90 level as a significant support that, if violated, would invalidate his bullish outlook.
TraderSZ expressed confidence in the setup, stating that as long as SOL remains above $98.39, which he identified as the previous quarter’s high, the trend structure remains supportive of further gains.
The primary challenge in the near term lies at $110, the recent swing high. Surpassing this resistance with consistent buying could pave the way for moves toward a higher supply zone between $146 and $152. However, these targets are considered more ambitious and will require confirmation through continued bullish momentum.
Any decisive break below $90 could threaten the ongoing rebound and put the continuation scenario under significant pressure. At present, the price region between $98 and $100 remains pivotal for the immediate direction of SOL.
Price LevelTypeComment$110ResistanceCritical test for new bullish momentum$98-$100SupportPivotal area for near-term rebound$94.83-$90.46Deeper supportLoss of this range weakens bullish case$146-$152Ambitious resistanceMajor supply zone, not immediate targetDisclaimer: 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.
According to GMGN market data, STONK, the token of Solana-based token launch platform StonkFun, briefly broke through $150 million in market capitalization, hitting an all-time high. It is now priced at $140 million, with a 24-hour price surge of 449% and trading volume of $61.3 million over the same period. BlockBeats reminds users that related tokens are highly volatile, so investors should exercise caution.
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Cathie Wood: Bitcoin is gradually decoupling from gold's price trend.
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StonkFun completes a $1 million buyback of STONK tokens; its platform token STONK surpasses $100 million in market cap today.
Solana-based token launch platform StonkFun announced it has completed a $1 million STONK token buyback, while over $7.5 million in rewards have been distributed to holders in the StonkFun ecosystem. StonkFun also announced it has launched on Raydium LaunchLab. Going forward, all new StonkFun token deployments will be initiated via LaunchLab to lower deployment costs, reduce sniper risks, and enable automatic liquidity compounding after binding is completed. According to GMGN market data, StonkFun’s platform token STONK surpassed $100 million in market cap today, currently trading at $92 million, with a 256% 24-hour gain and $30.4 million in trading volume over the same period. BlockBeats reminds users that related token prices are highly volatile, so investors should exercise caution.
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Beating AI Express News: Leaker Lyra claims Google’s next Pro model already has its first checkpoint (a saved model state version from training) and is set to be unveiled in October. Lyra also predicts a new Flash-Lite launch in September, alongside an update to Nano Banana 2 Lite. The final name for the new Pro model remains unconfirmed; some community members speculate it could be Gemini 4 Pro, while others believe it may be another Pro variant.
Token Terminal just quietly turned its real-world asset dashboard into something resembling a Bloomberg terminal for on-chain finance. The crypto analytics platform added 145 new tokenized asset deployments, including five tokenized stocks on Solana with a combined market cap of roughly $1.7 million.
The bigger picture behind the update The five Solana-based tokenized stocks are part of a much larger expansion that brought three new issuers onto Token Terminal’s radar: Backpack, Anchored Finance, and xStocks.
With these additions, Token Terminal now tracks over 4,600 assets across more than 310 issuers and 45 different blockchains. The total market capitalization of everything on the dashboard sits at approximately $345 billion.
For context, the platform was covering roughly 300 assets back in November 2025. Going from 300 to 4,600 in under a year is the kind of growth curve that makes venture capitalists start hyperventilating.
Stablecoins account for about 94% of that $345 billion figure, or north of $300 billion. Strip those out, and the remaining tokenized stocks, bonds, and other RWAs clock in at around $20.7 billion combined.
Backpack’s 1:1 redemption model Among the three new issuers, Backpack stands out for a specific structural reason. Its tokenized stocks are built on a 1:1 redemption model, meaning holders can redeem tokens for the underlying shares through authorized brokers.
This matters because not all tokenized equities work the same way. Some are purely synthetic, tracking a stock’s price without any actual shares backing the token. Backpack’s approach anchors its tokens to real equity, which reduces counterparty risk and gives holders a path to settle back into traditional finance rails. The five tokenized stocks on Solana with that $1.7 million market cap appear to align with Backpack’s deployments on that chain.
Meanwhile, xStocks has taken a volume-first approach, launching over 700 tokenized US equities and ETFs.
Why standardized metrics matter now Token Terminal’s expansion isn’t just about adding more assets to a list. It’s about creating a standardized framework for comparing tokenized assets across different issuers and chains.
Right now, the RWA space is fragmented in ways that make apples-to-oranges comparisons look straightforward. One issuer might report market cap based on tokens minted, another based on tokens actually in circulation, and a third might not report at all. Different blockchains have different settlement characteristics. Redemption mechanisms vary wildly.
Having a single dashboard that normalizes this data across 45 blockchains and 310 issuers gives traders and institutional allocators something they desperately need: a way to actually compare what they’re looking at.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Tokenized stocks sitting on Solana and Robinhood Chain have crossed $152 million in combined DeFi deposits. That figure represents roughly 79% of the entire $192.6 million in tokenized-equity DeFi TVL across all chains, a concentration that says a lot about where this market is actually happening.
Solana commands the lion’s share at approximately $75.4 million, good for 64.5% of the global market in tokenized-stock DeFi deposits. Robinhood Chain, barely two months old, has already muscled its way to second place. The rest of the field, Ethereum included at around $15 million, is fighting over scraps.
From trading tokens to farming yield Still, only about 5% of all tokenized equities have actually entered DeFi lending protocols. That’s a tiny fraction of a $3.1 billion total tokenized equity market cap. Solana hosts the largest share of that deployed capital, which tracks with its broader dominance in onchain equity trading.
In Q2 2026, Solana recorded $5.8 billion in tokenized-stock DEX volume. That’s roughly 95% of all onchain equity trading globally, a 114% increase from the prior quarter. Platforms like xStocks and Raydium have been the primary venues facilitating that flow.
Robinhood Chain’s aggressive entrance Robinhood Chain launched on July 1, 2026, as a Layer 2 solution built on Ethereum, purpose-built for tokenized real-world assets. Within its first month, the platform’s tokenized equities reached an active market value of nearly $72.7 million. That represents close to a sevenfold increase from its early days, driven largely by trading activity in familiar names: tokenized GameStop hit a daily trading volume of $26.6 million shortly after launch, and Nvidia proved similarly popular.
Weekly spot volume across major chains reached approximately $3 billion in August 2026, with Robinhood Chain capturing a meaningful slice despite being the newest entrant. Grayscale has identified Solana, Robinhood Chain, and BNB Chain as the three leading platforms for tokenized equity volume.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
WLFI advisor Ogle is the actual top holder of PONS, holding 15.28 million PONS at an average price of $0.1.
According to EmberCN's monitoring, WLFI advisor ogle's PONS holdings are not the 10.96 million units shown on FOMO, but 15.28 million units valued at $13.92 million. He also holds 4.32 million PONS in another address, worth $3.86 million. Ogle is actually the top PONS whale, having accumulated a total of 15.28 million PONS at an average price of $0.1 per unit, with an unrealized profit of $13.77 million, marking an 87x gain. The relevant addresses are: 0x1Bcc5f67CD17e13770F199fA03bC043b0cde1143; 0x825F23921dCFf36944d8B0b0CA23ac7D05fB86cB
10 minutes ago
OpenAI Simultaneously Recruits Schumer’s Daughter and Veteran Republican Operative to Focus on U.S. State AI Policies
From Beating AI Express News: OpenAI has appointed three new state-level policy heads, with Jessica Schumer drawing the most attention. She is the daughter of US Senate Minority Leader Chuck Schumer, previously served as chief of staff at the Obama administration’s Council of Economic Advisers, and later led Amazon’s public policy work in New York. At OpenAI, she will oversee policy and partnerships in the US Northeast. Another new hire, Caulder Harvill-Childs, previously worked in public policy at Meta and also served Republican Georgia House Speaker Jon Burns; he will now be responsible for the US Southeast. Thomas MacLellan will handle state-level cybersecurity policy, with prior experience at firms including Palo Alto Networks, Symantec, and FireEye. OpenAI is shifting more focus to US states, a strategy it terms "reverse federalism": instead of waiting for Congress to enact uniform legislation, it is pushing major states like California and New York to adopt similar AI rules, eventually forming de facto national standards. OpenAI publicly noted that California, New York, and Illinois have already started aligning on frontier AI safety rules.
10 minutes ago
Altcoins rally broadly, with Layer 2 (L2) and DeFi sectors surging sharply. ARB, RAY, and SUSHI – the direct beneficiaries of the Meme craze – lead the market’s gains.
According to HTX market data, altcoins are rallying broadly amid active trading on Robinhood, BNB Chain, and Solana. The L2, DeFi, and DEX sectors are seeing sharp gains, with L2 led by ARB, followed by OP, STRK, IMX, etc. DeFi and DEX tokens including RAY, ORCA, JUP, UNI, SUSHI, CAKE, CRV, SPK, LISTA, and ENA are all rising, as capital flows back to DeFi projects with real trading use cases and fee mechanisms. On BNB Chain, boosted by BNB breaking above $780, tokens like BOME, 1000CAT, MARSCOIN, and TUT are also climbing. Meanwhile, today’s Altcoin Season Index has risen to 40, meaning roughly 40 of the top 100 cryptocurrencies by market cap have outperformed Bitcoin over the past 90 days, and total altcoin market cap has hit $1.10 trillion. Top gainers: ARB up over 51% in 24 hours, trading at $0.1997. Robinhood Chain, an Ethereum L2 built on Arbitrum Orbit, allocates 10% of its net protocol revenue to the Arbitrum ecosystem—8% to the DAO treasury and 2% to development funds. RAY up over 42% in 24 hours, trading at $1.177. Solana-based token launch platform StonkFun announced it has integrated with Raydium LaunchLab. Going forward, all new StonkFun token deployments will launch via LaunchLab to cut costs, reduce front-running risks, and enable auto-compounding liquidity post-binding. SUSHI up over 24% in 24 hours, trading at $0.2385. SushiSwap has integrated its DEX and launchpad into Robinhood Chain, allowing new tokens to pair with tokenized stocks and launch with an existing Sushi V3 pool. SushiSwap Launch V2 is set to launch around September 4, with SUSHI serving as the launchpad’s quote asset. Other notable 24-hour gains: BOME, IOST, 1000CAT up over 20%; COTI, TUT, CAKE, SPK, UNI, STRK, MET, ORCA up over 10%; CRV, ENA, IMX, JUP, LISTA also posting solid increases.
10 minutes ago
StonkFun completes a $1 million buyback of STONK tokens; its platform token STONK surpasses $100 million in market cap today.
Solana-based token launch platform StonkFun announced it has completed a $1 million STONK token buyback, while over $7.5 million in rewards have been distributed to holders in the StonkFun ecosystem. StonkFun also announced it has launched on Raydium LaunchLab. Going forward, all new StonkFun token deployments will be initiated via LaunchLab to lower deployment costs, reduce sniper risks, and enable automatic liquidity compounding after binding is completed. According to GMGN market data, StonkFun’s platform token STONK surpassed $100 million in market cap today, currently trading at $92 million, with a 256% 24-hour gain and $30.4 million in trading volume over the same period. BlockBeats reminds users that related token prices are highly volatile, so investors should exercise caution.
10 minutes ago
Word has it that the first checkpoint of Google's new Pro model has emerged, with a possible public release in October.
Beating AI Express News: Leaker Lyra claims Google’s next Pro model already has its first checkpoint (a saved model state version from training) and is set to be unveiled in October. Lyra also predicts a new Flash-Lite launch in September, alongside an update to Nano Banana 2 Lite. The final name for the new Pro model remains unconfirmed; some community members speculate it could be Gemini 4 Pro, while others believe it may be another Pro variant.
10 minutes ago
Leading DeFi researcher questions Ethereum’s Layer 2 strategy: Robinhood’s revenue has surged, yet Layer 1 settlement layer revenue remains low—Is this a problem?
Renowned DeFi researcher Ignas points out that Robinhood’s Layer 2 (L2) network paid just around $722 to its underlying base layer yesterday, while Robinhood itself posted a record $6 million in fee revenue that same day—roughly 10% of which went to Arbitrum, with nearly negligible amounts reaching Ethereum’s Layer 1 (L1). Against this backdrop, Ignas questions: Is this structure, where platforms rake in massive profits while the settlement layer gets almost nothing, actually a problem for Ethereum? Ethereum may currently be using low fees to onboard TradFi players into its ecosystem, planning to raise revenue shares once user migration costs become sufficiently high. If Ethereum’s official roadmap does include a strategy of first attracting a large number of L2s, then monetizing on L1 after switching costs rise, this could be positive for ETH—but such an approach is not visible in Ethereum’s current roadmap.
Solana (SOL) is holding its key support zone and preserving a bullish outlook, as recent price action and network metrics suggest sustained optimism for further recovery. With investors focused on both technical and on-chain indicators, SOL continues to be a closely watched altcoin in the current market cycle.
Solana price remains above key supportAt press time, SOL is trading at $103.25, showing a 1.3% gain over the past 24 hours. The token’s 24-hour trading volume stands at $2.15 billion, and its market capitalization has reached $60.45 billion. Market analyst More Crypto Online reported that Solana is defending its crucial support region between $90.50 and $100.48, a level that has allowed the bullish trend structure to remain intact.
Holding above this range is critical for market participants seeking further upward moves. As long as SOL stays within or above these levels, buyers could retain confidence, and upward momentum may continue. The next significant resistance area is located at $110. A confirmed breakout above this level may encourage additional gains, while a drop below $90.50 could weaken the bullish setup and bring increased selling pressure.
Derivative market shows mixed sentimentData from Coinglass highlights contrasting signals in the Solana derivatives market. Trading volume has declined by 42.33%, reaching $4.44 billion, which could indicate reduced trading activity and market participation. At the same time, open interest has grown by 2.86% to $6.38 billion, suggesting that investors are still holding substantial positions in anticipation of a potential move by SOL.
MetricPreviousCurrentChangeTrading Volume$7.7 billion$4.44 billion-42.33%Open Interest$6.20 billion$6.38 billion+2.86%Technical analysis on TradingView reveals that Solana’s price recently broke out of a consolidation phase, driven by renewed buying pressure. After touching a low of $57.50 in June, SOL traded between $73 and $84 in August, later climbing to $114.80—above the 20-day simple moving average (SMA) of $96.98.
Indicators point to strong bullish momentum, but the Relative Strength Index (RSI) has cooled to 64.80 from previously overbought levels above 70, indicating prices are stabilizing after recent gains. As long as SOL remains above key moving averages, the upward trend is expected to persist with resistance at $114.80.
Solana strengthens position among top blockchainsCrypto analyst curb reported that Solana led all blockchains in application-generated revenue over the past week, reaching $42.28 million and outpacing major competitors. The platform’s decentralized applications (dApps), including trading platforms and DeFi protocols, have seen significant user engagement and economic activity.
Consistent earnings and high on-chain activity suggest strong demand for services built on Solana, reinforcing its broader fundamental appeal. High transaction volumes, lower fees, and increased application usage remain key components supporting an active on-chain ecosystem.
If growth in network usage and earnings continues, Solana could further solidify its status as a leading platform for decentralized applications.
Solana is an open-source blockchain platform developed for decentralized applications and cryptocurrency projects, known for its high throughput and low costs.
Mini dictionary: Open interest, a term in derivatives markets, measures the total number of outstanding contracts (such as futures or options) that haven’t been settled. Rising open interest often suggests that new money is entering the market, reflecting growing investor participation or anticipation of significant price movements.
Outlook for SOL price and network performanceSolana maintains crucial support levels, giving bulls a potential setup to challenge the $110 resistance. Positive momentum, the involvement of derivatives traders, and ongoing network activity are influencing short-term market expectations.
Solana’s strong earnings, robust dApp engagement, and bullish technical metrics continue fueling optimism for the blockchain’s near-term performance, but caution remains as losses in support could trigger a reversal.
The upward trend is substantiated by the current RSI and prices holding above vital moving averages. Investors are closely monitoring support levels and resistance at $114.80 to gauge the next decisive move for SOL.
Movements in Bitcoin’s price are also contributing to the general direction of the altcoin market, including Solana’s trend.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
TLDR: The Solana price prediction stays bullish while SOL holds the $90.50 to $100.48 support band, with buyers targeting $110 to $113. A confirmed move above $113 could expose Fibonacci resistance at $132.93 and $160.42 before the conditional $200 to $230 region. Solana processed about five billion transactions in August, while its applications produced $42.28 million in weekly revenue. Derivatives activity remains mixed because volume fell 42.33% to $4.44 billion while open interest rose 2.86% to $6.38 billion. Solana trades near $103.25 after gaining 1.3% in 24 hours. The latest advance keeps the Solana price prediction focused on resistance between $110 and $113. Buyers also continue defending the broader $90.50 to $100.48 support band. That structure supports another breakout attempt after months of consolidation.
SOL records about $2.15 billion in daily trading volume and holds a $60.45 billion market value. Market data also shows strong application revenue and heavy transaction activity across the network. Derivatives indicators remain mixed, though rising open interest suggests traders expect a larger move. Bitcoin’s broader recovery also provides a firmer backdrop for buyers.
Solana Price Prediction Tests Resistance Near $110 to $113 The three-day SOL chart shows a breakout from a pattern formed after the June low. There, sellers produced lower highs while buyers gradually raised support. SOL price has crossed the pattern’s descending boundary and improved its short-term position.
The first upside objective stands near $113, above the immediate $110.15 resistance. A decisive close above this region could establish a higher range. It would also direct attention toward the next Fibonacci target at $132.93.
Higher resistance appears at $160.42 and $209.63. Analyst More Crypto Online identifies $200 as the long-term objective, while the chart marks $230. Those targets remain conditional because SOL still faces a descending trendline extending from its 2025 highs.
The daily chart defines the downside levels clearly. Initial support sits at $100.48, matching the 23.6% Fibonacci retracement. Further demand zones appear at $94.83 and $90.50, aligned with 38.2% and 50% retracements.
Source: TradingView Holding this band would preserve the latest higher-high scenario. A sustained loss of $90.50 would weaken the bullish setup and increase the risk of a deeper reset. Therefore, the Solana price prediction depends first on support holding, then on buyers clearing $110 to $113.
The Solana price prediction also reflects cooling momentum. SOL recently climbed from a June low near $57.50 to $114.80. It also moved above its 20-day simple moving average, recently shown near $96.98.
The Relative Strength Index has eased to 65 after previously entering overbought territory above 70. This decline suggests momentum has moderated without reversing. SOL price holding above key moving averages keeps the recovery structure intact.
Solana Network Activity Supports the Bullish Price Setup Solana network activity adds a fundamental layer to the Solana price prediction. The blockchain processed about five billion transactions during August, exceeding 100,000 transactions per minute. It achieved that volume while maintaining fees below those charged by several competing networks.
Solana handled 5 billion transactions in August, an unfathomable level of activity that exceeded all other networks combined.
That's more than 100,000 every minute.
And it did this while keeping fees orders of magnitude lower than other chains. pic.twitter.com/jKIsmd5dYy
— Solana (@solana) September 5, 2026
Application revenue provides another measure of demand. Solana applications generated $42.28 million during the week, placing the network above rival chains. Trading platforms, decentralized finance services, and consumer applications contributed to that total.
Consistent application earnings indicate that users continue interacting with the network beyond speculative token trading. High throughput and low transaction costs help applications support frequent activity. Continued demand could strengthen the Solana price prediction.
Derivatives markets present a less uniform picture. Trading volume fell 42.33% to $4.44 billion, indicating weaker short-term participation. Meanwhile, open interest increased 2.86% to $6.38 billion, showing that traders kept positions active despite lower turnover.
Source: Coinglass The combination can precede a sharper price move because leverage stays open while immediate activity declines. It does not confirm direction, making spot support and resistance especially important. Buyers need sustained volume above $113 to validate the breakout and reduce false-move risk.
The near-term roadmap now centers on three zones over the coming sessions. SOL must defend $100.48 to preserve immediate momentum and hold $90.50 to protect the wider structure. A confirmed push through $110 to $113 would expose $132.93, with $160.42 becoming the next technical barrier.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
According to GMGN market data, Solana-based meme coin Stonks has exceeded $100 million in market capitalization, currently standing at $92 million, with a 256% 24-hour gain and $30.4 million in trading volume over the same period. BlockBeats reminds users that related token prices are highly volatile, so investment caution is advised.
BNB Chain’s Executive Director of Growth Nina Rong stated that regarding the debate between Arbitrum founder Steven Goldfeder and Solana co-founder Toly over Robinhood Chain’s fee model, she wants to underscore one key point: further reducing gas fees is no longer the top priority for the blockchain industry. The real priority for all public chains today is to develop a sustainable business model and reinvest proceeds into technology and growth. This model could take the form of gas fees, revenue sharing, or other commercial partnerships. Over the past five years, blockchain foundations have largely been associated with two core activities: issuing grants and making investments, as well as cutting gas fees. To sustain the industry for another five years, blockchain companies must have robust business structures.
WLFI advisor Ogle is the actual top holder of PONS, holding 15.28 million PONS at an average price of $0.1.
According to EmberCN's monitoring, WLFI advisor ogle's PONS holdings are not the 10.96 million units shown on FOMO, but 15.28 million units valued at $13.92 million. He also holds 4.32 million PONS in another address, worth $3.86 million. Ogle is actually the top PONS whale, having accumulated a total of 15.28 million PONS at an average price of $0.1 per unit, with an unrealized profit of $13.77 million, marking an 87x gain. The relevant addresses are: 0x1Bcc5f67CD17e13770F199fA03bC043b0cde1143; 0x825F23921dCFf36944d8B0b0CA23ac7D05fB86cB
10 minutes ago
OpenAI Simultaneously Recruits Schumer’s Daughter and Veteran Republican Operative to Focus on U.S. State AI Policies
From Beating AI Express News: OpenAI has appointed three new state-level policy heads, with Jessica Schumer drawing the most attention. She is the daughter of US Senate Minority Leader Chuck Schumer, previously served as chief of staff at the Obama administration’s Council of Economic Advisers, and later led Amazon’s public policy work in New York. At OpenAI, she will oversee policy and partnerships in the US Northeast. Another new hire, Caulder Harvill-Childs, previously worked in public policy at Meta and also served Republican Georgia House Speaker Jon Burns; he will now be responsible for the US Southeast. Thomas MacLellan will handle state-level cybersecurity policy, with prior experience at firms including Palo Alto Networks, Symantec, and FireEye. OpenAI is shifting more focus to US states, a strategy it terms "reverse federalism": instead of waiting for Congress to enact uniform legislation, it is pushing major states like California and New York to adopt similar AI rules, eventually forming de facto national standards. OpenAI publicly noted that California, New York, and Illinois have already started aligning on frontier AI safety rules.
10 minutes ago
Altcoins rally broadly, with Layer 2 (L2) and DeFi sectors surging sharply. ARB, RAY, and SUSHI – the direct beneficiaries of the Meme craze – lead the market’s gains.
According to HTX market data, altcoins are rallying broadly amid active trading on Robinhood, BNB Chain, and Solana. The L2, DeFi, and DEX sectors are seeing sharp gains, with L2 led by ARB, followed by OP, STRK, IMX, etc. DeFi and DEX tokens including RAY, ORCA, JUP, UNI, SUSHI, CAKE, CRV, SPK, LISTA, and ENA are all rising, as capital flows back to DeFi projects with real trading use cases and fee mechanisms. On BNB Chain, boosted by BNB breaking above $780, tokens like BOME, 1000CAT, MARSCOIN, and TUT are also climbing. Meanwhile, today’s Altcoin Season Index has risen to 40, meaning roughly 40 of the top 100 cryptocurrencies by market cap have outperformed Bitcoin over the past 90 days, and total altcoin market cap has hit $1.10 trillion. Top gainers: ARB up over 51% in 24 hours, trading at $0.1997. Robinhood Chain, an Ethereum L2 built on Arbitrum Orbit, allocates 10% of its net protocol revenue to the Arbitrum ecosystem—8% to the DAO treasury and 2% to development funds. RAY up over 42% in 24 hours, trading at $1.177. Solana-based token launch platform StonkFun announced it has integrated with Raydium LaunchLab. Going forward, all new StonkFun token deployments will launch via LaunchLab to cut costs, reduce front-running risks, and enable auto-compounding liquidity post-binding. SUSHI up over 24% in 24 hours, trading at $0.2385. SushiSwap has integrated its DEX and launchpad into Robinhood Chain, allowing new tokens to pair with tokenized stocks and launch with an existing Sushi V3 pool. SushiSwap Launch V2 is set to launch around September 4, with SUSHI serving as the launchpad’s quote asset. Other notable 24-hour gains: BOME, IOST, 1000CAT up over 20%; COTI, TUT, CAKE, SPK, UNI, STRK, MET, ORCA up over 10%; CRV, ENA, IMX, JUP, LISTA also posting solid increases.
10 minutes ago
StonkFun completes a $1 million buyback of STONK tokens; its platform token STONK surpasses $100 million in market cap today.
Solana-based token launch platform StonkFun announced it has completed a $1 million STONK token buyback, while over $7.5 million in rewards have been distributed to holders in the StonkFun ecosystem. StonkFun also announced it has launched on Raydium LaunchLab. Going forward, all new StonkFun token deployments will be initiated via LaunchLab to lower deployment costs, reduce sniper risks, and enable automatic liquidity compounding after binding is completed. According to GMGN market data, StonkFun’s platform token STONK surpassed $100 million in market cap today, currently trading at $92 million, with a 256% 24-hour gain and $30.4 million in trading volume over the same period. BlockBeats reminds users that related token prices are highly volatile, so investors should exercise caution.
10 minutes ago
Word has it that the first checkpoint of Google's new Pro model has emerged, with a possible public release in October.
Beating AI Express News: Leaker Lyra claims Google’s next Pro model already has its first checkpoint (a saved model state version from training) and is set to be unveiled in October. Lyra also predicts a new Flash-Lite launch in September, alongside an update to Nano Banana 2 Lite. The final name for the new Pro model remains unconfirmed; some community members speculate it could be Gemini 4 Pro, while others believe it may be another Pro variant.
10 minutes ago
Leading DeFi researcher questions Ethereum’s Layer 2 strategy: Robinhood’s revenue has surged, yet Layer 1 settlement layer revenue remains low—Is this a problem?
Renowned DeFi researcher Ignas points out that Robinhood’s Layer 2 (L2) network paid just around $722 to its underlying base layer yesterday, while Robinhood itself posted a record $6 million in fee revenue that same day—roughly 10% of which went to Arbitrum, with nearly negligible amounts reaching Ethereum’s Layer 1 (L1). Against this backdrop, Ignas questions: Is this structure, where platforms rake in massive profits while the settlement layer gets almost nothing, actually a problem for Ethereum? Ethereum may currently be using low fees to onboard TradFi players into its ecosystem, planning to raise revenue shares once user migration costs become sufficiently high. If Ethereum’s official roadmap does include a strategy of first attracting a large number of L2s, then monetizing on L1 after switching costs rise, this could be positive for ETH—but such an approach is not visible in Ethereum’s current roadmap.
Solana-based token launch platform StonkFun announced it has completed a $1 million STONK token buyback, while over $7.5 million in rewards have been distributed to holders in the StonkFun ecosystem. StonkFun also announced it has launched on Raydium LaunchLab. Going forward, all new StonkFun token deployments will be initiated via LaunchLab to lower deployment costs, reduce sniper risks, and enable automatic liquidity compounding after binding is completed. According to GMGN market data, StonkFun’s platform token STONK surpassed $100 million in market cap today, currently trading at $92 million, with a 256% 24-hour gain and $30.4 million in trading volume over the same period. BlockBeats reminds users that related token prices are highly volatile, so investors should exercise caution.
Two months after Robinhood launched its own blockchain, the question of who actually benefits from its fee structure has turned into a proxy war between Arbitrum and Solana’s founding teams.
Offchain Labs co-founder Steven Goldfeder and Solana co-founder Anatoly Yakovenko took their disagreement public on X in early September 2026, trading barbs over Robinhood Chain’s transaction fee model. At stake: a philosophical rift about whether blockchain infrastructure should function as a revenue engine for the app sitting on top, or whether fees should flow to the validators keeping the network secure.
The $0.40 question Robinhood Chain launched on July 1, 2026, built on the Arbitrum Orbit framework. It uses ETH as its gas asset, runs 100-millisecond block times, and supports both tokenized real-world assets and DeFi activity. By early September, the chain was processing around 10.4 million transactions per day during peak periods, generating roughly $4.22 million in daily fees.
Average transaction costs had climbed to approximately $0.40 each during congestion spikes.
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Yakovenko fired first, posting his critique around September 3-4. His argument: Robinhood’s chain effectively profits from network congestion. Rather than collecting fees transparently and distributing them to validators, the model channels congestion-driven revenue back to Robinhood itself. In Yakovenko’s framing, that’s a misaligned incentive. The busier the chain gets, the more expensive it becomes for users, and the more money Robinhood makes.
Goldfeder’s rebuttal centered on the math. Under Robinhood’s arrangement with Arbitrum, Robinhood retains about 90% of sequencer revenues. The remaining 10% flows to the Arbitrum ecosystem. His point was straightforward: on Solana, those same fees would go to validators, and Robinhood would capture none of them. The Orbit model lets application builders monetize their own infrastructure.
Goldfeder emphasized that the Arbitrum model allows Robinhood to retain 90% of sequencer revenues, contrasting it with Solana where fees flow to validators with no direct benefit to the application layer.
Follow the money The revenue numbers make the debate more than academic. During peak activity, Robinhood Chain’s fee generation annualized at approximately $42 million. Even the 10% cut flowing to Arbitrum represented a meaningful revenue stream, with cumulative payments to Arbitrum exceeding hundreds of thousands of dollars in the chain’s first two months.
That flow of capital has had tangible market effects. Daily increases in ARB token prices reportedly exceeded 40% in the period following Robinhood Chain’s launch.
Yakovenko’s underlying critique, though, isn’t really about where the money goes. It’s about what happens to users when congestion equals profit. If Robinhood benefits from higher fees during peak usage, the incentive to reduce those fees diminishes. On Solana, validators earn from fees, but the protocol itself is designed to keep transaction costs as low as possible.
Competing visions of blockchain economics This debate sits at the intersection of two distinct philosophies. The Arbitrum Orbit model represents the “app-chain” thesis: applications should control their own execution environments, capture their own revenue, and treat the underlying L1 or L2 as modular infrastructure. The Solana model represents the “monolithic chain” thesis: one high-performance chain handles everything, fees stay low through engineering, and value accrues to the token rather than individual app operators.
Arbitrum’s approach gives builders like Robinhood economic flexibility to set fee parameters, capture sequencer revenue, and tailor the chain to their specific use case. The trade-off is that users bear the cost of congestion more directly, and the app operator has a financial interest in that congestion.
Solana’s approach prioritizes raw throughput and low costs at the base layer. For a company like Robinhood, which generated the vast majority of its traditional brokerage revenue from payment for order flow, the ability to internalize transaction economics is a powerful draw.
Investors watching both ecosystems should pay close attention to whether Robinhood’s daily transaction volumes hold steady at the 10-million-plus level, or whether fee sensitivity starts eroding usage.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Solana (SOL) has moved beyond a prolonged consolidation phase, with immediate attention turning to the $110-$113 price range as the next potential resistance for buyers. This latest surge follows months of technical compression, and analysts are closely watching whether Solana can maintain its current momentum above this critical region.
Breakout Pushes SOL Toward Higher RangeA review of Solana’s three-day chart reveals that SOL has broken out above a contracting price pattern that developed after the June low. This shift puts buyers in a notably stronger technical position in the short term. At the time of the analysis, SOL was trading close to $104, while $113 stands out as the next major upside target.
This breakout is seen as significant because Solana had spent months producing lower highs even as support levels edged higher. With the price moving above the descending limit of its recent consolidation, technical observers are focused on whether this rally can be maintained in the face of further resistance.
A sustained advance through $113 would validate the breakout and set up a higher trading band for SOL. Conversely, if the price falls back into the previous consolidation zone, it could cast doubt on the longevity of this upward move.
The broader technical landscape features a notable challenge: a long-term descending resistance trendline stemming from Solana’s 2025 peaks. SOL would need to overcome this higher trendline before a move back to its historical highs becomes a plausible scenario.
Analyst ay identified $200 as a likely next target for SOL, while also marking $230 as a longer-term objective. However, these targets are contingent upon Solana first clearing $113, continuing to set new higher highs, and ultimately breaking through the larger descending resistance line.
Mini dictionary: Fibonacci retracement is a technical analysis tool that identifies potential support and resistance levels by dividing the vertical distance between significant price points using key Fibonacci ratios, often helping traders anticipate possible reversal points.
Key Support and Resistance Levels on Daily ChartOn Solana’s daily chart, the structure offers further insight into the levels that could shape the near-term direction. Currently, SOL is positioned around $101.67, with a concentration of Fibonacci-based support levels just below.
More Crypto Online, a technical analysis platform, highlighted that holding between $90.50 and $100.48 remains crucial for further gains, while $110 represents the next central resistance.
The first support level is found at $100.48, corresponding to the 23.6% Fibonacci retracement. Should this level give way, deeper support emerges at $94.83 and $90.50, which align with the 38.2% and 50% Fibonacci retracements.
Maintenance above this support range is regarded as an ongoing consolidation phase rather than the start of a bearish reversal. If SOL can secure a breakout above $110.15, analysts see the $113 level as attainable in the near future.
Looking further ahead, the daily chart outlines $132.93 as the subsequent major resistance, while higher targets are found at $160.42 and $209.63, closely mirroring the $200 target previously noted by analyst ay.
LevelTypeChart Timeframe$90.50-$100.48SupportDaily$110-$113Resistance/Breakout TargetDaily/3-Day$132.93ResistanceDaily$160.42, $209.63Higher ResistanceDaily$200, $230Potential TargetMedium/Long-TermIf Solana’s price falls below $100.48, downside risk increases toward $94.83, while a breakdown under $90.50 would weaken the case for ongoing higher highs and could signal the need for a more substantial correction before any major advance resumes.
The convergence of the three-day and daily technical structures positions SOL at a pivotal moment: breaking through $110-$113 could confirm a rebound and drive attention toward higher resistance bands, while defending support between $90.50 and $100.48 keeps longer-term bullish scenarios in play.
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.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
According to the RWA Foundation X account, Solana led RWA flows, pulling in $348 million in the last 30 days.
"Solana is leading the pack. It topped net flows for RWAs over the past 30 days, pulling in $348 million to the chain," the RWA Foundation X account wrote.
As seen on the rwa.xyz page, Solana led the 30-day change among major networks on the RWA League table (distributed), referring to RWA tokens using the blockchain as a distribution layer, enabling onchain investors to subscribe, hold, and manage assets directly through their own wallets or custodians. Solana recorded a 30-day increase of 11.13%, while Ethereum and Stellar rose by 0.77% and 5.22%, respectively. XRP Ledger and Avalanche declined by 5.51% and 14.06%, respectively.
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As reported, Solana's RWA value has crossed $4 billion, currently at $4.23 billion. RWA holders increased by 17.63% in the last 30 days to 398,644.
One of the defining industry trends over the past year has been the growth of RWAs, with Solana sustaining its momentum. The Solana blockchain hosts tokenized Treasury products, including Circle's USYC tokenized money market fund, BlackRock's BUIDL, VanEck's VBILL, and Franklin Templeton's BENJI.
Ondo Finance runs two Treasury-linked products on Solana: USDY is a tokenized note backed by short-term U.S. Treasuries and bank demand deposits, and OUSG provides exposure to short-term U.S. government bonds and is backed significantly by BlackRock's BUIDL fund.
Solana eyes most ambitious upgradeSolana is eyeing what could be its most ambitious core upgrade to date—one that replaces its current technology stack with a redesigned consensus protocol built for near-instant finality and responsiveness.
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Dubbed Alpenglow, the upgrade proposes replacing Proof of History—Solana's well-known unique "pre-recorded clock" system—and Tower BFT, its existing voting mechanism for reaching consensus.
In late August, Solana saw its first network-wide governance vote—a proposal to speed up cuts to new SOL issuance that scraped past the required two-thirds majority in the final minutes before the deadline.
Solana has emerged as the leading blockchain for real-world asset (RWA) flows, securing $348 million in net inflows over the past 30 days, according to data shared by the RWA Foundation. The RWA Foundation, an organization focused on advancing tokenized assets across blockchains, published the figures on its official X account.
Solana’s RWA market growthIn recent weeks, Solana has maintained its position at the top of major RWA network rankings, surpassing Ethereum, Stellar, XRP Ledger, and Avalanche. The rwa.xyz dashboard shows that Solana’s net RWA flow grew by 11.13% in the last month, bringing its total RWA market value to $4.23 billion. The number of RWA holders on Solana also increased, rising by 17.63% to a total of 398,644.
For comparison, Ethereum posted a modest 0.77% increase in 30-day RWA flows, while Stellar rose by 5.22%. In contrast, other networks experienced declines: XRP Ledger dropped by 5.51%, and Avalanche fell by 14.06% during the same period.
Network30-Day Flow ChangeTotal RWA ValueSolana+11.13%$4.23 billionEthereum+0.77%—Stellar+5.22%—XRP Ledger−5.51%—Avalanche−14.06%— Solana is leading the pack. It topped net flows for RWAs over the past 30 days, pulling in $348 million to the chain.
Expanding RWA product ecosystemRWAs—blockchain-based representations of traditional assets—have become one of the fastest-growing sectors in crypto over the past year. Solana has benefited from strong adoption of tokenized Treasury products, including Circle’s USYC money market fund, BlackRock’s BUIDL fund, VanEck’s VBILL, and Franklin Templeton’s BENJI. These products enable onchain investors to subscribe, hold, and manage financial assets directly from digital wallets or third-party custodians.
Ondo Finance, one of the leading crypto asset managers, has introduced two major RWA products on the network: USDY, a tokenized note backed by short-term U.S. Treasuries and bank demand deposits, and OUSG, which provides exposure to short-term U.S. government bonds and is largely supported by BlackRock’s BUIDL fund.
Mini dictionary: RWAs (Real-World Assets), physical or traditional financial assets like government bonds or funds represented on a blockchain through tokenization, enabling easy transfer and management by investors using digital wallets.
One of the defining industry trends over the past year has been the growth of RWAs, with Solana sustaining its momentum through additional product launches and growing investor participation.
Upcoming upgrades and governance milestonesSolana is preparing for a major core upgrade, codenamed Alpenglow, which proposes a new consensus protocol designed to deliver near-instant finality and improved responsiveness. This upgrade would replace Solana’s current technology stack, phasing out the well-known Proof of History mechanism and its Tower BFT consensus system.
Proof of History, which has allowed Solana to achieve fast and consistent timestamps through a “pre-recorded clock” approach, is expected to be succeeded by a new algorithm under the Alpenglow proposal.
In late August, Solana completed its first network-wide governance vote. The proposal aimed to accelerate the reduction in new SOL issuance and narrowly passed the required two-thirds majority just before the deadline.
Solana, developed by Solana Labs, is a public blockchain launched in 2020. It is known for high throughput and low transaction costs, and has become a major platform for decentralized finance and tokenized assets.
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 has been building something quietly significant. The network’s combined real-world asset footprint, counting stablecoins, tokenized funds, equities, and commodities, has crossed $18.5 billion, according to data tracked by RWA.xyz and research from Galaxy Digital and the Solana Foundation. The stablecoin layer alone reached $16.4 billion in May 2026, making it the largest single component of the ecosystem. Non-stablecoin RWAs hit an all-time high of $2.8 billion that same month, a figure that climbed toward $4.23 billion by September 2026.
The lineup of issuers looks less like crypto and more like a financial services conference Circle’s USDC and Tether’s USDT remain the dominant stablecoin players on the network. Early 2026 brought Western Union’s USDPT and SoFi’s SoFiUSD to Solana. On the non-stablecoin side, BlackRock, Ondo, and Securitize have all launched tokenized products on the network. The holder base now numbers somewhere between 230,000 and 398,000 unique participants across Solana’s RWA ecosystem, depending on the asset class and tracking methodology.
Ninety-seven percent is a number that deserves its own paragraph Solana captured 97% of all on-chain tokenized equities trading volume in the first half of 2026. The network processes transactions quickly and cheaply, which matters when the use case is high-frequency settlement of financial instruments. For an institution moving large volumes of tokenized assets across a trading day, the difference between $0.001 per transaction and $5 per transaction is the difference between a viable product and an uneconomical one. Traditional financial infrastructure often settles trades on a T+2 basis. On-chain settlement on Solana happens in seconds.
What this ecosystem actually means for the network’s identity One important caveat worth noting: a significant portion of the RWA value currently sitting on Solana remains in reserve positions rather than actively circulating through DeFi applications. The $18.5 billion figure represents assets tokenized and held on-chain, not necessarily assets being lent, borrowed, or used as collateral in decentralized protocols. Regulatory frameworks for tokenized securities remain uneven across jurisdictions, and institutional compliance requirements don’t always map cleanly onto permissionless DeFi protocols.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Five altcoins carry more near-term upside than Ethereum (CRYPTO: ETH) or XRP (CRYPTO: XRP) heading into Q4, according to a widely-followed cryptocurrency influencer.
Why the Macro Sets Up the Alt TradeAltcoin Daily argued in a YouTube video on Thursday that the debasement trade driving Bitcoin higher creates the conditions for altcoin outperformance in Q4.
Pantera Capital’s Dan Morehead noted in the video that the US Treasury is printing roughly $2 trillion in excess annually, making hard assets and crypto the logical beneficiaries.
The Five Altcoins Worth Watching1. Hyperliquid (CRYPTO: HYPE) — US market entry talks with Kraken’s parent Payward are advancing through subsidiary Bitnomial. Trump publicly endorsed a compliant US pathway, and Grayscale’s Hyperliquid Staking ETF (NASDAQ:HYPG) crossed $123 million in AUM within 30 days of launch.
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2. Chainlink (CRYPTO: LINK) — The US Department of Commerce is now using Chainlink to bring official GDP, PCE, and economic data on-chain across 10 blockchains, giving applications live access to US government figures in real time.
3. Bittensor (CRYPTO: TAO) — DCG founder Barry Silbert argues the rush to acquire open-source AI will eventually point investors toward TAO, citing Nvidia’s reported acquisitions of Poolside for $6 billion and Hugging Face for $122.9 billion as proof of concept.
4. Uniswap (CRYPTO: UNI) — Record activity with 7 million swaps in a single day and 82 swaps per second across all chains, fueled by Robinhood (NASDAQ:HOOD) Chain volume. The protocol also upgraded its tokenomics to direct more revenue into buybacks.
5. Solana (CRYPTO: SOL) — On-chain tokenized equity holders reached a record 1.9 million, up 134% month over month from under 100,000 just 10 months ago, with users trading real-world assets around the clock.
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BulkTrade, one of the more quietly hyped projects in Solana’s DeFi ecosystem, has officially gone live on mainnet. The perpetual futures exchange launched on September 5, bringing with it execution latency between 5 and 20 milliseconds, a figure that puts it in striking distance of the centralized exchanges it’s trying to replace.
The platform isn’t rolling out the red carpet for everyone, though. Access is gated behind referral codes and invites.
The numbers behind the launch BulkTrade didn’t arrive empty-handed. A pre-deposit campaign that kicked off on June 1, 2026, pulled in over $25.9 million in USDC TVL within just 10 days.
The financial foundation goes deeper than pre-deposits. BulkTrade closed an $8 million seed round back in September 2025, co-led by Robot Ventures and 6th Man Ventures. Wintermute Ventures also participated, which is notable given Wintermute’s role as one of the largest market makers in crypto.
On the tokenomics side, the BULK token hasn’t launched yet, but the allocation framework is already public. Thirty percent of the total supply is reserved for community distribution through airdrops, with eligibility tied to pre-deposit activity and trading behavior.
The platform also introduced what it calls BIP-1 on July 28, a framework that enables permissionless, deployer-owned perpetual markets.
Why speed matters in perps trading BulkTrade is betting it can deliver both speed and self-custody. The platform targets sub-40 millisecond finality while keeping user assets in self-custody on Solana. All perpetuals are settled in USDC, which simplifies the margin and settlement process compared to platforms that support multiple collateral types.
The exchange underwent a security audit by Zellic, a firm that has reviewed smart contracts for several major DeFi protocols.
Solana’s perps landscape gets more crowded BulkTrade enters a Solana perps market that already includes established players like Jupiter’s perps product and other on-chain derivatives protocols.
BulkTrade’s 30% airdrop allocation rewards early depositors and active traders. The dynamic margin functionality the platform offers adjusts margin requirements in real time, potentially improving capital efficiency for sophisticated traders, in contrast to traditional perps platforms that use static margin requirements.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Solana co-founder Anatoly Yakovenko has criticized Robinhood Chain fees, arguing that the brokerage profits from network congestion rather than charging users openly within its own app.
Robinhood Chain transaction fees now average roughly $0.40. Yakovenko says Solana handles the same work for a fraction of a cent.
Why Robinhood Chain Fees Keep ClimbingRobinhood Chain went live on mainnet on July 1, 2026. The network runs on Arbitrum technology, settles to Ethereum, and uses Ether (ETH) for gas.
Usage has climbed hard since. Robinhood Chain fees reached $4.22 million in one day against roughly 10.4 million transactions, data shows. That lands near $0.40 each.
Median costs point the same way. Currently, the network ranks first among 27 chains at $0.24, ahead of every rival. Congestion sets that price, not a posted rate.
Growth explains part of the pressure. Grayscale recently named Robinhood Chain among the three leading venues for tokenized stock trading, alongside BNB Chain and Solana.
Meanwhile, Solana charges a base fee of 5,000 lamports per signature. Lamports are Solana’s smallest unit, and 1 SOL equals 1 billion lamports.
At the current Solana price near $102, that fee stays well under a cent. Solana (SOL) is down 1.64% on the day.
Solana Price Performance. Source: BeInCrypto MarketsRobinhood Chain fees also feed Arbitrum. The brokerage hands over 10% of net revenue under its licensing terms. Of that, 8% goes to the Arbitrum DAO treasury, and 2% funds the Developer Guild.
Those payments have already revived Arbitrum’s ARB token, which climbed 90% off its record low. Yakovenko argues the same slice would cover Solana fees four times over.
What’s funny is that the 10% rev share to arb would have covered the solana tx fees 4 times over and rh could have given a totally gas less experience to users. https://t.co/QAt8LFMqTK
— toly 🇺🇸 (@toly) September 4, 2026 Not everyone reads Robinhood Chain fees that way. Gnosis co-founder Martin Köppelmann noted Robinhood earns money rather than giving the service away. He doubted the pitch would land.
Yakovenko replied that front ends typically charge 50 to 80 basis points. For example, Uniswap ranks among the busiest network apps, alongside Relay.
Still, Robinhood Chain fees are only one strain. The chain also stalled block production briefly this week, and users paid $0.40 anyway.
The wider question is who ends up paying. Users cover the $0.40, Ethereum takes its settlement cost, and Robinhood keeps the rest.
The Solana network and its ecosystem underwent two significant changes within one week. Validators first approved a plan to reduce future SOL issuance by 18.9 million.
AMBCrypto previously reported on the disinflation proposal. Now, Solana’s rent system is also changing, potentially unlocking millions of SOL held inside existing accounts.
How does Solana’s rent reduction work? On September 3rd, Solana activated rent reduction. With the activation, the network will reduce storage bins for onchain accounts by approximately 90%.
According to Solana Floor, the first stage lowers the Lamports-per-byte requirement from 6,960 to 6,333, through five feature gates. This will mark a 9% drop.
The already existing accounts will keep their lamports, so each activated reduction will leave them above the new minimum. The excess funds could be withdrawn without closing the account.
How much could be surplus funds? Solana activated its rent reduction on the 3rd of September. The complete rollout will reduce storage costs for on-chain accounts by approximately 90%.
According to Solana Floor, the first stage reduced the Lamports-per-byte requirement from 6,960 to 6,333. This represented a 9% reduction across five feature gates.
Existing accounts will retain their Lamports, leaving them above the newly reduced minimum.
Consequently, account holders could withdraw the surplus without closing their accounts. That shift could turn previously locked storage capital into spendable SOL.
Over 1.16 billion token accounts held a combined 3.425 million SOL in rent balances.
After SIMD-0437’s five-stage rollout, approximately 3.08 million SOL could become reclaimable. Those tokens were worth roughly $307 million.
Solana Floor described the potential release as an “airdrop” worth around $319 million.
However, the rent reduction will not distribute an automatic refund. Eligible token programs must withdraw the surplus before holders can spend it.
Therefore, the change resembles capital recovery rather than a conventional airdrop. It also creates an unusual supply tension. Solana is reducing future issuance while simultaneously making previously restricted SOL liquid.
Did Solana’s price react? SOL rebounded from $99 and reached a local high of $105. At press time, Solana [SOL] traded around $104 after gaining 4.01% on the daily chart.
The recovery also forced bearish traders from the market.
Source: CoinGlass Short Liquidations exceeded $12.2 million, compared with only $2 million in Long Liquidations.
Short squeezes can support further gains as traders cover positions and potentially switch toward longs. However, those Liquidations reflected forced buying rather than guaranteed organic demand.
Can SOL hold the $100 support? Despite SOL’s rebound, Spot Netflow showed that some holders continued realizing profits. The metric remained positive for three consecutive days.
On the 3rd of September, Spot Netflow reached $39.6 million before falling to $4.9 million.
Source: CoinGlass Positive Spot Netflow indicated that more SOL entered exchanges, increasing potential selling pressure.
Continued profit-taking could weaken the $100 support. By contrast, easing Exchange Inflows may allow SOL to revisit $110 and extend its recovery. The next debate extends beyond price: will reclaimed rent strengthen participation or simply create another source of sellable SOL?
Final Summary Solana began reducing account storage costs on the 3rd of September. The full rent reduction could make approximately 3.08 million SOL reclaimable.
A memecoin launchpad on Robinhood Chain is quietly outearning Solana’s biggest token factory. The fees are real, the volume is accelerating, and the gap is widening every day.
Summary
Pons has outearned Pump.fun in daily fees every day since Aug. 29, hitting $4.89M on Aug. 31 alone against a chain where gas costs users nothing. The platform has processed $4B in cumulative volume with more than 10,000 token deployments per day, a pace that took Pump.fun months longer to reach. Creators on Pons have earned over $25M in cumulative fees through a 1% trading fee split that sends roughly 70% back to token deployers. The PONS token surged from $0.078 on Aug. 24 to $0.43 by Sept. 1, an 18,000% gain since July that pushed its market cap past $307M. Uniswap Labs purchased PONS tokens “for long-term alignment” and launched pools.trade on Robinhood Chain on Aug. 5, adding direct competition on the same network. A memecoin launchpad nobody outside of onchain circles talks about is printing more revenue than the protocol that defined the category. Pons, the dominant token factory on Robinhood Chain, has beaten Pump.fun in daily fees every single day since Aug. 29. On Aug. 31, it pulled in $4.89M. Pump.fun, running on Solana where gas is already near free, did not come close.
This is not a fluke day or a cherry-picked metric. Pons is processing $4B in cumulative platform volume. It is launching more than 10,000 tokens per day. And the economics are structured so that the people deploying tokens keep most of the money, which is exactly why they keep coming back.
The question is no longer whether Pons can compete with Pump.fun. It already is. The question is what happens when Robinhood Chain’s 90-day gas waiver expires on Sept. 29 and users have to start paying for transactions again.
The fee machine behind Pons Pons charges a flat 1% fee on every trade that happens on tokens launched through its platform. That fee splits roughly 70/30: creators take the larger share, the protocol keeps the rest. In a market where most launchpads extract value and give nothing back, Pons runs in the opposite direction. Creators have earned more than $25M in cumulative fees.
That split matters because it creates a flywheel. A creator launches a token, promotes it, drives volume, and earns fees from the trading activity their promotion generates. The incentive to launch another token the next day is obvious. So is the incentive to launch five.
Ten thousand token deployments per day is a staggering number. Most of those tokens will go to zero. That is the nature of memecoins and everyone involved knows it. But the volume those tokens generate while they are alive feeds the fee machine, and the fee machine feeds the creators, and the creators feed the volume. It is a loop that sustains itself as long as attention stays on the chain.
Pump.fun built this model first. Pons copied the playbook and dropped it onto a chain where gas costs nothing, which turned out to be the only variable that mattered.
Why zero gas changes everything Robinhood Chain is an Arbitrum Orbit L2 that launched a 90-day gas waiver on July 1. Every transaction on the network is free until roughly Sept. 29. That single decision rewired the economics of memecoin trading.
On Solana, gas fees are close to zero but not actually zero. A fraction of a cent per transaction adds up when a degenerate trader is executing hundreds of swaps a day across dozens of tokens. On Robinhood Chain during the waiver period, that cost is literally nothing. The only fee a trader pays is the 1% Pons trading fee, and 70% of that goes to the person who created the token they are trading.
This is why Pons volume exploded. The friction that exists on every other chain, even low-fee chains like Solana, vanishes entirely. A user can launch a token, trade into it, trade out of it, and repeat the cycle without ever thinking about network costs. The behavioral difference between “almost free” and “actually free” is enormous.
Robinhood Chain generated $4.01M in daily revenue on Sept. 2. Solana, by comparison, earned $78,000 that same day. The L2 that most of crypto Twitter ignores is generating 50 times the daily revenue of the chain that dominates the conversation.
The PONS token rally and what it signals PONS traded at $0.078 on Aug. 24. By Sept. 1, it hit $0.43. That is not a typo. The token is up 18,000% since July, and the rally accelerated as fee revenue numbers started circulating on social media.
The market cap sits around $307M with roughly 710M tokens in circulation. Twenty-nine percent of the supply has been burned, which tightens the float and amplifies price moves in both directions. Daily trading volume regularly exceeds $100M, which means the token is liquid enough for institutional-sized positions but volatile enough to lose half its value in a bad week.
What makes the PONS rally different from a typical memecoin pump is that it is backed by real revenue. The protocol is generating millions in daily fees. That does not mean the token is fairly valued at $307M or that it cannot crash 80% tomorrow. It means the speculation has a foundation, which is more than most tokens at this market cap can say.
The burn mechanism also creates an interesting dynamic. As more tokens are burned and supply shrinks, the remaining tokens represent a larger share of protocol fees if the team ever implements a fee-sharing mechanism. That is a big “if,” but the market is pricing in the possibility.
Uniswap enters the ring Uniswap Labs did two things that signal where institutional money sees the opportunity. First, the team bought PONS tokens and publicly stated the purchase was “for long-term alignment.” Second, Uniswap Labs launched pools.trade on Robinhood Chain on Aug. 5 with lower fees than Pons.
The pools.trade launch is direct competition. Uniswap is not partnering with Pons or building on top of it. The team is building a competing product on the same chain with a fee structure designed to undercut the incumbent. That is a vote of confidence in Robinhood Chain and a declaration of war against Pons in the same move.
The PONS token purchase complicates that narrative. If Uniswap Labs is building a competitor, why buy the competitor’s token? The most likely answer is hedging. If Pons wins, the token appreciates and Uniswap profits from the position. If pools.trade wins, Uniswap captures the fee revenue directly. Either way, Uniswap has exposure to the growth of memecoin trading on Robinhood Chain.
For Pons, the Uniswap entry is both validation and threat. Validation because one of DeFi’s most respected teams is building on the same chain. Threat because Uniswap has brand recognition, engineering talent, and existing liquidity network effects that Pons cannot match. The next 60 days will determine whether Pons can defend its market share or whether the Uniswap brand pulls volume away.
The case against Pons The bull case writes itself. The bear case deserves equal weight.
The entire Pons economy runs on a gas subsidy that expires on Sept. 29. When users start paying for transactions, the “actually free” advantage disappears. Volume could drop sharply. If the gas waiver was the primary driver of adoption rather than the product itself, the revenue numbers collapse the moment the subsidy ends.
Ten thousand token deployments per day sounds impressive until you consider what those tokens actually are. The vast majority are low-effort memecoins created to extract fees from the first wave of buyers. The security risks in DeFi are well documented, and memecoin launchpads concentrate those risks. Rug pulls, coordinated dumps, and wash trading are features of this market, not bugs.
The 70/30 creator fee split incentivizes volume at any cost. A creator who earns fees from trading activity has every reason to manufacture that activity artificially. Without serious wash trading detection, the $4B cumulative volume number could include a significant amount of recycled capital that inflates the real economic activity.
The PONS token itself has no formal claim on protocol revenue. Holding it does not entitle you to a share of fees. The 18,000% gain is driven by speculation about future utility that may never materialize. If the team announces a fee-sharing mechanism, the token could surge further. If they do not, holders are sitting on an expensive bet with no yield.
Robinhood Chain is also a single L2 controlled by a centralized sequencer. The regulatory environment for crypto assets is evolving, and a centralized chain running a memecoin factory is exactly the kind of thing that attracts attention from enforcement agencies. The Clarity Act vote on Sept. 15 could reshape the legal ground rules for tokens launched on platforms like Pons.
Pump.fun is not standing still Pump.fun still processes enormous volume on Solana. The protocol has brand recognition, a larger user base, and a proven track record that spans multiple market cycles. Writing it off because Pons had a strong week would be premature.
Solana’s ecosystem is deeper. The chain has more wallets, more DEXs, more infrastructure, and more developer tooling than Robinhood Chain. A token launched on Pump.fun can immediately trade on Raydium, Jupiter, and dozens of other venues. A token launched on Pons trades on Pons and pools.trade. The liquidity surface area is not comparable.
Pump.fun also charges real fees on a chain where users already accept gas costs as part of the transaction. When Robinhood Chain’s gas waiver expires, Pump.fun’s cost structure will look relatively more competitive than it does today. The gap that Pons exploited narrows significantly once both platforms operate on chains where gas is cheap but not free.
The counter-argument is that user habits formed during a free gas period may stick. Traders who built their workflow around Robinhood Chain over the past 90 days might not leave even when gas costs return. But behavioral economics suggests that free-to-paid transitions always cause churn. The question is how much.
What to watch Daily fee comparison after Sept. 29. The gas waiver expiration is the single most important variable. If Pons maintains its fee lead over Pump.fun after users start paying gas, the bull case strengthens dramatically. Wash trading analysis. Independent researchers need to quantify how much of the $4B cumulative volume is organic versus recycled. If organic volume is even 50% of reported numbers, the economics still work. If it is lower, the story changes. Uniswap Labs pools.trade market share. Track whether pools.trade is taking volume from Pons or growing the total pie. If Pons volume stays flat while pools.trade grows, the chain is winning but the protocol is losing. PONS token utility announcements. Any fee-sharing, staking, or governance mechanism changes the valuation framework entirely. Without it, the $307M market cap is purely speculative. Regulatory signals from the Sept. 15 Clarity Act vote. A restrictive outcome could affect every memecoin launchpad, but centralized L2 platforms with identifiable operators face the most direct exposure. What is Pons? Pons is a memecoin launchpad on Robinhood Chain. You deploy a token, other people trade it, and you earn a cut of every trade. Think Pump.fun but on a chain where gas is free right now.
How does Pons make money? It takes a 1% fee on every trade. About 30% goes to the protocol and 70% goes to the person who created the token. That creator split is why so many people keep launching tokens on it.
Why is Pons outearning Pump.fun? Zero gas fees on Robinhood Chain. When every transaction is free except the trading fee, people trade more. A lot more. Pump.fun charges fees on Solana where gas is cheap but still real money if you are doing hundreds of trades a day.
What happens when the gas waiver expires? Nobody knows for sure. The 90-day gas waiver on Robinhood Chain ends around Sept. 29. If volume holds up after users start paying gas, Pons proves the product works without the subsidy. If volume drops off a cliff, the whole thesis was really about free gas and not about the platform.
Is the PONS token a good investment? It is up 18,000% since July and has a $307M market cap. The protocol generates real revenue, which is more than most tokens can say. But the token has no formal claim on that revenue, and an 18,000% gain means a lot of holders are sitting on profits they might take at any moment. Do your own research.
How does Pons compare to pools.trade? Pools.trade is Uniswap Labs’ competing product on the same chain, launched Aug. 5 with lower fees. It is newer and smaller but backed by one of DeFi’s strongest brands. They are fighting for the same users on the same network.
Is memecoin trading on Pons safe? Most tokens launched on any memecoin launchpad go to zero. Rug pulls and coordinated dumps happen constantly. The 70/30 fee split means creators are financially rewarded for generating volume, which can incentivize manipulation. Treat every trade as money you can afford to lose entirely.
Will Pons keep outearning Pump.fun? That depends on what happens after the gas waiver expires, whether Uniswap Labs takes market share, and whether regulators start looking at memecoin launchpads on centralized L2 chains. The current numbers are real. Whether they persist is a completely open question. This is educational analysis, not investment advice. —
Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency markets are volatile and speculative. Always conduct your own research before making investment decisions. Published Sept. 4, 2026.
The brokerage that brought zero-fee trading to millions just did the same thing to Layer 2. In 60 days, Robinhood Chain has gone from launch to $791 million in TVL, flipped Base in daily active users, and is now generating more daily revenue than Solana. The question is no longer whether Robinhood belongs in crypto infrastructure. The question is how far this thing goes.
Summary
Robinhood Chain launched July 1, 2026 as an Arbitrum Orbit L2 and reached $791M in TVL within 60 days, up from $4M at genesis. Daily revenue hit $4.01M on Sept. 2, dwarfing Solana’s $78K on the same day, while cumulative DEX volume crossed $47B. The Pons launchpad is driving $500M per day in memecoin volume, outpacing Pump.fun since Aug. 29, and Uniswap Labs acquired PONS for long-term alignment. Tokenized stocks on the chain recorded $4.3B in 30-day volume with an $85M daily peak on Aug. 25, creating a product no other L2 offers at that scale. With 24 million brokerage users, a native wallet, and zero bridging friction, Robinhood owns something Solana does not: a direct line to retail that requires no onboarding. Two months is nothing in crypto time. Protocols spend years grinding toward product-market fit, burning through grant programs and ambassador campaigns, hoping that one cycle will be the one where users show up and stay. Robinhood Chain skipped the line.
Launched on July 1, 2026, as an Arbitrum Orbit Layer 2, the chain did not arrive with the usual “we are building the future of finance” blog post and an airdrop teaser. It arrived with 24 million brokerage accounts already connected to a wallet that already existed inside an app that already had regulatory approval to operate in all 50 states. That is not a go-to-market strategy. That is a cheat code.
Within three weeks, the chain flipped Base in daily active users. By the end of August, it had processed 576 million transactions across 12.3 million addresses. On Sept. 2, Robinhood Chain generated $4.01 million in daily revenue. Solana, the chain that was supposed to be the retail champion of this cycle, managed $78,000 on the same day. Read that comparison again. It is not a typo.
The numbers that made people pay attention Raw transaction counts and TVL figures can be gamed. Everyone in crypto knows this. So the right move is to look at the numbers that are harder to fake: revenue, sustained DEX volume, and user retention across multiple product categories.
Robinhood Chain’s TVL climbed from $4 million at launch to $791 million by early September. That growth curve looks less like a typical L2 ramp and more like a product launch at a company that already had distribution sorted out before writing the first line of chain code. Cumulative DEX volume crossed $47 billion, with Uniswap serving as the dominant trading venue. The chain is not just moving tokens around. People are trading real size.
The revenue number deserves its own paragraph. $4.01 million in a single day is the kind of figure that L1s dream about. Solana has been running for years with thousands of applications, a massive developer community, and deep institutional partnerships. It recorded roughly $78,000 to $81,000 in daily revenue during the same window. Robinhood Chain, at two months old, is pulling in roughly 50 times more daily revenue. Even accounting for the gas subsidy distortions (more on that later), the gap is striking.
And then there is the DEX volume that slipped under the radar. Crypto Twitter was busy arguing about Solana memecoins while Robinhood Chain was quietly posting nearly $1 billion in daily DEX volume. The chain did not need a marketing campaign. The users were already inside the app.
Pons ate Pump.fun’s lunch The memecoin launchpad wars of 2025 and 2026 produced a clear winner: Pump.fun on Solana. It was the fastest, cheapest, most viral token launcher in crypto. Until it was not.
Pons, the native launchpad on Robinhood Chain, started generating $500 million per day in memecoin volume. Since Aug. 29, it has been outperforming Pump.fun on raw throughput. The acquisition of PONS by Uniswap Labs was not a casual investment. It was a strategic move to lock in alignment between the dominant DEX on the chain and the launchpad driving the most speculative activity.
This matters because memecoin volume is, for better or worse, the clearest signal of retail engagement in crypto. Institutions do not trade dog tokens at 3 a.m. Regular people do. And regular people are choosing to do it on Robinhood Chain instead of Solana, which means something shifted in the plumbing of how retail users access onchain markets.
The reason is not complicated. A Robinhood user can go from checking their stock portfolio to launching a memecoin without downloading a separate wallet, without bridging assets from another chain, and without joining a Discord server to figure out how gas works. The friction is gone. And in consumer products, friction is the only thing that matters.
Tokenized stocks changed the math Memecoins get the attention. Tokenized stocks might get the revenue.
Robinhood Chain recorded $4.3 billion in 30-day tokenized stock volume, with an $85 million daily peak on Aug. 25. This is not a concept paper or a testnet demo. Real users are trading tokenized equities onchain, at scale, through a platform that already has the brokerage license to make it legal.
No other Layer 2 can offer this. Base does not have it. Optimism does not have it. Arbitrum One does not have it. The reason is simple: building a tokenized stock product requires a brokerage license, regulatory relationships, and the willingness to put a company’s core business on the line. Robinhood already had all three. Everyone else would need years and tens of millions of dollars in legal fees to get there.
The tokenized stock product also explains why Robinhood’s stock price sits above $130, giving the company a market cap north of $40 billion. Wall Street sees what crypto natives are still processing: Robinhood is not just adding a chain to its product. It is turning its entire brokerage into an onchain platform. The chain is the product. The brokerage is the distribution.
Vertical integration is the moat Tech history has a reliable pattern. The company that owns the user wins, even if its technology is not the best. Apple did not build the best phone. It built the best ecosystem. Amazon did not build the best cloud. It built the customer relationship that made the cloud inevitable.
Robinhood is running the same playbook. One company controls the brokerage (24 million users), the wallet, the chain, and the tokenized stock product. A user can go from seeing a headline about a memecoin to owning it in under 30 seconds, without leaving the Robinhood app. No wallet downloads. No bridges. No Discord. No seed phrases written on napkins.
Compare that to the Solana experience. A new user who wants to trade on Solana needs to create a Phantom wallet, fund it through a centralized exchange, bridge assets if they are coming from another chain, navigate to a DEX, and figure out slippage settings. Each step loses users. The crypto industry has spent years pretending these friction points do not matter. They do. They always have.
Robinhood’s vertical integration is not just a convenience feature. It is a structural advantage that compounds over time. Every new product Robinhood adds to the chain benefits from the existing user base. Every existing user who tries one onchain product is more likely to try the next one. The flywheel is already spinning.
It would be dishonest to write about this competition without acknowledging what Solana brings to the table. Solana is not going anywhere.
The chain holds $5.9 billion in TVL, over $16 billion in stablecoins, and more than 1,000 live applications. Mastercard and Western Union are building on it. Firedancer, the second validator client from Jump Crypto, is coming and should improve throughput and resilience. The Solana Developer Platform launched in March and has been steadily expanding tooling. In August alone, Solana processed 5.2 billion transactions, roughly nine times Robinhood Chain’s total since launch.
These are real advantages. Solana has a deep developer community, years of battle-tested infrastructure, and institutional relationships that took a long time to build. Robinhood Chain is two months old. It has not survived a major exploit, a network outage, or a sustained bear market. Solana has survived all three and came back stronger each time.
The challenge for Solana is not that Robinhood Chain is better technology. It is that Robinhood Chain has better distribution. And in consumer markets, distribution usually wins. Solana’s response will matter. If the chain can simplify its onboarding, partner with consumer apps that bring non-crypto users onchain, and ship products like tokenized stocks that compete with Robinhood’s offering, it will hold its position. Solana has the developer talent and the ecosystem depth to do all of that. The question is speed.
The gas subsidy question Every honest analysis of Robinhood Chain needs to address the gas subsidy. Robinhood launched the chain with a 90-day gas subsidy that eliminates transaction fees for users. That subsidy expires on Sept. 29. Critics argue, fairly, that the chain’s usage metrics are inflated by free transactions and that activity will fall off a cliff when users have to start paying.
This criticism has merit but misses the bigger picture. First, subsidized launches are standard in tech. Uber subsidized rides. DoorDash subsidized deliveries. Amazon sold books at a loss for years. The strategy works when the company has the balance sheet to sustain it and the product quality to retain users after the subsidy ends. Robinhood, with a $40 billion market cap and a profitable brokerage business, has the balance sheet. Whether it has the product retention is the open question.
Second, Robinhood has options. It can extend the subsidy. It can restructure it to cover certain transaction types while charging for others. It can implement a tiered fee structure that keeps casual users free while monetizing power traders. The 90-day window was always a user-acquisition tool, not a permanent business model. What Robinhood does after Sept. 29 will tell us more about its long-term chain strategy than anything that happened in the first 60 days.
Third, even if usage drops 50 percent after the subsidy ends, the remaining activity would still make Robinhood Chain one of the most active L2s in crypto. The base of 24 million brokerage users is not going anywhere. The tokenized stock product has no real competitor. The vertical integration means switching costs are high even when gas is not free.
The regulatory tailwind The SEC’s approach to crypto asset regulation has been the biggest wildcard for the industry. But for Robinhood specifically, the regulatory environment is turning into a tailwind rather than a headwind.
The SEC is hosting a 24-hour trading roundtable on Sept. 17. The conversation has shifted from “should crypto exist” to “how do we let people trade it around the clock.” That is Robinhood’s entire thesis. A brokerage that already offers crypto, stocks, and options wants to let users trade all of them, 24/7, onchain. The roundtable could accelerate the regulatory clarity that makes tokenized stocks a mainstream product rather than a niche experiment.
The Clarity Act moving toward a Senate vote around Sept. 15 adds another layer. If the legislation passes, it would provide clearer rules for which digital assets are securities and which are commodities. That clarity benefits Robinhood more than almost any other company in crypto because Robinhood is already regulated as a broker-dealer and can move quickly once the rules are defined.
Meanwhile, stablecoin infrastructure is maturing across the industry, creating the payment rails that tokenized stock trading needs to function smoothly. Circle’s Arc mainnet launch signals that the plumbing for institutional-grade stablecoin settlement is falling into place right as Robinhood needs it.
What to watch The next 90 days will determine whether Robinhood Chain is a real platform or a subsidized sugar rush. Five indicators will tell the story:
Post-subsidy retention rate. The gas subsidy expires Sept. 29. If daily active users hold above 60 percent of their Aug. peak after two weeks without free gas, the chain has real product-market fit. If they drop below 30 percent, critics were right. Tokenized stock volume after the SEC roundtable. The Sept. 17 roundtable could either accelerate or complicate tokenized stock trading. Watch the 30-day volume number in October. If it climbs past $6 billion, institutions are paying attention. Pons vs. Pump.fun divergence. Memecoin launchpads are fickle. If Pons maintains its lead over Pump.fun through October, it means Robinhood Chain has captured the marginal retail trader, not just the curious one. TVL composition shift. $791 million in TVL is impressive. But if that TVL is mostly stablecoins parked for gas subsidy farming, it will evaporate. Watch for a shift toward locked liquidity in DEX pools and lending protocols as the sign that capital is committed, not tourist. Developer activity outside Robinhood. The chain needs third-party applications to survive long term. If independent teams start deploying on Robinhood Chain in Q4, the ecosystem is growing beyond one company’s product roadmap. Is Robinhood Chain a Layer 1 or Layer 2? It is a Layer 2, specifically an Arbitrum Orbit chain. That means it inherits Ethereum’s security while running its own execution environment. Robinhood chose this architecture for speed to market and because Arbitrum’s tooling let them customize the chain for their specific products like tokenized stocks.
How is Robinhood Chain making more revenue than Solana? The short answer is volume and fees. Robinhood Chain is processing massive DEX and tokenized stock volume through a small number of high-value products. Solana spreads activity across over 1,000 applications, many of which generate minimal fees. Revenue is not the same as adoption. Solana has far more developers and applications. But on a pure dollar-in, dollar-out basis, Robinhood Chain is pulling ahead right now.
What happens when the gas subsidy ends on Sept. 29? That is the million-dollar question. Robinhood has the balance sheet to extend or restructure the subsidy, and most analysts expect some form of continued incentive rather than a hard cutoff. Even if fees kick in, Robinhood can keep them low because Arbitrum Orbit L2s have cheap operating costs. The real test is whether users who came for free gas stay for the products.
Can Solana respond to this? Absolutely. Solana has a massive developer community, deep institutional relationships, and Firedancer coming to improve performance. Solana’s path forward is to simplify onboarding for non-crypto users, build or partner for tokenized stock products, and leverage its ecosystem breadth. The challenge is doing all of that fast enough. Robinhood is moving at startup speed with Fortune 500 resources.
Are tokenized stocks on Robinhood Chain real securities? They are tokenized representations of real equities, issued through Robinhood’s existing brokerage infrastructure. Robinhood already has the regulatory licenses to offer stock trading, and the tokenized versions operate within that framework. The exact regulatory classification may evolve as the SEC clarifies its position, but Robinhood is better positioned than almost anyone to operate within whatever rules emerge.
Why did Uniswap Labs acquire PONS? Uniswap is the dominant trading venue on Robinhood Chain. PONS is the dominant token launchpad. By acquiring PONS, Uniswap Labs locked in vertical integration on the chain’s most active product. Every token launched on PONS gets traded on Uniswap. The acquisition makes sure that relationship stays permanent rather than being disrupted by a competing DEX.
Is Robinhood Chain a threat to Ethereum? Not directly. Robinhood Chain is built on top of Ethereum’s security through Arbitrum. In many ways, Robinhood Chain’s success is Ethereum’s success because it drives demand for Ethereum’s data availability and settlement layers. The chains it most directly threatens are other L2s like Base and Optimism, and L1s like Solana that compete for retail trading activity.
Should I move my assets to Robinhood Chain? That depends on what you are trying to do. If you want access to tokenized stocks and low-friction memecoin trading, Robinhood Chain offers something unique. If you want a deep DeFi ecosystem with hundreds of protocols, Solana or Ethereum mainnet still have more options. Every chain involves trade-offs, and moving assets always carries smart contract risk. This is educational analysis, not investment advice. —
Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or trading advice. Crypto markets are volatile. Always do your own research. Published Sept. 4, 2026.
Trump says Iran conflict 'not a major issue for the US': Current situation is not a state of war.
US President Donald Trump said on local time September 4 that the more than six-month US-Iran conflict is "small potatoes" for the US, adding that it is more appropriate to define it as a "military conflict" rather than a war. Trump noted that the US is currently only conducting "intermittent strikes" with no sustained fighting between the two sides, and he expressed understanding for Vice President JD Vance’s earlier remark that "it should not be called a war". Trump also stated that the conflict has killed 18 US service members, but its scale is "not large" compared to conflicts like the Vietnam War that claimed tens of thousands of US troops, while emphasizing that "losing even one person is too many". Trump further claimed that the US has achieved "significant results" on the Iran issue, with its core goal being to prevent Iran from acquiring nuclear weapons. According to reports, the conflict has driven up energy prices and brought domestic political pressure to the Trump administration. US public approval of Trump’s handling of the Iran conflict is low, and the Republican Party faces pressure to retain its congressional majority in the November midterm elections.
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A $70 million Bitcoin movie has entered post-production, with its plot suspected to portray Craig Wright as Satoshi Nakamoto.
The film *Bitcoin*, directed by Doug Liman and starring Gal Gadot, Casey Affleck, Pete Davidson, Isla Fisher, and others, has a budget of approximately $70 million and is currently in post-production. Reportedly centered on Bitcoin’s origins and the identity of Satoshi Nakamoto, the movie leans toward portraying Craig Wright—who claims to be Bitcoin’s inventor—as Satoshi Nakamoto, a premise that has sparked controversy in the crypto community. Content creator Terence Michael noted that the film may push the narrative that "Craig Wright is Satoshi Nakamoto" to mainstream audiences, further intensifying the debate over Satoshi Nakamoto’s true identity. Earlier, a UK court ruled that Craig Wright is not Satoshi Nakamoto, and the related controversy had cooled down for a time. The film is written by Nick Schenk, produced by Ryan Kavanaugh and Lawrence Grey, with Wright supporter Calvin Ayre also involved; no major US distributor has been confirmed for the project yet.
3 minutes ago
A mysterious crypto whale has bought another 343,000 HYPE tokens, bringing its total holdings to 3.24 million HYPE, all of which are staked.
According to Lookonchain’s monitoring, the mysterious whale address 0x6436 has purchased an additional 343,000 HYPE tokens, valued at approximately $29.09 million. As of now, the address has accumulated a total of around 3.24 million HYPE tokens, with a total value of roughly $252 million, and has staked all of its HYPE holdings.
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The "stock market version of Pokémon GO" meme coin GRASS briefly surged past $13.6 million in market capitalization this morning, hitting a new all-time high.
According to GMGN market data, the Robinhood ecosystem meme coin GRASS briefly surged past $13.6 million in market cap early this morning, hitting an all-time high, and has since pulled back to $8.3 million. It has recorded a 111% 24-hour price increase and a $8.7 million 24-hour trading volume. GRASS combines the internet meme "Touch Grass" with the gameplay of a stock-themed Pokémon GO. The project is officially positioned as a game, where tokenized fractional shares of real stocks (including AAPL, NVDA, TSLA, GME, etc., on Robinhood Chain) "spawn" at the physical locations of their respective companies—such as Apple Stores, GameStop outlets, Tesla showrooms, etc. Users can claim these tokenized stock fractions to their wallets by tapping on them when nearby. BlockBeats reminds users that most meme coins lack practical use cases and are highly volatile; please protect your assets and avoid FOMO.
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Bitcoin is once again exhibiting characteristics of an "amplified version of gold", though the four-year cycle theory warns that the market still faces downside risks ahead.
Bitcoin has recently re-emerged as a safe-haven asset, hitting a four-month high of $82,262 this week before pulling back to around $79,800. André Dragosch, head of European research at Bitwise, said that amid rising macroeconomic uncertainty and currency devaluation risks, investors are increasingly viewing Bitcoin less as a high-risk tech asset and more as a store of value. Dragosch noted that Bitcoin’s 90-day price correlation with gold is near its highest level in six years. He argued that as macro forces strengthen and currency devaluation risks rise, investors are blurring the lines between Bitcoin and gold, with the cryptocurrency recently acting as an “amplified version of gold”. However, the four-year cycle theory remains a headwind for Bitcoin’s outlook. The theory links Bitcoin’s bull-bear cycles to its halving events. Fidelity projects that if historical cycle patterns hold, Bitcoin’s next bear market bottom could land around November 2026. Alex Thorn, head of research at Galaxy, previously estimated that the baseline scenario for this correction would bottom in the $40,000 to $46,000 range. Chris Kuiper, vice president of research at Fidelity Digital Assets, argued that the four-year cycle is not an exact timing rule, meaning it does not guarantee Bitcoin will decline later this year, and a long-term perspective and holding period have historically been more beneficial for investors.
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Circle Details cirBTC Reserve Mechanism, Emphasizing 1:1 BTC Backing, Segregated Custody and On-Chain Reserve Verification
Circle recently released details on the reserve mechanism for its wrapped Bitcoin product cirBTC, emphasizing that cirBTC is backed 1:1 by native BTC, with segregated asset custody and an on-chain verifiable reserve model. According to Circle, cirBTC is now live on Ethereum; it will offer native support after the Arc mainnet launches, and plans to gradually expand to more blockchains. Each cirBTC is 1:1 backed by one native BTC and can be redeemed for native BTC at a 1:1 ratio. For reserve management, the relevant BTC is held by a Circle affiliate and custodied by Circle National Trust, which is regulated by the U.S. Office of the Comptroller of the Currency (OCC). Reserve assets are segregated from Circle’s corporate assets and used exclusively to protect cirBTC holders’ rights and interests. Furthermore, Circle enables on-chain reserve verification via public BTC reserve addresses and the Chainlink Proof of Reserve mechanism. Market participants can monitor the size of reserve BTC and compare it with cirBTC circulating supply on each supported chain to confirm that cirBTC circulation does not exceed the underlying BTC reserve. Circle noted that this model is designed to provide institutions with a more transparent wrapped BTC reserve standard, and to support BTC as collateral for on-chain smart contract use cases including lending, trading, and settlement.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
DeFi Development Corp. has priced its Variable Rate Series C Perpetual Preferred Stock at $8.00 per share, pulling in roughly $11 million through the sale of 1,375,000 shares. The stock will trade on Nasdaq under the ticker CHAD.
The company, which rebranded from Janover Inc. in 2025, plans to funnel the proceeds into acquiring Solana and other digital assets.
How the CHAD stock actually works The preferred shares carry a stated amount of $10, meaning they were issued at a discount to par. The initial cumulative annual dividend rate sits at 13%, payable daily, with the first payment scheduled for October 1, 2026.
The board retains the right to adjust the dividend rate as needed, which is what the “variable rate” in the name refers to.
The CHAD stock is perpetual and nonconvertible. It won’t turn into common shares down the road, and the preferred sits senior to common stock in the capital structure, giving CHAD holders priority on dividends and liquidation proceeds.
Underwriters also secured a 30-day option to purchase up to an additional 206,250 shares. Settlement for the initial tranche is set for September 8, 2026.
A Solana-first treasury strategy DeFi Development Corp. has positioned itself as the first US public company to build a treasury strategy centered on accumulating Solana. The company currently holds approximately 2.33 million SOL or equivalent assets.
The strategy blends SOL accumulation with staking activity. The company buys Solana, stakes it to earn network rewards, and reports those holdings to shareholders through standard public company disclosures.
This offering’s proceeds are earmarked for more SOL purchases, strategic transactions, and growth initiatives. A portion of the raise will also be set aside as a dividend reserve at the close of the transaction.
From fintech lender to crypto treasury play As Janover Inc., the business operated as a fintech platform focused on commercial real estate lending. The 2025 rebrand to DeFi Development Corp. marked a strategic pivot toward combining those traditional fintech operations with a Solana-centric treasury model.
What this means for investors and the broader market At the $8.00 purchase price with a $10 stated amount generating 13% annually, the effective yield on invested capital comes out higher than the stated rate. The dividend is variable and the underlying treasury is denominated in a volatile digital asset.
The nonconvertible, perpetual structure means CHAD shares can’t convert into common stock, so existing DFDV shareholders maintain their proportional ownership. The preferred holders get yield and seniority, but not a future claim on the common equity.
A sustained downturn in SOL’s value could force the company to sell treasury assets at depressed prices to fund distributions. The variable rate mechanism gives the board some flexibility to adjust, but the company’s 2.33 million SOL position concentrates its fortunes in a single blockchain ecosystem.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Solana Mobile has announced CLOCK IN, a 30-day hackathon organized by RadiantsDAO, running from September 8 to October 8. The competition offers $135,000 in total prizes to developers building mobile-first applications for the Solana ecosystem.
The event marks Solana Mobile’s 3rd hackathon and represents another push to expand the developer community around its Seeker Android device, Solana Mobile Stack, and dApp Store.
The prize structure includes 10 grand prize awards worth $10,000 each and 5 honorable mentions worth $5,000 each. Organizers will also award a separate $10,000 SKR bonus for the project that delivers the strongest integration with the Solana Mobile Stack.
Winners can also receive Seeker devices, dApp Store placement, marketing support, and 1-on-1 consultations with Solana co-founder Anatoly Yakovenko.
CLOCK IN Builds on Earlier Hackathons Solana Mobile has already used hackathons to encourage developers to build for its mobile ecosystem. The first hackathon, held in 2025, offered a $100,000 prize pool. The second event, MONOLITH, saw over 400 completed submissions from teams across 66 countries.
MONOLITH ran for 5 weeks and concluded in early March 2026. Its 400+ submissions represented a 44% increase in participation compared with the inaugural hackathon.
RadiantsDAO also partnered with Solana Mobile on MONOLITH and now organizes CLOCK IN.
Builders Face Specific Technical Requirements CLOCK IN does not simply invite developers to package existing websites into Android applications. Under the hackathon rules, a project must have started no earlier than 3 months before the published launch date. Existing projects can participate if they meet that requirement and demonstrate significant new mobile development during the hackathon. Teams with existing web applications can also enter, but their submissions must include a functional Android application with meaningful mobile-specific development.
Each project must produce a functional Android APK, integrate the Solana Mobile Stack and Mobile Wallet Adapter, and interact meaningfully with the Solana network. Submissions must include the Android APK, a GitHub repository containing the source code, a demo video, and a pitch deck or brief presentation.
Judges Will Focus on More Than Technology CLOCK IN judges will score eligible projects across 4 equally weighted categories:
Stickiness and product-market fit accounts for 25% and measures how well a project connects with the Solana Mobile and Seeker community while encouraging repeated engagement.
User experience represents another 25%, covering usability, polish, and the quality of the mobile experience.
Innovation and X-Factor makes up 25% and considers novelty, creativity, and differentiation.
The final 25% goes to presentation and demo, which evaluates how clearly teams explain their projects and demonstrate their functionality.
Following the Seeker Ecosystem SolanaFloor and Solana Mobile run Shipped, a monthly livestream focused on builders, applications, and products launching on Seeker. The next episode on September 9th features Solana Mobile General Manager Emmett Hollyer, RadiantsDAO, and BackYard Finance, a previous hackathon winner, with discussion covering Seeker Summer, Season 2, and the upcoming CLOCK IN hackathon.
To keep up to date on all things Solana Seeker and stay on top of all the device’s exclusive perks and rewards, visit SolanaFloor’s Seeker Hub.
Read More on SolanaFloor Vida Global CEO Acknowledges Meme/Stock Pairing Trying to ‘CTO’ His Company
Solana Records $144M in August App Revenue, Leading All Chains
@Ondo has added STRCon to its growing roster of tokenized assets with round-the-clock minting and redemption, giving eligible investors continuous on-chain access to @Strategy's variable-rate Stretch preferred stock, $STRC.
What STRCon Offers
Always-On Infrastructure Keeps Expanding
Most of the platform's catalog, however, remains on weekday-only minting hours, with the always-on set covering a select group of assets.
Sources:
Ondo Finance: Real 24/7 Trading for Tokenized Stocks (Official Blog)
Crypto.news: Saturn Adds Ondo Tokenized Stocks to STRC Products
The Defiant: Ondo Finance Launches 24/7 Minting and Redemption for Tokenized US Stocks and ETFs
Solana-based memecoin USELESS staged a rapid rally, briefly outpacing established competitors amid a surge in both spot and derivatives trading. During the latest session, USELESS saw its market capitalization rebound above $200 million following a significant increase in trading activity.
Trader profile: “Bonk Guy” rides USELESS resurgenceOnchain analytics platform Lookonchain reported that renowned trader Unipcs, commonly known as “Bonk Guy,” currently holds 15.9 million USELESS tokens valued at approximately $4.06 million. At the time of reporting, nearly $3.2 million of this figure represented unrealized profit.
Unipcs began acquiring USELESS tokens after its price sharply declined to a market capitalization of about $30 million five months ago. Just 24 hours before the latest rally, Unipcs’ position was valued at around $2.52 million, with $1.68 million in unrealized gains—a reflection of the token’s heightened volatility.
Lookonchain observed that Unipcs’ rapid rise in gains highlighted “how quickly the latest rally changed the trade.”
USELESS’s swift appreciation focused market attention on those able to capitalize on its wild price swings, particularly established traders with a history of navigating Solana’s speculative landscape.
Mini dictionary: Lookonchain – A blockchain data analytics provider that tracks real-time wallet movements and large trading actions across various crypto networks.
Memecoin rankings see rapid intraday shiftsIn the latest 24 hours, USELESS jumped between 60% and 70%, trading near $0.23 with a market capitalization reaching approximately $230 million. Over the past week, the token’s gains exceeded 250% on several market data platforms.
According to Lookonchain, USELESS temporarily overtook other Solana memecoins such as BONK and ANSEM in terms of market capitalization. However, CoinGecko data shortly after showed BONK resuming its position with a $274 million market cap. These rapid changes illustrated the high volatility and fluid nature of memecoin rankings on Solana.
TokenPeak Market Cap (session)Latest Market CapUSELESS$230 million$230 millionBONK$274 million$274 millionANSEMN/AN/AThis competitive ecosystem has kept attention on Solana’s memecoin space, where BONK, WIF, and new entrants continuously contend for liquidity and community engagement.
Derivatives volumes outpace market capUnipcs cited USELESS’s 24-hour spot volume at around $167 million, while perpetual-futures trading volume hit a striking $1.87 billion. On Binance, open interest in perpetual contracts approached $32 million, underscoring the scale of derivatives trading relative to the token’s total market capitalization above $200 million.
Perpetual-futures activity outpaced spot trading by a wide margin, highlighting amplified risks and potential for sharp reversals in memecoin markets.
High leverage in derivatives markets can accelerate both gains and losses, especially as aggressive short positions are unwound or long trades are rapidly liquidated. Solana memecoins tend to be driven more by liquidity and social-media trends than by underlying fundamentals, increasing market volatility.
Unipcs has previously cautioned followers against imitating his trading moves without understanding the risks. Based on Lookonchain’s analysis, he once turned a $16,000 BONK position into $20 million, demonstrating both the potential windfalls and significant dangers inherent in such trading strategies.
The latest rally in USELESS marks a renewed phase of speculative activity in the Solana memecoin sector, where leveraged derivatives volumes now often outpace even major token valuations.
Tokenized equities, blockchain-based versions of traditional stocks and ETFs, have crossed $3 billion in weekly trading volume and $110 million in total value locked. What was a rounding error a year ago is now a functioning parallel market for securities, running 24/7 on decentralized exchanges.
Three chains are driving nearly all of it: Solana, Binance’s BNB Chain, and the newly launched Robinhood Chain.
Solana built the market, then got company For most of early 2026, Solana was the tokenized equity market. During Q2, the chain processed roughly $5.8 billion in tokenized equity volume, capturing somewhere between 95% and 97% of all global DEX trading in the category. Platforms like Raydium, xStocks, and Backpack’s Sunrise handled the bulk of that flow.
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The year-over-year numbers are staggering. Solana’s tokenized equity trading volume went from $1.34 million to $3.32 billion, a jump of approximately 2,400%.
A major catalyst was the SpaceX IPO in June 2026, which sent holder counts and transaction volumes surging as traders piled into tokenized representations of shares.
Robinhood Chain launches and immediately competes Robinhood Chain went live on July 1, 2026. Within weeks, it was averaging $29.7 million in daily trading volume, overtaking Solana’s major tokenized equity venues, which were running at roughly $24.5 million per day by late July.
A significant portion of Robinhood Chain’s early activity came from memecoins rather than actual equity tokens. The chain initially saw more speculative asset trading than genuine stock-equivalent activity.
Binance’s bStocks is the quiet giant By late July, bStocks was reporting roughly $676.8 million in average daily DEX trading volume. For the full month of July, bStocks contributed $9.41 billion out of the market’s $11.3 billion total. That’s over 83% of all tokenized equity volume in a single month, from a single platform on a single chain.
What’s actually driving these volumes Much of the trading activity across all three chains has been influenced by memecoins and incentive programs linked to tokenized stocks. Platforms have offered trading rewards, liquidity mining incentives, and other mechanisms that inflate volume beyond what organic demand alone would produce.
There’s also the question of what tokenized equities actually offer over traditional brokerage accounts. The pitch is 24/7 trading, fractional ownership, composability with DeFi protocols, and global access without the gatekeeping of traditional financial intermediaries. For someone in a country without easy access to US stock markets, buying a tokenized version of Apple or Tesla on a DEX is genuinely useful. For a US-based Robinhood user who can already buy fractional shares commission-free, the value proposition is less obvious.
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