Track market-moving stories before they get noisy

17h05 ▪ 5 min read ▪ by Eddy S.

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Friday, Fomo created a surprise by surpassing Pump.fun in daily revenues with 1.76 million dollars against 1.1 million dollars for Pump.fun, according to DefiLlama. A media feat, but insufficient to eclipse Pump.fun’s dominance over the month which it crushes with 57 million dollars versus 17.6 million dollars. Yet, the crypto market seems indifferent because the PUMP token has risen by 7.8% in 24h! As if this news had no importance. A striking disconnect between the day’s figures and the reality of prices.

In brief Fomo generated 1.76 million dollars in revenue on Friday, ahead of Pump.fun which had 1.1 million dollars. Over 30 days, Pump.fun dominates with 57 million dollars compared to 17.6 million dollars. The PUMP token climbed 7.8% in 24h, with 147,000 holders. Pump.fun VS Fomo, the Revenue Duel with Supporting Figures Friday, Fomo overtook Pump.fun with 1.76 million dollars in revenue, against 1.1 million for its competitor. A performance that made headlines, but should not overshadow the abysmal gap over 30 days which is 57 million dollars for Pump.fun against 17.6 million for Fomo, according to DefiLlama. These figures remind us that crypto is a marathon, not a sprint. Yet, the media seized this ephemeral victory to make it a symbol. But investors, they, seem to look elsewhere. Why? 

Because one day’s revenue does not reflect the health of an ecosystem. Pump.fun, despite its temporary defeat, remains a key player, with a solid base and massive adoption. Fomo, for its part, proves it can compete but will need to confirm in the long run. The question remains open. Will this performance be enough to convince PUMP holders to switch sides?

Who is Fomo, the Newcomer who Wants to Overshadow Pump.fun? Fomo is a social trading platform that bets on interactivity to attract crypto users. In June, it raised 75 million dollars in Series B, led by Index Ventures, for a valuation of 550 million dollars. Its approach is to allow users to see and replicate others’ trades, like on a social network. Result, 68,000 first crypto purchases via Apple Pay, for a volume of 25 million dollars. Good figures, but will they be enough to dethrone Pump.fun? Fomo bets on innovation and community engagement to differentiate itself. It remains to be seen if this strategy will pay off in the long term.

The Crypto Market doesn’t Care About Fomo’s Daily Ranking Here lies the real paradox. Fomo savors its brief victory over Pump.fun, but the PUMP token soars by 7.8% in 24h, with 147,000 holders. Is the crypto market right to ignore the press headlines? Or do crypto investors see beyond the day’s figures? One thing is certain, between platform revenues and token performance, the correlation is far from obvious.

The PUMP token seems to follow its own logic, indifferent to media battles. Token holders may have understood that one day’s revenue does not make a trend. Or they might simply be betting on Pump.fun’s resilience, despite its ups and downs. In any case, the market sends a clear message. One day’s fundamentals do not dictate crypto prices. And if the press gets excited for a duel, investors keep their feet on the ground.

Takeaways from the Rivalry Between Fomo and Pump.fun Fomo surpassed Pump.fun for only one day in revenue, but remains far behind over 30 days. PUMP climbed 7.8% despite its platform’s defeat. The crypto market ignores occasional performances in favor of a long-term vision. Fomo won a battle, but Pump.fun definitely remains the king. And PUMP, seems to have already turned the page. The crypto market, indeed, has its own rules.

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Eddy S.

The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.

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.

Solana plans to increase its maximum transaction size from 1,232 bytes to 4,096 bytes on Wednesday. The change is set to give developers more flexibility when designing transactions, while legacy formats will remain supported across the network.

Expanded transaction capacityThe larger limit aims to enable certain complex activities—including larger cryptographic proofs, multi-approval payments, and some confidential transfers—to be completed in a single Solana transaction rather than requiring several. Solana previously capped transaction size at 1,232 bytes, mainly due to legacy network constraints that required transactions to fit within a typical 1,280-byte internet packet.

Ethereum, another leading blockchain network, does not enforce a fixed transaction size. Instead, Ethereum users can include larger amounts of data when paying the necessary fees. Solana’s move brings its processing ability closer to that of data-flexible blockchains, potentially attracting more advanced developers and enterprise use cases.

BlockchainPrevious Transaction Size LimitNew Transaction Size LimitTransaction Size FlexibilitySolana1,232 bytes4,096 bytesFixed, but increasedEthereumVariable, by feeVariable, by feeFlexible, based on feeTechnical upgrade and developer impactThe upgrade—known as Transaction v1—has been active on Solana’s development and test networks. Developers will be able to use either the new, larger transaction format or continue with current formats unless a given application requires the larger capacity.

The Solana Foundation, the nonprofit supporting Solana blockchain, stated that this change is backward compatible. Wallets and applications that do not require the larger limit do not need to update immediately, although some backend services and blockchain data providers must add support for Transaction v1 to ensure stability across the ecosystem.

Solana has implemented Transaction v1 in test environments to prepare for the rollout. Existing transaction formats will still work, allowing for a gradual transition for app developers and service providers.

Systems that read Solana blocks and transaction data must recognize the new format; otherwise, requests might fail. Priority fee information is also stored in a different section for Transaction v1, raising the need for updates in some data providers to maintain correct reporting.

Incorrect processing of transaction data can lead to user-facing platforms such as wallets, blockchain explorers, and trading apps displaying inaccurate details, a situation Solana’s engineering team advises service providers to avoid by upgrading promptly.

Mini dictionary: Solana Foundation, a nonprofit organization supporting the growth, development, and adoption of the Solana blockchain ecosystem through grants, education, and community resources.

Network effects and fee structureAllowing bigger transactions is expected to increase network bandwidth use. With multiple large transactions competing for limited network resources, some users may have to pay higher priority fees to ensure timely processing. However, no additional fee based on transaction size is being introduced at this stage. Priority fees will remain optional and continue to depend on network demand and processing needs.

The decision to lift the size cap follows Solana’s transaction traffic system overhaul in 2022. The updated 4,096-byte threshold aligns with a standard four-kilobyte memory page widely used in validator hardware, offering technical consistency and potential performance improvements.

Governance and proposalsSolana’s community and technical leadership coordinated on this upgrade through formal proposals. The change is defined by two proposals, SIMD-0296 and SIMD-0385, co-authored by Jacob Creech and engineer Andrew Fitzgerald, who both serve in technical roles at Solana.

These proposals are separate from recent governance votes, including those regarding SOL issuance and changes to the network’s fee or supply mechanisms.

Solana just quietly climbed into the top four platforms for Zcash spot trading volume, processing roughly $64 million in ZEC trades over a 24-hour period. That puts a decentralized ecosystem in the same conversation as Binance, Coinbase, and Kraken, three of the largest centralized exchanges on the planet.

The figure represents a 220% jump from prior metrics and gives Solana about a 5.35% share of global ZEC spot trading.

How Solana stacks up The leaderboard for ZEC spot volume tells an interesting story. Binance sits at the top with $481.6 million. Coinbase follows at $281.8 million, then Kraken at $124.2 million.

Solana’s $64 million sits in fourth place. That bridged ZEC on Solana carries a reported tokenized value of $112.8 million. Cross-chain infrastructure like OmniBridge has been the plumbing behind this growth, funneling Zcash liquidity into Solana’s DEX ecosystem. Platforms like Raydium and Orca have absorbed most of this trading activity, with cumulative DEX volumes for ZEC-related assets reportedly exceeding hundreds of millions over recent periods.

One ZEC variant on Solana showed a 36.83% change over 24 hours.

The privacy token tailwind This surge didn’t happen in a vacuum. Grayscale launched a spot ZEC exchange-traded product, giving traditional finance an easier entry point into the privacy coin.

Zcash uses zero-knowledge proofs to offer optional privacy on transactions. The Grayscale product essentially validated ZEC’s staying power for a segment of investors who needed a regulated wrapper before allocating capital.

What Solana’s rise means for DeFi privacy The risk is that bridged assets carry their own set of vulnerabilities. Cross-chain bridges have been the single largest attack surface in DeFi over the past few years, responsible for billions in losses. Every dollar of wrapped ZEC on Solana depends on the security of the bridge that created it. A $112.8 million tokenized value sitting on bridge infrastructure is a meaningful honeypot.

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

ARK Invest founder Cathie Wood’s ARK Innovation ETF purchased 28,589 shares of Robinhood (HOOD) on September 4. At the day’s closing price of $122.11, the stake is valued at roughly $3.5 million. The move marks a re-addition to Robinhood after Wood recently trimmed her holdings in the stock; she had previously sold 25,009 shares on August 26. Robinhood’s share price has surged over 30% in the past month, while Bitcoin rose around 23% over the same period to near $80,000. On September 4, Deutsche Bank lifted Robinhood’s price target from $115 to $136 and retained its “Buy” rating, citing that fee revenue from Robinhood Chain has grown far beyond expectations. Data shows the daily revenue of the chain stood below $200,000 in mid-August, but jumped to $3.38 million on September 1 and $4.01 million on September 2. Deutsche Bank projects its annualized run rate will exceed $100 million. As of September 4, Robinhood ranks as the seventh-largest holding in the ARK Innovation ETF, making up 4.28% of the fund’s weight. Separately, Wood has recently added positions in Veracyte, Intellia Therapeutics, and the 3iQ Solana Staking ETF, while trimming stakes in Tempus AI and Twist Bioscience.

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Following its explosive August breakout, XRP is trying to create a stable bullish structure. Although the asset is currently trading comfortably above the major moving averages at $1.42, price action since the initial surge indicates that buyers are still having difficulty resuming the advance. 

Support range for XRPRight now, the 200-day moving average is around $1.35, which is the most crucial level. Since late August, XRP has conducted numerous tests in this area without yielding a conclusive breakdown. Thus, $1.35–$1.36 is the main support range. This area is further strengthened by the 20-day moving average, which is also coming in from below at roughly $1.32. $1.45 is the initial resistance on the upside. 

XRP/USDT Chart by TradingViewAnother attempt at $1.50–$1.55, where XRP previously encountered significant selling, could be opened by a clean daily close above it. The price spent very little time at the extreme wick toward $1.70, so it should not yet be considered established resistance. The momentum is still in favor. 

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The RSI is currently at about 62, significantly lower than the overbought readings produced during the August breakout. As a result, XRP can continue to grow without becoming technically overheated.

Bulls currently benefit from consolidation above $1.35. The recovery would be significantly weakened if that level were lost, and $1.32 and then $1.23 would come into focus. 

Solana stays aboveAfter gaining more than 3% during the current session, Solana has maintained one of the cleaner recovery structures on the chart, trading at about $106.50. SOL is currently trading above all of the major moving averages displayed, having recovered significantly from its June lows. 

SOL/USDT Chart by TradingViewThe $108–$110 range is the current obstacle. Before going into consolidation, SOL hit about $110 during the late-August rally, and buyers have not yet been able to break that high. There would not be much technical resistance in the vicinity if the price continued to rise through $110. 

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Support has emerged between $100 and $102, where buyers have been drawn in by a number of recent pullbacks. The next significant dynamic support is the rising 20-day moving average around $95.30 below that. Another significant structural level is the 200-day average of about $91. 

Although there is still plenty of momentum, caution is advised. The RSI is close to 68, and the signal average is above 72. As a result, even though SOL has cooled since the initial breakout, it is once again approaching overbought conditions. 

The overall setup continues to favor buyers as long as SOL stays above $100. While losing $100 could lead to a deeper retracement toward $95 and possibly $91, breaking $110 would reinforce the bullish continuation scenario.

Hyperliquid near $100With HYPE rising to about $89 after gaining more than 4% during the current session, Hyperliquid is still outperforming the overall market. The recent action continues the robust surge that started on August 18, when the value of the token was less than $60. The technical structure remains overwhelmingly bullish. 

HYPE/USDT Chart by TradingViewThe price is currently far above all significant moving averages, and HYPE has continuously produced higher highs and higher lows. The longer averages are still centered around $64–$66, but the 20-day moving average has increased to about $76.91. At $56.47, the 200-day moving average is significantly lower. 

The psychologically significant $90 area is now being tested by HYPE. The token would enter price discovery if there were a strong breakout above this level, with $92–$95 emerging as the next natural zone to watch. However, the gap between the price and its moving averages also reveals the extent of the rally. 

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Right now, the RSI is at 68.5, which is slightly below the conventional overbought level. It is worth noting that momentum has somewhat decreased even as HYPE hits new highs, which increases the likelihood of consolidation but also leaves the door open to further upside. 

The first significant support is located between $84 and $85. The rising 20-day average around $77–$80 would become significant below that. HYPE's overall bullish structure does not change unless it loses these levels. 

Bitcoin stands under pressureAfter a strong breakout from about $63,000 in August, Bitcoin is still consolidating around $80,000. Although buyers have repeatedly failed to create a sustained move above $81,000, Bitcoin is currently trading close to $79,960.

Instead of a proven reversal, the current structure is more akin to high-level consolidation. Demand for Bitcoin has consistently been found between $77,000 and $78,000; the most recent surge briefly pushed the price above $81,000 before being rejected once more. $81,000–$82,000 is now the most immediate resistance range. 

BTC/USDT Chart by TradingViewAdditionally, Bitcoin maintains a significant distance from its main moving averages. While the 200-day moving average is close to $72,638, the 20-day average has increased to about $75,124. Additional averages between $69,400 and $70,000 further support the overall improvement in market structure following the August breakout. 

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Momentum is still high. After previously entering overbought territory, the RSI is currently close to 67. Although another strong move toward $82,000 might quickly push momentum back into overheated conditions, this gives Bitcoin some additional room to grow. 

The strongest indication that the rally is resuming would be a daily breakout above $82,000, which could open up the $84,000–$85,000 area. The first crucial level of defense on the downside remains $77,000. 

Solana recorded a significant increase in the distribution of real-world assets (RWAs), with the total value reaching $4.23 billion after a net gain of $348 million over the last 30 days. Figures released by the RWA Foundation place Solana at the forefront of RWA adoption among major blockchains, surpassing both Ethereum and Stellar in net growth.

Solana drives real-world asset expansionThe RWA Foundation, an industry-focused organization tracking tokenized real-world assets, reported the latest figures using data from RWA.xyz. These assets represent investments such as government bonds, private credit, investment funds, and equities that are digitized and made accessible through blockchain technology.

Solana’s distributed RWA value rose 11.13% over the period, far outpacing Ethereum’s 0.77% growth and Stellar’s 5.22% gain. Meanwhile, XRP Ledger’s RWA value fell by 5.51%, and Avalanche registered a 14.06% decline.

The RWA Foundation described Solana as “leading the pack,” noting that the net increase reflects new assets issued on Solana minus redemptions and inter-network transfers during the month, rather than trading volume or transaction count.

These numbers provide insight into the blockchain’s role in the growing market for tokenized real-world assets, distinct from the total value of assets on all platforms or the more familiar decentralized finance (DeFi) total value locked metric.

Mini dictionary: RWA Foundation – An independent entity tracking the adoption, distribution, and development of real-world asset tokenization across public blockchain networks.

Blockchain30-Day RWA Net ChangePercentage ChangeSolana$348 million+11.13%Ethereum—+0.77%Stellar—+5.22%XRP Ledger—-5.51%Avalanche—-14.06%These shifts reflect patterns in subscriptions, redemptions, and transfers among networks, as well as changes in underlying asset values, rather than just user transactions.

SOL price outlook and technical structureWith the backdrop of rapid RWA growth, Solana’s native token SOL traded near $103. Key support levels, formed by recent Fibonacci retracement points, have converged between $99.14 and $102.50, giving traders a clear zone to monitor for the next move.

Analysts at More Crypto Online highlighted that SOL remains in a corrective phase, with recent price action bouncing off the $98 level. The technical structure is described as an overlapping three-wave formation, part of an Elliott Wave corrective pattern rather than the start of a new bullish cycle.

RWA Foundation called Solana’s performance “leading the pack,” as the chain drew $348 million in new distributed real-world assets over the past 30 days, outpacing competitors and highlighting its growing presence in the tokenized assets market.

According to this interpretation, SOL could experience a rebound above the September 3 high before another drop completes the corrective pattern. Major resistance remains at $110, with a deeper supply zone identified between $146 and $152.

The immediate risk is a decisive drop below $90, which would invalidate recent bullish setups. Maintaining support above $98 is seen as crucial for bulls hoping to preserve the upward momentum from earlier this year.

Prominent trader TraderSZ reported increasing long positions in SOL but emphasized the need for the price to stay above $90 to keep the bullish structure intact. He also marked the previous quarter’s high near $98.39 as the key level to defend in the short term.

More Crypto Online suggested that SOL’s move remains corrective, with the possibility of an extended bounce, but a break below key support could open the door to a deeper pullback.

To challenge the next resistance at $110 and move toward the higher supply area, SOL must first establish a base above $98 and avoid further downside breaches.

Solana, a major smart contract blockchain known for high throughput, is trading at approximately $106.50 after gaining 3.1% in the past 24 hours. This price recovery moves Solana close to the recent resistance area around $110, following a bounce from lows recorded in August near $75 to $80.

Transaction V1 prepares for mainnet launchSolana is set to introduce its Transaction V1 upgrade on September 9. This upgrade increases the maximum transaction size from 1,232 to 4,096 bytes, allowing developers to process more complex cryptographic operations such as zero-knowledge proofs and larger multisignature transactions within a single transaction.

Transaction V1 will allow 3.3 times more transaction space and can accommodate sophisticated functionalities like ZK proofs, BLS signatures, lengthy multisig processes, and confidential transfers, according to official Solana Foundation guidance.

The Solana Foundation, the organization supporting Solana’s ecosystem, explained that legacy and version 0 transaction formats will remain valid. Developers may select the V1 format only when their applications require larger transactions.

Address lookup tables are omitted from the new V1 format since up to 64 accounts can now be included directly within a transaction. The earlier formats retain their current approach for compatibility.

Testnet activation for Transaction V1 began on September 1 to help developers test and ensure system compatibility. Infrastructure providers are also updating their tools to handle the new transaction type efficiently.

Solana’s RPC clients, indexers, and pipeline applications must recognize and correctly process V1 transactions to prevent errors. Service providers like QuickNode have indicated that projects may require updated SDKs.

Mini dictionary: Zero-knowledge proofs (ZK proofs), a type of cryptographic protocol, enable verification of a statement’s validity without revealing the underlying data. This enhances privacy and scalability in blockchain applications.

Liquidity clusters and technical levelsCurrent technical data highlights two major liquidity concentrations above Solana’s market price. The nearest liquidity band is observed between $115 and $120, just above the recent $110 resistance. Should the price continue rising, reaching this cluster could trigger further volatility or possible reversals.

Liquidity ZonePrice RangeSignificanceNearest Cluster$115 – $120First major overhead liquidity, near recent resistanceLarger Pool$145 – $150Major upside cluster, prior resistance levelKey Support$90.46 – $94.83Main support zone for current structureA more significant liquidity cluster remains further overhead between $145 and $150. This region previously acted as a resistance, suggesting that any move into this area would likely encounter selling or increased volatility.

The liquidation heatmap shows where leveraged positions have built up, with major clusters currently located between $115 to $120 and in the $145 to $150 range. While such clusters do not guarantee price movement, they do outline potential zones for large market reactions.

Wave analysis and support levelsMarket analyst More Crypto Online described Solana as currently trading within a corrective wave 4 structure. Recent price movements exhibit overlapping three-wave patterns after rejecting from the $110 zone.

According to the analyst, the ongoing bounce could carry Solana above its September 3 high, acting as a B-wave, before another C-wave drop completes the correction. The crucial support area remains between $90.46 and $94.83. Sustaining this level is considered essential for a potential fifth wave upward once the correction finishes. A drop below $90.46 might lead to a deeper decline, invalidating the bullish configuration.

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According to GMGN market data, today’s meme coin market continues rotating between Robinhood Chain and Solana, with capital rapidly switching between high-market-cap leading tokens and new narrative assets. Trading activity on Robinhood Chain remains centered on MEME, BONER, and PONS, while Solana’s meme space is driven by zec and STONK. On Robinhood Chain, PONS became the first token on the chain to challenge a $1 billion market cap yesterday, peaking at $990 million before consolidating at a high level. The meme coin is currently trading at ~$0.801, with a market cap of ~$802 million, a 15.4% 24-hour drop, and $136 million in 24-hour trading volume. MEME surged yesterday, hitting a market cap of ~$174 million before pulling back. It is now priced at ~$0.096, with a market cap of ~$96.5 million, a 118% 24-hour gain, and $108 million in 24-hour volume. BONER has rallied again, with its market cap briefly exceeding $80 million; GMGN data shows its all-time high market cap is ~$89.3 million. The meme coin is trading at ~$0.067, with a market cap of ~$67 million, a 114% 24-hour gain, and $31.3 million in 24-hour volume. Over on the Solana network, zec also boasts high trading activity, with its market cap briefly hitting ~$114 million. The meme coin is priced at ~$1,184, with a market cap of ~$113 million, an 11.8% 24-hour gain, and $90.5 million in 24-hour volume. zec is primarily tied to Zcash/ZEC-related narratives, drawing capital amid broader privacy coin trends and Solana meme coin momentum. Additionally, Solana’s STONK has also seen strong performance, with its market cap briefly hitting ~$191 million. The meme coin is priced at ~$0.165, with a market cap of ~$145 million, a 141% 24-hour gain, and $104 million in 24-hour volume. STONK is linked to the stonkfun ecosystem and stands as one of the most concentrated new trading hotspots on Solana in recent times.

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Administrative Measures for the Online Marketing of Financial Products will take effect on September 30: KOLs must hold valid certificates to work.

According to Caixin News, the "Administrative Measures for Online Marketing of Financial Products" jointly issued by the People's Bank of China and seven other government ministries will officially take effect on September 30, 2026. The regulation aims to clarify the boundaries between finance and technology, and does not impose a full ban on online live-stream sales of financial products; instead, it lays out specific guidelines and norms for marketing activities. It specifies that financial products promoted via official accounts, live streams, or short videos must be conducted on either the financial institution’s self-operated platform or accounts legally registered by the institution on third-party internet platforms. Additionally, marketers must be employees of financial institutions, hold relevant business qualifications, and obtain authorization from the financial institution. This means KOLs (Key Opinion Leaders, i.e., influencers and internet celebrities) who wish to promote financial products will need to "hold valid certificates to work".

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BonkGuy praised MEME in a post, leading to its price surging over 50% in a short period.

Prominent trader BonkGuy lauded the MEME token in a social media post, revealing he had missed the opportunity to buy it when its market capitalization was below $10 million, before it surged to $150 million in just a few hours. He opined that MEME could emerge as one of the most representative meme coins of this cycle, noting the emerging "crypto-stock meme" narrative remains in its early stages, with MEME at the heart of this new narrative. Following his remarks, GMGN market data shows MEME rallied over 50% in a short period, with its current market cap standing at approximately $133 million.

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DeFi researcher Ignas posted on X that today’s crypto market shows signs of capital rotation from Robinhood Chain to Solana. Over the past 24 hours, Solana ecosystem tokens have posted strong gains: RAY rose roughly 60%, JUP gained 21%, ORCA climbed 12%, and MET increased 13%. By contrast, AI fell 11.5% while CASHCAT dropped 5.8%. Robinhood Chain’s meme coin sector as a whole declined around 16.5%. Meanwhile, cross-chain fund flow data shows Solana’s bridge recorded a net inflow of approximately $18.8 million over the past day, while Robinhood Chain saw a net outflow of $47.8 million. Though these bridge volumes remain small relative to the total value locked (TVL) of both chains, the capital shift may signal some traders taking profits on Robinhood Chain’s meme coins and shifting to Solana’s trading infrastructure tokens to continue participating in the related market rally. Notably, STONK — the launchpad token that pairs meme coins with tokenized stocks, fiat currencies and other assets — surged roughly 360% at one point today, emerging as a key market focus.

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Changxin Technology: Will Initiate Dividend Plan Review at an Appropriate Time

Changxin Technology convened its 2026 first-half performance briefing. Independent director Chen Wuchao said in response to investor inquiries that global DRAM product sentiment has improved and prices have risen in H1 2026. Currently, the company remains in a critical investment phase focused on capacity expansion and technological upgrading, and will gradually deliver returns to shareholders while safeguarding necessary capital expenditures. As profitability continues to grow, the company will initiate the demonstration of its dividend plan in a timely manner in compliance with relevant laws and regulations.

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People's Bank of China increases its gold holdings for the 22nd consecutive month.

China's gold reserves stood at 76.73 million ounces (about 2,386.57 tons) at the end of August, up 650,000 ounces (around 20.22 tons) month-on-month. The People's Bank of China has been increasing its gold holdings for 22 consecutive months. (Jin10)

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Unrealized profit from a smart money address’s ZEC holdings has exceeded $10 million, pushing its cumulative returns to $11.37 million.

According to monitoring by ai_9684xtpa, the smart money address yixie10, which deployed roughly $20 million into long ZEC positions, has expanded its cumulative ZEC trading profits to approximately $11.37 million. On September 4, when ZEC traded at around $985, this address held an unrealized profit of about $8.465 million. ZEC’s price has since risen by roughly 22%; if its position size remains unchanged, the unrealized profit is expected to further expand to around $10.34 million. Adding the previously realized profit of approximately $1.038 million, the address’s total gains from this single ZEC trade are likely to once again exceed $10 million.

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Hong Kong stocks closed, with the Hang Seng Index down 0.93% and Zhipu dropping 5.3%.

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1 seconds ago

Administrative Measures for the Online Marketing of Financial Products will take effect on September 30: KOLs must hold valid certificates to work.

According to Caixin News, the "Administrative Measures for Online Marketing of Financial Products" jointly issued by the People's Bank of China and seven other government ministries will officially take effect on September 30, 2026. The regulation aims to clarify the boundaries between finance and technology, and does not impose a full ban on online live-stream sales of financial products; instead, it lays out specific guidelines and norms for marketing activities. It specifies that financial products promoted via official accounts, live streams, or short videos must be conducted on either the financial institution’s self-operated platform or accounts legally registered by the institution on third-party internet platforms. Additionally, marketers must be employees of financial institutions, hold relevant business qualifications, and obtain authorization from the financial institution. This means KOLs (Key Opinion Leaders, i.e., influencers and internet celebrities) who wish to promote financial products will need to "hold valid certificates to work".

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BonkGuy praised MEME in a post, leading to its price surging over 50% in a short period.

Prominent trader BonkGuy lauded the MEME token in a social media post, revealing he had missed the opportunity to buy it when its market capitalization was below $10 million, before it surged to $150 million in just a few hours. He opined that MEME could emerge as one of the most representative meme coins of this cycle, noting the emerging "crypto-stock meme" narrative remains in its early stages, with MEME at the heart of this new narrative. Following his remarks, GMGN market data shows MEME rallied over 50% in a short period, with its current market cap standing at approximately $133 million.

1 seconds ago

Changxin Technology: Will Initiate Dividend Plan Review at an Appropriate Time

Changxin Technology convened its 2026 first-half performance briefing. Independent director Chen Wuchao said in response to investor inquiries that global DRAM product sentiment has improved and prices have risen in H1 2026. Currently, the company remains in a critical investment phase focused on capacity expansion and technological upgrading, and will gradually deliver returns to shareholders while safeguarding necessary capital expenditures. As profitability continues to grow, the company will initiate the demonstration of its dividend plan in a timely manner in compliance with relevant laws and regulations.

1 seconds ago

People's Bank of China increases its gold holdings for the 22nd consecutive month.

China's gold reserves stood at 76.73 million ounces (about 2,386.57 tons) at the end of August, up 650,000 ounces (around 20.22 tons) month-on-month. The People's Bank of China has been increasing its gold holdings for 22 consecutive months. (Jin10)

1 seconds ago

Unrealized profit from a smart money address’s ZEC holdings has exceeded $10 million, pushing its cumulative returns to $11.37 million.

According to monitoring by ai_9684xtpa, the smart money address yixie10, which deployed roughly $20 million into long ZEC positions, has expanded its cumulative ZEC trading profits to approximately $11.37 million. On September 4, when ZEC traded at around $985, this address held an unrealized profit of about $8.465 million. ZEC’s price has since risen by roughly 22%; if its position size remains unchanged, the unrealized profit is expected to further expand to around $10.34 million. Adding the previously realized profit of approximately $1.038 million, the address’s total gains from this single ZEC trade are likely to once again exceed $10 million.

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Hong Kong stocks closed, with the Hang Seng Index down 0.93% and Zhipu dropping 5.3%.

Hong Kong stocks closed lower, with the Hang Seng Index down 0.93% and the Technology Index falling 0.92%; Zhipu (02513.HK) dropped 5.3%.

1 seconds ago

Administrative Measures for the Online Marketing of Financial Products will take effect on September 30: KOLs must hold valid certificates to work.

According to Caixin News, the "Administrative Measures for Online Marketing of Financial Products" jointly issued by the People's Bank of China and seven other government ministries will officially take effect on September 30, 2026. The regulation aims to clarify the boundaries between finance and technology, and does not impose a full ban on online live-stream sales of financial products; instead, it lays out specific guidelines and norms for marketing activities. It specifies that financial products promoted via official accounts, live streams, or short videos must be conducted on either the financial institution’s self-operated platform or accounts legally registered by the institution on third-party internet platforms. Additionally, marketers must be employees of financial institutions, hold relevant business qualifications, and obtain authorization from the financial institution. This means KOLs (Key Opinion Leaders, i.e., influencers and internet celebrities) who wish to promote financial products will need to "hold valid certificates to work".

1 seconds ago

BonkGuy praised MEME in a post, leading to its price surging over 50% in a short period.

Prominent trader BonkGuy lauded the MEME token in a social media post, revealing he had missed the opportunity to buy it when its market capitalization was below $10 million, before it surged to $150 million in just a few hours. He opined that MEME could emerge as one of the most representative meme coins of this cycle, noting the emerging "crypto-stock meme" narrative remains in its early stages, with MEME at the heart of this new narrative. Following his remarks, GMGN market data shows MEME rallied over 50% in a short period, with its current market cap standing at approximately $133 million.

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Key Highlights SOL maintains its position around $103 following a successful recovery above the $98 support threshold Bulls are preparing to challenge the $110 resistance zone as the next critical price target Strong support foundation exists between $90.46 and $94.83 for potential downside protection Solana dominated blockchain networks by capturing $348 million in net RWA inflows during the past month The network’s distributed RWA value climbed to $4.23 billion, serving 398,644 holder addresses Solana currently hovers around the $103 price point after successfully reclaiming ground above the $98 threshold that previously served as a barrier. This bounce has preserved the near-term bullish framework, though market analysts emphasize that current movement remains part of a corrective consolidation rather than a fresh trending impulse.

Solana (SOL) Price Technical analyst More Crypto Online interprets the present price behavior through the lens of Elliott Wave theory as a Wave 4 correction. The formation displays multiple overlapping three-wave sequences, which characteristically indicate consolidation periods instead of decisive directional momentum. SOL maintains the potential to climb beyond its September 3 peak as part of a B-wave rally before eventually completing the corrective pattern with a C-wave downturn.

Multiple Fibonacci retracement support zones are tightly packed below the current trading range at $102.50, $101.51, $100.53, and $99.14. These price points provide traders with well-defined monitoring levels for potential bounces.

Breaking Through $110 Becomes Critical Objective The immediate challenge confronting Solana bulls is the resistance cluster surrounding $110. This zone recently turned back SOL’s advance and represents the barrier that must be definitively breached to establish a more convincing bullish case.

Market analyst TraderSZ has expanded his long exposure to SOL and pinpointed $90 as the invalidation threshold for his position. His outlook anticipates another upward trend leg provided price action sustains levels above $98.39, which corresponds to the previous quarterly peak.

Should buyers successfully drive SOL past $110 with strong momentum, the subsequent resistance band emerges considerably higher within the $146–$152 range.

Trader Don 🐂 (@DonWedge) shared his perspective on X platform, stating that $SOL is targeting $170, expressing optimism rooted in Solana’s expanding presence within real-world asset infrastructure.

Solana Dominates Real-World Asset Network Rankings Solana captured $348 million in net real-world asset capital flows during the most recent 30-day measurement window, surpassing every other monitored blockchain platform. This substantial influx pushed the network’s total distributed RWA value to $4.23 billion.

By comparison, Ethereum registered a modest 0.77% gain during the identical timeframe, while Stellar posted a 5.22% increase. Meanwhile, XRP Ledger experienced a 5.51% decline and Avalanche saw a 14.06% decrease.

The tokenized product ecosystem on Solana encompasses BlackRock’s BUIDL fund, Franklin Templeton’s BENJI token, VanEck’s VBILL, along with products from Ondo Finance and WisdomTree. These offerings primarily consist of Treasury securities and money market instruments accessible to qualified institutional participants.

The reported $4.23 billion figure reflects distributed RWA value across the network rather than direct protocol revenue or assets under Solana Foundation management.

SOL continues trading in the vicinity of $103 with the $98 level serving as the critical support threshold that must be defended.

Fomo generated $1.76 million on Friday, beating Pump.fun’s $1.1 million, though the memecoin launchpad remains ahead over 30 days.

Social trading platform Fomo generated more daily revenue than memecoin launchpad Pump.fun on Friday.

Fomo generated $1.76 million in daily revenue on Friday, compared with Pump.fun’s $1.1 million, according to DefiLlama data.

Pump.fun remains ahead over longer periods. It generated more than $57 million over the past 30 days, compared with $17.6 million for Fomo.

Fomo combines cryptocurrency trading with social features resembling a social media feed. The platform allows users to view other users’ trades.

In June, Fomo closed a $75 million Series B round led by Index Ventures, valuing the social trading app at $550 million. 

The company said more than 68,000 users made their first cryptocurrency purchase on the platform using Apple Pay, accounting for about $25 million in transaction volume.

Fomo also expanded its offering beyond spot trading this year. On June 11, it launched perpetual futures contracts powered by Hyperliquid for users outside the US.

The company said on June 2 that it had paid users more than $2 million in referral fees.

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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Raydium has expanded LaunchLab to support trading between any token pair, with LaunchOnSF’s StonkFun becoming the first integration to use the new system on Solana.

Summary

Raydium LaunchLab now allows newly launched tokens to be paired with any supported quote token on the platform. StonkFun has become the first integration to use the new model after changes to Raydium programs, aggregators and trading terminals. StonkFun said deployment costs have fallen to 0.03 SOL from 0.29 SOL, while liquidity fees can be directed back into liquidity. The upgrade expands LaunchLab more than a year after Raydium introduced the platform following Pump.fun’s move to its own PumpSwap exchange. According to Raydium’s Sept. 7 announcement on X, LaunchLab can now pair a newly launched token with any quote token supported through Raydium, removing the fixed pairing structure used by many token launch platforms. Raydium said the upgrade brings more flexible token pairing, deeper liquidity and lower fees for memecoin trading.

LaunchLab now supports any token pair on Raydium.

The upgrade brings flexible pairing directly to Solana, with deeper liquidity, lower fees, and stronger meme-native trading.@LaunchOnSF is the first integration partner to bring the model live on LaunchLab. pic.twitter.com/c3NFuYCRWI

— Raydium (@Raydium) September 6, 2026 LaunchOnSF confirmed that its StonkFun platform is the first integration partner to bring the feature live. Its team spent the previous week preparing the integration, which required changes across Raydium’s programs, trading terminals and aggregators before custom quote tokens could be supported.

Raydium LaunchLab now supports custom token pairs Under the new system, creators can select the quote token used for a LaunchLab deployment, allowing communities to build markets around assets other than the standard quote tokens commonly used for new Solana launches.

Raydium described the feature as the ability to launch “any token, paired with any quote token.” LaunchOnSF said Raydium updated its programs to accommodate custom quote and reward tokens, while aggregators and trading terminals needed to support routing for the resulting pairs.

The integration covers permissionless deployments, bonding curves and constant product market maker pools. LaunchOnSF said deployment costs through StonkFun have been reduced to 0.03 SOL from 0.29 SOL, while liquidity provider fees can be directed back into liquidity.

Developers do not have to use the StonkFun API to deploy tokens and can construct transactions themselves. LaunchOnSF said the system was built to reduce problems it had encountered with snipers and launches concentrated in a single wallet.

Ahead of the integration, StonkFun reported more than $392 million in total trading volume, including roughly $219 million routed through Raydium. The platform had generated $1.21 million in revenue and distributed more than $5.35 million in rewards to ecosystem holders.

More than $705,000 had been spent on buybacks and burns of its ecosystem token, while another $68,000 went toward buying and burning tokens from its 10 largest ecosystem projects, according to figures published by LaunchOnSF.

LaunchLab followed Pump.fun’s move away from Raydium Raydium first disclosed LaunchLab in March 2025 after Pump.fun began working on its own automated market maker. The platform offered creators different pricing curves and allowed third party interfaces to build on the underlying infrastructure and set their own transaction fees.

Crypto.news previously reported on Raydium’s LaunchLab plans in March 2025. An anonymous Raydium developer said at the time that the product had been under development for several months but had initially been kept on the sidelines while Pump.fun continued using Raydium for liquidity.

LaunchLab officially went live in April 2025, allowing users to create, customize and trade tokens through Raydium. Projects crossing the original 85 SOL threshold were automatically moved into Raydium’s automated market maker.

Raydium introduced customizable bonding curves, no migration cost and a 1% trading fee under the initial model. The protocol said 25% of trading fees collected through LaunchLab would be used to buy back RAY.

More than 10 projects had passed the 85 SOL threshold shortly after LaunchLab opened, while RAY rose roughly 13% following the launch before giving back part of the move.

LaunchLab arrived after Pump.fun changed a relationship that had directed a steady flow of newly created memecoins toward Raydium.

Tokens launched through Pump.fun had historically moved into Raydium liquidity pools after completing their bonding curves. Pump.fun began testing its own automated market maker in February 2025, opening a path for graduated tokens to remain inside its own trading infrastructure.

PumpSwap ended Pump.fun’s reliance on Raydium Pump.fun formally moved away from the previous setup when it launched the PumpSwap DEX in March 2025.

Built around a constant product automated market maker similar to Raydium v4 and Uniswap v2, PumpSwap allowed tokens completing Pump.fun bonding curves to migrate directly to its own liquidity pools. Users could create pools, provide liquidity and trade tokens without sending graduated launches to Raydium.

PumpSwap introduced instant migrations and removed the six SOL migration fee previously associated with the process. The platform initially charged 0.25% on trades, allocating 0.20% to liquidity providers and 0.05% to the protocol.

Trading activity climbed quickly. PumpSwap captured 21% of Solana DEX trading about a week after launch, with cumulative volume exceeding $1.2 billion. Raydium remained ahead with a 57.4% share at the time.

By March 30, PumpSwap had recorded $2.43 billion in volume, alongside $5.4 million in protocol fees, around 700,000 active wallets and 30.59 million swaps. Raydium accounted for 74% of Solana DEX volume on that date, compared with PumpSwap’s 8%.

Raydium had entered the contest from a strong position in memecoin trading. A CEX.io report showed its memecoin volume share rising from 77% to 83% during the first quarter of 2025.

Pump.fun was responsible for more than half of daily SPL token creation at the time, with tokens previously flowing into Raydium after meeting Pump.fun’s graduation requirements. That pipeline changed once PumpSwap began taking the migrations directly.

Raydium remains a major Solana trading venue Despite heavier competition among Solana exchanges and launchpads, Raydium has remained one of the network’s largest execution venues.

Across 2025, the protocol processed $352.8 billion in execution layer DEX volume. Meteora followed with $113.7 billion, while Orca and SolFi recorded $103.9 billion and $97.9 billion, respectively.

More recent activity has remained spread across several Solana venues. On Aug. 21, 2026, Solana generated approximately $2.8 billion in daily decentralized exchange spot volume. PumpSwap processed roughly $485 million, followed by BisonFi at $466 million, Orca at $307 million, Raydium at $260 million and Manifest at $218 million.

The five platforms together accounted for approximately $1.74 billion of the network’s daily total.

LaunchLab’s latest update changes the type of markets that can be created through Raydium’s launch infrastructure. Instead of requiring creators to launch against a predetermined quote asset, StonkFun deployments can select another supported token and carry that pairing through the bonding curve and subsequent liquidity setup.

Raydium ecosystem contributor Infra said the structure lets a community pair a meme token with another asset its users already follow and use the same asset for rewards. LaunchOnSF became the first partner to put that model into production through StonkFun following the Sept. 7 rollout.

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.

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.

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.

6 hours ago

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.”

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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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WOO X exposed for abnormal withdrawals, multiple users report their withdrawals stuck in 'pending' or 'processing' status.

On-chain detective ZachXBT has issued a community alert, reporting that over the past three days, multiple verified WOO X users have complained their withdrawals remain stuck in "pending" or "processing" status. As of the time of his post, WOO X has not released a statement on the matter. WOO X was incubated by Kronos Research and acquired by FusionX Digital in the fourth quarter of 2025. ZachXBT pointed out that FusionX Digital is reportedly linked to BitMart founder Sheldon Xia. ZachXBT also noted that BitMart announced on July 26, 2026, it would cease operations and restructure, leaving users unable to access millions of dollars in trapped funds, with complaints rising steadily on the X platform. Sheldon Xia only issued a vague statement asserting user assets are secure, but these claims have not been independently verified.

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A Bitcoin address from the Satoshi Nakamoto era, dormant for 16 years, has transferred 600 BTC, worth approximately $48 million.

12 Bitcoin addresses dormant for over 16 years moved a total of 600 BTC on September 5, worth approximately $48 million. The BTC all originated from mining rewards in March 2010, when Satoshi Nakamoto was still active on the Bitcoin network. Whale Alert stated that the 600 BTC came from mining rewards of 12 Bitcoin blocks, and no connection between these addresses and Satoshi Nakamoto has been found. Earlier, Lookonchain had identified 7 of these miner wallets, which moved 350 BTC after remaining dormant for roughly 16.5 years. Whale Alert also noted that one of the block rewards was transferred several blocks ahead of most other transactions, a pattern consistent with conducting a test transaction before executing the remaining transfers.

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Vitalik: SNARKs are expected to bring their computational overhead down to single-digit multiples by the end of this decade.

Ethereum co-founder Vitalik Buterin published a post outlining his optimistic, non-mainstream take on the long-term evolution of cryptography: For general real-world computing, there is a 33% chance that the total cost of three protocols—SNARK, FHE, and iO—can be capped at 1+ε times the baseline computing cost. This means that as computing scale grows sufficiently large, the extra cryptographic overhead relative to baseline costs can approach zero indefinitely. When measured by combined energy consumption and amortized computing costs, these three protocols have a 60% chance of keeping their cost multiple below 10x. One of these targets is likely to be achieved before the end of this decade, with SNARK being the most probable to hit single-digit computing overhead, he added. He noted that this level has already been reached in scenarios involving dedicated hash functions and some large language model (LLM) inference.

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Solana ecosystem token STONK briefly saw its market capitalization exceed $150 million, surging 449% in 24 hours.

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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Bitget has launched USDT-margined "Hakimi" perpetual contracts.

According to an official announcement, Bitget has launched USDT-margined "Hakimi" perpetual contracts, with a maximum leverage of 3x. Corresponding contract trading bots will also be rolled out simultaneously. For more details, please refer to Bitget's official platform.

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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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According to GMGN market data, the Solana-based ZEC-linked airdrop meme token ZCAT (Anonymous Cat) has surged past $105 million in market capitalization, hitting a new all-time high. The token has rallied over 404% in the past 24 hours, with a 24-hour trading volume of $5.2 million. ZCAT is a cat-themed meme token built on Solana, drawing inspiration from Zcash’s (ZEC) privacy concept, and features an anonymous cat mascot wearing a brown paper bag over its head. It levies a roughly 3% transaction and transfer tax, which is used to purchase bridged Zcash (ZEC) on Solana, with the acquired tokens airdropped to holders. BlockBeats reminds users that most meme coins lack practical use cases, exhibit extreme price volatility, and caution is advised for investments in such assets.

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A Bitcoin address from the Satoshi Nakamoto era, dormant for 16 years, has transferred 600 BTC, worth approximately $48 million.

12 Bitcoin addresses dormant for over 16 years moved a total of 600 BTC on September 5, worth approximately $48 million. The BTC all originated from mining rewards in March 2010, when Satoshi Nakamoto was still active on the Bitcoin network. Whale Alert stated that the 600 BTC came from mining rewards of 12 Bitcoin blocks, and no connection between these addresses and Satoshi Nakamoto has been found. Earlier, Lookonchain had identified 7 of these miner wallets, which moved 350 BTC after remaining dormant for roughly 16.5 years. Whale Alert also noted that one of the block rewards was transferred several blocks ahead of most other transactions, a pattern consistent with conducting a test transaction before executing the remaining transfers.

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Vitalik: SNARKs are expected to bring their computational overhead down to single-digit multiples by the end of this decade.

Ethereum co-founder Vitalik Buterin published a post outlining his optimistic, non-mainstream take on the long-term evolution of cryptography: For general real-world computing, there is a 33% chance that the total cost of three protocols—SNARK, FHE, and iO—can be capped at 1+ε times the baseline computing cost. This means that as computing scale grows sufficiently large, the extra cryptographic overhead relative to baseline costs can approach zero indefinitely. When measured by combined energy consumption and amortized computing costs, these three protocols have a 60% chance of keeping their cost multiple below 10x. One of these targets is likely to be achieved before the end of this decade, with SNARK being the most probable to hit single-digit computing overhead, he added. He noted that this level has already been reached in scenarios involving dedicated hash functions and some large language model (LLM) inference.

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Solana ecosystem token STONK briefly saw its market capitalization exceed $150 million, surging 449% in 24 hours.

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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Bitget has launched USDT-margined "Hakimi" perpetual contracts.

According to an official announcement, Bitget has launched USDT-margined "Hakimi" perpetual contracts, with a maximum leverage of 3x. Corresponding contract trading bots will also be rolled out simultaneously. For more details, please refer to Bitget's official platform.

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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.

6 minutes ago

11h05 ▪ 5 min read ▪ by Evans S.

Summarize this article with:

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.

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.

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.

Relevant content

A Bitcoin address from the Satoshi Nakamoto era, dormant for 16 years, has transferred 600 BTC, worth approximately $48 million.

12 Bitcoin addresses dormant for over 16 years moved a total of 600 BTC on September 5, worth approximately $48 million. The BTC all originated from mining rewards in March 2010, when Satoshi Nakamoto was still active on the Bitcoin network. Whale Alert stated that the 600 BTC came from mining rewards of 12 Bitcoin blocks, and no connection between these addresses and Satoshi Nakamoto has been found. Earlier, Lookonchain had identified 7 of these miner wallets, which moved 350 BTC after remaining dormant for roughly 16.5 years. Whale Alert also noted that one of the block rewards was transferred several blocks ahead of most other transactions, a pattern consistent with conducting a test transaction before executing the remaining transfers.

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Vitalik: SNARKs are expected to bring their computational overhead down to single-digit multiples by the end of this decade.

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Bitget has launched USDT-margined "Hakimi" perpetual contracts.

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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.

6 minutes ago

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.

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New meme coin BEN on BSC surges past $9 million market cap in just two hours after launch.

According to GMGN market data, the new meme coin BEN on the BSC chain hit a market cap of $9 million within two hours of its launch, and is now trading at $8.2 million with a trading volume of $20.8 million. The meme coin is paired with the tokenized US stock QQQ (Invesco QQQ Trust, which tracks the Nasdaq 100 Index) on BSC. BlockBeats reminds users that prices of related tokens are highly volatile, so they should exercise caution when investing.

6 minutes ago

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.