Anthropic, a prominent AI company, has seen its tokenized pre-IPO asset become available on CoinGecko, despite lacking a public stock ticker. The asset, issued as a tokenized proxy by PreStocks, is now available for exchange on the Solana blockchain. This token offers a speculative glimpse into Anthropic’s valuation ahead of its confidential IPO filing with Nasdaq. Priced around $984.87, the token reflects a market capitalization of approximately $7.56 million, with a 24-hour exchange volume reaching $274,000 on October 19, 2026.
Key Takeaways Market activity suggests increased interest in Anthropic’s pre-IPO valuation, consistent with increased market cap predictions. Current market pricing implies a moderate likelihood of Anthropic’s market cap exceeding certain thresholds at IPO close. Exchange activity around the tokenized asset could indicate market confidence in Anthropic’s future public valuation. What to Watch Observers should monitor any updates regarding Anthropic’s official IPO filing with the SEC and potential Nasdaq listing details. The token’s pricing trends may provide further insights into market sentiment and anticipated valuation at the time of public offering. Market participants will likely pay attention to any new disclosures from Anthropic that could affect its perceived valuation and influence market outcomes.
Anthropic Ipo Closing Market Cap Higher Strikes
Contract Odds Δ since publish Volume 24h December 31 2026 5.6% — — View market → December 31 2026 8.2% — — View market → December 31 2026 18.8% — — View market → December 31 2026 25.5% — — View market → December 31 2026 19.1% — — View market → December 31 2026 9.5% — — View market → December 31 2026 3.6% — — View market → December 31 2026 3.9% — — View market → December 31 2026 5.9% — — View market → December 31 2026 1.9% — — View market → Anthropic Ipo
Contract Odds Δ since publish Volume 24h December 31, 2026 75.5% — — View market → July 1 2027 0.2% — — View market → July 1 2027 62% — — View market → July 1 2027 74.5% — — View market → July 1 2027 13.4% — — View market →
The Fan Token® ecosystem offers supporters a way to engage with their favorite sports teams, be it voting on the music that blasts when they walk onto the pitch or participating in a virtual meet-and-greet.
But it’s not all about getting closer to the starting XI. For a Fan Token digital asset to be purchasable, it needs to have a price – something which holds true of all goods, be they physical or digital. And determining that price falls to thousands of Fan Token holders, whose trading activity helps to determine the fair market value for the digital asset at any given point in time.
Which brings us to Solana, a blockchain that’s particularly suited to SportFi including the use of Fan Tokens in a multitude of ways, from holding in wallets to transferring between users and trading on decentralized exchanges.
In this guide, we’ll explain what core Solana technologies including DEXs, liquidity pools, and DLMMs do, how they fit together, and what you need to know before using them, whether you’re a SportFi fan or a general token trader.
Getting to know Solana
First, a tl;dr on the blockchain that makes all of this possible. Solana is a Layer 1 network that supports smart contracts – programs that execute automatically when certain conditions are met. These allow developers to build everything from blockchain games to decentralized exchanges.
What distinguishes Solana from other Layer 1s is its emphasis on speed and affordability. Transactions typically settle in seconds, while network fees are generally a fraction of a cent. That’s useful when you’re trading digital assets, since nobody wants to pay several dollars in fees every time they swap one token for another.
Solana’s native cryptocurrency is SOL, which is used to pay network transaction fees. Even if you’re only interested in trading Fan Token digital assets, you’ll generally need a small amount of SOL in your wallet to cover these costs.
It starts with a Solana wallet
Before you can start exploring Solana, you’ll need a wallet that supports the network. Popular options include Phantom, Solflare, and Jupiter, all of which are available as browser extensions and mobile apps. Unlike a traditional bank account, a self-custodial wallet such as the aforementioned options puts you in control of your assets. There’s no bank or exchange holding your tokens on your behalf.
Technically, your tokens aren’t stored inside the wallet. They exist on the blockchain, while your wallet manages the cryptographic keys that allow you to access and transfer them. To be more precise, the wallet is a digital keyring that provides access to your blockchain assets. But from a user perspective, the tokens live to all intents and purposes inside your wallet and only leave it with your say-so.
When you create a non-custodial wallet, you’re given a private key, often represented as a recovery phrase consisting of a series of words. Keep it somewhere secure, never share it, and don’t enter it into websites or applications claiming to offer technical support. Once your wallet’s set up, you can use it to receive compatible tokens, check your balances, and connect to decentralized applications.
Decentralized applications such as exchanges where you can trade tokens. Which brings us to DEXs…
Next you need a DEX
Instead of depositing your digital assets with an exchange operator, as is the case with a centralized platform, a decentralized exchange – or DEX – requires you to connect your own wallet and trade directly through smart contracts.
This means you retain control of your assets until you authorize a transaction. There’s no need to transfer your assets, be it stablecoins, protocol tokens, or FAN TOKEN® into an exchange account before trading them.
Solana has a well-established DEX ecosystem, with protocols such as Raydium and Orca enabling users to swap tokens through liquidity pools. There’s also Jupiter, a DEX aggregator that searches different liquidity sources to find suitable trading routes. Rather than operating like a conventional exchange, it helps users access liquidity distributed across Solana’s decentralized trading ecosystem.
Where does Meteora fit in?
If we’re going to talk about liquidity, we need to speak about Meteora, the leading decentralized liquidity protocol built on Solana. Meteora provides infrastructure that allows tokens to be traded through liquidity pools. These pools contain assets made available for trading by liquidity providers, allowing buyers and sellers to exchange tokens without needing to find someone willing to take the opposite side of their trade.
Imagine a currency exchange booth that already holds supplies of pounds and euros. You can walk up and exchange one for the other without waiting for another customer who happens to want the reverse transaction. Liquidity pools perform much the same function, except they’re governed by smart contracts rather than operated by a cashier.
Meteora supports several types of liquidity pools, with the best known being its Dynamic Liquidity Market Maker (DLMM). This is where things get particularly interesting, since DLMMs offer a flexible mechanism for trading newly launched assets and allowing their market prices to develop through supply and demand.
DLMMs: A smarter way to manage liquidity
DLMM stands for Dynamic Liquidity Market Maker and is a type of automated market maker, or AMM, that organizes liquidity into individual price ranges called bins.
Liquidity providers can choose where to position their assets and when someone buys tokens, their trade draws upon the liquidity available at the current price. If buying demand exhausts the available tokens in one bin, trading can progress to the next, higher-priced bin. Selling pressure can move trading in the opposite direction.
Price discovery works the same way on centralized exchanges: prices are determined by market supply and demand (buyers and sellers), not by the exchange operator. The exchange simply provides the matching engine to execute trades.
Meteora’s DLMM also supports dynamic trading fees, which can adjust according to market volatility. For users, the main thing to understand is that a DLMM provides the underlying machinery for token swaps.
But understanding the basics will help you make sense of the prices you’re quoted and why they can change.
Four pieces of the same puzzle
There’s a lot of terminology to absorb when you first encounter decentralized trading on Solana, but the relationship between the different components is relatively straightforward.
Solana provides the blockchain on which transactions take place. Your wallet gives you control over your assets and allows you to authorize transactions. DEXs provide the interfaces and smart contracts through which tokens can be exchanged. And liquidity protocols such as Meteora, using mechanisms including DLMMs, make assets available for trading at different prices.
Each serves a distinct purpose, but together they create an ecosystem in which digital assets can be exchanged without relying on a traditional centralized intermediary. Which makes them four pieces of the same puzzle and the key to trading on Solana while keeping control of your assets at all times.
Circle has reportedly minted about 3.75 billion USDC on the Solana blockchain over the past seven days, according to data shared by @SolanaFloor on social media. This significant issuance represents gross minting and highlights the ongoing expansion of USDC liquidity on the Solana network. As of early October, Solana’s native USDC holdings were approximately $7.3 billion, constituting about 10% of the total USDC supply. This development suggests that Solana continues to be a key platform for stablecoin activity, supporting various applications in payments and decentralized finance (DeFi).
Key Takeaways The minting of 3.75 billion USDC on Solana suggests increased liquidity provision on the platform. This development appears consistent with scenarios that could support a rise in Solana’s price, as enhanced liquidity may drive demand. Market pricing implies moderate confidence in Solana reaching higher price targets, with some sub-markets reflecting this sentiment. What to Watch Markets will be monitoring any further increases in USDC minting on Solana and its potential impact on Solana’s price. Key indicators include regulatory developments, such as SEC decisions on spot-SOL ETFs, and technological milestones like the successful activation of Solana’s Alpenglow upgrade. These factors could influence market sentiment towards Solana’s price reaching or exceeding significant thresholds, such as $190, in October 2026.
Term Structure
Contract Odds Δ since publish Volume 24h November 1 2026 0.6% — — View market → November 1 2026 3.9% — — View market → November 1 2026 15.5% — — View market → November 1 2026 4% — — View market → November 1 2026 0.4% — — View market → November 1 2026 0.9% — — View market → November 1 2026 1.4% — — View market → November 1 2026 1.8% — — View market → November 1 2026 1.5% — — View market → November 1 2026 0.1% — — View market → November 1 2026 0.1% — — View market → November 1 2026 8.5% — — View market → November 1 2026 0.4% — — View market → November 1 2026 2% — — View market → November 1 2026 55% — — View market →
StakerX’s AI Agent Surpasses Passes $40M Staked Assets on Solana Within Three Months of Launch
StakerGPT trades crypto markets around the clock and publishes every trade it makes, as more than 8,200 users join the platform
StakerX.ai, an agentic trading platform built by Switzerland-based StakerX Strategies AG, has passed $40 million in assets staked on Solana less than three months after its public launch on July 13, 2026. Users fund their stakes with more than 40 cryptocurrencies from most major blockchains, and StakerGPT, the platform’s agentic trading agent, puts that capital to work in crypto perpetual futures markets every day.
An AI agent that shows its work
An agentic system is AI software that carries out a multi-step task on its own. StakerGPT is built on rare-access Claude Mythos: it monitors crypto markets around the clock, reasons over potential trade setups, filters them through risk controls and routes the approved trades for execution, without a human placing each order.
Every trade is public. StakerX publishes the full record daily at stakerx.ai/trades, with the market, direction, entry and exit prices and return of each position, including both live-executed and signal-derived trades. As of October 18, 2026, the record holds 804 trades across 139 trading days since June 1, 2026, so anyone can check what the agent did on any given day instead of relying on summary figures.
Fund it with almost any coin
Users can deposit USDC, USDT, BTC, ETH, SOL, BNB, TRX and more than 30 other cryptocurrencies from Solana, Ethereum, Bitcoin, BNB Chain, Base, Arbitrum, Polygon, Tron and other networks. Each deposit is converted and credited as USDC, a dollar-backed stablecoin, on Solana, so users do not need to bridge or swap anything themselves. Stakes start at $10 and run for 30 days.
Three months of growth
As of October 18, 2026, StakerX.ai reports:
$40 million currently staked on the platform
More than 8,200 registered users, of whom more than 3,000 have funded an account
804 trades published across 139 trading days
More than 27,700 completed withdrawals, totalling $10+ million
Nearly $12 million in yield credited to users since launch
Coming to the App Store and Google Play
StakerX is preparing native mobile apps for iOS and Android, expected in December 2026, which will bring the dashboard, deposits and the live StakerGPT trade record to the Apple App Store and Google Play. The platform is available today on the web at stakerx.ai.
About StakerX
StakerX is an agentic trading platform built and operated by StakerX Strategies AG, a quantitative trading and investment firm based in Switzerland. Its AI trading agent, StakerGPT, is built on rare-access Claude Mythos and evaluates crypto markets, applies risk filters and routes trades, and the platform publishes every trade in its record daily. Its goal is to make agentic trading accessible to anyone who holds crypto, from any chain, with every trade on the record. StakerX launched publicly on July 13, 2026. More information is available at stakerx.ai.
Media contact
Rimma S. – StakerX Strategies AG | Media Relations
StakerX’s AI Agent Surpasses Passes $40M Staked Assets on Solana Within Three Months of Launch
StakerGPT trades crypto markets around the clock and publishes every trade it makes, as more than 8,200 users join the platform
StakerX.ai, an agentic trading platform built by Switzerland-based StakerX Strategies AG, has passed $40 million in assets staked on Solana less than three months after its public launch on July 13, 2026. Users fund their stakes with more than 40 cryptocurrencies from most major blockchains, and StakerGPT, the platform’s agentic trading agent, puts that capital to work in crypto perpetual futures markets every day.
An AI agent that shows its work
An agentic system is AI software that carries out a multi-step task on its own. StakerGPT is built on rare-access Claude Mythos: it monitors crypto markets around the clock, reasons over potential trade setups, filters them through risk controls and routes the approved trades for execution, without a human placing each order.
Every trade is public. StakerX publishes the full record daily at stakerx.ai/trades, with the market, direction, entry and exit prices and return of each position, including both live-executed and signal-derived trades. As of October 18, 2026, the record holds 804 trades across 139 trading days since June 1, 2026, so anyone can check what the agent did on any given day instead of relying on summary figures.
Fund it with almost any coin
Users can deposit USDC, USDT, BTC, ETH, SOL, BNB, TRX and more than 30 other cryptocurrencies from Solana, Ethereum, Bitcoin, BNB Chain, Base, Arbitrum, Polygon, Tron and other networks. Each deposit is converted and credited as USDC, a dollar-backed stablecoin, on Solana, so users do not need to bridge or swap anything themselves. Stakes start at $10 and run for 30 days.
Three months of growth
As of October 18, 2026, StakerX.ai reports:
$40 million currently staked on the platform More than 8,200 registered users, of whom more than 3,000 have funded an account 804 trades published across 139 trading days More than 27,700 completed withdrawals, totalling $10+ million Nearly $12 million in yield credited to users since launch Coming to the App Store and Google Play
StakerX is preparing native mobile apps for iOS and Android, expected in December 2026, which will bring the dashboard, deposits and the live StakerGPT trade record to the Apple App Store and Google Play. The platform is available today on the web at stakerx.ai.
About StakerX
StakerX is an agentic trading platform built and operated by StakerX Strategies AG, a quantitative trading and investment firm based in Switzerland. Its AI trading agent, StakerGPT, is built on rare-access Claude Mythos and evaluates crypto markets, applies risk filters and routes trades, and the platform publishes every trade in its record daily. Its goal is to make agentic trading accessible to anyone who holds crypto, from any chain, with every trade on the record. StakerX launched publicly on July 13, 2026. More information is available at stakerx.ai.
Media contact
Rimma S. – StakerX Strategies AG | Media Relations
[email protected]
Contact Media Relations
Vince Mueller
StakerX Strategies AG
[email protected]
StakerX's AI Agent Surpasses Passes $40M Staked Assets on Solana Within Three Months of Launch
StakerGPT trades crypto markets around the clock and publishes every trade it makes, as more than 8,200 users join the platform
StakerX.ai, an agentic trading platform built by Switzerland-based StakerX Strategies AG, has passed $40 million in assets staked on Solana less than three months after its public launch on July 13, 2026. Users fund their stakes with more than 40 cryptocurrencies from most major blockchains, and StakerGPT, the platform's agentic trading agent, puts that capital to work in crypto perpetual futures markets every day.
An AI agent that shows its work
An agentic system is AI software that carries out a multi-step task on its own. StakerGPT is built on rare-access Claude Mythos: it monitors crypto markets around the clock, reasons over potential trade setups, filters them through risk controls and routes the approved trades for execution, without a human placing each order.
Every trade is public. StakerX publishes the full record daily at stakerx.ai/trades, with the market, direction, entry and exit prices and return of each position, including both live-executed and signal-derived trades. As of October 18, 2026, the record holds 804 trades across 139 trading days since June 1, 2026, so anyone can check what the agent did on any given day instead of relying on summary figures.
Fund it with almost any coin
Users can deposit USDC, USDT, BTC, ETH, SOL, BNB, TRX and more than 30 other cryptocurrencies from Solana, Ethereum, Bitcoin, BNB Chain, Base, Arbitrum, Polygon, Tron and other networks. Each deposit is converted and credited as USDC, a dollar-backed stablecoin, on Solana, so users do not need to bridge or swap anything themselves. Stakes start at $10 and run for 30 days.
Three months of growth
As of October 18, 2026, StakerX.ai reports:
$40 million currently staked on the platform More than 8,200 registered users, of whom more than 3,000 have funded an account 804 trades published across 139 trading days More than 27,700 completed withdrawals, totalling $10+ million Nearly $12 million in yield credited to users since launch Coming to the App Store and Google Play
StakerX is preparing native mobile apps for iOS and Android, expected in December 2026, which will bring the dashboard, deposits and the live StakerGPT trade record to the Apple App Store and Google Play. The platform is available today on the web at stakerx.ai.
About StakerX
StakerX is an agentic trading platform built and operated by StakerX Strategies AG, a quantitative trading and investment firm based in Switzerland. Its AI trading agent, StakerGPT, is built on rare-access Claude Mythos and evaluates crypto markets, applies risk filters and routes trades, and the platform publishes every trade in its record daily. Its goal is to make agentic trading accessible to anyone who holds crypto, from any chain, with every trade on the record. StakerX launched publicly on July 13, 2026. More information is available at stakerx.ai.
Media contact
Rimma S. - StakerX Strategies AG | Media Relations
In one year, real-world tokenized assets on Solana increased from around 700 million to 4.3 billion dollars, according to Castle Labs. The network thus narrows the gap with Ethereum and now represents 26% of its tokenized value, compared to only 4.5% a year earlier. However, this growth has paused since last month.
In brief Solana reaches 4.3 billion dollars in tokenized assets, an increase of about 514% in twelve months. Ethereum retains the top spot with 16.6 billion dollars, but Solana is gradually closing the gap. Despite a stable overall value over thirty days, the number of holders and transfer volumes continue to increase. Solana narrows gap with Ethereum At the end of September, tokenized assets on Solana reached a record $4.6 billion, according to rwa.xyz. In its report, Castle Labs reviews this spectacular growth, which multiplied the total value by more than six times in twelve months.
More precisely, the increase from 700 million to 4.3 billion dollars represents an increase of about 514%, not 600%. As the figures are rounded, this estimate remains indicative.
At the same time, Ethereum grew more modestly, rising from 15.5 to 16.6 billion dollars, about 7%. As a result, Solana now accounts for 26% of Ethereum’s tokenized value, compared to 4.5% a year earlier. The gap remains significant since the rival network still weighs nearly four times as much. Nevertheless, Solana is clearly gaining ground.
Stable value, but more activity According to data from rwa.xyz, Solana shows approximately 4.39 billion dollars in tokenized assets as of mid-October. However, their value slightly declined over the past thirty days. In other words, most of the annual growth now seems behind the network, at least temporarily.
Activity remains dynamic though. In one month, the number of holders jumped 46%, exceeding 907,000 addresses. Meanwhile, transfer volume increased by 47%, reaching 9.09 billion dollars.
This evolution shows that adoption continues despite the stagnation of total value. Furthermore, at the beginning of September, Solana led net flows of tokenized real-world assets. The network notably hosts tokenized financial securities, credit products, and yield-generating instruments.
Is tokenization enough to support SOL? This growth does not guarantee a rise in the SOL price. Indeed, the increase in tokenized asset value does not automatically translate to purchases of the native token. What follows will notably depend on the arrival of new issuers, available liquidity, and application development.
Tokenized stocks illustrate this mixed dynamic. Their value rose from 63 to 455 million dollars in one year, after a peak of 540 million in early September. They thus remain below their recent peak.
Moreover, Castle Labs estimates application revenues at 193 million dollars over thirty days, while other calculation methods suggest 163 million.
Finally, Solana must contend with ongoing competition, notably from other blockchains gaining ground, as highlighted by this analysis of BNB Chain versus Ethereum and Solana. To maintain its progress, the network will need to attract new players and retain those who already trust it.
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Fenelon L.
Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.
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.
Several major cryptocurrencies, including Bitcoin, Solana, Near Protocol, and Hyperliquid, are encountering critical support levels amid heightened selling activity and fading momentum. Technical signals point to increased caution across the market, as investors closely monitor whether support zones will hold or further declines are on the horizon.
Near Protocol holds key support amid correctionNear Protocol (NEAR), a layer-1 blockchain platform supporting decentralized applications, has faced heavy selling pressure after failing to break through resistance between $5.80 and $6.00. The cryptocurrency is presently correcting toward the $4.65 to $4.70 support area, with the latest daily candle showing a high of $5.06 and a low of $4.74, underlining ongoing volatility.
NEAR’s technical outlook remains cautiously optimistic as long as buyers defend the $4.60 level. Losing this zone could trigger a slide toward $4.40, and potentially the stronger support band at $4.10 to $4.20. On the upside, a recovery above $5.00 may encourage bulls to target $5.40, followed by renewed attempts at $5.80 and $6.00.
The Relative Strength Index (RSI) for NEAR has retreated from overbought conditions and is approaching the neutral 50 level, implying diminishing bullish momentum. Meanwhile, trading volume has subsided compared with September’s surge. NEAR continues to trade above its medium- and long-term moving averages, helping to preserve its overarching bullish structure.
NEAR’s broader bullish trend remains intact so long as the $4.60 support area is not breached. Closing below this level could amplify downside risks, while a breakout above $5.40 would bolster bullish confidence for a fresh rally.
NEAR’s outlook now depends on whether buyers can successfully defend critical support and reclaim resistance levels.
Hyperliquid struggles after sharp pullbackHyperliquid (HYPE), a protocol focused on on-chain derivatives trading, is under sustained bearish pressure. After peaking near $98, HYPE has corrected to roughly $77.72. Sellers have dominated recent trading, driving a pronounced shift in short-term price action. Immediate support is seen at $76 to $77, where the moving average lines up with price levels.
A bounce from this area could spark a relief rally to $80 or $82. However, daily closes below $76 may accelerate losses toward $72, with $70 acting as a psychological barrier. On the upside, key resistance is situated between $80 and $82, strengthening at $84 to $86. A clear move above $86 would be needed to signal a positive trend reversal.
The daily RSI in HYPE has slipped below 50, nearing 40, reflecting escalating selling momentum. The token now trades beneath its short- and medium-term moving averages, deepening its cautionary outlook.
Mini dictionary: Hyperliquid, a decentralized exchange protocol, enables perpetual futures and spot trading directly on-chain without intermediaries, aiming for high performance and deep liquidity.
Solana approaches crucial $100 markSolana (SOL), a blockchain known for its high throughput and low fees, is experiencing renewed selling after its failure to sustain prices above $120 earlier in October. SOL is now trading near $102.31, with the $100 support level under threat. Ongoing weakness has pulled Solana below several short-term moving averages, signaling that sellers have gained control of near-term momentum.
A break below $100 could expose SOL to deeper losses toward $97 and potentially to the $92–$95 range. For a bullish reversal, SOL would need to reclaim resistance between $105 and $107, with higher targets at $110 and $115 if fresh buying emerges.
The RSI has dropped below 50, approaching 40, indicating softening demand. Despite short-term weakness, SOL remains above its main long-term moving averages, suggesting that the larger recovery trend remains in place for now.
The immediate $100 support is critical for SOL. Failing to hold this level may increase the probability of an extended correction, while a successful defense could pave the way for a rebound toward $110.
Bitcoin tests $80,000 after rally fadesBitcoin (BTC), the largest cryptocurrency by market value, is showing weakening momentum after reaching $87,000, with the price now consolidating near $81,184. The previous rally, which started in August from around $63,000, attracted significant buying volume and sparked optimism among traders. However, sellers have returned, pushing BTC toward the key $80,000–$81,000 support area.
If Bitcoin closes below $80,000, the market could see a further decline toward $78,000, with stronger support at $76,000 to $77,000. Conversely, a recovery above the $82,500–$83,000 resistance band would be needed to improve the short-term outlook and target $85,000 and higher. BTC currently trades below its short-term moving average but retains a position above longer-term averages, affirming the broader positive structure.
The market’s next move remains contingent on the defense of immediate support, as buyers and sellers vie for control at these pivotal price levels.
Solana‘s spot trading volume has shifted to a “heating” phase for the first time in approximately six months, just as SOL’s price is retreating. Recent market activity reveals increased volumes coinciding with a drop in SOL’s price, drawing renewed attention to key support levels.
Volume Change after Prolonged Cooling PeriodA daily bubble map tracking Solana spot volume now shows red bubbles, a significant departure from the consistent green readings recorded since December. The appearance of red bubbles indicates periods when trading volume exceeds the baseline for that day, with no explicit connection to price direction. Over the past six months, volume mostly cooled or remained neutral as SOL’s value gradually moved lower.
Between December and early June, SOL declined from about $150 to the low $80s, yet volume did not experience any pronounced spikes. The continuing downward drift, accompanied by subdued participation, reflected a market experiencing a slow but steady decline rather than sharp sell-offs.
At the June low near $62, the bubble map recorded neutral rather than heated conditions, signaling no climax in volume. As SOL recovered to nearly $120 in early October, bubble readings stayed neutral, providing little indication of aggressive buying or selling.
The color-coding system in this context marks green for cooling, neutral for baseline, and red for heating volume relative to historical daily averages.
Red Bubbles Signal Active Selling as Price DropsThe recent transition to red bubbles occurred while SOL slipped from about $112 to $103, signaling a period of heightened trading activity for the first time since the prolonged cooling phase. Analysts generally interpret increasing volume during a price decline as a signal of more active selling, compared to previous periods where lower volume corresponded with gentle price drifts.
This contrasts with earlier months when falling prices were accompanied by lackluster activity. Now, Solana’s spot volume has picked up momentum as the price continues to drop, hinting at a possible shift in market sentiment.
$100 Support Level Holds Key to Next TrendMarket analyst Iko | Web3 described the $100 mark as a critical threshold for Solana. In a social media post, the analyst noted SOL’s previous rally toward $120 and emphasized the importance of the $100 support zone. According to Iko, holding above $100 could present a new chance for buyers, while a breakdown below this level could shift momentum in favor of sellers.
Solana rallied toward $120, but now hovers close to $103. The area around $100 is vital; if that support holds, buyers may have another opportunity for recovery. A dip below $100 could strengthen the sellers’ position.
The updated bubble map offers a visual method to track market sentiment. Should the volume bubbles return to neutral or cooling as SOL holds near $100, it may signal waning selling pressure and point to a potential pullback. Continued heating and a decisive break beneath $100, however, would add confirmation to an extended downtrend.
The legend accompanying the chart distinguishes between cooling, neutral, heating, and an overheating state. The overheating marker is shown as not currently active on the chart, but entering this phase would indicate high stress in the market.
Until one of these scenarios unfolds, market participants are closely observing the $100 area for further direction in SOL’s price movement.
Mini dictionary: Bubble map — In cryptocurrency analysis, a bubble map is a visual tool that displays changes in trading volume or other metrics using colored ‘bubbles’ to indicate varying levels of market activity compared to historical averages. The color often reflects states such as cooling (lower volume), neutral (average volume), heating (above-average volume), or overheating (significant spikes).
Date rangeSOL price movementVolume state (bubble color)Dec – Early JunFell from $150 to low $80sGreen (cooling)June lowNear $62NeutralEarly OctRecovered to ~$120NeutralCurrentFrom $112 to $103Red (heating)
Solana recorded 557 million stablecoin transfers in September, reflecting a 33% increase compared to August. This brings the daily average to 18.6 million stablecoin transactions, underlining the rising level of network activity.
Stablecoin Transfers Surge on Solana NetworkStablecoins are digital assets pegged to fiat currencies such as the US dollar and serve as vital tools for payments, trading, and decentralized finance (DeFi) within the crypto ecosystem. Their utility extends to supporting liquidity across blockchain networks, enhancing Solana’s role in facilitating on-chain transactions.
The growing volume of stablecoin transfers does not directly imply a rise in unique users or total transaction value, but it often signals heightened network usage and platform adoption. These figures also add to the ongoing assessment of Solana’s ecosystem growth.
Metrics such as stablecoin supply, transaction value, active addresses, and trading activity on decentralized exchanges can further illuminate the pace of expansion on the network.
Mini dictionary: Stablecoin, a cryptocurrency whose value is pegged to a reserve asset (often a fiat currency like the US dollar), providing price stability and allowing users to transact on blockchain networks without the volatility typical of other cryptocurrencies.
Technical Analysis Highlights Bullish Pattern for SOLSolana Hub, a cryptocurrency analytics resource, recently identified an ascending triangle pattern in SOL’s price chart. This technical structure is formed when buyers consistently enter the market at increasing price levels while sellers maintain resistance near a set point, tightening the price range.
An ascending triangle is generally interpreted by traders as a bullish formation. A breakout above the resistance may indicate accelerating buyer momentum and could trigger further upside if accompanied by increased trading volume. Conversely, a failure to break through resistance could see SOL consolidating or even declining.
MetricSeptemberAugustStablecoin Transfers557 million419 millionAverage Daily Transfers18.6 million13.5 millionPercentage Change+33%–Solana Hub also referenced the Relative Strength Index (RSI), a momentum indicator used to evaluate the speed and change of price movements. Though a rising RSI can support bullish setups, it is subject to rapid fluctuations, and confirmation of a breakout requires sustained buying pressure and broader market support.
Solana Hub highlighted that SOL’s ascending triangle formation could set the stage for a significant breakout if buyers manage to pierce resistance, with a potential long-term target cited at $1,000—though this remains highly speculative and would demand a considerable price rally as well as strong overall market conditions.
Outlook Hinges on Network Fundamentals and Broader TrendsSolana, a high-speed blockchain known for its scalable architecture and developer-driven ecosystem, has cemented its position as a leading smart contract platform. The September surge in stablecoin transfers reinforces its appeal for decentralized payments and liquidity solutions.
However, analysts have cautioned that increased network adoption does not always translate into a proportionate rise in the price of the native SOL token. Factors such as overall crypto market conditions, network liquidity, and investor sentiment play crucial roles in price direction.
Traders are watching for confirmation of a breakout above resistance identified by Solana Hub, which could encourage bullish sentiment if accompanied by higher volume. Should this fail, SOL may remain in consolidation or move to lower support levels.
The ultimate direction for SOL will depend not just on chart patterns but a complex mix of network usage, liquidity, market capitalization, and global crypto trends. The optimism about a possible $1,000 milestone remains speculative and subject to market realities.
September’s activity demonstrates Solana’s robust ecosystem, but prospective investors are urged to weigh all relevant data and remain cautious due to ongoing market volatility.
In BriefNear Protocol (NEAR): NEAR is correcting from the $5.80–$6.00 resistance zone, and holding the $4.60–$4.70 support area is key to keeping the broader bullish structure intact.
Hyperliquid (HYPE): HYPE is under growing bearish pressure after reversing from $98, with the $76–$77 support area now the level to watch.
Solana (SOL): SOL is trading near $102.31 and pressing on the $100 psychological support after failing to hold above $120.
HOT Stories
Bitcoin (BTC): BTC is trading around $81,184 with fading momentum, and the $80,000–$81,000 support zone is in focus after the rally toward $87,000 stalled.
NEAR Faces Heavy Selling Pressure NEAR recently encountered strong selling pressure near the $5.80–$6.00 resistance zone, triggering a correction toward its current trading range. The latest daily candle shows a high of $5.06 and a low of $4.74, highlighting continued volatility. The immediate support level sits between $4.65 and $4.70, where the short-term moving average is approaching price. A successful defense of this area should encourage buyers to re-enter the market.
NEAR/USDT Chart by TradingViewHowever, a decisive daily close below $4.60 could expose NEAR to further downside toward $4.40, followed by the stronger support area around $4.10–$4.20. On the upside, the first major resistance appears near $5.00, followed by $5.20–$5.40. Breaking above those levels could open the door for another attempt at $5.80 and potentially the psychological $6.00 barrier.
NEAR's Relative Strength Index (RSI) has retreated from overbought territory and is approaching the neutral 50 level. This suggests weakening bullish momentum rather than a confirmed bearish reversal. Trading volume has also moderated compared with the explosive activity accompanying September's breakout, suggesting decreased buying enthusiasm. Importantly, NEAR remains above its key medium- and long-term moving averages, keeping the broader bullish structure intact.
NEAR's next directional move will likely depend on whether buyers can defend the $4.60–$4.70 support area. A recovery above $5.00 could restore bullish confidence and set the stage for another rally toward $5.40–$6.00. Conversely, sustained weakness below $4.60 would increase the risk of a deeper correction toward $4.20.
Hyperliquid (HYPE) Faces Growing Bearish Pressure Hyperliquid (HYPE) is experiencing growing bearish pressure following a sharp reversal from its recent high near $98. According to the daily HYPE/USD chart, the cryptocurrency is trading around $77.72, reflecting a significant correction as sellers continue to dominate short-term price action. Despite its impressive rally from August lows near $52, HYPE has struggled to maintain upward momentum, raising concerns about whether the ongoing pullback could turn into a deeper correction.
HYPE/USDT Chart by TradingViewHyperliquid's recent price action shows a series of lower highs and lower lows, suggesting that sellers have gained control of the short-term trend. After reaching approximately $98 in late September, HYPE experienced sustained selling pressure, eventually falling below the psychologically important $80 level. The immediate support area now lies between $76 and $77, where the orange moving average is located. This area represents a crucial technical level that could determine HYPE's next major move.
If buyers successfully defend $76, the cryptocurrency could enjoy a relief rally toward $80–$82. However, a confirmed daily close below $76 would weaken the technical outlook and potentially trigger further declines toward $72, followed by the psychological $70 support level. On the upside, HYPE faces immediate resistance near $80–$82, with stronger barriers around $84–$86. A sustained breakout above $86 would be necessary to signal a meaningful recovery in bullish momentum.
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HYPE's daily Relative Strength Index (RSI) has fallen below the neutral 50 level and is approaching 40, indicating growing selling pressure. The RSI's downward trajectory shows that bearish momentum remains dominant, even though the indicator has not yet entered deeply oversold territory. Additionally, HYPE is trading below its short-term and intermediate moving averages, reinforcing the negative near-term outlook.
Solana (SOL) Bears Eye $100 Support Solana (SOL) is facing renewed selling pressure after failing to hold its recent rally above $120. The cryptocurrency is trading around $102.31 on the daily chart, reflecting a sizable pullback from its October high near $125.
While the broader recovery from August remains technically intact, weakening momentum and repeated bearish candles suggest that sellers are gaining control of the short-term market structure. SOL's recent decline has pushed the price below several important short-term moving averages, raising concerns about a potential retest of the psychological $100 support level.
SOL/USDT Chart by TradingViewThe current daily candle shows SOL trading between $102.09 and $104.64, with the price settling near $102.31. This places the cryptocurrency dangerously close to the $100–$102 support area, which could determine its next directional move.
A decisive daily close below $100 would weaken the bullish structure and potentially expose SOL to further losses toward $97–$98. If selling pressure intensifies, the next significant support could emerge around $92–$95. Conversely, buyers would need to reclaim the $105–$107 resistance area to stabilize the market. A sustained recovery above this area could encourage renewed buying interest, with subsequent upside targets around $110 and $115.
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Technical signals currently favor caution. The Relative Strength Index (RSI) has slipped below the neutral 50 level and is approaching 40, reflecting deteriorating buying momentum. Meanwhile, trading volume has moderated compared with the strong activity accompanying August's breakout.
Nevertheless, SOL remains above its longer-term moving averages, including the rising orange and black trend lines, suggesting that the broader bullish recovery has not yet been invalidated.
Solana's immediate outlook remains cautious as sellers pressure the $100 support level. A successful defense could trigger a rebound toward $107–$110, while a confirmed breakdown would increase the probability of a correction toward $97 and potentially $95.
Bitcoin (BTC) $80,000 Support in FocusBitcoin (BTC) is showing signs of weakening momentum as the cryptocurrency struggles to hold its position above $82,000 following its recent rally toward $87,000. According to the daily BTC/USD chart, Bitcoin is trading around $81,184, with sellers gradually pushing prices lower after several unsuccessful attempts to reclaim higher resistance levels.
BTC/USDT Chart by TradingViewAlthough Bitcoin remains above its major long-term moving averages, the formation of lower highs and growing selling pressure suggest that the market could experience further consolidation before establishing its next significant direction.
Bitcoin's recovery began in August when the cryptocurrency surged from approximately $63,000 to above $80,000, supported by strong buying volume. The bullish momentum continued into September and early October, eventually pushing BTC toward the $87,000 resistance area. However, buyers failed to sustain the advance, allowing sellers to regain control and drive the price toward its current trading range.
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The latest daily candle shows a high of $82,170 and a low of $81,131, with Bitcoin trading near $81,184. This places BTC near the crucial $80,000–$81,000 support zone, where buyers may attempt to stabilize the market.
A decisive daily close below $80,000 could accelerate bearish momentum, exposing Bitcoin to further downside toward $78,000. If this level fails to hold, the next major support area sits around $76,000–$77,000, near the longer-term moving averages.
Conversely, Bitcoin would need to reclaim the $82,500–$83,000 resistance area to improve its short-term technical outlook. A sustained breakout above $83,000 could encourage another recovery toward $85,000, followed by the recent highs around $86,500–$87,000.
Meanwhile, Bitcoin is trading below its short-term moving average but remains above its rising intermediate and long-term averages, indicating that the broader recovery structure remains intact.
Yuga Labs and Bored Ape Yacht Club launch Mudwater, a Solana trading card series. BAYC and MAYC holders can claim packs, and a 2.5% trade reflection buys ApeCoin ($APE).
@yugalabs and @BoredApeYC have launched Mudwater, a trading card series built on @Solana. Holders of Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs can claim packs now. Every trade of a Mudwater card also funds purchases of ApeCoin ($APE), which are paid out to holders of the new cards.
What Mudwater includesThe debut set is called Swamp Origins. Crypto Briefing reports that the collection went live on Oct. 17, 2026. Eight of the cracked-ice cards are one-of-one pieces, according to TechFlow.
Each digital card is a Solana NFT, with a physical counterpart held in a vault, according to Tron Weekly. The planned supply is 10,000 boxes. Each box holds 24 packs of 10 cards, which works out to 240,000 packs and 2.4 million cards, TokenPost reports.
Each Bored Ape qualifies for 10 packs and each Mutant Ape for two. That puts more than 140,000 packs in the holder claim pool, which TokenPost says is open through mid-January 2027. Claiming is free apart from network fees, while opening a pack costs 8 USDC, according to CryptoTicker.
How the 2.5% ApeCoin mechanism worksEach Mudwater NFT trade carries a 2.5% reflection that buys $APE and distributes it to collectors in proportion to their holdings, per TokenPost. Cards, packs and Totems trade on OpenSea, Crypto Briefing reports.
The 2.5% is not the only fee. ETHNews reports that a separate 2.5% publisher royalty applies, so buyers and sellers face a combined 5% charge. The same report cautions that trading volume does not equal net demand for $APE, since reward recipients may sell their tokens and offset buying.
Crypto Briefing also notes that the scale of $APE buying depends on how actively the cards change hands. CryptoTicker adds that NFT trading volume has been thin for months, so the payout to holders will only become clear in the coming weeks.
The launch is also notable for its chain choice. BAYC, the $APE token and the Totems that unlock claims all sit on Ethereum, while the cards and their market sit on Solana, according to Solana Compass. The outlet says Yuga Labs has not publicly explained why it chose Solana.
Sources:
Crypto Briefing: Yuga Labs launches Mudwater trading cards on SolanaTokenPost: Yuga Labs launches Solana card collection with 240,000 packs plannedETHNews: Yuga Labs opens Mudwater claims with Solana cards and APE rewards
Yuga Labs launched Mudwater, a physical and digital trading card collection built on Bored Ape Yacht Club art, on Solana on October 17, 2026 at 23:35 UTC. BAYC holders can claim 10 packs each and Mutant Ape Yacht Club (MAYC) holders two, with claims open through January 19, 2027, according to the launch announcement.
The drop is Yuga Labs’ first collection on Solana and lands while the broader NFT market is still absorbing a sharp pullback in trading volumes. It also marks the first time the company has put a BAYC-linked product’s tradable assets on a chain other than Ethereum. The first set, Swamp Origins, spans 120 artworks and a fixed supply of 240,000 packs, most of them free to claim for existing ape holders.
What the Swamp Origins Set Includes Mudwater’s first set contains 120 Bored Ape art pieces, with foil, serialized and “cracked-ice” variants layered on top of the standard cards. Each pack holds 10 cards, 24 packs form a box, and 10 boxes make a case, for a fixed supply of 10,000 boxes. Yuga Labs splits those boxes four ways: 7,134 boxes (71.34%) for a community airdrop to ape holders, 2,000 (20%) as a commercial reserve, 566 (5.66%) for community onboarding, and 300 (3%) for partner communities.
Each card exists twice, as a Solana NFT and as a printed card, in what the company describes as a way of collecting BAYC art physically while keeping it rooted on a blockchain. The physical run is printed by Orange Cap Games. BAYC itself is an Ethereum brand: the apes, the ApeCoin token and the Totem used to claim packs all sit on Ethereum, while the cards and the market for trading them run on Solana.
How BAYC and MAYC Holders Claim Packs Claims run through a Totem, an ERC-6551 token-bound account that Yuga Labs said it airdropped to BAYC and MAYC holders. Each Bored Ape unlocks 10 packs and each Mutant Ape two, and serialized packs are awarded at random 30 days after the initial claim.
Holders connect an Ethereum wallet to the official Mudwater claim page to check their Totems and redeem packs, with the window closing at 00:00 UTC on January 19, 2027. Totems, packs and cards all trade on OpenSea.
The 2.5% ApeCoin Reflection and What Remains Unsettled Mudwater ties the Solana collection back to Ethereum through a fee mechanic. Every trade of a Mudwater NFT carries a 2.5% “reflection” on top of a 2.5% royalty. That reflection is used to buy ApeCoin (APE), which is then distributed to collectors in proportion to how much of the Mudwater collection they hold, so activity on Solana feeds demand back into the Ethereum-based token.
Several details remain unconfirmed. The official site lists conversion between the physical and digital cards as “coming soon,” and Yuga Labs has not yet named who stores the printed cards or how a holder would take delivery. No source has measured trading volume on the new collections, so the size of the APE reflection is still unknown. The launch also arrives against a difficult backdrop for NFTs, as marketplace volumes have collapsed and one major venue is winding down its website.
AUTHOR
Blockchain analyst specializing in the regulatory impact of government policies on the crypto industry. Known for his thorough research and clear, engaging writing, Emmanuel provides insightful analysis on the latest trends, market shifts, and emerging crypto innovations. His work aims to educate and inform both novice and experienced readers, offering expert perspectives on the fast-evolving world of digital assets. With a passion for staying ahead of the curve, Ogwu is a trusted voice in the cryptocurrency and blockchain space.
Yuga Labs, the creator of Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC), has unveiled Mudwater, a new trading card collection that bridges both physical and digital formats using Solana‘s blockchain. The release offers eligible collectors the chance to claim exclusive cards, with a built-in mechanism to reward holders with APE tokens based on ongoing trading activity.
Physical and digital cards backed by BAYC artMudwater features 120 unique pieces of artwork drawn from the well-known BAYC collection, including standard, foil, serialized, and rare cracked-ice editions. Eight of the cards are one-of-one cracked-ice serialized versions, adding an additional rarity element to the offering.
Each BAYC NFT enables holders to claim 10 packs of Mudwater cards, while each MAYC NFT allows for two packs. Every pack consists of 10 individual cards. Yuga Labs has restricted Mudwater’s production run to 10,000 boxes, heightening the collection’s exclusivity.
Collectors gain access to Mudwater card packs via Totems, which are airdropped to qualifying wallets. The packs can be claimed directly using these Totems, aligning each allocation with the user’s BAYC or MAYC NFT holdings.
Mudwater brings BAYC artwork into a dual-format trading card collection on Solana, opening claims to all Bored Ape and Mutant Ape holders. The release combines on-chain digital assets with real-world collectibles, expanding the BAYC universe beyond profile pictures.
Yuga Labs has partnered with OCAP Games to produce the physical cards, which are printed on orange core paper, providing collectors with tangible assets in addition to digital ownership rights supported by Solana’s blockchain.
Mini dictionary: Yuga Labs, a Web3 company known for pioneering NFT brands such as Bored Ape Yacht Club, has become a leading force in digital collectibles and blockchain-powered art projects.
2.5% APE rewards mechanism ties trading to token distributionMudwater introduces a unique trading-linked reward for collectors. Yuga Labs allocates 2.5% of Mudwater’s card trading volume to purchasing APE tokens, which are then distributed proportionally to current Mudwater card holders.
This arrangement means that collectors not only access exclusive art collectibles, but also receive additional value in the form of APE tokens, depending on the ongoing secondary market activity. Distributions are adjusted according to the size of a user’s collection.
For example, a collector with a substantial share of Mudwater cards would, in turn, receive a larger share of distributed APE tokens. Distribution amounts will fluctuate with the trading activity and eligible volume generated from card sales.
Holder typePacks per NFTCards per packAPE RewardsBAYC holder1010ProportionalMAYC holder210ProportionalTotems, card packs, and individual cards are now available for trading on OpenSea, supporting both primary distribution and secondary market activity. The ultimate trading volume and resulting APE distributions will depend on participant activity after launch.
Mudwater’s integrated mechanism links collectible card trading directly to token rewards and community incentives, blending physical and digital collecting with blockchain-based benefits.
The launch broadens the Bored Ape Yacht Club ecosystem, offering additional engagement avenues for both NFT collectors and APE token holders. It signals Yuga Labs’ continued focus on combining traditional collecting and emerging blockchain possibilities.
Binance founder Changpeng Zhao, known as CZ, has reiterated his support for XRP, Solana, Zcash and several other digital assets as Solana faces increased scrutiny following its expansion efforts in China.
Broader support for leading blockchain projectsCZ used his social media platform to publicly endorse a selection of major cryptocurrencies and stablecoins. Specifically, he named Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), XRP, Solana (SOL), Hyperliquid (HYPE), Zcash (ZEC), SIGN, and various stablecoins among the projects he personally supports.
His remarks emphasized a broader perspective, indicating consistent support for blockchain initiatives demonstrating progress in any country. CZ highlighted that his backing extends beyond individual assets, advocating for general industry growth worldwide.
“I am always supportive of any blockchain making any progress in any country. BTC, ETH, BNB, XRP, SOL, HYPE, ZEC, SIGN, all stablecoins, etc, you name it. I was happy that SOL can advertise and get an office in Shanghai.”
Binance, founded by CZ, is one of the world’s largest cryptocurrency exchanges, facilitating trading, digital custody, and blockchain ecosystem development on a global scale.
Solana’s push into China and its aftermathSolana made headlines after opening an office in Shanghai and launching a major advertising campaign throughout the city. CZ initially welcomed this expansion, suggesting it could signal easing restrictions on crypto activity in China and potentially pave the way for other projects to follow suit.
However, Solana encountered challenges almost immediately. The platform postponed a planned event at Shanghai’s Shangri-La Hotel on October 16, after attendees reported law enforcement presence at the venue. Organizers cited logistical concerns for the delay, later revealing that attendee registrations had increased more than fourfold without sufficient notice, exceeding the number permitted by local authorities.
Lily Liu, president of the Solana Foundation, explained that this surge in interest forced the postponement. She described how the event’s registration data unexpectedly spiked, complicating compliance with local regulatory procedures.
Mini dictionary: Solana Foundation, a non-profit organization responsible for supporting the development, adoption, and decentralization of the Solana blockchain ecosystem.
Social media speculation mounted that CZ’s posts may have played a role in drawing official attention to Solana’s activities in China. CZ responded by stating that he only became aware of a Solana advertisement on a Shanghai building 12 to 24 hours after it was taken down. He argued that this timing made it unlikely for his comments to have prompted the removal, as the advertisement had already been withdrawn within 10 minutes of being placed.
EventDateOutcomeSolana advertising campaign launchOctober 2026Ad removed within 10 minutesSolana Shanghai event (planned)October 16, 2026Postponed due to law enforcement presence and surge in registrationsXRP’s strengthened positionXRP’s inclusion in CZ’s list of supported assets further cements its standing in the eyes of major industry figures. His public endorsement of multiple Layer 1 blockchains reinforces an ongoing narrative that prominent crypto assets continue to draw attention and institutional confidence, despite complex regulatory environments in several markets.
The developments in Shanghai also highlight the risks associated with expanding blockchain businesses into China. Local compliance challenges, operational uncertainties, and fluctuating regulatory attitudes remain important considerations for any project seeking greater visibility in the country.
CZ has maintained his supportive stance throughout the controversy, underscoring his commitment to backing blockchain innovations across global markets. For now, his list of preferred digital assets remains unchanged.
18 October 2026 | 11:50 At about 03:43 UTC on August 12, a bad internet route began spreading from TeraSwitch’s data centre in Miami.
According to Metrika’s analysis of the incident, around 90 Solana validators holding roughly 29% of staked SOL lost connectivity, and blocks took up to about 30 minutes to finalise, against the usual 13 seconds.
Solana never went down. Blocks kept coming, and an uptime chart would have shown an ordinary day. On Wednesday, October 21, the network switches to Alpenglow, an upgrade that targets finality of roughly 150 milliseconds, but nothing in it touches the hosting problem. A research report published on October 16 by Fidelity’s FCAT unit puts the largest hosting network at about 29% of stake, close to the share Metrika saw go offline.
What happened on August 12 Solana finalises a block, the point at which a transaction can no longer be reversed, only while more than two-thirds of staked SOL is voting. That normally takes about 13 seconds. With roughly 71% of stake still online on August 12, the network stayed above the line, but only just. Metrika puts the offline share at 28.83%, against a 33.34% point at which finalisation stops chain-wide.
August 12: share of staked SOL offline, against the finality-halt line
Offline: 28.83%
Headroom: about 4.5 points
Finalisation stops: 33.34%
Online: about 71%
Source: Metrika.
Metrika says another four to five percentage points of stake on the affected routes would have meant a network-wide halt needing coordinated recovery. The fault began in TeraSwitch’s Miami facility and spread to validator infrastructure in London, Amsterdam, Frankfurt, Singapore and Tokyo, and in most cases the affected validators’ backup systems never switched on.
TeraSwitch fixed the fault about ten minutes after diagnosing it, and traffic was flowing again by 04:16 UTC, 33 minutes after it began. Validators recovered over the following 40 minutes. In that time, the share of scheduled slots producing no block jumped above 32%, from under 1%. Non-vote transactions per second fell from roughly 1,100–1,300 to below 300. For about half an hour no blocks finalised at all, and the backlog then cleared in a burst averaging around 1,600 seconds from production to finality.
The one number that didn’t move was uptime, which held at 100% because the chain never stopped producing blocks. For about half an hour, though, nobody could say when a payment would become irreversible. Metrika, which sells a digital-asset risk-management platform and draws on its own indicators here, treats finality delay, not downtime, as the event that matters to anyone settling funds on Solana.
What a stalled chain would and wouldn’t mean The risk FCAT describes is stalled finality and possible censorship. A coalition holding more than one-third of stake could stop the rest from reaching the two-thirds needed for finality, the report says, but it would not gain unrestricted control over user assets or the ability to rewrite finalised transactions. A hosting fault that took out the same share of stake would halt finality without anyone attacking anything.
That share is not hard to reach. FCAT counts roughly 20 validator identities (18 in another passage) holding more than a third of stake, and says that third sits in two countries, on two hosting networks and on two base client implementations. Those are vote accounts, not independent organisations: Figment, for one, runs two of the top five validators in that group. FCAT’s overall verdict is positive, citing more than two years without a major mainnet outage, vote success averaging about 99.7% in 2026 and a software stack that is slowly diversifying. It lists concentration as the thing to keep watching. FCAT is Fidelity’s applied-technology research unit and runs a small Solana validator of its own.
Two months on, the share is still about 29% FCAT’s October snapshot puts the largest hosting network at about 29% of stake. The two figures measure different things, stake offline during a fault and a network’s share of all stake, but they land in the same place. FCAT says the Solana Foundation had already been working to reduce TeraSwitch’s dominance. Here is how its numbers break down, from the people running validators to the code they run.
18-20
OPERATORS
validator identities hold over a third of stake
Vote accounts, not independent organisations. Figment runs two of the group’s top five.
~40%
LOCATION
of stake in Frankfurt and Amsterdam
An IP-geolocation estimate that FCAT says may be inaccurate. About 59% sits in Germany, the Netherlands and the US.
~29%
NETWORK PROVIDER
of stake on one hosting network
October snapshot. Validators in different cities can share a provider, and validators in one city can use different ones.
~63%
SOFTWARE
of stake ran Jito-based software in Q3
Another 26% ran Harmonic. Most configurations still share Agave code underneath, so one bug there could hit them together.
Source: FCAT, The State of Solana: Network Health and Resilience (October 2026).
Validators cluster for a reason. Latency rewards being close to other nodes, FCAT notes, and specialist hosts such as TeraSwitch and Latitude build hardware for Solana’s workload. Operators do have protections: failovers, backup power, and private networks such as DoubleZero that reduce reliance on the public internet. The Foundation also set up an incident-response network, SIRN, in early 2026. On August 12, though, most backups never switched on.
The Foundation’s limit reaches about 4% of stake The Solana Foundation’s delegation programme sets the main rule. Since May 1, 2026, validators that want Foundation stake have had to sit on a hosting network under a 25% ceiling and in a data centre under 15%. A validator that fails loses its Foundation delegation until it passes again.
The limits took effect three months before the August fault, and by FCAT’s October snapshot the largest network was still above the ceiling. The programme’s reach is the other half of the problem. As of Q3 it delegated to about 51% of validators, but those delegations amounted to about 4% of active stake. The rule gives validators a reason to diversify, but it doesn’t govern the rest of the stake.
Largest hosting network’s share of stake (October)
About 29%. The black line marks the Foundation’s 25% ceiling.
Stake delegated by the Foundation’s programme (Q3)
About 4%.
Both bars use the same scale, 0-40% of staked SOL. Sources: FCAT, Solana Foundation.
What Alpenglow fixes, and what it doesn’t Alpenglow goes live on mainnet in epoch 1064, which Solana says starts around 15:00 UTC on Wednesday, October 21. Anza, the team behind the Agave client, has said about 14:50. The old voting system keeps running for the first 5,000 slots, about 18 minutes, and the new one takes over at slot 459,653,000. Finality is meant to drop from about 12.8 seconds to roughly 150 milliseconds, a figure Solana describes as an expectation, not a constant. Wallets and apps keep working as they do today.
It does nothing for the hosting problem. A faster vote shortens how long agreement takes, but nothing on Solana’s upgrade page changes where validators run or which provider connects them.
For now it also narrows software diversity. Validators must run Agave, Jito-Solana or Harmonic Salsa on a release built on Agave 4.3.0. Firedancer and Frankendancer aren’t supported during the migration, and Solana’s page gives no date for when they will be. Firedancer is the independent codebase FCAT calls Solana’s most significant move toward independent client diversity. Validators must also hold at least 0.8 SOL above the rent-exempt minimum in their vote account, or they won’t vote or produce blocks in the next epoch.
BEFORE
Now to about 14:50-15:00 UTC, October 21
Firedancer and Frankendancer operators move to an Agave-based client. Every voting validator holds 0.8 SOL above rent-exempt in its vote account.
AT THE SWITCH
Epoch 1064 begins
The old voting system runs for the first 5,000 slots, about 18 minutes. Alpenglow takes over at slot 459,653,000.
AFTER
What changes for data
Vote transactions leave blocks, so transaction counts fall. Confirmed and finalized become the same state. Participation data moves to block-footer certificates.
Monitoring changes too. Metrika’s analysis treats votes per block as the closest indicator of how near the network is to the finality line, because votes are ordinary transactions carried in blocks. Alpenglow takes votes out of blocks, and Solana’s migration notes say anything that measures validator participation by parsing vote transactions will need a new source, because that data moves into certificates in the block footer. Reported transaction counts will also fall without any drop in real activity.
What to check this week If you stake SOL: look up where your validator is hosted before you delegate. Validators.app, the source both FCAT and the Foundation use, tracks stake by hosting network and data centre. A validator on the largest network shares the August risk.
If you build on Solana: expect transaction-count and TPS dashboards to drop on Wednesday with no change in real activity. Keep reading at confirmed until Alpenglow is live, then move to finalized, as Solana’s migration notes advise. Before activation, finalized still means a wait of about 12.8 seconds. Re-check any timeout or retry tuned to that delay, and track time to finality alongside uptime.
If you run a validator: if you use Firedancer or Frankendancer, switch to an Agave-based client before epoch 1064, and check that the vote account holds the 0.8 SOL.
After Wednesday, two numbers are worth watching: whether the largest hosting network’s share falls below the Foundation’s 25% ceiling, and when Firedancer is supported again. Neither is on Wednesday’s schedule.
This article is provided for informational purposes only and does not constitute financial or investment advice.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
This October, capital flows seem to prefer Bitcoin despite the overall risk-off mood.
Technically, it means that capital is not rotating into altcoins as the textbook fear rotation would suggest. Ethereum dominance fell 5% this month, and Bitcoin dominance increased 2.5% this month, highlighting a clear shift in market preference toward BTC.
Then, what does this imply about the SOL/ETH momentum?
The ratio jumped over 11% during the last two months but decreased by more than 2.3% so far this month. Thus, Solana seems to have difficulty gaining any significant ground against Ethereum despite the relative weakness of the latter.
Moreover, the ratio now encounters resistance at the critical level of 0.05.
Source: TradingView (SOL/ETH) Why is Solana’s activity lead missing from SOL/ETH? That said, on-chain data tell a different story.
According to data from Token Terminal, Ethereum has only recorded around 28 million transactions so far this month, compared to over 6 billion on Solana.
The key takeaway?
Solana is averaging nearly 1,500 transactions per second in 2026, which is almost 8x BNB Chain’s throughput and around 60x Ethereum’s, underscoring the network’s edge in transaction throughput.
Notably, this divergence is beginning to show in social sentiment.
Data shows Solana has overtaken Ethereum in Social Engagements, with 29.7 million engagements over the past 24 hours compared to ETH’s 28.91 million. In addition, Solana has overtaken Ethereum in Creator Activity, with 24.4k creators compared with 23k for ETH.
This suggests that there is growing social traction for SOL, even as its relative price momentum against ETH remains weak.
The key question is: Why is the market still betting on the SOL/ETH setup despite capital flows favoring Bitcoin and ETH demonstrating better price momentum than Solana [SOL]?
According to AMBCrypto, this is where Solana’s divergence in transaction activity begins to matter.
Could Solana’s fees support a SOL/ETH recovery? High transaction activity can generate fees, giving the activity comparison an economic dimension.
Solana’s Monthly Fees reached around $20 million in recent months, with October already recording $15 million. Ethereum generated approximately $8 million in fees over the comparable October period.
However, the supply implications required a closer look.
Solana burned half its Base Fees, while validators received all Priority Fees. Higher total fees therefore offered an incomplete supply picture.
The accompanying Blockworks chart put Solana’s Burn Rate at 2.2%, its highest since early 2025. That reading alone did not establish that SOL’s supply was shrinking or that burns exceeded new issuance.
Source: Blockworks What could Ethereum’s staking queues mean for SOL? Meanwhile, the staking dynamics of Ethereum [ETH] are adding another layer to the SOL/ETH setup.
According to ValidatorQueue, ETH’s entry queue has fallen from 3 million in early May to 1.23 million. At the same time, the exit queue has jumped from around 103,000 to over 1 million, suggesting that demand for new staking deposits is cooling and there is a surge in the number of validators waiting to unstake their ETH.
In short, the SOL/ETH ratio is showing a divergence between tightening supply and cautious market demand. If this trend holds, Solana’s growing burn rate and Ethereum’s increasing staking exit queue could strengthen SOL’s relative performance and set the stage for a breakout above the 0.05 level.
Final Summary Solana’s high transaction activity and rising burn rate are helping tighten SOL’s supply, even as its price struggles against ETH.
Ethereum’s rising staking exit queue could give SOL an edge and support a potential SOL/ETH breakout above 0.05.
Solana’s ecosystem is experiencing significant growth, with strong transaction volumes suggesting that its current price of around $105 may be undervalued. Despite trading approximately 65% below its January 2025 peak, Solana maintains a robust market capitalization of around $60 billion and continues to process thousands of transactions per second. The Motley Fool has noted these factors, highlighting the potential for Solana’s price to rise, possibly reaching targets like $190 as optimism in its ecosystem grows. This analysis comes amid varied market pricing on Solana’s potential to reach certain price thresholds in October.
Key Takeaways Pricing suggests market participants see potential undervaluation in Solana given its ecosystem growth and transaction volume. Current market pricing indicates limited confidence in Solana reaching $190 by the end of October, with odds at approximately 1% YES. A significant portion of market activity appears more consistent with Solana’s price dipping to or below $100, currently priced at 82% YES. What to Watch Market participants will be closely observing developments such as SEC regulatory adjustments, potential network upgrades, and broader crypto market trends. Key indicators for Solana reaching higher price targets include the successful activation of the Alpenglow update without outages and any positive regulatory news. Conversely, any significant network outages or negative regulatory actions could reinforce scenarios where Solana’s price remains subdued.
Term Structure
Contract Odds Δ since publish Volume 24h November 1 2026 0.6% — — View market → November 1 2026 2.9% — — View market → November 1 2026 28% — — View market → November 1 2026 7.4% — — View market → November 1 2026 0.5% — — View market → November 1 2026 0.9% — — View market → November 1 2026 1.8% — — View market → November 1 2026 1.8% — — View market → November 1 2026 2.8% — — View market → November 1 2026 0.1% — — View market → November 1 2026 0.1% — — View market → November 1 2026 5.5% — — View market → November 1 2026 0.4% — — View market → November 1 2026 2.1% — — View market → November 1 2026 82% — — View market →
Yuga Labs launches Mudwater, a physical and digital trading card collection built around BAYC artwork.
BAYC holders qualify for 10 packs per NFT, while MAYC holders receive two packs per NFT.
Mudwater features 120 artworks, rare cracked-ice editions, and eight serialized one-of-one cards.
The project allocates 2.5% of card trading volume to APE purchases distributed among collectors.
Yuga Labs has launched Mudwater, a physical and digital trading card collection on Solana, with claims open to Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) holders. The collection features 120 artworks, including foil, serialized, and rare cracked-ice editions.
Each BAYC NFT qualifies its holder for 10 packs, while each MAYC NFT provides two packs. Every pack contains 10 cards, and the project has limited production to 10,000 boxes.
Mudwater also directs 2.5% of card trading volume toward APE token purchases, which collectors receive proportionally based on their holdings.
How Yuga Labs’ Mudwater Trading Cards Work on Solana
According to announcements from Yuga Labs and Bored Ape Yacht Club on X, Mudwater connects physical collectibles with blockchain-based ownership. The collection brings BAYC artwork into a trading card format while using Solana to support its digital component.
Eligible holders can claim packs through airdropped Totems, which enable access to the collection. BAYC holders qualify for 10 packs per NFT, while MAYC holders receive two packs per NFT.
Each pack contains 10 cards, giving eligible collectors different allocations based on their NFT holdings.
The collection includes 120 artworks alongside foil, serialized, and cracked-ice editions. Eight cards are designated as serialized cracked-ice 1/1s, making each a unique edition within the collection.
Yuga Labs also confirmed that the cards are printed by OCAP Games using its orange core paper. This physical component gives collectors tangible items alongside the collection’s blockchain-based assets.
The collection extends the BAYC ecosystem beyond its original NFT format. Rather than limiting ownership to digital profile pictures, Mudwater introduces physical cards that collectors can trade alongside their associated digital assets.
How Mudwater’s 2.5% APE Token Mechanism Works
Mudwater’s token mechanism links secondary-market trading activity to APE purchases. According to the Bored Ape Yacht Club, 2.5% of card trading volume goes toward buying APE tokens.
Those tokens are then distributed among collectors in proportion to their holdings of the Mudwater collection. This creates a connection between card ownership and the project’s trading activity.
For example, a collector holding a larger share of the collection could receive a proportionally larger allocation of the purchased APE tokens. Actual distributions depend on the mechanism’s terms and the volume generated through eligible trades.
The arrangement differs from a conventional collectible market, where resale activity does not automatically provide token distributions to holders. Mudwater instead incorporates a token-based reward mechanism into its trading model.
Totems, packs, and cards are available to trade on OpenSea, according to the supplied announcement. However, the available information does not establish how much trading volume the collection will generate or how large future APE distributions might become.
For NFT collectors and APE holders, the launch introduces another way to participate in the BAYC ecosystem. Its central proposition combines physical collecting, Solana-based digital assets, and trading-linked APE distributions, with actual rewards dependent on market activity.
Yuga Labs has launched Mudwater, a physical and digital trading card collection on Solana, allowing Bored Ape Yacht Club and Mutant Ape Yacht Club holders to claim free packs from a limited supply of 240,000.
Summary
Yuga Labs launched Mudwater on Solana, offering physical and digital collectible cards to BAYC holders. Bored Ape holders can claim ten packs per NFT, while Mutant Ape holders receive two. Mudwater features 120 card designs, including eight unique editions, with 240,000 packs available across collections. The project allocates 2.5% of NFT trading value toward purchasing ApeCoin rewards for eligible collectors. Solana traded near $104 as bearish technical indicators pointed to continued weakness around $100 support. In an October 18 announcement, Yuga Labs confirmed that the collection was live and that eligible NFT holders could begin claiming their cards. The release introduces 120 designs, rare collectible editions and an ApeCoin reward mechanism linked to NFT trading.
The launch arrives while Solana (SOL) faces renewed selling pressure. CoinGecko data placed the token near $104, down approximately 5.6% over seven days, after retreating from its earlier rally toward $120.
The card collection operates independently of SOL’s market performance, and the available data does not establish a direct price reaction to Yuga Labs’ announcement.
BAYC and MAYC holders can claim Mudwater cards Mudwater’s official website lists more than 140,000 packs available for Bored Ape and Mutant Ape collectors through the initial claim program.
Under the distribution rules, each Bored Ape NFT qualifies its holder for ten packs, while each Mutant Ape NFT qualifies for two. Every pack contains ten cards drawn from the collection’s available designs. Yuga Labs has established a January 19, 2027, deadline at 00:00 UTC for eligible holders to claim their allocations.
Collectors can connect their wallets through the official Mudwater website to check their entitlements. The project describes the claim as free for eligible NFT holders, although it does not establish that every associated blockchain transaction will be free of network charges. The project has a fixed supply of 10,000 boxes containing 24 packs each. That amounts to 240,000 packs across all distribution categories.
According to the official allocation, 7,134 boxes, equivalent to 171,216 packs, are reserved for the community airdrop. Another 566 boxes support community onboarding, while partner communities receive 300 boxes.
The remaining 2,000 boxes form a commercial distribution reserve, representing 20% of the total supply. The distribution extends beyond existing Bored Ape collectors. Yuga Labs identifies Otherside holders, ApeChain communities and selected Solana communities among the groups eligible for partner allocations.
The company has not published a final count of completed claims or verified how many allocated packs had been opened as of October 18.
Mudwater offers rare cards and ApeCoin rewards The Mudwater collection contains 120 artworks, with physical and digital versions designed around the Bored Ape universe.
Its official collection page identifies approximately 2.4 million individual cards across the available packs, including foil editions, numbered cards and eight unique cracked-ice cards. The cracked-ice versions are identified as one-of-one collectibles, meaning the collection contains only one copy of each of the eight designs in that format.
Yuga Labs has introduced a mechanism that directs 2.5% of eligible digital NFT trading value toward purchasing ApeCoin (APE). The purchased tokens are intended for distribution among Mudwater collectors based on their qualifying holdings. According to the project’s documentation, unopened packs, sealed boxes and cases can qualify alongside individual cards.
A separate 2.5% royalty applies to NFT transactions under the collection’s published terms. The royalty is distinct from the portion allocated to APE purchases.
For example, a transaction worth $100 would generate a $2.50 APE allocation under the stated 2.5% mechanism. A separate $2.50 royalty would apply if the transaction is subject to the published royalty terms.
The project’s materials do not guarantee that collectors will earn a fixed return, since distributions depend on eligible trading activity and holdings.
Meanwhile, Mudwater’s official website links to OpenSea marketplaces for individual cards, sealed packs and Totems. Collectors can trade eligible digital items through those listings. Yuga Labs plans to introduce a feature allowing collectors to combine 24 pack tokens into a sealed box token. Ten box tokens will qualify for conversion into one case token.
The project identifies that feature as coming soon, along with a service allowing collectors to exchange physical cards for digital tokens and request physical delivery of cards held in custody.
Yuga Labs expands BAYC collectibles into Solana The Mudwater launch adds another product to Yuga Labs’ Bored Ape collection, which originally gained recognition through Ethereum-based NFTs. The company has spent recent years focusing on its Ape-related brands and the Otherside virtual environment.
In June 2025, crypto.news examined Yuga Labs’ renewed focus on Bored Apes and Otherside after the company transferred intellectual property rights associated with other NFT collections. The restructuring included the transfer of CryptoPunks intellectual property to the Infinite Node Foundation and Moonbirds to Orange Cap Games.
Mudwater introduces a card-based format to the Bored Ape ecosystem, combining blockchain tokens with physical collectibles. According to its published roadmap, collectors will eventually be able to redeem qualifying digital cards for physical versions held in a warehouse. The reverse process would allow owners to submit physical cards for verification before receiving corresponding blockchain tokens.
The website currently labels these conversion services as upcoming features. The project includes a competitive card game in which two players each commit three cards, with the winner receiving one randomly selected card from the opponent’s stake. Yuga Labs said a version of the game is available inside Otherside using demonstration cards. Support for players’ actual on-chain Mudwater cards is planned for a later release.
A separate project notice states that serialized packs will be awarded randomly 30 days after the initial claim period begins.
Solana price falls toward $100 as momentum weakens While BAYC collectors begin claiming their Mudwater packs, Solana continues trading near a closely watched support area.
CoinGecko’s latest retrieved market snapshot placed SOL at approximately $104.04, with a market capitalization of $61.34 billion and daily trading volume near $1.84 billion.
The token traded between $101.41 and $104.96 during the preceding 24 hours. Its seven-day performance remained negative, following an earlier retreat from the $120–$125 area. The supplied daily technical chart showed the MACD line near -2.05, below the signal line at -0.42. Its histogram stood at -1.63, indicating negative momentum in the chart’s measurement period.
At the same time, the Relative Strength Index stood at 38.86, below its moving average of 45.14 and the neutral 50 level. The reading remained above the traditional oversold threshold of 30.
Solana(SOL) price chart, source: TradingView Crypto analyst Iko identified $100 as the main support level to watch following Solana’s retreat. He suggested that defending the level could support another recovery attempt, while a sustained decline below it could allow selling to continue.
In the October 16 Solana support analysis, the token traded near $104.47 after falling to $103.91 during the session. The weekly 50-period moving average stood near $98.99, just below the $100.62 support area identified in the report. Solana’s recent weakness coincided with persistent institutional selling. U.S. spot SOL exchange-traded funds recorded nine consecutive sessions of withdrawals before the October 16 report.
The October 21 network upgrade remained another scheduled event for traders, with Alpenglow expected to target transaction finality of approximately 150 milliseconds.
For Mudwater collectors, the next announced milestones include the random allocation of serialized packs, future physical-card conversion and the January 19, 2027, claim deadline.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Solana’s (SOL) RWA market has seen significant growth over the past year, with the same catching up with Ethereum thanks to improved application revenues in its network. In fact, the network’s on-chain RWA market capitalization increased from around $700 million to $4.3 billion in just one year.
Here, it should be noted that there is still a sizeable difference, compared to Ethereum’s market which increased from $15.5 billion to $16.6 billion. Simply put, while Solana’s RWA market is just 26% the size of Ethereum’s, Solana saw much greater growth relative to Ethereum.
With increasing adoption and revenue outperforming other networks, can these factors help push SOL’s price higher?
Source: X
Q3 release reports reveals some gains
According to the released reports, Solana App revenue rose by about 48% QoQ to $299.1 million, the highest since Q3 2025. This revenue highlighted the scale of economic activity across Solana’s applications.
However, much of the total came from consumer applications and trading related activity. This can fluctuate with market speculation and user attention.
Source: Blockworks
At the same time, the network’s tokenized equities hit a record $7.1 billion for the quarter, with September hitting a $4.4 billion all-time high. That is not all as Solana’s network processed about $189 Billion in spot DEX volume. This represented a $7 billion surge of all cross-chain spots from the last quarter.
As per the release report, the network activity also improved in terms of size and speed. Solana processed a record 14.2B transactions, around 1,790 every second.
Source: Blockworks
Can SOL turn adoption into price gains?
On the price charts, SOL’s price action was yet to gain ground at press time. In fact, it had just dropped past the bearish pennant pattern. SOL’s price was still testing the last line of defence, a demand zone between $95 and $100. A break below the demand zone will result in further dips.
Until then, the long-term structure will remain bullish. Especially since the altcoin was trading just above both 100-day and 200-day Exponential Moving Averages.
Source: TradingView
As long as the support is defended by the buyers and demand remains strong, any improvement in the performance of the ecosystem can further solidify the case for a move towards resistance.
Even though there is strong growth in RWA and revenue from applications, that does not mean there will be instant gains. The altcoin needs buying pressure to break above the resistance level.
Final Summary
Solana’s RWA market cap climbed from $700 million to $4.3 billion in one year, narrowing the gap with Ethereum’s tokenized asset market.
Solana applications generated $299 million in reported quarterly revenue.
NFT project Bored Ape Yacht Club (BAYC) has officially launched Mudwater, a Solana-based series of physical and digital collectible trading cards. The project has also airdropped 6551 Totems paired with all BAYC and MAYC NFTs, which are used to claim card packs. Holders of each BAYC NFT can claim 10 packs, while each MAYC NFT entitles holders to 2 packs. Each pack includes 10 cards, each box holds 24 packs, with a total of 10,000 boxes in the series. The collection comprises 120 artworks, with rare variants including flash cards, numbered cards, and ice crack rare cards; 8 of these ice crack cards are 1/1 unique editions. Physical cards are printed by Orange Cap Games using its Orange Core paper. 2.5% of every transaction will be used to purchase APE tokens, distributed proportionally to collectors holding Mudwater series assets. Totems, card packs, and cards are now tradable on OpenSea, with plans to add support for upgrading card packs to full boxes and cases in the future.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Yuga Labs, the company behind Bored Ape Yacht Club, is getting into trading cards. Its new Mudwater collection went live on Solana on October 17, 2026, and BAYC and Mutant Ape Yacht Club holders can now claim packs.
What Mudwater actually is The debut set is called “Swamp Origins.” It includes 120 distinct artworks built around the familiar Bored Ape imagery.
Cards come in four tiers: standard, foil, serialized, and a rare “cracked-ice” edition. At the top sit 8 serialized cracked-ice 1/1 grails, the one-of-a-kind cards that collectors tend to chase hardest.
Each card links a physical collectible to a matching Solana NFT held in a vault, so ownership exists both on the shelf and on the blockchain.
Claims opened at roughly 23:30–23:35 UTC, right after the announcement. The rollout coincided with ApeFest 2026 in Charleston, Yuga’s yearly gathering for its community.
How the claim process works Eligibility runs through something Yuga calls Totems. BAYC and MAYC holders received 6,551 Totems, which are ERC-6551 token-bound accounts. A token-bound account is an NFT that functions as its own wallet, so the Totem acts as the container that receives and manages a holder’s packs.
BAYC holders can claim 10 packs each, while MAYC holders can claim 2. Every pack contains 10 cards. Altogether, more than 140,000 packs are available to claim.
The claim window remains open until January 19, 2027. The total planned supply goes beyond the first wave of claims: Yuga plans for 10,000 boxes, each holding 24 packs.
The ApeCoin twist Mudwater also includes an unusual fee mechanic. A 2.5% reflection on NFT trades automatically purchases ApeCoin ($APE), which then goes out to Mudwater NFT holders in proportion to their holdings.
Trading happens on OpenSea, which carries separate listings for Totems, Packs, and Cards. Secondary-market listings showed up on the platform soon after claims opened.
Why Yuga is doing this A demo of the card gameplay is available in Otherside, and Yuga has said further expansions inside the metaverse are possible. The company also plans to let collectors upgrade packs into boxes and cases, with upgradeable game elements on the roadmap as well.
What this means for holders and the market For BAYC and MAYC owners, the immediate effect is a fresh airdrop with tradable value. The 10-to-2 ratio rewards BAYC holders more generously, which reinforces the pecking order between the two collections.
The 8 cracked-ice 1/1 grails are likely to anchor the high end of the market. More than 140,000 packs are claimable now, and the planned 10,000 boxes point to substantial total volume, so rarity sits mostly in the serialized and cracked-ice tiers.
For ApeCoin, the 2.5% reflection creates buying tied to Mudwater trades, though its scale depends entirely on how actively the cards change hands.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
Solana is rapidly closing the RWA gap with Ethereum as its tokenised market share grows from 4.5% to 26% in one year.
Solana’s on-chain economy is growing beyond meme coins. In fact, a new report suggests that real-world assets (RWAs) are emerging as one of its fastest-growing sectors.
Castle Labs found that Solana’s tokenized RWA market grew by more than 600% over the past year as it rose from $700 million to $4.3 billion. That puts it well ahead of Ethereum, where the tokenized market grew just 7% over the same period, from $15.5 billion to $16.6 billion.
For context, Solana’s RWA market was only 4.5% of Ethereum’s size a year ago. It now stands at 26%.
Solana’s Onchain Economy The growth comes as Solana builds out its DeFi ecosystem and attracts more assets beyond speculative trading. The network now offers access to US Treasury debt, asset-backed credit, tokenized stocks, commodities, and curated investment strategies. Tokenized stocks, for one, have been a major part of this expansion. Their market value on Solana jumped from $63 million to $455 million.
The report said more than $65 million in tokenized equities on the chain are being used to earn yield. Much of this activity is driven by xStocks, whose assets can be used as collateral on lending platforms such as Kamino and Jupiter Lend. This gives holders more options than simply buying and holding tokenized shares.
Castle Labs said that the same trend was seen across other RWA categories. Ondo-related reinsurance exposure is available through ONyc from OnRe, while Hastra offers PRIME and AUTO, backed by home and consumer auto loans. Maple Finance has also expanded to Solana with syrupUSDC. These products are bringing yield-bearing assets into the network and creating new opportunities for lenders and borrowers.
DeFi Ecosystem Gains Momentum The RWA expansion is also helping support Solana’s wider DeFi growth. Lending protocols can use tokenized assets as collateral, while users can borrow against them and put their capital to work elsewhere. As more assets arrive, that activity can create additional demand for lending and borrowing, Castle Labs explained.
You may also like: Solana Network Growth Jumps 124%: Here’s Why It Could Matter for SOL 82 Million Samsung Galaxy Devices Could Soon Get Native Solana Stablecoin Transfers Tokenized Stocks Surge 395% in a Year, But DeFi Adoption Remains Surprisingly Low Additionally, Solana has become a major force in onchain application revenue. It generated over $193 million over the past 30 days. This figure, interestingly, is nearly twice Hyperliquid’s $86.5 million. Consumer applications still account for around 80% of that revenue. Launchpads, trading terminals, wallets, and other platforms have contributed to the total.
OnRe Finance's reinsurance-backed ONyc asset is expanding beyond Solana to Monad and other EVM networks through the new nONYC wrapper built with Plume Vaults.
OnRe Finance's reinsurance-backed yield asset, ONyc, is expanding to Monad. Until now, the asset from @onrefinance has been available only on @Solana. A new version, nONyc, packages it through @plumenetwork Vaults and is designed to bring it to other EVM networks, with @Monad the first named destination.
ONyc already has more than $225M deployed across Solana DeFi, according to OnRe, which makes Solana the asset's main market so far.
What nONYC changesAccording to Crypto Economy, the integration will initially bring ONyc to Monad and Ethereum. The aim is to make its yield accessible across more networks without separate infrastructure for each one. Plume's vault infrastructure is already used to distribute products linked to private credit, Treasury securities, fixed income and emerging-market debt, the outlet reported.
That gives users on EVM-compatible chains access to a product whose primary market was previously Solana. For Monad, it adds another real-world asset (RWA) option to an ecosystem that is building out yield products. CoinMarketCap's Monad news feed notes that Plume Vaults went live on Monad mainnet on 10 October 2026, offering tokenized assets such as US Treasuries.
How ONyc generates yieldONyc is tied to reinsurance rather than token incentives. Crypto Economy reports that its returns come from insurance underwriting premiums and the collateral used in those operations. OnRe is a Bermuda-licensed reinsurer. Solana Compass reports that it holds an Innovative Insurer General Business license and a Class F Digital Asset Business Act license from the Bermuda Monetary Authority. It buys risk from primary insurers looking to offload exposure to catastrophe events such as hurricanes and earthquakes.
OnRe says ONyc is the largest real-world asset on Solana by DeFi active TVL, accounting for nearly 45% of active RWA capital on the network, according to the company's resources page. Yields vary over time. OnRe's own site has shown figures around 11%, while RWA.xyz lists a total asset value of about $292M for ONyc as of 13 October 2026.
Wider distribution does not guarantee demand. Liquidity and real usage on the new chains will determine whether the EVM expansion adds meaningfully to ONyc's current base on $SOL.
Meteora, the Solana-based liquidity protocol and AMM, has reported $51.8M in protocol fees over the past month, ahead of the fees earned by the Solana network itself.
Meteora, the @Solana-based decentralized liquidity protocol and automated market maker (AMM), has generated $51.8M in protocol fees over the past month. The figure puts @MeteoraAG ahead of several better-known DeFi platforms on a fee basis, and above the network fees collected by $SOL itself.
What the fee numbers showFee rankings on DefiLlama list Meteora as a DEX that aggregates swap fees across several products. A cached version of the DefiLlama fee rankings shows , compared with That snapshot is dated, so readers should check the live dashboard for current figures.
It is worth separating fees from revenue. In DefiLlama's methodology, fees are the total swap fees paid by traders, while revenue is the portion retained by the protocol. On the main Meteora dashboard, DefiLlama recorded Most of the fee total therefore goes to liquidity providers rather than to Meteora itself. According to Coin Bureau,
How Meteora earns its feesMeteora functions as liquidity infrastructure for Solana. Its Dynamic Liquidity Market Maker (DLMM) is central to that model. Solana Compass notes that
Fee generation has been volatile over time. Solana Compass reports that More recently, a Solana Compass report on Meteora's first-half 2026 community call said That suggests the protocol's income depends on broader Solana token trading, not only launch-day activity.
Fee leadership does not guarantee token performance. Meteora's governance and staking token is $MET, and its value depends on how much of the fee flow reaches the protocol and token holders. As with any DeFi fee ranking, the numbers can shift quickly with memecoin trading volume and market conditions.
Sources:
DefiLlama: Protocol Fees RankingsDefiLlama: Meteora TVL, Fees, Revenue and VolumeSolana Compass: Meteora H1 2026 Community Call
Solana shows resilience, but some areas need continued observation, Fidelity saysSolana has had no reported mainnet outages in two years, but concentrations in stake, hosting and client software should be monitored, according to a report.
Solana has made significant progress in terms of network health across resilience, economic security and performance indicators, according to a Fidelity report.
Solana has had no reported mainnet outages in two years, but concentrations in stake, hosting and client software could threaten this, according to the report by Fidelity’s Center for Applied Technology (FCAT).
The report said economic security was supported by substantial staking participation and incentives that reward validator performance. Low latency, expanded capacity and inexpensive transactions also support practical use at scale.
Still, it noted that several areas surrounding decentralization and resilience warrant continued observation, including stake concentrates among a small number of validator identities and operators.
Cointelegraph reported on Aug. 21 that Solana had reduced its slot time to 350 milliseconds, marking the first such reduction since the inception of the network, according to the Solana Foundation’s vice president of technology, Jacob Creech.
In June, the Solana Foundation shared plans to reduce slot times to 200ms, arguing that it would improve latency and accelerate confirmations on the blockchain network. Three further 50ms reductions are planned.
Magazine: France is world’s most dangerous place for Bitcoiners: 90 attacks in 7 months
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.
Solana shows resilience, but some areas need continued observation, Fidelity saysSolana has had no reported mainnet outages in two years, but concentrations in stake, hosting and client software should be monitored, according to a report.
Solana has made significant progress in terms of network health across resilience, economic security and performance indicators, according to a Fidelity report.
Solana has had no reported mainnet outages in two years, but concentrations in stake, hosting and client software could threaten this, according to the report by Fidelity’s Center for Applied Technology (FCAT).
The report said economic security was supported by substantial staking participation and incentives that reward validator performance. Low latency, expanded capacity and inexpensive transactions also support practical use at scale.
Still, it noted that several areas surrounding decentralization and resilience warrant continued observation, including stake concentrates among a small number of validator identities and operators.
Cointelegraph reported on Aug. 21 that Solana had reduced its slot time to 350 milliseconds, marking the first such reduction since the inception of the network, according to the Solana Foundation’s vice president of technology, Jacob Creech.
In June, the Solana Foundation shared plans to reduce slot times to 200ms, arguing that it would improve latency and accelerate confirmations on the blockchain network. Three further 50ms reductions are planned.
Magazine: France is world’s most dangerous place for Bitcoiners: 90 attacks in 7 months
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.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Solana has gone more than two years without a major mainnet outage, according to a new report from Fidelity’s Center for Applied Technology (FCAT).
The report also points to the weak spots. A small group of validators, one hosting provider and two European cities hold an outsized share of the network’s stake.
The report is titled “The State of Solana: Network Health and Resilience.” It was written by Mia Galvin and Kevin Kelly and published on October 16, 2026.
The uptime case
The headline figure is uptime. FCAT says Solana has not had a major mainnet outage since February 6, 2024.
The report puts Solana’s vote success rate at approximately 99.7% in 2026. Validators vote to confirm blocks, so this measures how often those votes land.
The network has also added capacity by shortening its slot times. Slots are the short windows in which validators produce blocks. Shorter slots let the chain handle more transactions, which matters as usage grows.
Where the money is moving
Tokenized real-world assets (RWAs) on Solana grew from about $1 billion to $4.4 billion year over year, according to FCAT. These are traditional assets, such as funds or debt, represented as tokens onchain.
Stablecoin activity has grown even faster. The report says Solana processed more than $2 trillion in stablecoin volume in the first quarter of 2026 alone.
The report is also notable for who wrote it. Fidelity is one of the largest asset managers in traditional finance.
The concentration problem
About 18 validators together control enough stake to halt finality, FCAT reports, citing third-quarter 2026 data. Finality is the point at which a transaction is settled and cannot be reversed.
Halting finality takes one-third of stake. If that bloc went offline or acted together, transactions could stop settling.
Hosting is the second concern. A single hosting provider controls nearly 29% of total stake, according to the report.
FCAT notes that this exceeds acceptable limits set by the Solana Foundation.
Geography is the third issue. Roughly 40% of stake sits in Frankfurt and Amsterdam.
Client software makes up the fourth area. About 63% of stake runs Jito-Solana and about 26% runs Harmonic, the report says.
FCAT notes that both are linked to the dominant Agave codebase. A flaw in common underlying code could affect most of the network at once, whatever the client is called.
Why validator counts don’t tell the whole story
FCAT’s main argument is about method. The authors say network health should be judged by more than the number of validators. The report recommends watching stake distribution, geographic spread and client diversity together.
What this means for Solana and its users
FCAT warns that concentration factors could create systemic risk under heavy transaction load.
The hosting figure may be the easiest to track. With one provider near 29% of stake and above the Solana Foundation’s own limits, the question is whether stake moves elsewhere and how quickly.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Solana Price fell 1.83% to $104.53 over 24 hours ahead of the October 21 Alpenglow launch.
The entire crypto market was down 1.2%, to 2.73 trillion under the strain of interest rate issues. Bitcoin price was trading around $81,000, Ethereum around $2,425, and XRP under $1.30, with markets under selling pressure.
Solana’s Alpenglow Upgrade Targets 150ms Finality Ahead of October 21 Launch
Solana is scheduled to activate Alpenglow on October 21, 2026, targeting transaction finality of approximately 150 milliseconds. According to the Solana Foundation, the consensus upgrade will help reduce the current finality benchmark of the network, which is 12.8 seconds.
This is about 85 times faster in finality, according to the published figures. Finality is when a transaction is irreversible and users can be more certain that money has been settled.
One of $SOL’s biggest upgrades EVER is less than one week out.
Alpenglow goes live on Oct. 21, reducing transaction finality from ~12.8 seconds to just 150 milliseconds.
That’s ~85x faster finality and as fast as @Visa. 👀 https://t.co/8xvOqmBzEi
— DeFi Dev Corp. (DFDV) (@defidevcorp) October 16, 2026
Alpenglow is a replacement of TowerBFT, which is the system that system validators would use to reach consensus on transactions and complete blocks. Its Votor protocol also allows validators to directly exchange votes and pool them into certificates. This enables blocks to achieve finality one or two rounds of voting.
To users, the change would reduce the delays in the confirmation of payment and retain familiar wallet interactions. According to the Foundation, users will be able to keep signing and sending transactions via their current wallets and applications.
A different metric compared with time between new blocks is the 150-millisecond target, which is the finality of transactions. Real performance is yet to be proved on mainnet, where the upgrade is yet to be activated.
Solana ETFs Record $12.67 Million in Outflows, All From Bitwise’s BSOL
According to SoSoValue, Solana ETFs had net outflows of 12.67 million on October 16.
BSOL of Bitwise reflected all the withdrawal whereas six other listed funds did not record any net flows.
Source: Sosovalue data
The volume of trade was of 90.03 million, with total net assets of $1.62 billion.
The cumulative net inflows were at $1.56 billion and assets were at 2.64% of the market capitalization of Solana.
Solana Price Prediction: Can SOL Break $105 and Target $110?
As of the report, the SOL price stands at $103.98, down 0.66% during the displayed four-hour candle.
The relative strength index is 42.24, which is less than its moving average of 42 and its neutral 50 mark.
In the meantime, the moving average convergence divergence measure demonstrates a slight positive change despite the general decrease in the price. The MACD line is at -0.90, which is higher than its signal line at -1.06, and the histogram is at 0.16.
Source: Tradingview
A four-hour close above $105 would provide the recovery situation with strength and focus on $110. A recovery of $110 would then reveal $115, which is close to a previous price response zone as per detailed Solana price analysis.
On the negative side, the most evident support level indicated on the provided chart is still at $100. The four-hour close below that may reveal the exposure to $97 and then the round number of 95.
These downside targets will be based on a verified support breach, and possession of $100 would keep the chance of a new recovery in place.
This is an excerpt from CoinDesk's new ‘Tokenization Weekly’ newsletter that will be launching soon. Sign-up details will be here when it goes live.
Crypto enthusiasts have spent years telling that finance – stocks, bonds and other financial assets – would eventually move onto blockchains.
Now, an influential research firm that Wall Street investors pay attention to has made the case for them.
Citrini Research, better known for its work on broader technology, AI and market trends than for cheerleading crypto, turned its attention last week to tokenization in a 79-page report titled Breaking the Wall.
The report itself isn't news anymore, but the argument behind it is worth sitting with because it marks how far the conversation has moved.
For years, crypto built increasingly sophisticated infrastructure for trading, lending and moving money, while most of the assets investors actually wanted to own — stocks, bonds, credit and commodities — stayed inside the traditional financial system. Now those assets are beginning to migrate onto the rails crypto spent more than a decade building.
Citrini summed it up in one line:
“Blockchains have finally found their raison d’être.”
Why it mattersFor better or worse, one of the oldest knocks on crypto and blockchains was that it looked like a solution in search of a problem.
There were decentralized exchanges, automated lending protocols, crypto wallets and increasingly elaborate financial plumbing, but if all of it was mainly being used to trade one cryptocurrency against other cryptocurrency, the obvious question remained: what was the infrastructure actually built for?
Tokenization may finally provide a convincing answer.
U.S. Treasuries, credit, stocks, funds and other assets are increasingly moving onchain, and once they are there, the point isn't simply that an investor can trade Nvidia at 2 a.m on a Sunday.
The more interesting argument Citrini made is that tokenization can make financial assets behave more like software: moving between applications, serving as collateral, being borrowed against or plugged into other financial products without each platform rebuilding custody and settlement from scratch.
Those pieces are also starting to come together. Stablecoins put cash onchain. Wallets, exchanges and DeFi protocols have matured. Retail-facing trading platforms like Robinhood (HOOD), Coinbase (COIN) and others bring distribution. And regulators – in the U.S. and around the globe – are beginning to give tokenized securities a clearer path into markets.
Why this is a big dealCitrini isn't discovering tokenization. Crypto-native investors have talked about real-world assets (RWA) for years.
What's different is seeing a widely followed research shop outside the crypto bubble translate the thesis into the language that large investors care about most: where do you actually make money?
That isn't as obvious as it sounds.
Citrini argued that tokenization could lift the broader crypto ecosystem, but more assets moving onchain doesn't automatically make bitcoin BTC$81,557.87, ether ETH$2,383.19 or whichever blockchain hosts them the best trade.
Arthur Hayes, BitMEX's co-founder and the chief investment officer of Maelstrom, framed that problem more bluntly.
RWA tokenization has been talked about for a decade, he said in a recent interview with The Rollup, and simply taking a security that already sits in a digital database and recording it somewhere else doesn't necessarily create much value.
“Okay, doing better bookkeeping. Thank you,” Hayes said. “Where are you actually going to make money in tokenization?”
There are several possible answers.
Tokenized stocks can generate issuance fees, trading revenue, stablecoin demand, lending activity and collateral usage, but those economics can land in very different places.
Christian Magoon, CEO of Amplify ETFs, which runs the tokenization-focused TKNQ fund, thinks infrastructure providers could become “toll booths on the blockchain toll roads,” while distribution may be just as valuable: Coinbase, Robinhood, banks and wealth platforms who already have the customer relationships.
Jeff Dorman, CIO of investment firm Arca, told CoinDesk he expects the actual tokenization process to become increasingly commoditized as competition grows.
The stickier economics, he said, emerge after an asset is onchain: when it starts trading, being lent out or serving as collateral to borrow. That's why he sees potential beneficiaries ranging from Securitize (SECZ) to crypto protocols such as blockchain-based trading venue Hyperliquid, decentralized lender Aave AAVE$152.75 and decentralized exchange Aerodrome (AERO).
Zach Pandl, head of digital asset research at Grayscale, told CoinDesk the simpler bet may be the networks underneath all of it.
"The most direct way to position a portfolio for the tokenization megatrend is to own the networks that host RWAs and process transactions," he said. "The industry leaders today are Ethereum ETH$2,383.19, BNB Chain BNB$713.94, and Solana (SOL)"
Other networks could carve out different roles. Avalanche (AVAX) and Canton CC$0.1032, for example, have taken more institutionally focused approaches to handling tokenized assets and could see increasing demand as banks and asset managers move more activity onchain, he said.
And that's where Hayes sees an even bigger story that could make tokenization much more than better bookkeeping: AI agents running financial services.
“I think the best story I want to tell is that AI agents will run all of your financial services,” Hayes said.
Think of software continuously rebalancing your portfolio, moving idle cash toward higher yields, finding a cheaper loan or shifting collateral as market conditions change. Those agents would need money and investments they can access programmatically, around the clock, without a human clicking through each transaction.
That happens to look a lot like the infrastructure crypto has spent years building: programmable assets, always-on markets, smart-contract lending and near-instant settlement.
Citrini landed on a similar argument, saying tokenized assets effectively translate financial products into a machine-native format that AI agents can work with.
Still, there is plenty of room for those winners to change. Amplify’s Magoon stressed that the market remains “extremely early,” with tokenized assets still tiny compared with global financial markets.
“The long runway ahead increases the likelihood that future winners may differ from today's leaders,” he said.
Sources: AI product for institutional on-chain asset management to launch in the coming days.
Crypto podcast host Andy (@andyyy) teased in a post that a major AI product or feature will launch in the coming days, targeting institutional on-chain asset management with built-in risk strategies. The product has reportedly run pilots with several funds and asset management institutions. Andy previously accurately predicted the SEC’s crypto exemption policy a week in advance.
7 hours ago
The Roadster's stunning debut earned congratulations from Sam Altman, Elon Musk's long-time rival, who responded calmly.
Tesla's next-generation Roadster made its debut yesterday, with the vehicle performing stunts including inverted climbing, mid-air flips, and jumping over cars during a demo, leveraging SpaceX's cold gas propulsion and underbody suction system. It accelerated from 0 to 60 mph in under 1 second, drawing widespread attention. OpenAI CEO Sam Altman immediately posted on X to congratulate: "The new Roadster looks absolutely stunning, well done Musk." As long-time public rivals, the community was quite surprised by Altman's comment. In response, Musk did not offer a warm direct thanks; instead, in the related discussion thread, he replied "Indeed" to jokes about whether he had canceled Altman's prior canceled order, with a restrained yet teasing tone. The two had prior public disputes over the Roadster. At the end of 2025, Altman posted that he had reserved the vehicle for nearly 7.5 years without delivery, requesting a refund of around $50,000 in deposits, and shared relevant emails. Musk responded that the refund was actually processed quickly, while bringing up OpenAI-related controversies again. This congratulatory post and Musk's calm response have reignited public speculation about the pair's relationship, though their core conflicts have not been resolved.
7 hours ago
AI stock guru Leopold’s fund is set to disclose its third-quarter (Q3) holdings on November 16, after suffering a 67% monthly drawdown due to the sharp plunge in AI stocks.
AI stock guru Leopold’s fund Situational Awareness will disclose its third-quarter stock holdings on November 16. The fund reportedly posted a 439% return in the first half of this year, with major bets on SanDisk (SNDK) and Micron (MU), and used around 4x leverage. However, a sharp slump in AI-related stocks in July caused its portfolio to drop roughly 67% in a single month. Subsequently, the fund sold most of its public stock positions, a significant portion of which was acquired by Citadel.
7 hours ago
Elon Musk: The only way to resolve the U.S. debt crisis is AI and robots.
Elon Musk stated that the government efficiency department (DOGE) reform he led ultimately came to nothing, proving "we simply cannot solve the fiscal deficit problem from within the government at all." Musk emphasized that "the only way to address the U.S. national debt is through artificial intelligence and robots," adding that "austerity measures alone cannot fix this problem." His remarks effectively acknowledge that the DOGE reform failed to meet expectations, while also suggesting a future administration could leverage increasingly capable AI to attempt resolving the issue again. Musk noted that neither the president, the House of Representatives, the Senate, nor the judiciary has the willingness to cut spending. He admitted he "went too far in some respects," having spent too much time away from his companies. "I should have stayed more behind the scenes... and this effort could have lasted just one or two months, rather than the four months I actually spent formally serving at the White House. I should have returned earlier to refocus on artificial intelligence," he said. (AXIOS)
7 hours ago
The largest long position holder of STRK has an unrealized loss of $1.01 million.
Hyperliquid’s STRK contract is currently trading at $0.0665, down approximately 13% from the prior day’s reference price. Two whale addresses holding STRK long positions have incurred large unrealized and liquidation losses respectively. The largest STRK long address, 0xd978…2fd9, holds around 64.2 million STRK in long positions, with a position value of roughly $4.25 million, using 5x cross leverage, and currently has an unrealized loss of about $1.019 million, resulting in a position return of approximately -96%. Separately, the STRK long positions of address 0x3392…d367 were liquidated tonight: around 21.36 million tokens were forcibly closed, valued at ~$1.466 million, with a realized loss of ~$207,000. The address subsequently opened ~4.79 million new STRK long positions, with a latest position value of ~$319,000, using 5x isolated leverage, and a liquidation price of ~$0.059.
7 hours ago
UNCX discloses cross-chain attack on Smart Token Vesting V2, resulting in approximately $807,600 in losses.
According to an official incident report from UNCX Network, on October 14, attackers exploited a set of public vesting operations of Smart Token Vesting V2 to create a mismatch between the pool’s token balance and recorded shares, enabling controlled positions to withdraw excess tokens. The attack impacted four blockchains: Ethereum, BNB Chain, Base, and Robinhood, involving 10 tokens, with 11 confirmed withdrawal transactions. The verified economic value totals approximately $807,600, of which BNB Chain accounts for about $567,500. All involved contract calls did not utilize administrator privileges. Post-incident, white hats have returned 82,143,500 X tokens and 23.8682 ETH, with no major tokens remaining to be disposed of at this time.
Solana has steadied near $105 after testing the $100 area identified in the previous analysis. The more important question now is whether the rebound can recover $109.4–$109.7 - the moving-average and Fibonacci cluster lost during the breakdown.
SOL traded at $105 on October 17 at 07:41 UTC, up 0.66% on its open daily candle. The session ranged from $103.9 to $105.1, leaving the token about 16% below the measured rally high of $124.9.
Chart in one sentence: $100 has held for now, but SOL has not repaired the breakdown until it first recovers $109.7 and then reclaims the former rising channel floor above it.
The earlier $100 objective has been tested
Our previous Solana analysis, published on October 13, identified the loss of the ascending channel and support near $109 as reasons to watch the $100 area. That reading recorded an intraday low of $101.7, just above the 38.2% Fibonacci retracement near $100.2.
Solana remains below its recovery hurdles.
The updated chart shows another lower wick extending closer to the same retracement before SOL moved back toward $105.
For now, SOL is holding above the latest low rather than directly retesting $100 in the current session. The overlap still gives the area weight: $100 is a widely watched round number, while $100.2 marks the 38.2% retracement of the preceding advance. Recent lower wicks show buyers responding after intraday weakness, but not how much demand would remain if price returns again.
The rebound has two barriers, not one
The first sits at $109.4-$109.7, where the 50-day simple moving average and the 23.6% Fibonacci retracement nearly overlap. A daily close above that narrow cluster would return SOL above both a short-term trend reference and a shallow retracement level.
That would improve the recovery, but it would not fully restore the former uptrend. The lower boundary of the broken ascending channel slopes upward and now sits above the horizontal $109.4-$109.7 area. SOL would need to reclaim that boundary separately to move back inside the channel that guided its earlier advance.
In plain terms, recovering $109.7 would show that buyers have retaken nearby resistance. Recovering the channel floor afterward would show that the broader rising structure has been repaired. Until both happen, the bounce can still fade within the correction.
If SOL clears those hurdles, the $115-$120 area becomes the next trading range to watch. The measured rally peak near $124.9 remains the higher resistance reference.
SOL’s decision map
Price area
Why it matters
What it would signal
$115-$120
Former trading area above the broken channel floor
A stronger recovery after the nearer barriers are reclaimed
$109.4-$109.7
50-day SMA and 23.6% Fibonacci retracement
First evidence that the rebound is regaining ground
$100-$100.2
Round number and 38.2% Fibonacci retracement
The current pivot between stabilization and deeper weakness
$92.59-$94.50
50% retracement and rising 100-day SMA
First lower support range if $100 fails
$84.95-$87.47
61.8% retracement and 200-day SMA
Deeper support references if the correction extends
If $100 fails, the longer averages move into focus
A daily close below $100–$100.22, followed by an unsuccessful attempt to recover the band, would weaken the case that SOL is stabilizing around its current range. Attention would then turn to the rising 100-day SMA at $94.50 and the 50% Fibonacci retracement at $92.59.
Those levels are close enough to form a support range roughly $1.90 wide, but they are not the same level. A move below $94.50 could still find a response near $92.59; a sustained decline through both would provide stronger evidence that the correction is broadening.
The next lower references are the 200-day SMA at $87.47 and the 61.8% Fibonacci retracement at $84.95. The chart can identify the levels where price may react, but it cannot show how much demand is waiting there or guarantee that either will hold.
The 100-day and 200-day averages are still rising beneath SOL, while the 50-day remains above both. That ordering reflects the preceding advance. SOL trading below the 50-day average, however, shows that the shorter-term trend has deteriorated first.
Momentum has not caught up with the price bounce
The daily relative strength index, or RSI, reads 40.06, below the neutral midpoint of 50 and its smoothing line near 47.22. That is consistent with weaker momentum after the channel break. RSI remains above the conventional oversold threshold of 30, and the chart does not show a clear bullish divergence that would confirm a reversal.
An RSI move back above 50 would be more meaningful if it occurred alongside a daily close above $109.67. On its own, a small improvement in the indicator would not resolve the price resistance overhead.
What bulls need
SOL needs a daily close above $109.4-$109.7, followed by a successful retest of that cluster as support. Reclaiming the rising channel boundary afterward would strengthen the case for a move toward $115-$120.
What would weaken the bounce
A close below $100 followed by a failed recovery would shift the focus to $94.50-$92.59. Only if that entire range gives way would $87.47-$84.95 become the next lower chart area.
This article is provided for informational purposes only and does not constitute financial or investment advice. Technical levels and indicators are interpretive tools, not guarantees of future price movement.
Author
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else.
It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other.
What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn?
He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
TLDR: Solana averaged over 1,400 TPS year-to-date, far exceeding BNB Chain and other blockchain networks. Grayscale expects Alpenglow to reduce Solana’s transaction finality from 13 seconds to 150 milliseconds. SOL trades near $105, with analyst Don identifying $80-$95 as the key support zone. Don sees $166 and $378 as potential upside targets if SOL reclaims its descending trendline. Solana is trading near $105 as traders watch a key support zone and an upcoming network upgrade. Grayscale says Solana averaged more than 1,400 transactions per second year-to-date, far exceeding competing blockchain networks.
The firm expects the Alpenglow upgrade next week to reduce transaction finality from roughly 13 seconds to 150 milliseconds. Meanwhile, crypto trader Don identifies 80–95 as a crucial support zone for SOL, with potential upside targets at $166 and $378.
How Could Solana’s Alpenglow Upgrade Change Network Performance? Solana’s transaction throughput remains a central part of its competitive position.
Grayscale reports that the network averaged more than 1,400 transactions per second year-to-date. BNB Chain averaged fewer than 200 TPS, while other blockchain networks processed approximately 40 TPS.
Transaction throughput measures how many transactions a network processes within a second. Higher throughput can help blockchains handle more activity, although actual performance also depends on network conditions and transaction demand.
Solana ($SOL) is in a league of its own.
Averaging 1,400 transactions per second versus just 40 TPS across other blockchain networks, its lead over rivals is only set to expand. Next week's consensus upgrade is expected to drop transaction finality to just 150 milliseconds.… pic.twitter.com/ujpnLuaUJV
— Grayscale (@Grayscale) October 16, 2026
Grayscale also highlights Solana’s transaction costs.
Fees have averaged approximately $0.005 this year, making transactions relatively inexpensive for users. The network currently reaches transaction finality in roughly 13 seconds.
Finality indicates when a transaction is considered irreversible under a blockchain’s consensus rules.
The planned Alpenglow upgrade is expected to reduce that period to 150 milliseconds. This would represent a substantial reduction in the time users wait for transaction confirmation.
However, the upgrade’s expected performance gains should remain distinct from Solana’s current capabilities. The 150-millisecond figure is a projected outcome, not the network’s existing finality time.
Grayscale also points to Solana’s activity in stablecoin payments.
Over the past three months, the network processed approximately 25% of all stablecoin transactions. That share exceeded every other blockchain during the period.
Faster finality and low fees could support payment applications that require rapid settlement. They may also help developers build applications where transaction costs and confirmation times influence user experience.
What SOL’s $80-$95 Support Zone Means for Traders SOL’s technical structure presents a separate question for traders.
Don says the token remains near $105 after facing rejection at a descending trendline. The analyst also notes that SOL has stabilized above $100 without retesting the lower support zone.
$SOL → holding $105 after the rejection at the dashed trendline
no zone retest yet, price stabilizing above $100
zone at $80 to $95 still the support
yellow ascending line from 2023 below it
reclaim the dashed line → $166 then $378
lose the zone → setup invalidated pic.twitter.com/ucA6uFIAhR
— Don 🐂 (@DonWedge) October 17, 2026
According to Don, the $80-$95 region remains the key support area.
A yellow ascending trendline extending from 2023 lows provides additional long-term chart context. Together, these levels define the area traders may monitor during potential pullbacks.
Don’s bullish scenario depends on SOL reclaiming the descending trendline. If that happens, the analyst identifies $166 and $378 as potential upside targets. These are conditional chart targets, not guaranteed price outcomes.
The opposite scenario would weaken the setup. Don says a move below the $80-$95 support zone would invalidate the bullish structure. Traders watching this setup therefore have two reference points: trendline resistance above and support below.
CoinGecko’s latest figures show SOL trading at $104.84, with $2.66 billion in 24-hour trading volume. The token has fallen 1.29% over 24 hours and 4.41% over seven days.
SOL price on CoinGecko For investors, Solana’s network performance and SOL’s price structure represent different measures of the ecosystem. Higher throughput and cheaper transactions may support adoption, but they do not guarantee token appreciation.
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Solana maintains a price near $105 as traders observe a key support area and anticipate a significant network improvement. Grayscale, a major digital asset manager, reported that Solana processed an average of over 1,400 transactions per second (TPS) so far this year, surpassing other leading blockchain networks by a wide margin.
Alpenglow upgrade seeks to boost speedThe upcoming Alpenglow upgrade is expected to be a major step for Solana, aimed at reducing transaction finality time from around 13 seconds to 150 milliseconds. Grayscale stated that this performance leap could strengthen Solana’s advantage in transaction speeds over competitors like BNB Chain and other blockchains.
According to Grayscale, BNB Chain averaged under 200 TPS in the year to date, while other blockchains handled about 40 TPS. High throughput has been central to Solana’s value proposition by enabling it to process a significantly higher volume of transactions at speed.
NetworkAverage TPSTransaction Finality (current)Projected Finality (Alpenglow)Solana1,400+13 seconds150 millisecondsBNB Chain<200VariesN/AOther blockchains~40VariesN/ATransaction throughput refers to the number of transactions a blockchain can process per second. Increased throughput can help blockchains support a higher volume of user activity, but actual results depend on network demand and technical conditions.
Solana’s average transaction fee this year has been around $0.005, contributing to the network’s appeal for users who prioritize low-cost transactions.
Finality is the point at which a transaction becomes irreversible on the blockchain. The anticipated reduction to 150 milliseconds through the Alpenglow upgrade would significantly shorten the time users wait for confirmation, though this speed has not yet been achieved and represents a target following the upgrade.
Grayscale indicated that Solana’s Alpenglow upgrade may reduce finality to 150 milliseconds, setting a new benchmark for blockchain speed.
Grayscale also observed strong activity in Solana’s stablecoin payments sector, with the network processing approximately 25% of all stablecoin transactions over the past three months. This market share exceeded that of any other blockchain network in the same period.
Improvements in speed and low costs could support payment applications or services requiring rapid settlement and minimal fees, potentially making Solana attractive to both users and developers.
Mini dictionary: Grayscale, a US-based digital asset investment company, manages several large cryptocurrency funds and regularly publishes industry research.
$80–$95 support zone under scrutinyTechnical traders are monitoring SOL’s price action closely. Don, a well-known crypto analyst, noted that SOL recently stabilized above $100 after experiencing resistance at a descending trendline. He views the $80-$95 region as a crucial support zone for the asset, with price maintaining strength above this area indicating potential resilience.
A long-term ascending trendline from 2023 offers additional context, marking an area to watch for possible pullbacks. Don suggests that holders should monitor breaks above or below these levels for indications of the market’s next move.
If SOL moves above the descending trendline, Don identifies $166 and $378 as potential upside targets. A drop below $80-$95 would weaken the bullish outlook.
SOL’s price is currently trading at $104.84, according to CoinGecko, with a 24-hour trading volume of $2.66 billion. Over the past 24 hours, the token has declined 1.29%, and it is down 4.41% on the week.
While robust network performance can encourage adoption, analysts noted that network activity alone does not guarantee future price appreciation for SOL. Investors typically scrutinize both technical structure and network fundamentals when assessing the asset’s outlook.
According to Qichacha, Shanghai Solana Enterprise Management Co., Ltd. was registered in June this year with a registered capital of 5 million yuan. Claire Du (Du Yanjing), co-head of Solana China, serves as its legal representative. Separately, Shanghai Yaokun Qiusuo Digital Technology Co., Ltd. was established in August this year with a registered capital of 10 million yuan, with Shanghai Solana Enterprise Management holding a 45% stake in the latter. Even Jiang (Jiang Yiwen), co-head of Solana Foundation’s China region, is chairman of Yaokun Qiusuo, while Du Yanjing acts as a director. Public information indicates Yaokun Qiusuo’s core business includes technical services, development, consulting, exchange, transfer and promotion; computer system services; information system integration services; information technology consulting; data processing services; internet data services; IoT technology services; wholesale of computer software, hardware and auxiliary equipment; information consulting services (excluding licensed services); enterprise management consulting; financial consulting; and conference and exhibition services (overseas exhibitions require approval from relevant authorities). It should be noted that "Solana" is a name adopted by a sole proprietorship, and there is currently no equity evidence linking the two companies to the Solana Foundation. This week, Solana team members shared photos announcing the opening of an office in Shanghai, China.
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Bank custody, stablecoin payments and Bitcoin retirement accounts feature in today’s crypto developments, alongside a last-minute change to Solana’s Shanghai event. This roundup covers announcements and new disclosures from October 16, 2026.
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Changpeng Zhao wants one thing on the record: he did not get Solana’s Shanghai ad pulled.
The Binance founder said on X that the advertisement on the city’s Bund came down within 10 minutes of appearing. He says that happened before he had even seen it. His post praising Solana followed later.
A celebration, then a crackdown
On October 15, 2026, CZ publicly applauded Solana’s new Shanghai office and its skyline advertising in the city. He framed the move as a meaningful step forward for the blockchain industry as a whole. He also set it against what BNB Chain had accomplished, a notable gesture of goodwill toward a rival ecosystem.
On October 16, 2026, Solana’s Accelerate China event at the Shangri-La hotel in Shanghai was postponed after police showed up. Attendees reported being kept outside the venue for more than an hour.
Organizers attributed the delay to “last-minute logistical considerations.” They did not elaborate on what, if anything, had passed between them and the authorities.
Speculation filled the gap. The theory making the rounds was simple: CZ’s high-profile praise had drawn the attention of regulators. In that telling, his post triggered scrutiny that led to the ad on the Bund being taken down just 10 minutes after it went up.
CZ’s version of the timeline
CZ rejected that account directly. His argument rests on sequencing.
By his account, the ad was already gone within 10 minutes of being displayed. He says he did not see it until much later. According to the research timeline, his social media post came 12 to 24 hours after the ad was removed.
CZ also pointed to China’s strict real-time content monitoring. His point was that the ad’s rapid removal fits a system built to catch this kind of material quickly, with or without a nudge from a celebrity founder on X.
China’s long, complicated relationship with crypto
China has kept its ban on crypto trading in place since 2021. At the same time, the country continues to allow blockchain development.
This is also not Solana’s first rough experience in mainland China. The postponement marked the second time in a year that a Solana event in the country was disrupted. The earlier incident took place in Shenzhen in 2025.
What this means for Solana and foreign crypto projects
For Solana, the immediate cost is reputational and logistical. A postponed flagship event and a vanished billboard are not the launch most teams envision for a new office.
CZ’s role here is interesting on its own terms. He offered public support to a competing chain, then had to spend time explaining that the support did not backfire.
The near-term reality is a canceled ad and a delayed conference.
What to watch next is fairly straightforward. Will Solana reschedule Accelerate China, and under what terms? Will organizers say more about what the authorities raised?
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
