HomeCryptoMARKETSSBI Holdings and Solana Foundation launch a collaboration to build onchain finance in Japan, covering stablecoins, tokenized assets, and cross-border settlement.
Japan's SBI Holdings and the Solana Foundation are teaming up to build an onchain financial market from Japan, a move both organizations are framing as a landmark step for digital finance, not just in Japan, but globally.
SBI Holdings and the Solana Foundation announced the strategic collaboration on July 13, 2026.
As part of the collaborayiom, SBI R3 Japan Co., Ltd. plans to change its trade name to SBI Solana Global Co., Ltd. (a tentative name), and will pursue a new growth strategy alongside existing shareholders SBI Holdings and Sumitomo Mitsui Financial Group (SMFG).
Why Japan, and why nowStablecoins and tokenized real-world assets have been expanding rapidly across global markets, with onchain finance, where financial assets are issued, distributed, and settled directly on blockchain networks, increasingly viewed as the next generation of financial market infrastructure.
Solana is a layer-1 blockchain known for high throughput, low transaction costs, and one of the largest ecosystems in the industry, making it a natural technical foundation for this kind of infrastructure.
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Japan brings something different to the partnership: deep pools of financial assets, a broad base of market participants, and a legal framework that has moved further ahead than many other jurisdictions in preparing for digital assets.
The collaboration is designed to connect those domestic strengths with Solana's global network, linking Japan's financial market directly to global liquidity.
The stated goal is to establish Japan as a core hub for onchain finance across Asia.
What SBI Solana Global will actually buildThe new entity plans to pursue several initiatives, all built on Solana:
Supporting the issuance and distribution of stablecoins, including a yen-denominated stablecoin known as JPYSC.Supporting the structuring and distribution of tokenized real-world assets, including corporate bonds, commercial paper, funds, and real estate.Developing cross-border settlement infrastructure.Providing onchain financial services for institutional investors.Developing next-generation payment infrastructure built for the AI-agent era.By offering integrated support spanning technology, issuance, distribution, and settlement, SBI Solana Global aims to accelerate the growth of an onchain financial market rooted in Japan.
What comes nextSBI Group and Solana say they plan to expand this collaboration beyond Japan, working toward broader integration with markets across Asia and globally as the two organizations build out new financial infrastructure for the onchain era.
Nobody hacked anything. No smart contract failed, no private key leaked, no phishing link fired. On July 6, the treasury of BonkDAO, the community organization behind one of Solana’s flagship memecoins, transferred roughly $20 million worth of BONK to a wallet controlled by an attacker, and every step of the transfer was a valid transaction executed exactly as the DAO’s own rules prescribed.
Summary
An attacker spent about $4.4 million to gain enough BONK voting power and passed a proposal that transferred nearly $20 million from the BonkDAO treasury. The incident exposed how low voter participation, no timelock, and automatic proposal execution left the DAO vulnerable to governance capture. The treasury drain has renewed calls for stronger DAO safeguards as exchanges, investigators, and the broader crypto industry assess the aftermath. The attacker did not break the governance system. They bought it, for about $4.4 million, at an implied return of nearly five to one, in a vote where seven wallets participated and more than 18,000 members did not. The episode is the cleanest proof to date of an uncomfortable truth the industry has spent years politely ignoring: a treasury governed by token-weighted voting is worth exactly the cost of assembling a temporary majority, and for most DAOs, that cost is a fraction of the prize.
The mechanics deserve a careful walkthrough because the details are what turn a crime story into a design lesson. And the aftermath, exchanges freezing deposits, law enforcement notified, a philosophical fight over whether this was theft at all, will shape how every treasury-holding DAO on every chain rewrites its rules over the next year.
Six days in the open The attack was not fast, and it was not hidden. On June 30, an anonymous wallet submitted a proposal to BonkDAO’s governance system, which runs on Realms, Solana’s standard DAO tooling. The proposal carried the title BIP #76, styled itself as a governance renewal plan, and dressed the theft in the language of turnaround management: install new leadership, restructure the council, monetize treasury holdings, stop the bleeding. It even included a line noting that yes-voters would be eligible to receive tokens, a detail that reads in hindsight like a dark joke about incentive design. Beneath the rhetoric sat the only clause that mattered: an instruction to transfer 4.43 trillion BONK, the bulk of the treasury, to a wallet the proposer controlled.
The proposal stayed live for six days. During that window, the attacker methodically accumulated voting power, spending approximately $4.4 million buying BONK through exchange wallets, an amount equal to just over 1% of total supply but decisive against the DAO’s quorum arithmetic. On-chain researchers, including Yu Xian of security firm SlowMist and the analyst Yu Jin, later reconstructed the accumulation pattern: purchases sized to clear the quorum threshold with minimal excess, executed while the proposal sat in plain sight and no meaningful opposition organized. On July 6, the attacker cast the assembled stake. The final tally showed 882.38 billion BONK in favor against a quorum threshold of 879.95 billion, a margin so narrow it amounts to the attacker buying the exact number of votes required and almost nothing more.
Turnout was 2.9%. The yes share was 99.9%, which is what unanimity looks like when a single voter agrees with itself.
Then the system worked as designed, which is the entire problem. Realms-based governance executes passed proposals automatically. No human signed off, no council reviewed the transfer, no delay separated approval from execution. The treasury moved to an address ending in JHvQ, which investigators traced to funding from a Bybit account, and portions began flowing toward exchanges within hours.
The anatomy of the failure Three missing safeguards converted a bad proposal into an executed one, and each is a standard control the DAO simply did not have. The first is a timelock: a mandatory delay between a proposal passing and its instructions executing. Even a 48-hour window would have given the community, or the core team, time to see a treasury-draining transfer queued and organize a response. The second is a multisig or council veto: an emergency brake allowing designated signers to freeze anomalous executions. The third is quorum and participation design: a system where 1% of supply can constitute a passing majority against 2.9% turnout has set its security budget equal to the apathy of its members.
The deeper failure sits above all three: the treasury’s size bore no relationship to the cost of controlling it. BonkDAO held roughly 15% of all circulating BONK, a war chest accumulated through the token’s boom years, governed by a mechanism whose capture cost floated with the token’s price and its holders’ attention. The attacker’s arithmetic was public information. Anyone could compute that quorum, multiplied by market price, cost about $4 million to satisfy, against a treasury worth five times that. The only surprising thing about the attack is that it took until 2026.
The pattern has a canonical ancestor. In 2022, an attacker used a flash loan to seize voting control of Beanstalk, a DeFi protocol, and drained about $180 million in the same block. The industry’s response then was to treat flash-loan governance as the flaw: protocols added voting delays that made borrowed tokens useless for instant capture. BonkDAO’s attacker needed no flash loan. They used patient capital, real purchases held across days, which defeats the flash-loan defenses entirely and shows that the vulnerability was never the loan. It was the market for votes itself.
The market for votes was always there The uncomfortable context is that vote buying in DAO governance is not a fringe exploit; it is an industry with infrastructure. Bribe markets, where protocols openly pay token holders to vote for emissions and incentives, have operated for years around the largest DeFi governance systems and are treated as legitimate yield. Vote-lending and delegation markets let holders rent their governance power without selling their tokens. The line between that accepted economy and what happened to BonkDAO is intent, not mechanism: the machinery for converting money into votes was built, normalized, and liquid long before someone aimed it at a treasury instead of an emissions gauge.
That normalization is why the security framing has to be economic instead of technical. Auditors evaluate smart contracts against code exploits and can certify a system bug-free while it remains trivially capturable, because capture is not a bug. The relevant metric, which security researchers have urged for years under the name cost of corruption, compares the expense of acquiring decisive voting power against the value extractable by wielding it. For a healthy system, the first number exceeds the second with a wide margin. BonkDAO’s ratio, roughly $4.4 million against $20 million, was not marginal. It was an arbitrage with a six-day settlement period, advertised on a public governance forum. Any DAO that has never computed its own ratio should assume an attacker has.
The turnout side of the ratio deserves equal weight, because the attacker’s capital did not defeat 18,000 members; it defeated their absence. Governance participation across the industry has decayed for years, from the double-digit turnout of early experiments to the low single digits typical today, as token holders rationally conclude that reading proposals is unpaid labor with diluted influence. Every percentage point of apathy directly lowers the capture price. In that sense, the $4.4 million was not the cost of beating BonkDAO’s community. It was the market-clearing price of its indifference, and comparable prices are computable for hundreds of treasuries right now.
The tooling default problem A quieter thread of the postmortem concerns Realms, the standard governance stack on Solana, and by extension the defaults every DAO platform ships. Nothing in the incident involved a flaw in the tooling: Realms executed a validly passed proposal, which is its job. But defaults are policy, and the configuration this DAO ran, automatic execution, no timelock, a static quorum set long ago, is the path of least resistance the tooling made easy. The same critique applies across ecosystems, where governance frameworks expose timelocks and councils as optional modules that busy launch teams skip. The predictable industry response is already forming: platforms moving protective defaults from opt-in to opt-out, warning surfaces that flag treasury-moving instructions in plain language, and simulation tools that show voters exactly what a proposal executes before they approve it. None of that required new research. It required a $20 million proof that someone would actually pull the trigger.
Theft, or the rules working The philosophical fight broke out immediately and is more consequential than it sounds. One camp, including a notable contingent of on-chain observers, argues that nothing was stolen: the attacker followed every rule, won a vote the rules recognized, and executed a transfer the rules authorized. Code was law, the law was bad, and the losses are tuition. The proposal was public for six days; 18,000 members who could not be bothered to vote against their own treasury made a governance decision by omission. On this reading, the term “attack” launders negligence into victimhood, and law enforcement involvement sets a precedent that undermines the entire premise of on-chain governance: if valid votes can be criminal, then governance outcomes are subject to off-chain veto, and the system’s guarantees mean nothing.
The opposing camp, which includes BonkDAO itself, the analytics firms tracking the funds, and figures like Ripple’s chief technology officer emeritus David Schwartz, who compared the maneuver to corporate fraud, argues that legality is not defined by protocol validity. A proposal that misrepresents its purpose, transfers assets to its author, and relies on engineered low turnout is fraud in any legal system humans have built, regardless of how faithfully the machinery executed it. Corporate law developed exactly these doctrines for exactly these reasons: shareholder votes procured through deception are voidable, and control acquired to loot a treasury is a breach the courts unwind. The wrapper being a DAO does not repeal centuries of fiduciary reasoning.
The debate matters practically because it decides where defense happens. If this is theft, then exchanges freezing funds, as Upbit did when it suspended BONK deposits and withdrawals, and law enforcement tracing the Bybit-funded wallet are the immune system working. If this is the rules working, then every defense must live on-chain, in timelocks and vetoes and quorum design, and off-chain recovery is itself the attack on the system. The industry visibly believes both things at once, which is why the response has been both a law enforcement referral and a wave of emergency governance reviews at other DAOs.
What BONK was, and what the treasury was for The scale of the loss only registers against what the DAO had built. BONK launched in December 2022 as Solana’s answer to its darkest hour, airdropping half its supply to the ecosystem’s users, developers, and artists in the weeks after the FTX collapse had cratered confidence in the chain. The distribution strategy worked beyond any reasonable expectation: the token became the community flag of Solana’s recovery, integrated across hundreds of applications, listed on every major venue, and eventually the anchor of an ecosystem spanning launchpads, exchanges, and grant programs. The treasury at the center of this month’s attack was the accumulated war chest of that run, holding roughly 15% of supply and funding the buybacks, integrations, and community programs that separated BONK from the thousands of memecoins that mint, spike, and vanish.
That history is why the governance failure stings beyond the dollar figure. The DAO structure was not decoration; it was the mechanism by which a token with no product and no cash flows coordinated thousands of contributors for three years. The treasury was the proof that memecoin communities could accumulate and steward real resources. Its draining through a seven-wallet vote is therefore an attack on the category’s best argument for itself, and every project that pitched community treasuries as the moat now answers for the moat’s price tag.
The damage, priced The market’s verdict was swift but contained. BONK fell between 8 and 10% on the disclosure, trading around levels that left its market capitalization near $400 million, and stabilized within days. Several factors capped the damage. The stolen tokens, more than 4.4 trillion BONK, represent supply that was already outside the market in a treasury, so the theft’s mechanical effect is a transfer of overhang rather than new emission, though overhang in hostile hands is worth less than overhang in friendly ones. Exchange coordination raised the realistic prospect of partial recovery or at least slowed liquidation. And the token’s price had already absorbed a brutal year alongside the whole memecoin complex, whose aggregate value sits more than 50% below its level of twelve months ago even after a July bounce, leaving less speculative premium to destroy.
No user wallets were touched, and the BONK token contract itself was never at issue, distinctions that matter for the asset’s survival. The loss is concentrated in the commons: the treasury that funded ecosystem grants, marketing, and the buyback programs that gave the DAO its purpose. For a memecoin, whose entire value proposition is community coordination, draining the coordination budget through the coordination mechanism is a uniquely poetic wound, as crypto.news noted in its report on the treasury raid. The token survives; the question is whether the institution does.
The recovery race Recovery, if it happens, will happen at the choke points, and the first week showed both their power and their limits. Stolen tokens moving toward centralized exchanges triggered the standard playbook: BonkDAO identified the exchange wallets used to accumulate BONK before the vote, notified law enforcement, and coordinated with exchanges, bridges, and the Solana Foundation. Upbit’s suspension of BONK deposits and withdrawals closed one of the deepest liquidity venues to the attacker, and the wallet trail through a Bybit-funded account gives investigators a potential identity thread, since major exchanges hold verified customer records behind funded accounts.
The limits are equally real. On-chain funds that stay on-chain remain beyond freezing, and an attacker with $20 million of patience can wait out attention, launder through decentralized venues, or drip supply into liquidity over months. Security analysts examining the movement patterns flagged infrastructure choices that complicate tracing, and the history of comparable incidents suggests recoveries are partial when they happen at all, often arriving through negotiated returns, the white-hat conversion, where an attacker keeps a bounty-sized fraction, more often than through seizure. The realistic best case is not restoration but attrition: enough friction at every exit that liquidation becomes slow, discounted, and legally dangerous, which changes the attacker’s arithmetic retroactively and, more importantly, changes it prospectively for the next one running the same computation against another treasury.
The regulatory shadow The episode also lands in the middle of a live legislative fight, and lawmakers hostile to DeFi could not have commissioned a better exhibit. The CLARITY Act’s most contested sections concern exactly this territory: what obligations attach to decentralized systems, who bears responsibility when autonomous code moves other people’s money, and whether governance token holders or developers stand behind the structures they launch. A $20 million treasury vanishing through a valid vote, followed by an appeal to the very law enforcement the system was designed to route around, hands skeptics their argument in a single anecdote: the industry wants code to be law until code loses, at which point it wants law to be law. Advocates will answer that the failure was one badly configured DAO, not the model, and that the response, exchanges, analytics firms, and police cooperating within hours, shows the accountability layer functioning. Both arguments will be quoted in committee, and the regulation debate will price the incident long after the market has forgotten it.
There is a subtler legal exposure inside the DAO structure itself. If courts or regulators conclude that governance token voting constitutes control, then large holders who do vote may carry duties toward the treasury they direct, an outcome that would make participation more dangerous than apathy and invert the incentive problem the industry is trying to fix. The unresolved status of DAO legal personhood, patched in a few jurisdictions through wrapper statutes and ignored in most, means every treasury of size is now a test case waiting for its plaintiff.
What every other DAO does now The practical legacy of BIP #76 is a checklist already circulating through governance forums across Solana and every other ecosystem. Timelocks on treasury-affecting proposals move from best practice to table stakes, with delays scaled to transfer size. Emergency veto councils, unfashionable for years because they reintroduce trusted parties into trustless systems, return to favor with sunset clauses and narrow mandates as the compromise. Quorum design gets rethought around adversarial math: thresholds set as a function of treasury value and float cost, not as static%ages chosen at launch when nobody imagined the treasury would be worth stealing. Proposal screening adds friction, deposit requirements, and mandatory review windows for any instruction that moves funds. And delegation programs attempt to fix the underlying disease, the 2.9% turnout, by concentrating voting power in accountable delegates who show up.
Each fix carries its own cost, and the honest version of the checklist admits it. Timelocks slow legitimate operations and give markets time to front-run treasury actions. Vetoes recreate the trusted committee that DAOs were invented to remove, and committees can be captured too, or become liability magnets under exactly the legal theories the theft camp invoked. High quorums can freeze governance entirely in low-attention projects, converting treasuries into unspendable monuments. The design space has no free choices, only tradeoffs between capture resistance and operational capacity, and every DAO is now pricing those tradeoffs under deadline.
The DeFi sector’s broader security picture sharpens the urgency. The same week brought a $9 million oracle exploit on a Hedera lending protocol and an active drain at a yield platform flagged mid-attack by security monitors, part of a first half that set records for incident count. Governance capture now joins oracle manipulation and bridge compromise on the standing threat list, with one distinction that makes it worse: it scales with legitimacy. The more valuable and decentralized a DAO becomes, the more its governance token trades freely, and the more liquid the market for its own capture.
The watchlist for holders and builders For anyone holding BONK or tokens governed by similar structures, the incident reduces to observable signals. On the recovery track: movement from the JHvQ-linked wallets, exchange announcements about frozen or returned funds, and any communication suggesting a negotiated settlement, each of which reprices both the treasury and the overhang. On the reform track: the text of the DAO’s emergency proposals, whether they include timelocks and a veto council, and crucially the turnout they attract, since a reform vote that passes with the same 2.9% participation has fixed the paperwork and not the disease. On the contagion track: whether other large-treasury DAOs disclose their own capture math and patch it publicly, or wait for their own BIP #76.
Builders face a starker version of the same list. Compute the cost of corruption for your own system today: quorum threshold times token price against extractable treasury value, adjusted for realistic turnout. If the ratio is unfavorable, every day it stays public is a day the trade is live for someone else. The defenses are neither novel nor expensive, which is exactly why their absence will stop being forgivable. Before July 6, an unprotected treasury was a theoretical risk that governance forums debated in the abstract. After it, the exploit is documented, the playbook is public, the return profile is proven, and the next attacker does not need to innovate. They need to search.
There is also a quieter question for the Solana ecosystem specifically, which had, by most measures, its strongest institutional month on record even as the attack unfolded: whether the maturity narrative absorbs the incident or gets dented by it. The honest answer is that the two stories are about different layers. The chain performed flawlessly throughout; the failure lived entirely in one organization’s configuration of one governance application. Institutions doing diligence understand that distinction. Retail sentiment, which still drives the memecoin complex that BONK anchors, often does not, and the gap between those two readings will be visible in the relative performance of governance-token projects for quarters.
The bill for cheap governance comes due For BONK itself, the path from here runs through three questions. Whether exchange and law enforcement coordination claws back a meaningful share of the 4.4 trillion tokens, where each recovered tranche is both treasury restoration and supply certainty. Whether the DAO can pass its own emergency reforms through the very mechanism that just failed, a live experiment in whether a captured system can vote itself better armor. And whether the community that made BONK one of the defining tokens of the meme coin era treats the episode as a death knell or a founding trauma; communities have rallied around less. The token has survived worse markets than this news.
For everyone else, the lesson costs nothing and is therefore priceless. Every DAO treasury on every chain now has a public quote for what its governance is worth: the market price of its quorum. If that number is smaller than the treasury, the treasury is not owned, it is rented, and the rent is whatever an attacker pays for the votes.
BonkDAO’s members learned the rent on a Monday in July. The rest of the industry gets to learn it from the outside, which is the only cheap way the lesson is ever taught.
Disclaimer: This article is information, not investment advice. Figures, on-chain attributions, and recovery prospects reflect reporting available as of July 14, 2026, and can change as investigations proceed. Characterizations of the incident as theft or as valid governance are contested. Nothing here is a recommendation to buy or sell BONK or any other asset. Verify current developments from primary sources and consider your own circumstances before making any decision.
Confirmo has rolled out an automated stablecoin-based subscription payment service designed to help businesses simplify recurring billing using wallets, exchanges, and enterprise platforms. The new solution delivers automated, scheduled payments for subscription companies, software-as-a-service providers, and trading platforms across the global digital asset sector.
Enterprise subscription payments with stablecoinsThe platform, named Subscribe, enables enterprises to process recurring transactions in stablecoins without the need for separate blockchain infrastructure or complex new systems. Businesses can maintain their current payment configurations while adding support for automated digital asset payments.
Subscribe initially supports USDC, issued by Circle, and USDG, provided by Paxos, operating on both the Solana and Polygon blockchains. This integration extends recurring payment functionality to users transacting in these two stablecoins across multiple blockchain networks.
Customers can authorize recurring payments via hundreds of digital wallets compatible with WalletConnect, granting broad user access. By including both self-custody wallet options and exchange accounts, the service allows for flexibility in payment methods. Merchants benefit from automated settlements that follow predetermined billing dates, supporting seamless revenue management across global customer bases.
Confirmo has stated that subscription pricing remains denominated in US dollars, which serves to minimize exposure to the volatility common in the cryptocurrency markets. This approach helps businesses plan more predictable revenues and potentially reduce the expense of international transaction processing.
NetworkSupported StablecoinsPayment MethodsSolanaUSDC, USDGSelf-custody wallets, exchange accountsPolygonUSDC, USDGSelf-custody wallets, exchange accountsMerchants can view all scheduled and completed payments directly within the Confirmo dashboard, allowing them to manage both recurring subscriptions and other stablecoin payment activities from a single interface.
Mini dictionary: Confirmo is a fintech company focusing on automated blockchain payment solutions for businesses, offering services to help enterprises integrate digital asset transactions into their standard payment flows.
Development supported by FTMO partnershipConfirmo worked with FTMO, a proprietary trading firm, to design and test the subscription platform before commercial release. By involving FTMO as a design partner, Confirmo adapted Subscribe to address practical requirements of businesses facing operational challenges with cross-border and recurring stablecoin payments.
The service aligns with a wider industry trend to expand the use of stablecoins beyond trading activities toward payment automation, cross-border settlements, and recurring billing solutions.
Anna Kratky Strebl, Group CEO at Confirmo, stated that Subscribe equips merchants with a transparent, efficient approach for managing recurring revenue and offers consumers the convenience of using familiar digital wallets and accounts.
Confirmo emphasized that recurring payments are visible and managed from an integrated dashboard, providing transparency and control over subscription revenues. The company aims to offer reliable payment infrastructure to a growing digital asset user base worldwide.
Recent reports project the global subscription market to reach $1.2 trillion by 2030, underlining increasing demand for flexible and robust billing tools among businesses. The expansion of digital asset ownership further supports the case for blockchain-based solutions in enterprise payment operations.
Through the Subscribe platform, Confirmo intends to make enterprise-grade stablecoin payment automation more accessible, enabling companies to streamline international commerce and adapt to the evolving digital financial landscape.
Confirmo’s latest product demonstrates the company’s focus on delivering scalable, stablecoin-powered payment systems as subscriptions and digital assets gain traction in the wider economy.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
On July 13, one of Japan’s largest financial conglomerates rewired its blockchain strategy in a single press release. SBI Holdings announced that the Solana Foundation will take an equity stake in SBI R3 Japan, the joint venture it shares with Sumitomo Mitsui Financial Group, and that the entity will be renamed SBI Solana Global.
Summary
SBI Holdings and the Solana Foundation formed SBI Solana Global to support yen stablecoins, tokenized assets, and institutional blockchain services in Japan. The venture gives Solana one of its strongest institutional partnerships in Asia, though key commercial details and launch timelines remain undisclosed. The announcement had little immediate impact on SOL price as markets continued waiting for products and measurable on chain adoption. The new company’s mandate reads like a full-stack blueprint for moving Japanese finance onto a public blockchain: yen stablecoin issuance and distribution, tokenization of corporate bonds, commercial paper, funds, and real estate, cross-border settlement rails, institutional on-chain services, and payment infrastructure for AI agents. For Solana, it is the deepest institutional embrace the network has received in Asia. For SBI, a company that spent nearly a decade as Ripple’s most committed champion in the region, it is a pivot loaded with signal. The question the market spent July 14 arguing about is which signal: validation of Solana as institutional infrastructure, or a reminder of how much distance separates a memorandum from a market.
The price answered with a shrug. SOL traded near $76 as the announcement circulated, slipping roughly 3.5 percent in line with a broader risk-off session, its market capitalization holding above $44 billion. That muted reaction is itself the story.
A G-SIB-adjacent joint venture with equity participation from the Solana Foundation would have produced a double-digit candle in any prior cycle. In this one, it landed on a market that has learned to discount institutional announcements until they ship products, and the gap between the announcement’s strategic weight and its price impact frames both sides of the debate that follows.
NEW: SBI Holdings and the Solana Foundation partner to build an onchain financial market in Japan
SBI Solana Global will support stablecoin issuance, tokenized real-world assets, cross-border settlement, and institutional services pic.twitter.com/Dn1WDFmEHg
— crypto.news (@cryptodotnews) July 14, 2026 What was actually announced Strip the release to its verifiable commitments and the structure is more concrete than the usual partnership language. SBI R3 Japan, the existing entity, adopts the planned trade name SBI Solana Global following standard corporate procedures. The Solana Foundation, the Swiss organization that stewards the network, acquires a fresh equity stake alongside existing shareholders SBI Holdings and Sumitomo Mitsui Financial Group. Equity matters here: foundations typically sign memoranda and grant programs, not cap tables. Taking ownership in the operating company aligns the foundation’s incentives with the venture’s commercial outcomes and gives Solana a seat inside a regulated Japanese financial group rather than a logo on its slide deck.
The mandate spans five areas. First, supporting the issuance and circulation of stablecoins, explicitly including JPYSC, the yen-denominated stablecoin SBI launched in June. Second, structuring and distributing tokenized real-world assets: corporate bonds, commercial paper, investment funds, and real estate, the deepest asset pools in Japanese finance. Third, cross-border payment and settlement infrastructure connecting Japan-originated assets to global liquidity. Fourth, on-chain financial services for institutional investors, covering issuance, transfer, recordkeeping, and settlement. Fifth, and most speculative, next-generation payment systems for the AI agent economy, in which automated software transacts under defined controls without human initiation. SBI framed the collective ambition as making Japan a core hub for on-chain finance in Asia by creating a new market for Japanese digital assets.
What was not announced matters equally. The size of the foundation’s stake is undisclosed. So are product launch dates, fee structures, revenue expectations, and the distribution channel: whether products flow through SBI VC Trade, through Bitbank, the exchange SBI has moved to acquire in a deal reported around 46.7 billion yen, or through another group entity. The venture, as of today, is a structure and a mandate. Everything commercial remains to be built.
The JPYSC foundation The announcement builds directly on a milestone from three weeks earlier. On June 24, Japan launched its first trust-backed yen stablecoin, JPYSC, through a joint initiative between SBI Group and Web3 infrastructure firm Startale Group. SBI Shinsei Trust Bank serves as issuer, SBI VC Trade handles primary distribution, and the token operates as a Type III Electronic Payment Instrument under Japan’s amended Payment Services Act. That classification is the quiet breakthrough: it places a yen token inside a dedicated regulatory category with defined reserve, redemption, and disclosure obligations, which is precisely the legal scaffolding that lets regulated institutions touch the product.
A yen stablecoin with trust-bank issuance is the keystone asset for everything else in the SBI Solana Global mandate. Tokenized bonds need a settlement leg. Cross-border corridors need a regulated on-ramp on the Japanese side. Institutional on-chain services need a cash instrument that compliance departments recognize. One caveat belongs in every analysis: SBI has not confirmed that JPYSC has been issued on Solana or that Solana will become its primary network. The venture will support the token’s issuance and circulation, but the chain-level architecture remains unstated, and the distinction between a Solana-native yen stablecoin and a multi-chain one materially changes how much of the resulting activity accrues to the network the foundation just bought into.
Why Japan, and why now Japan is an unusual candidate for on-chain finance leadership until you look at its rulebook. The country moved earlier than nearly every major market to build statutory frameworks for both stablecoins and security tokens. Stablecoins sit under the Payment Services Act with its dedicated electronic payment instrument categories. Tokenized securities operate inside existing disclosure law through a security token offering regime that domestic institutions have already used for bond and real estate issuance. While the United States argues over the CLARITY Act and its committee reconciliations, as crypto.news has tracked through the bill’s collapsing passage odds, Japan’s equivalent questions were answered by statute years ago. The venture is not waiting on a legal gate. It is standing on one.
That regulatory position explains the timing from the Japanese side. Domestic competition to build the tokenization stack has intensified: SMBC Group has explored stablecoin issuance with Ava Labs, Fireblocks, and TIS. The Progmat platform, backed by a consortium of Japan’s megabanks, has advanced tokenized bonds. Japan Open Chain pursues a similar mandate on domestic rails. SBI itself has worked with Chainlink on tokenized asset infrastructure and led a $125 million round in risk-modeling firm Gauntlet to build institutional DeFi capability. The race is domestic before it is global, and locking a major public network into an equity structure is a differentiating move no rival has matched. For the Solana side, Japan offers what every layer-1 foundation wants and few can get: a G-SIB shareholder, a compliant asset pipeline, and a jurisdiction where the products are legal before they launch.
How Solana became the institutional candidate The selection deserves its own examination, because five years ago the sentence “a Japanese megabank consortium chose Solana for bond settlement” would have read as satire. The network’s early institutional reputation was defined by outages and by an ecosystem culture built around memecoins and retail speculation. The rehabilitation happened in layers. Client diversity and successive network upgrades pushed reliability into territory institutions could underwrite. The validator economics and fee markets matured. The developer ecosystem, measured by shipped applications, kept compounding through the bear market. And critically for this use case, the network’s core design tradeoff, maximal throughput and minimal cost on a single integrated layer, maps cleanly onto what securities settlement actually requires: high message volume, deterministic finality, and fees small enough to vanish inside institutional operating costs.
The contrast with the alternative public-chain path is instructive. Ethereum’s institutional pitch routes through its layer-2 architecture, which offers deep liquidity and conservative security assumptions at the cost of fragmentation: assets and settlement scattered across rollups with distinct trust models and bridging risk. For a regulated issuer building a national market from scratch, a single high-capacity layer with one operational model is an easier system to document, audit, and explain to a financial regulator. That does not make it the winning choice in every jurisdiction, and Ethereum’s institutional footprint in tokenized funds remains the largest in the world. It explains why a greenfield national buildout, with no legacy liquidity to protect, optimized for integration simplicity. SBI ran production systems on permissioned rails for a decade; its engineers know exactly what operational complexity costs.
The market Japan is playing for The prize behind the mandate is the tokenization of conventional assets, the one crypto vertical where institutional forecasts and shipped products have both kept growing through the bear market. Tokenized money market funds and treasuries crossed from pilot to product globally, stablecoin settlement volumes now rival card networks on some corridors, and every major custodian has a tokenization roadmap. The economics driving it are prosaic: settlement compression from days to minutes, collateral mobility across time zones, fractionalization of large-ticket assets like real estate, and the removal of reconciliation layers that exist only because ledgers do not talk to each other.
Japan’s specific opportunity is scale plus stagnation. The country holds one of the deepest bond markets on earth, a vast commercial paper market, and household financial assets in the quadrillions of yen, overwhelmingly parked in instruments whose infrastructure has not changed in decades. A regulated tokenization pipeline that moved even a fraction of a percent of that stock would dwarf every crypto-native RWA experiment to date. That is the arithmetic that makes a cautious conglomerate move: the venture is not chasing crypto volumes, it is positioning for the plumbing upgrade of a domestic capital market, with the yen stablecoin as the settlement layer and the public chain as the registry. Whether that flow prices SOL is a separate question, and an honest one, but the flow itself is the largest addressable market any layer-1 has been formally pointed at in Asia.
The Ripple question No analysis of this announcement is complete without the elephant in SBI’s portfolio. SBI spent close to a decade as Ripple’s anchor partner in Asia: joint ventures, board relationships, XRP-based remittance corridors, and most recently the distribution of Ripple’s RLUSD stablecoin in Japan. The reflexive reading of the Solana pivot is that SBI is diversifying away from a partner whose token has spent 2026 pinned near $1, and the crypto commentariat spent the announcement day running exactly that narrative.
The evidence supports a more boring conclusion: addition, not substitution. The RLUSD distribution agreement stands. The remittance businesses continue. SBI’s investor materials describe a multi-stablecoin, multi-chain architecture in which USDC, RLUSD, and JPYSC serve different corridors and client bases. What the Solana venture adds is a public-chain execution layer for the tokenized asset and institutional settlement businesses, a lane Ripple’s enterprise stack was never positioned to own in Japan. The sharper competitive reading runs the other direction: SBI has effectively decided that no single network gets exclusivity over Japanese on-chain finance, and every foundation and issuer now knows the anchor client is polyamorous. That is worse news for maximalists of every persuasion than for any specific chain.
The same logic governs the R3 legacy. SBI R3 Japan was built to commercialize Corda, the permissioned ledger that defined the previous era of institutional blockchain strategy. Renaming the entity around a public network is a clean marker of where that era ended: the consortium chains produced pilots, and the public chains produced markets. The rebrand does not confirm SBI is abandoning Corda-based systems already in production, but the naming decision tells you where the growth budget goes.
There is also a precedent dimension worth naming directly, because it changes how other jurisdictions read the deal. Financial institutions worldwide have partnered with blockchain firms for years, but the standard structures kept the chains at arm’s length: vendor contracts, pilots, consortium memberships that could be exited by memo. An equity joint venture with a foundation, a megabank on the register, and a mandate over core capital markets is a different category of commitment, visible to every regulator and rival that studies it. If the structure works, it becomes the template that other national markets copy, and the foundations of competing networks will be pushed by their own ecosystems to offer equivalent skin. If it stalls, it becomes the cautionary slide in every consultant’s deck for a decade. Either way, the arms-length era of bank-blockchain relations ended in Tokyo this week, and the industry will be arguing about the terms of its replacement for years.
The stablecoin geography taking shape Zoom out from the single announcement and a regional architecture becomes visible. SBI’s portfolio now spans three stablecoin lanes with distinct jurisdictions and jobs: USDC for global dollar liquidity, where SBI’s crypto arm has already built retail lending products; RLUSD for the enterprise settlement corridors it operates with Ripple; and JPYSC for the domestic yen leg that everything Japanese ultimately touches. The Solana Foundation’s parallel moves fill in the map: the KG Inicis work in South Korea targets merchant settlement and loyalty on the peninsula, Circle keeps expanding USDC issuance on the network, and the SBI venture now anchors the Japanese corner. The pattern is a network positioning itself as the neutral settlement layer for Asian currency tokens rather than betting on any single issuer.
The strategic logic runs through corridors. The yen-dollar corridor is among the largest foreign exchange pairs in the world, and the remittance and trade flows between Japan, Korea, and Southeast Asia move through correspondent banking machinery whose costs stablecoin rails undercut by an order of magnitude. A regulated yen token, a regulated dollar token, and a common high-throughput chain turn cross-currency settlement from a messaging problem into an atomic transaction, which is the actual product hiding inside the venture’s cross-border mandate. Every incumbent in that machinery, from correspondent banks to card networks, has noticed, which is why the same months produced bank-led stablecoin consortiums on three continents.
The AI agent wildcard The fifth mandate area drew the most skepticism and deserves a fair reading. Payment infrastructure for AI agents means rails on which software authorized by humans or corporations transacts autonomously: procurement bots settling invoices, data services metering usage by the second, machine-to-machine markets for compute and content. Dismissing it as buzzword compliance is tempting, and until volumes exist, partially correct. But the design requirements are real and specific: sub-cent fees, instant finality, programmable controls, and no dependence on card networks built around human cardholders. Those requirements describe a public high-throughput chain settling in stablecoins more than they describe any legacy system, which is why agent payments appear in the roadmaps of nearly every serious payments company this year.
For the venture, the practical significance is optionality. The stablecoin and tokenization lanes justify the buildout on their own; the agent lane is a cheap call option on a category that could grow discontinuously if agentic commerce arrives on the schedule its promoters claim. A conglomerate writing that option into a joint venture mandate in 2026 costs nothing. Owning the regulated yen settlement layer if the option pays would be worth more than the rest of the mandate combined.
The bull case: the pipeline is the prize The bullish argument begins with what Solana receives that no marketing spend could buy. Direct equity participation embeds the foundation in a regulated Japanese financial group with Sumitomo Mitsui, a global systemically important bank, as co-shareholder. The venture’s mandate points Japan’s deepest asset classes, government-adjacent bonds, commercial paper, funds, and real estate, at Solana’s rails. Japan’s regulatory clarity means product launches face licensing work, not legislative risk. And the choice itself is a technical endorsement: a conglomerate that has run production blockchain systems for a decade evaluated the field and selected Solana’s throughput, cost profile, and developer ecosystem for institutional settlement.
The network context strengthens the case. Solana’s institutional year has compounded: Circle expanding USDC issuance on the network, payment processors in South Korea examining stablecoin checkout through KG Inicis, and a steady migration of tokenization pilots from private chains to public rails. The SBI venture slots into that pattern as its largest and most structurally committed Asian instance. If even the stablecoin and bond tokenization lanes ship at modest scale, Solana becomes the default public network for regulated Japanese assets, a position with compounding returns as the tokenization market grows. Institutional adoption is a coordination game, and Japan just coordinated.
The bear case: a mandate is not a market The skeptical argument starts with the same undisclosed list the release left behind. No stake size, no timelines, no revenue targets, no confirmed distribution channel, and no confirmation that even JPYSC, the venture’s flagship asset, runs primarily on Solana.
Japanese financial conglomerates are famously deliberate: the gap between a joint venture announcement and a product at scale is measured in years, and SBI’s own blockchain history includes ventures whose ambitions outran their shipped products. Corda was itself once the announced future of Japanese institutional blockchain, under the very entity being renamed.
The bear case also notes what the price action already said. SOL fell on announcement day, and not because the market misread the release. Institutional partnerships accrue value to the network’s fee economy slowly and to the token’s price more slowly still: tokenized bonds settle in stablecoins, not in SOL, and the network’s revenue capture from regulated asset flows runs through transaction fees that Solana’s architecture deliberately keeps near zero. The venture can succeed completely and still contribute little near-term to the token, which is the asset most readers of the announcement actually hold. Layer on the competitive risk that Progmat and the megabank consortiums keep Japan’s most conservative issuers on domestic rails, and the realistic bear scenario is not failure but marginalization: a venture that ships a stablecoin corridor and some real estate tokens while the core bond market stays where it is.
Finally, the macro caveat applies here as everywhere. Japan’s on-chain ambitions launch into a global regulation and rate environment that has compressed every crypto asset, and institutional programs approved in bull markets have a documented habit of shrinking in committee during bear ones. SMFG’s presence on the cap table is a commitment, not a guarantee of pace.
Where SOL the asset stands while the venture builds The token’s position entering this news cycle explains the muted reaction as much as any skepticism about the deal. SOL near $76 sits far below its cycle highs, compressed by the same Federal Reserve repricing and risk-off rotation that pulled Bitcoin toward $60,000 and drained the altcoin complex. The network’s fundamental dashboard has diverged from its price for months: application revenue, stablecoin supply, and developer activity holding up while the token trades with the market’s beta. Spot Solana ETFs exist in the United States, giving the asset the same wrapper infrastructure as Bitcoin, Ethereum, and XRP, and the March interpretive release that classified the major assets as digital commodities covered the top of the market broadly, leaving Solana’s institutional access story more mature than its price suggests.
That divergence frames how institutional news gets absorbed in this tape. Announcements that would have been front-run violently in a bull regime now enter a market where the marginal price-setter is a macro fund watching rate expectations, not a crypto fund watching partnerships. The historical pattern is that fundamental accumulation during such regimes expresses itself only when the macro binding constraint releases, at which point the assets with the strongest accumulated institutional stories tend to lead. Whether SOL occupies that position at the turn depends on execution stories exactly like this one converting into measurable on-chain flows before the regime changes. The venture’s builders and the token’s holders are, in that sense, racing different clocks toward the same event.
What would make this pivot real The venture converts from announcement to market on a short list of observable milestones, and each has a rough clock. The corporate rebrand completing is trivial but confirms the procedures are moving. Confirmation of JPYSC issuance on Solana, or of a Solana-native issuance track, is the first substantive tell, because the stablecoin is the settlement asset every other product needs. The first tokenized instrument, most plausibly commercial paper or a fund vehicle before a full corporate bond, would prove the issuance pipeline, and its distribution channel would answer the Bitbank question. Disclosure of the foundation’s stake size, whenever it comes, will calibrate how much skin accompanies the signal. And the first cross-border corridor, connecting a Japanese issuer to offshore liquidity through the venture’s rails, would validate the thesis that Japan-originated assets can find global buyers on a public chain.
A realistic clock helps calibrate expectations against Japanese corporate practice. The rebrand and stake completion should land within one to two quarters, since both run on procedure. A first product announcement inside 2026 would count as fast by the standards of the institutions involved; the first tokenized issuance reaching external investors in 2027 would still qualify as on schedule. Anyone trading SOL on this news should hold that timeline against their horizon, because the venture is built to pay off in infrastructure years, not in market weeks, and the mismatch between those clocks is where most disappointment in institutional crypto news is manufactured.
For DeFi and tokenization watchers, the wider significance does not depend on SBI’s execution speed. July 13 marked the first time a public blockchain foundation took equity in a regulated joint venture with a Japanese megabank group on the shareholder register, aimed at the country’s core capital markets. Whether Solana captures the resulting value in one year or five, the direction of institutional travel is no longer contested: the pilots era ran on private chains, and the production era is being built on public ones, with Japan, of all markets, moving first. The announcement’s price impact was a rounding error. Its precedent is not.
Disclaimer: This article is information, not investment advice. Deal terms, product plans, and market figures reflect reporting available as of July 14, 2026, and can change quickly. Key commercial details of the SBI Solana Global venture, including the equity stake size and launch timelines, remain undisclosed. Nothing here is a recommendation to buy or sell SOL or any other asset. Verify current developments from primary sources and consider your own circumstances before making any decision.
Solana (SOL), a prominent smart contract blockchain designed to offer high throughput and low transaction fees, has recently cleared significant downside liquidity as it trades around the $74 zone. Market focus has now shifted to whether buyers can defend this critical area and trigger a stronger recovery.
Solana clears downside liquidity, faces resistance aheadAfter a period marked by dense trading volumes below price, Solana pushed through several liquidity clusters and now gravitates near $74. According to liquidity heatmaps, significant trading activity has concentrated between $73 and $75 as SOL attempts to stabilize. This clearing of downside liquidity may reduce selling incentives, though it does not signal an immediate reversal.
Above the current price, the largest liquidity pools are found at $79-$81 and $84-$86. Should buyers propel SOL past $75, there appears to be potential for upward momentum with $80 acting as the first resistance point. However, previous support levels now carry the risk of capping any recovery attempts.
On the downside, if Solana fails to hold the $73 to $74 zone, bearish sentiment could prevail, potentially exposing support near $70 and, in a more severe scenario, triggering a slide toward $60-$65. Conversely, a reclaim and consolidation above $75 would signal an improved short-term market structure.
LevelSignificance$73-$75Current support, heavy trading activity$76.60Key level for recovery confirmation$79-$81Next resistance cluster$84-$86Secondary resistance$97.89Range high target$118-$128Projected breakout zone$60-$65Major downside risk areaRecovery hinges on reclaiming $76.60Solana is now retesting the lower boundary of its previous trading range, having bounced back from earlier lows near $60. The current technical outlook suggests that holding and regaining $76.60 would be necessary to convert the recent drop into a short-lived deviation, improving the prospects for a more durable recovery.
The price action has seen SOL dip briefly below its established multi-month range, only to move back toward its former floor. Historically, such deviations can adopt a bullish character if buyers retake the lost ground, demonstrating that sellers are unable to sustain momentum below the range.
Solana’s return to the lower edge of its range has triggered speculation about a potential bullish reversal, provided buyers reclaim $76.60 and follow through with stronger demand.
If Solana achieves a clear breakout above $76.60, immediate targets include the mid-$80s and the range high near $97.89. Surpassing this resistance would reinforce the case for expansion toward the $118-$128 zone, marking a significant recovery from recent lows.
However, Solana’s recovery remains vulnerable while it trades below the $76.60 threshold. A decisive drop under $73 could undermine bullish efforts and prompt a renewed move down toward support previously established near $60-$65.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
If you’ve ever dealt with failed credit card charges on a SaaS subscription, you know the pain. ConfirmoPay thinks stablecoins can fix that, and it just shipped a product to prove it.
The crypto payment gateway has launched Subscribe, a service that lets businesses automate recurring USDC collections on Solana. Think of it as Stripe’s subscription billing, except the rails are a blockchain instead of Visa’s network. No third-party processors, no manual invoicing, just programmatic money movement.
How Subscribe actually works Subscribe builds on Solana’s Subscriptions & Allowances program, which launched on June 2, 2026. That program essentially lets users pre-authorize recurring token transfers from their wallets, similar to how you’d set up autopay with a bank account, except entirely on-chain.
In English: a customer approves a spending allowance for a merchant, and the merchant can automatically pull the agreed-upon USDC amount at regular intervals. No card networks skimming fees. No chargebacks. No “your payment method has expired” emails.
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The service supports SPL tokens and Token-2022, including confidential transfers. That last bit matters because it means businesses can process payments with an added privacy layer, something enterprise clients tend to care about quite a lot when moving money around.
ConfirmoPay is targeting SaaS businesses specifically, which makes sense. Subscription software companies live and die by recurring revenue, and any friction in the billing process directly hits their bottom line. Traditional payment processors typically take 2.9% plus a per-transaction fee on recurring charges. On-chain settlement on Solana costs a fraction of a cent.
The company behind the product ConfirmoPay isn’t some weekend hackathon project. The company, operating under the Confirmo brand, has been in the crypto payments space for over 12 years. That’s practically ancient by industry standards, predating most of the tokens people trade today.
The numbers back up the track record. Confirmo processes more than $80 million monthly for enterprise clients across 141 countries. The platform runs at 99.97% uptime, which translates to roughly 2.6 hours of downtime per year.
Subscribe joins an existing product suite that already includes Checkout, Deposits, and Payouts. The company is also licensed under the EU’s MiCA regulations, giving it a compliance foundation that many crypto payment startups still lack.
Why Solana, and why now Solana has been methodically building out its payment infrastructure for years. The chain launched Solana Pay back in 2022, establishing its ambitions in the commerce space early. Since then, the ecosystem has expanded through integrations with firms like Helius, Dynamic, and Mesh, all of which served as design partners for the Subscriptions & Allowances program.
What this means for investors Processing $80 million monthly already puts Confirmo in serious territory. For comparison, that’s nearly a billion dollars annually flowing through a single crypto payment processor.
The risk side of the equation isn’t trivial either. Stablecoin regulatory frameworks are still evolving globally, and any changes to USDC’s status or Solana’s regulatory treatment could impact the viability of products built on top of them.
For those tracking the Solana ecosystem specifically, the Subscriptions & Allowances program represents a meaningful infrastructure upgrade that goes beyond ConfirmoPay. The design partners already involved, including Helius, Dynamic, and Mesh, suggest this is being treated as core infrastructure rather than a peripheral feature.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Solana isn’t just winning the dApp revenue race. It’s lapping the field.
The high-throughput blockchain has led all Layer 1 and Layer 2 chains in both weekly decentralized application revenue and DEX trading volume, extending a streak that now spans nine consecutive quarters through Q2 2026. During Q2 alone, Solana dApps generated $257 million in revenue, capturing approximately 41% of total Web3 dApp revenue.
The numbers behind the dominance In the week ending April 20, 2026, Solana posted $16.94 million in dApp revenue. Hyperliquid came in second at $14.18 million, with Ethereum trailing at $13.55 million.
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On the DEX side, Solana’s decentralized exchanges have been processing daily volumes averaging around $2.5 billion as of June 2026, with 24-hour trading volumes regularly exceeding $1.6 billion. The network processes hundreds of millions of transactions monthly, supported by millions of daily active addresses, while maintaining transaction fees that remain substantially lower than most competing chains.
Jupiter, the dominant aggregator on Solana, routed approximately $18.7 billion in DEX volume during June 2026 alone.
What’s fueling Solana’s engine Three forces are driving this performance. First, memecoins. Speculative token trading generates enormous fee revenue, and Solana has become the default chain for memecoin launches and trading. Second, DeFi protocols on Solana have matured considerably, with lending, borrowing, and yield farming applications building out robust liquidity pools. Third, consumer applications beyond pure finance — from gaming to social platforms — contribute to a diversified revenue base.
Monthly revenue dipped to $22 million in March 2026, a noticeable pullback that coincided with broader market softness. Quarterly performance remained on top regardless.
What this means for investors Every transaction fee, every swap, every memecoin trade generates demand for SOL, the native token required to pay for gas on the network. When a chain consistently captures 41% of Web3’s application-layer revenue, the economic gravity pulling users and developers toward it becomes self-reinforcing.
Hyperliquid’s $14.18 million weekly revenue shows it is not a distant also-ran, particularly in derivatives trading. Ethereum continues to benefit from its massive developer ecosystem, even as its raw revenue numbers trail Solana’s.
A significant portion of Solana’s revenue remains tied to memecoin trading, which is inherently cyclical. Jupiter’s outsized role also introduces concentration risk: when one aggregator routes $18.7 billion in a single month, the health of the broader ecosystem becomes partially tethered to that protocol’s continued success and security.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Solana has emerged as the leader in 24-hour decentralized exchange (DEX) volume, recording a staggering $4.15 billion, according to Cointelegraph. This figure places Solana ahead of other prominent blockchains, with BNB Chain and Robinhood Chain trailing behind. The surge in Solana’s DEX volume is attributed to increased speculative activity, particularly in memecoins, and reflects Solana’s growing dominance in the sector. Despite this impressive performance, Solana’s token price remains 57% below its Q4 2025 high, standing at $75.82. The current market activity suggests potential implications for Solana’s price trajectory in the coming weeks.
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Key Takeaways Solana’s leading position in DEX volume suggests robust market activity and growing interest in its platform. Current market pricing appears consistent with a moderate increase in the likelihood of Solana reaching $90 by the end of July. The high DEX volume reinforces Solana’s status as a major player in the non-Ethereum smart contract platform space. What to Watch Market participants will be closely monitoring Solana’s performance to see if it can maintain its momentum and reach higher price targets. Key indicators such as further increases in transaction volume or positive developments in the broader crypto market could be supportive of a YES outcome for Solana reaching $90. Conversely, any sustained drop in volume or negative market sentiment may suggest challenges in achieving this target. Observers should also watch for any announcements from Solana Labs or regulatory developments that could impact Solana’s market dynamics.
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Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 13% — — View market → August 1 2026 0.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 2.8% — — View market → August 1 2026 0.9% — — View market → August 1 2026 0.8% — — View market → August 1 2026 3.8% — — View market → August 1 2026 0.7% — — View market → August 1 2026 12.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1.4% — — View market → August 1 2026 0.1% — — View market → August 1 2026 55% — — View market →
Solana (SOL) is presently trading around $76.33, holding just above a significant short-term support zone defined between $73 and $76. Despite a modest 0.41% gain over the past 24 hours, the overall market direction remains uncertain, drawing close attention from traders and analysts alike.
Key price levels and resistance targetsThe $73–$76 price range is widely recognized by SOL traders as a pivotal battleground. Holding above this band is considered critical to preserving the potential for further upward price momentum. Should SOL fall below $73, analysts warn that the token could face renewed selling pressure and risk a slide toward recent low points.
On the upside, market participants are eyeing $80 as the next challenge for buyers. If SOL manages to break through this level, the path toward $87.20, seen as a major daily resistance point, could open up. A daily close above $87 would represent a notable technical shift and pave the way for further increases.
Technical analyst Jesse Peralta has identified a descending trendline that Solana is currently testing from below. This trendline has limited upward moves for months, and market watchers believe a breakout above it could shift momentum in favor of buyers.
Mini dictionary: Descending trendline, a downward-sloping line connecting falling peaks, often used in technical analysis to identify resistance levels.
Following a breakout confirmed above this trendline, price targets at $90 and then $100 have been cited by analysts as key milestones. However, analysts caution that a lack of confirmation could trigger another downward move, especially if the support at $73 gives way.
Trader Michaël van de Poppe noted the current region is a decisive moment for SOL, stating that defending $73 could initiate a rapid upward move, while a failure might lead the token to revisit its recent lows in the coming weeks.
In addition to these short-term moves, chartist Seth has pointed to signs of a Wyckoff accumulation pattern in SOL’s recent action, suggesting a period of consolidation could be underway after a prolonged distribution phase.
Correction zones and accumulation opportunitiesCrypto Patel has shared a three-week chart showing SOL’s correction from its $240 high and its positioning below notable resistance bands at $95–$100 and $140. According to Patel, if current levels do not hold, long-term accumulation opportunities could emerge in the $30–$52 territory—zones historically associated with low-risk entry points for position traders.
To achieve a substantial recovery, analysts emphasize that SOL must regain and maintain the $95–$100 range. Moving above this region could provide the momentum needed for an eventual attempt at the $140 level.
Price LevelSignificance$73–$76Critical short-term support$80Initial upside target$87.20Major resistance$95–$100Recovery milestone$140Key long-term resistance$30–$52Potential accumulation area Analysts highlight that any sustained move above $95–$100 could signal the end of the correction and start a fresh bullish phase, while a return to $30–$52 would reflect a continued drawdown.
Network developments and transaction activitySolana, an open-source blockchain known for supporting high-performance decentralized applications, continues to attract notable activity on its network. In a recent development, digital assets firm Circle minted 250 million USDC on Solana, reinforcing strong liquidity conditions for the ecosystem.
The substantial USDC issuance points to ongoing adoption and transaction activity, bolstering sentiment among network participants even as the price faces uncertainty. Some market participants have also referenced $150 as a long-term upside goal, while cautioning that progress to this level depends on clearing several intermediate resistance levels: $80, $90, and $100.
On the daily chart, SOL remains supported by an ascending trendline, with a secondary support “cloud” noted in the $74–$77 range, providing additional technical backing for the token at current prices.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Credible Finance’s initial coin offering (ICO) on the MetaDAO platform has markedly surpassed its fundraising goal, with commitments reaching $18.2 million against a target of $4 million. This overperformance by more than 4.5 times underscores robust demand for Solana-native fundraising mechanisms, highlighting MetaDAO’s effectiveness in capital formation. This development comes as the ICO still has three days left, presenting the potential for further financial commitments. MetaDAO, which operates as a decentralized capital formation layer on Solana, has previously facilitated significant oversubscriptions, such as Umbra’s 200-fold accomplishment.
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The market response to this news has been swift, with the odds of exceeding higher commitment thresholds by the end of August now reflecting heightened optimism. Current market data shows that the probability of surpassing $20 million in commitments is priced at 100% YES, while exceeding $25 million and $30 million stands at 93% and 70% YES respectively. This suggests that market participants view the possibility of reaching these higher thresholds as increasingly likely.
Key Takeaways The $18.2 million commitment significantly exceeds the $4 million target, suggesting strong demand in the market. MetaDAO’s platform has demonstrated its capacity to attract substantial oversubscription, consistent with previous fundraising events. Current market pricing suggests a high probability of commitments surpassing $20 million, reflecting optimistic expectations. What to Watch With three days remaining in the ICO, further developments could influence the final commitment total. Observers should watch for announcements from MetaDAO or Credible Finance regarding any changes to the fundraising cap or additional institutional commitments. The market’s pricing of over $30 million and $40 million thresholds suggests that surpassing these figures would be consistent with recent trends, potentially influencing the broader perception of Solana-based fundraising projects.
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Term Structure
Contract Odds Δ since publish Volume 24h August 31 2026 99.8% — — View market → August 31 2026 92.8% — — View market → August 31 2026 37% — — View market → August 31 2026 69.5% — — View market → August 31 2026 99.9% — — View market →
Goldman Sachs: Semiconductor industry fundamentals remain supported, while leveraged ETFs amplify volatility in tech stocks.
Goldman Sachs’ latest research report points out that the recent sharp volatility in global tech stocks is mainly driven by liquidity deleveraging triggered by highly leveraged transactions, rather than a deterioration in the semiconductor industry’s fundamentals. The U.S. investment bank noted that newly launched single-stock 2x leveraged ETFs in South Korea have amplified market volatility, with multiple leveraged ETFs tracking Samsung Electronics and SK Hynix once posting single-day declines of over 30% recently. To maintain their leverage ratios, the funds were forced to offload underlying stocks, creating a liquidity stampede feedback loop of "price drops → forced selling → deeper declines." Goldman Sachs estimates that around 62% of recent net selling by South Korean institutional investors comes from the liquidation of these ETFs. Meanwhile, the Leuthold Group pointed out that the U.S. margin balance has risen by roughly 54% over the past 12 months, entering a historically high range. Leveraged funds are heavily concentrated in the AI and semiconductor sectors, making the market structure more fragile. However, Goldman Sachs believes the semiconductor industry has not yet reached its cycle peak. The firm noted that earnings expectations for Samsung Electronics and SK Hynix have not been revised down. Limited expansion of memory chip production capacity means supply tightness is expected to persist until the second half of 2028, and the current pullback is more a position adjustment than a fundamental reversal of the industry.
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US government transfers nearly $300 million in crypto assets linked to fraud and money laundering cases involving BTC-e, Farace and others.
According to on-chain data platform Arkham’s monitoring, U.S. government-associated wallets transferred approximately $288 million in seized crypto assets to Coinbase Prime on Monday. The sum includes 2,875 BTC (valued at around $178 million) from the seized address linked to Ryan Farace’s "xanaxman" case, and 925.512 BTC (about $57 million) from the closed BTC-e exchange case—both were routed through newly created intermediate addresses before reaching Coinbase Prime. Separately, a wallet tied to the Brian Krewson money laundering case directly sent 30,007 ETH (worth roughly $53.09 million) to the platform. The transfer follows a March 2025 executive order signed by Trump, which mandates that seized Bitcoin for the strategic Bitcoin reserve should not be sold in principle. Notably, the funds’ transfer to Coinbase Prime does not signal a sale, as the platform provides services including custody, financing, and asset management. As of press time, U.S. government-related wallets hold approximately $20.65 billion in crypto assets, comprising 324,552 BTC, 28,394 ETH, and 145.5 million USDT. The latest transfer represents only a small fraction of their total holdings.
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BlackRock’s on-chain tokenized assets have reached $2.93 billion, with BUIDL accelerating its expansion into multi-chain ecosystems.
BlackRock’s U.S. institutional digital liquidity fund BUIDL has reached an on-chain assets under management (AUM) of approximately $2.93 billion, continuously hitting new all-time highs, reflecting sustained growing demand among institutional investors for tokenized U.S. Treasury products. Currently, BUIDL is deployed across multiple public blockchains including Ethereum, Avalanche, and Solana, with Securitize handling its tokenized issuance and BNY Mellon providing custody services. Data shows Ethereum remains BUIDL’s largest deployed network, holding over $1 billion in locked assets; Avalanche has seen the fastest recent growth, with its asset size doubling in a single week of July to roughly $900 million, while Solana’s on-chain assets exceed $550 million. Reports note that BUIDL primarily invests in U.S. Treasuries, repurchase agreements, and cash equivalents, maintaining a $1 net asset value (NAV) per share and offering an annualized yield of around 3% to 5%. As more DeFi protocols adopt BUIDL as collateral and liquidity assets, its use cases are expanding beyond institutional cash management to on-chain financial infrastructure. Market analysts view BUIDL’s rapid expansion as a key case of convergence between traditional finance (TradFi) and blockchain, driving continued growth in the global tokenized Real World Asset (RWA) market.
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Institutions: The strong U.S. dollar is suppressing gold prices in the short term, but may further reinforce gold’s status as a long-term reserve asset.
Gold prices have fallen roughly 25% from their year-to-date all-time high, weighed down by elevated interest rates, a strong U.S. dollar, and higher energy prices that have lifted holding costs, leaving the metal under notable short-term pressure. However, multiple market participants argue that this correction has not altered gold’s long-term investment thesis. Paul Wong, a market strategist at Sprott, attributes the recent gold decline to a stronger U.S. dollar, rising expectations of Federal Reserve rate hikes, and concentrated liquidations by quantitative funds. He notes that the current gold price drop has significantly outpaced the actual rise in the dollar and short-term interest rates, indicating that the headwinds from high rates and a strong greenback have been largely priced in. Wong points out that while a stronger dollar tends to weigh on gold in the short term, over the long run, the stronger the U.S. currency, the greater the global incentive to seek alternative reserve assets to the dollar, which in turn boosts gold’s strategic standing as a neutral reserve asset. Against a backdrop of widening global fiscal deficits, central banks’ continued gold purchases, and rising geopolitical fragmentation, gold is gradually evolving from a mere inflation hedge into a currency hedge, reserve asset, and even a potential international financial collateral. He believes that gold and the U.S. dollar could strengthen in tandem over the long term for different reasons: the dollar benefits from its core role in the global financial system, while gold benefits from the trend toward diversification of global reserve assets. However, at the cyclical level, gold prices still tend to maintain an inverse correlation with the U.S. Dollar Index.
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Wall Street is on alert for tonight's CPI "fake cool down"; bond markets have already priced in a July interest rate hike.
The US will release June CPI data at 20:30 Beijing time tonight. Market consensus expects that driven by falling gasoline prices, the overall June CPI may decline by 0.1% to 0.2% month-on-month, with its year-on-year growth rate projected to drop from 4.2% in May to 3.8%. Core CPI is forecast to rise around 0.2% month-on-month, with its year-on-year figure falling to approximately 2.8%. However, multiple Wall Street institutions argue that this inflation slowdown stems more from the pullback in energy prices, and does not mean US inflationary pressures have faded. Housing, auto insurance, travel services, and the pass-through of tariffs on goods prices may still keep core inflation sticky. Meanwhile, the bond market is further pricing in a Federal Reserve rate hike. Interest rate options data shows the implied probability of the Fed raising rates by 25 basis points in July has risen from less than 10% to around 50%, with the two-year US Treasury yield staying above 4.25%. Earlier, Fed Governor Waller stated that if core inflation rises again, a rate hike should be considered in the near term. Institutions generally believe that even if the overall CPI declines due to lower energy prices, the performance of core CPI and its sub-components will remain key to judging whether US inflation has truly peaked and the Fed’s subsequent policy path.
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Hyperliquid's contracts posted a 24-hour trading volume exceeding that of Bitcoin (BTC), making it the platform's most active asset.
On the Hyperliquid platform, the combined 24-hour trading volume of SK Hynix-related contracts SKHX and SKHY has reached $1.836 billion, surpassing BTC to become the platform’s top active asset by trading volume. Specifically, SKHX posted a 24-hour trading volume of $1.63 billion, with open interest (OI) of $635 million; SKHY recorded a 24-hour trading volume of $206 million, and its open interest stood at $101 million. As of now, SKHY still carries a roughly 26% premium over SKHX.
Circle, the company behind USD Coin (USDC), minted nearly $750 million worth of USDC on the Solana blockchain on July 13, bringing the total USDC issued on Solana in 2026 to approximately $68.26 billion, according to Onchain Lens. This significant activity highlights Solana’s growing role as a major platform for dollar-backed crypto liquidity.
USDC issuance and Solana’s positionUSDC serves a vital function in the digital asset ecosystem, facilitating trade settlement, acting as collateral in lending and derivatives, and powering tokenized real-world asset transactions. Increased minting volumes often signal shifts in capital allocation and investor sentiment across the market.
Onchain Lens reported that the latest batch of tokens was sent to the Solana address 7VHUFJHWu2CuExkJcJrzhQPJ2oygupTWkL2A2For4BmE. The growing trend of USDC issuance on Solana has been evident throughout 2026. For example, in April, Circle minted $3.25 billion of USDC on the network within a single week, executed across thirteen separate tranches of 250 million tokens each.
Circle, a global financial technology firm, is known for issuing stablecoins and providing blockchain-based payment solutions. Solana is a high-performance blockchain recognized for its speed and low-cost transactions, making it a preferred venue for both projects and traders seeking fast settlements.
Mini dictionary: Onchain Lens, a blockchain tracking and analytics platform that monitors major activity and trends in cryptocurrency networks.
Gross issuance, supply, and liquidity flowWhile $68.26 billion represents the total USDC minted on Solana this year, much of this amount does not remain on the network. According to DefiLlama, the current USDC supply on Solana is about $7.3 billion. Industry data shows that across all blockchains, total USDC supply stands near $73.5 billion.
MetricSolanaAll Blockchains2026 Gross USDC Issuance$68.26 billionn/aCurrent USDC Supply$7.3 billion$73.5 billionThis means only 10.7% of the USDC issued on Solana remains on the chain, with the remainder likely redeemed, burned, or moved to other blockchain networks as market participants adjust their strategies. Far from suggesting lost assets, these numbers indicate that liquidity is actively recycled, confirming that Solana operates as an efficient settlement layer for large-scale dollar flow.
Circle has consistently emphasized the importance of measuring USDC issuance alongside redemptions and circulating supply. The company’s transparency reports specifically distinguish between new minting, redemptions, and total supply, suggesting that issuance alone is not a complete indicator of market dynamics.
USDC is a digital dollar backed 100% by highly liquid cash and cash-equivalent assets and is always redeemable 1:1 for US dollars.
— Circle
As the ecosystem continues to evolve, these transparency measures are designed to provide greater clarity for market participants and institutional users.
Key drivers behind Solana’s USDC activitySolana remains a leading hub for digital asset trading activity, which helps explain Circle’s heavy USDC issuance on the network. Earlier this year, USDC accounted for 52% of all stablecoins held on Solana, reaching $14.7 billion in reserves. Major decentralized exchanges on Solana, including Raydium, Jupiter, and Orca, support high transaction volumes that rely on a robust stablecoin reserve for liquidity.
Circle’s expansion into institutional finance further drives USDC issuance on Solana. In June, BNY became the first institutional partner to offer direct custody and minting of USDC. The company also collaborates with global banks such as Standard Chartered, reinforcing its broader mission to integrate traditional finance with blockchain infrastructure.
The USDC reserve is primarily composed of cash and short-term US Treasury instruments, maintaining full backing and allowing users to redeem USDC 1:1 for U.S. dollars. This model has helped USDC retain its position as the world’s second-largest stablecoin by market capitalization, trailing only Tether’s USDT.
Going forward, observers are likely to focus on the speed and frequency with which newly minted USDC either stays on Solana or transitions off the chain. Solana’s prominence is increasingly measured by the scale of dollar volumes moving through its network, rather than any fixed snapshot of circulating supply.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Cardano founder Charles Hoskinson (@IOHK_Charles) has pushed back at community criticism following Japanese financial giant SBI Holdings' decision to partner with Solana for its stablecoin and real-world asset (RWA) tokenization ambitions, a move that has stoked frustration among $ADA holders.
SBI Bets on Solana for Japan's Onchain Financial Market SBI Holdings and the Solana Foundation announced SBI Solana Global on July 13, 2026, to build Japan's first onchain financial market. The partnership will see SBI R3 Japan adopt the planned trade name SBI Solana Global and pursue a new growth strategy alongside shareholders SBI Holdings and Sumitomo Mitsui Financial Group.
SBI Holdings lists supporting the issuance and distribution of stablecoins, supporting the structuring and distribution of tokenized RWAs, and developing payment infrastructure for AI agents among SBI Solana's functions. According to SBI, the platform is intended to connect Japanese financial assets with global liquidity pools.
The partnership builds on Japan's existing regulatory framework for stablecoins and security token offerings, one of the more established regimes among major financial markets.
Hoskinson: Use the Treasury, Stop Expecting IOG to Do It All Japanese financial giant SBI Holdings' move onto the Solana blockchain sparked a public clash within the Cardano ecosystem, with the corporation's announcement triggering a wave of criticism among ADA holders. Some pointed to Japan's historic role in supporting Cardano as reason enough for Hoskinson and Input Output Global (IOG) to have secured a comparable deal.
Hoskinson rejected that framing. He argued that commercial deals of this kind should be funded through Cardano's onchain treasury rather than relying on IOG or himself to deliver every institutional partnership. Hoskinson stressed that if the community wants deals on the scale of SBI, it must fund commercial initiatives itself instead of demanding solutions on social media.
The conflict has exposed a systemic challenge for Cardano. While Solana operates through aggressive, centralized foundations that directly secure integrations, Cardano is attempting to live by the rules of pure democracy, where every grant must pass through lengthy rounds of voting.
For Hoskinson, it is a manifesto: decentralization means that every token holder is now responsible for the network's commercial success, not a single prominent leader. Whether the broader $ADA community accepts that argument, and whether Cardano's treasury governance is agile enough to compete for deals at the speed that institutional partners demand, remains an open question.
Sources:
CoinDesk: SBI Holdings' blockchain initiative pivots to Solana for tokenization, stablecoin issuance
U.Today: Charles Hoskinson fires back at Cardano community after Solana's Japan deal
Finance Magnates: SBI Holdings taps Solana to build Japan's institutional onchain finance market
Kylian Mbappe is fit and ready for France’s 2026 World Cup semifinal against Spain. That’s the word from coach Didier Deschamps, who confirmed his star forward has fully recovered from the minor ankle injury he picked up during the quarterfinal win over Morocco on July 9.
Mbappe was substituted during the Morocco match as a precautionary measure after tweaking his ankle. He still managed to score his eighth goal of the tournament before leaving the pitch.
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Deschamps has since confirmed there are “no problems” with Mbappe’s fitness. The striker has participated fully in training sessions ahead of the semifinal, putting to rest any speculation about his availability.
With 20 World Cup goals across his career, Mbappe has cemented himself as one of the most prolific scorers in the tournament’s history.
Meme tokens and the Mbappe effect Unauthorized Solana-based meme tokens, including ones trading under tickers like $MBAPPE and $MBAPEPE, have seen significant spikes in trading volume that correlate directly with the forward’s on-field performances. Every time Mbappe scores, these tokens light up.
These tokens don’t represent ownership, royalties, or any contractual relationship with Mbappe. They represent the collective enthusiasm of traders who want to ride the narrative wave of the World Cup’s most electrifying player.
Why crypto traders should think twice These tokens lack any form of regulatory oversight. They are unauthorized, meaning Mbappe’s camp could issue a cease-and-desist or public disavowal at any moment, which would likely crater prices instantly. There is no underlying asset, no revenue stream, no governance structure.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
SBI Holdings and the Solana Foundation have announced a strategic partnership to develop Japan-originated on-chain financial markets.
As part of this agreement, the initiative will bring the Solana Foundation into the newly renamed SBI Solana Global. This will be, alongside SBI and Sumitomo Mitsui Financial Group (SMFG), one of Japan’s three largest banks.
The partnership will initially target JPY stablecoins, tokenized real-world assets, cross-border payments, and institutional services. It will also combine SBI’s regulatory expertise with Solana’s high-speed, low-cost infrastructure.
Source: SBI Holdings Rather than positioning blockchain against traditional finance, the initiative aims to modernize regulated financial markets. If the collaboration succeeds, it could strengthen Japan’s role as a leading hub for institutional on-chain finance across Asia.
Meanwhile, Japan is advancing regulated yen stablecoins to strengthen its digital financial infrastructure. The initiative aims to support secure, compliant blockchain-based financial services.
The partnership comes shortly after SBI advanced its JPYSC project, Japan’s first trust bank-backed yen stablecoin. These moves highlight the group’s broader push to expand regulated blockchain-based financial services.
JPY Stablecoins anchor the initiative This strategy places JPY stablecoins at the center of SBI and Solana’s long-term vision for regulated on-chain finance. Rather than serving retail payments, these assets will support institutional settlement, tokenized real-world assets, and cross-border transactions.
It also provides both familiar yen-denominated liquidity and reduces dependence on traditional settlement rails. The sustained expansion of institutional wallet activities using Solana and the continued use of their stablecoins are evidence that institutional adoption will continue to grow.
Needless to say, this has boosted the potential for more financial organizations to move their regulated payment flows to blockchain-based infrastructure. Even so, long-term success will depend on sustained transaction growth instead of issuance alone.
Ultimately, Japan’s regional ambitions now depend on execution, not policy alone. Cross-border payment activity must continue expanding.
Sustained institutional adoption and deeper liquidity will determine the partnership’s long-term impact. Stronger tokenized asset growth could position Japan as Asia’s leading regulated on-chain finance hub.
Final Summary SBI’s regulated on-chain strategy places JPY stablecoins at the center of Japan’s digital finance expansion. Institutional adoption and cross-border usage will determine the long-term success of Japan’s on-chain finance strategy.
SBI Holdings and the Solana Foundation announced a strategic collaboration on July 13 to build what they called an on-chain financial market originating from Japan, according to a joint statement filed by SBI Holdings.
As part of the deal, SBI R3 Japan, an existing subsidiary jointly owned by SBI Holdings and Sumitomo Mitsui Financial Group (SMFG), will take on the working name SBI Solana Global and pursue what the companies described as a new growth strategy, with the Solana Foundation acquiring an equity stake in the company alongside its existing shareholders.
SBI Solana Global plans to build its business around deployment on the Solana network, supporting the issuance and distribution of stablecoins including JPYSC, the yen-denominated stablecoin SBI launched last month; the structuring and distribution of tokenized real-world assets such as corporate bonds, commercial paper, funds and real estate; cross-border settlement infrastructure; on-chain financial services for institutional investors; and payment infrastructure built for the AI-agent era.
The companies said Japan's deep pools of financial assets and advanced legal framework for digital assets make it a starting point to connect Solana's network to markets across Asia and globally.
The tie-up extends a run of digital asset dealmaking SBI has pursued in rapid succession this year. The conglomerate acquired Japanese crypto exchange Bitbank for close to $289 million in June, became the sole investor in risk-management firm Gauntlet's $125 million Series C, and led EDX Markets' $76 million Series C the week prior. Layered together, the moves point to SBI positioning itself across multiple layers of digital market infrastructure at once: exchange access through Bitbank, institutional trading through EDX, risk tooling through Gauntlet, and now a dedicated vehicle for stablecoin issuance and real-world asset tokenization through SBI Solana Global.
The Solana Foundation confirmed the partnership in a post on X, describing SMFG as a globally systemically important bank and framing the deal as bringing "RWA and stablecoin markets from Japan to the world." Neither party disclosed the size of the Solana Foundation's stake in SBI Solana Global or a timeline for when the venture's products will go live.
Major altcoins in the crypto market, such as Ripple (XRP), Cardano (ADA), and Solana (SOL), are trading in the red on Tuesday, extending their 2% to 3% decline from the previous day. The technical outlook for XRP, ADA, and SOL shows a near-term bearish bias, with prices trending below their respective 50-day Exponential Moving Averages (EMAs).
XRP remains vulnerable to deeper lossesXRP nears the $1.00 psychological threshold at press time on Tuesday, maintaining a steady decline as the 50-day EMA and a declining resistance trendline capped recovery around $1.18 on July 4. XRP maintains a clear bearish configuration, heading toward the recent swing low of $1.00 from June 26.
From a technical perspective, a potential slip below $1.00 could target the 127.2% and 161.8% Fibonacci extension levels at $0.94 and $0.86, respectively, measured over the $1.29 to $1.00 downswing.
Momentum is losing strength on the daily chart, with the Relative Strength Index (RSI) at 39, reflecting a downward trend, while the Moving Average Convergence Divergence (MACD) risks crossing below its signal line as buying pressure wanes.
XRP/USDT daily price chart.On the topside, initial resistance is seen at the overhead trendline near the 50% retracement at $1.14, reinforced by the 50-day EMA at $1.15.
Cardano at risk of erasing early July gainsCardano trades in the red on Tuesday, maintaining a near-term decline over the last 10 days. The 50-day EMA at $0.1802, well below the 200-day EMA at $0.2812, keeps the altcoin capped in the short term.
The RSI at 40 has dipped below its midline, hinting at renewed downside momentum, while the MACD and signal line risk a bearish crossover amid flattening histogram bars.
On the downside, the swing low at $0.1385 from June 26 emerges as the crucial support level in sight.
ADA/USDT daily price chart.Looking up, the 50-day EMA at $0.1802 remains a key dynamic barrier, guarding the upside to the $0.2000 psychological threshold.
Solana drops below its 50-day EMA amid mounting selling pressureSolana trades below $75.00 at press time on Tuesday, keeping a bearish near-term tone as it holds beneath the 50-day EMA at $76.66 and the 200-day EMA at $97.65. From a technical perspective, the key support for SOL is at the $67.50 horizontal level, which helped trigger a rebound on June 26.
The MACD has crossed below its signal line, triggering a fresh wave of bearish histograms, while the RSI at 46 falls below the midline. Taken together, they suggest waning buying pressure as sellers regain strength.
SOL/USDT daily price chart.On the flip side, initial resistance is at the 50-day EMA near $76.63, followed by the longer-term 200-day EMA at $97.65.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Solana and SBI Holdings are entering a strategic partnership to bring advancement in Japan’s stablecoin and Real World Asset (RWA) ecosystem. Solana is a high-speed Layer 1 blockchain built to support decentralized applications (dApps). SBI Holdings acts as a Japanese financial bridge between traditional banking and digital assets. The basic purpose of this integration is to build Japan’s first on-chain financial market for stablecoins and tokenized real-world assets (RWAs).
SBI Holdings brings regulatory expertise, financial infrastructure, and institutional relationships; on the other hand, Solana Foundation aids the growth of the Solana blockchain ecosystem. Both partners have specialized abilities to minimize the dependency on traditional banking systems and take users to the peaks of digital and instant banking.
SBI Solana Global to Drive Institutional Adoption of Stablecoins and RWAs The joint venture of SBI Holdings and Solana Foundation will see SBI R3 Japan adopt the planned trade name SBI Solana Global and resume a new growth strategy with shareholders and Sumitomo Mitsui Financial Group. This news is confirmed by the company’s statement on Monday.
Furthermore, SBI Solana Global will help the issuance and division of stablecoins such as JPYSC, the group’s yen-denominated stablecoin, with the structuring and distribution of tokenized real-world assets. These RWAs include corporate bonds, commercial paper, funds, and real estate. This amalgam helps to facilitate on-chain financial services for institutional investors and develop payment infrastructure for AI agents.
Bring Blockchain Innovation to Japan’s Financial Markets The alliance of Solana and SBI Holdings combines traditional financial infrastructure with Solana’s blockchain technology. This integration plays an important role in the development of Japan in terms of stablecoins and RWAs as a daily-life utility asset and for payment. Digital assets continuously need protection, transparency, and scalability for effective and better ownership purposes.
In the history of Japan, this is the first strategic step in the development of a trusted and secure system for stablecoins and RWAs. Japanese people will be able to enjoy an advanced experience and securely deal with cryptocurrency matters. This collaboration is fully focused on providing advanced-level infrastructure for the considerable growth of the Japanese people. The world is changing drastically and always demands improvement and adaptability to innovation.
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Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
Cardano founder Charles Hoskinson has defended the ecosystem’s founding entities, particularly EMURGO, against criticism over their inability to secure major institutional partnerships.
The discussion comes after Japanese financial giant SBI partnered with Solana to develop on-chain financial markets in Japan. The announcement prompted some Cardano community members, including Depinity co-founder Welf Brandolf, to question why the network failed to secure a similar collaboration despite its longstanding ties to Japan.
However, Hoskinson rejected that argument. He acknowledged that Cardano built a strong presence in Japan during its early years but emphasized that historical relationships alone do not translate into commercial partnerships.
EMURGO Has No Mandate to Secure Commercial Deals: Hoskinson According to him, attracting institutional collaborations requires dedicated business development teams with clear objectives and funding.
Furthermore, Hoskinson stressed that neither EMURGO nor the Cardano Foundation is contractually obligated to negotiate or deliver commercial deals on behalf of the ecosystem.
He argued that if the community believes Cardano needs stronger business development efforts, it should assign that responsibility to an organization specifically funded and mandated to pursue partnerships.
Treasury Should Fund Cardano’s Commercial Expansion The latest comments come amid growing frustration over Cardano’s absence from several major industry initiatives.
For example, the network was excluded from the OpenUSD (OpenUSD) stablecoin initiative, which brought together major blockchain companies, including Ripple, Solana, Coinbase, Fireblocks, and Aave.
As criticism intensified, Hoskinson accused some Cardano Delegate Representatives (DReps) of blocking treasury proposals designed to accelerate the ecosystem’s commercialization. He argued that despite Input Output Global (IOG) submitting proposals aimed at expanding Cardano’s commercial reach, DReps have repeatedly voted them down.
Boosting Cardano Commercialization Efforts In his latest remarks, Hoskinson once again encouraged the community to take advantage of Cardano’s decentralized governance model by leveraging the network’s on-chain treasury.
He proposed creating and funding a dedicated organization responsible for commercial representation. In his view, the entity would have a clear mandate to negotiate partnerships, engage enterprise clients, and expand Cardano’s presence in strategic markets.
Meanwhile, Hoskinson’s defense of EMURGO also comes as the company continues to prioritize recovery efforts following the SecondFi wallet security incident.
After the attack, EMURGO stepped back from its role within the Pentad governance body to focus on supporting the recovery process and assisting the broader Cardano ecosystem. The company has since concentrated its resources on addressing the aftermath of the incident rather than pursuing broader ecosystem initiatives.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Goldman Sachs: Semiconductor industry fundamentals remain supported, while leveraged ETFs amplify volatility in tech stocks.
Goldman Sachs’ latest research report points out that the recent sharp volatility in global tech stocks is mainly driven by liquidity deleveraging triggered by highly leveraged transactions, rather than a deterioration in the semiconductor industry’s fundamentals. The U.S. investment bank noted that newly launched single-stock 2x leveraged ETFs in South Korea have amplified market volatility, with multiple leveraged ETFs tracking Samsung Electronics and SK Hynix once posting single-day declines of over 30% recently. To maintain their leverage ratios, the funds were forced to offload underlying stocks, creating a liquidity stampede feedback loop of "price drops → forced selling → deeper declines." Goldman Sachs estimates that around 62% of recent net selling by South Korean institutional investors comes from the liquidation of these ETFs. Meanwhile, the Leuthold Group pointed out that the U.S. margin balance has risen by roughly 54% over the past 12 months, entering a historically high range. Leveraged funds are heavily concentrated in the AI and semiconductor sectors, making the market structure more fragile. However, Goldman Sachs believes the semiconductor industry has not yet reached its cycle peak. The firm noted that earnings expectations for Samsung Electronics and SK Hynix have not been revised down. Limited expansion of memory chip production capacity means supply tightness is expected to persist until the second half of 2028, and the current pullback is more a position adjustment than a fundamental reversal of the industry.
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US government transfers nearly $300 million in crypto assets linked to fraud and money laundering cases involving BTC-e, Farace and others.
According to on-chain data platform Arkham’s monitoring, U.S. government-associated wallets transferred approximately $288 million in seized crypto assets to Coinbase Prime on Monday. The sum includes 2,875 BTC (valued at around $178 million) from the seized address linked to Ryan Farace’s "xanaxman" case, and 925.512 BTC (about $57 million) from the closed BTC-e exchange case—both were routed through newly created intermediate addresses before reaching Coinbase Prime. Separately, a wallet tied to the Brian Krewson money laundering case directly sent 30,007 ETH (worth roughly $53.09 million) to the platform. The transfer follows a March 2025 executive order signed by Trump, which mandates that seized Bitcoin for the strategic Bitcoin reserve should not be sold in principle. Notably, the funds’ transfer to Coinbase Prime does not signal a sale, as the platform provides services including custody, financing, and asset management. As of press time, U.S. government-related wallets hold approximately $20.65 billion in crypto assets, comprising 324,552 BTC, 28,394 ETH, and 145.5 million USDT. The latest transfer represents only a small fraction of their total holdings.
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Institutions: The strong U.S. dollar is suppressing gold prices in the short term, but may further reinforce gold’s status as a long-term reserve asset.
Gold prices have fallen roughly 25% from their year-to-date all-time high, weighed down by elevated interest rates, a strong U.S. dollar, and higher energy prices that have lifted holding costs, leaving the metal under notable short-term pressure. However, multiple market participants argue that this correction has not altered gold’s long-term investment thesis. Paul Wong, a market strategist at Sprott, attributes the recent gold decline to a stronger U.S. dollar, rising expectations of Federal Reserve rate hikes, and concentrated liquidations by quantitative funds. He notes that the current gold price drop has significantly outpaced the actual rise in the dollar and short-term interest rates, indicating that the headwinds from high rates and a strong greenback have been largely priced in. Wong points out that while a stronger dollar tends to weigh on gold in the short term, over the long run, the stronger the U.S. currency, the greater the global incentive to seek alternative reserve assets to the dollar, which in turn boosts gold’s strategic standing as a neutral reserve asset. Against a backdrop of widening global fiscal deficits, central banks’ continued gold purchases, and rising geopolitical fragmentation, gold is gradually evolving from a mere inflation hedge into a currency hedge, reserve asset, and even a potential international financial collateral. He believes that gold and the U.S. dollar could strengthen in tandem over the long term for different reasons: the dollar benefits from its core role in the global financial system, while gold benefits from the trend toward diversification of global reserve assets. However, at the cyclical level, gold prices still tend to maintain an inverse correlation with the U.S. Dollar Index.
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Wall Street is on alert for tonight's CPI "fake cool down"; bond markets have already priced in a July interest rate hike.
The US will release June CPI data at 20:30 Beijing time tonight. Market consensus expects that driven by falling gasoline prices, the overall June CPI may decline by 0.1% to 0.2% month-on-month, with its year-on-year growth rate projected to drop from 4.2% in May to 3.8%. Core CPI is forecast to rise around 0.2% month-on-month, with its year-on-year figure falling to approximately 2.8%. However, multiple Wall Street institutions argue that this inflation slowdown stems more from the pullback in energy prices, and does not mean US inflationary pressures have faded. Housing, auto insurance, travel services, and the pass-through of tariffs on goods prices may still keep core inflation sticky. Meanwhile, the bond market is further pricing in a Federal Reserve rate hike. Interest rate options data shows the implied probability of the Fed raising rates by 25 basis points in July has risen from less than 10% to around 50%, with the two-year US Treasury yield staying above 4.25%. Earlier, Fed Governor Waller stated that if core inflation rises again, a rate hike should be considered in the near term. Institutions generally believe that even if the overall CPI declines due to lower energy prices, the performance of core CPI and its sub-components will remain key to judging whether US inflation has truly peaked and the Fed’s subsequent policy path.
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Hyperliquid's contracts posted a 24-hour trading volume exceeding that of Bitcoin (BTC), making it the platform's most active asset.
On the Hyperliquid platform, the combined 24-hour trading volume of SK Hynix-related contracts SKHX and SKHY has reached $1.836 billion, surpassing BTC to become the platform’s top active asset by trading volume. Specifically, SKHX posted a 24-hour trading volume of $1.63 billion, with open interest (OI) of $635 million; SKHY recorded a 24-hour trading volume of $206 million, and its open interest stood at $101 million. As of now, SKHY still carries a roughly 26% premium over SKHX.
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Trump plans to strengthen control over the Strait of Hormuz, while the U.S. Strategic Petroleum Reserve has fallen to its lowest level since 1983.
US President Donald Trump said the U.S. should control and operate the Strait of Hormuz, and is considering charging passing vessels a fee equivalent to 20% of the value of their cargo to compensate for the cost of maintaining security in the strait. Separately, Trump noted that the U.S. may continue military operations against Iran, with U.S. forces carrying out airstrikes on Iran for the third consecutive night. Analysts pointed out that against the backdrop of the Strait of Hormuz’s navigation not returning to normal and the U.S. being in its summer peak travel season, the U.S. Strategic Petroleum Reserve (SPR) and commercial crude oil inventories will likely continue to decline, further supporting rises in international oil prices. In the week ending July 3, the U.S. SPR fell to 319.5 million barrels, the lowest level since 1983, and only slightly above the recommended safety floor of around 250 million barrels. Market players believe that if the Strait of Hormuz remains disrupted for a long time, even with relatively sufficient domestic crude oil supply in the U.S., global benchmark crude oil prices may continue to rise, further pushing up inflationary pressure and increasing the likelihood that the Federal Reserve will maintain high interest rate policies. Iranian Foreign Minister Abbas Araghchi responded that any party ensuring safe passage through the Strait of Hormuz should be compensated, but deemed the 20% fee rate too high.
OpenAI’s GPT-5.6 Sol Ultra is having quite the first week. The model, which launched on July 9 as part of the broader GPT-5.6 family, has already been credited with generating a complete proof for the Cycle Double Cover Conjecture, a famously unsolved problem in graph theory. It completed the task in under one hour using 64 parallel subagents.
Naturally, the crypto world responded the only way it knows how: someone launched a meme token.
What GPT-5.6 Sol Ultra actually did The GPT-5.6 model family includes three tiers: Terra, Luna, and the flagship Sol. The Sol Ultra mode is the heavy hitter, distinguished by its parallel multi-agent reasoning capability.
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On July 10, just one day after general availability, Sol Ultra tackled the Cycle Double Cover Conjecture. For the non-mathematicians in the room: this is a problem in graph theory that has stumped researchers for decades. The conjecture asks whether every graph without a specific type of edge (called a “bridge”) can have its edges covered by a collection of cycles where each edge appears exactly twice.
The prompt and resulting proof were made publicly accessible, which is notable. OpenAI is clearly signaling confidence in the output’s validity by inviting peer scrutiny rather than keeping it behind closed doors.
Sol Ultra scored 91.9% on Terminal-Bench 2.1, a benchmark designed to measure advanced reasoning. Pricing for the Sol tier sits at $5 per million input tokens and $30 per million output tokens, with Terra and Luna offering lower price points for less demanding workloads.
The Erdős connection, and the confusion Here’s where things get murky. Claims have circulated that Sol Ultra solved “Erdős problem #793” using an improved construction. The Erdős problems are a legendary collection of open questions posed by Hungarian mathematician Paul Erdős, many carrying cash bounties for solutions.
What’s verified is that earlier 2026 AI models from OpenAI worked on the Erdős planar unit distance problem. There is no confirmed, independently verified connection between GPT-5.6 Sol Ultra and a specific Erdős problem numbered 793.
The Cycle Double Cover Conjecture proof is the documented achievement. Everything else is, at this point, unverified.
Enter the meme token A Solana-based meme token called $5.6SolUltr appeared almost immediately after the GPT-5.6 launch. The token has no disclosed utility beyond its namesake association with OpenAI’s model. It does not appear to be affiliated with OpenAI in any capacity. The token shows near-zero trading volume and negligible liquidity since inception.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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The supply of non-USDC/USDT stablecoins on the Solana network has experienced a remarkable increase, growing approximately 15 times since January 2025, according to data from @tokenterminal. This escalation has brought the supply to $3.8 billion by mid-2026, although initial reports suggested a higher figure. The growth in alternative stablecoin supply reflects increased capital inflows and places Solana as a significant player in the stablecoin market, ranking third globally after Ethereum and TRON. The surge in stablecoin supply appears consistent with a broader trend of liquidity growth and network adoption.
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In response to these developments, market participants seem to be evaluating the potential impact on Solana’s native token, SOL. The current market pricing suggests a cautious outlook, with a 12.5% probability of SOL reaching $90 by the end of July 2026. The increase in non-USDC/USDT stablecoin supply may indicate growing liquidity and potential demand for SOL, influencing its price dynamics in the coming weeks.
Key Takeaways The non-USDC/USDT stablecoin supply on Solana appears to have grown significantly, suggesting increased network liquidity. Market pricing implies limited expectations for SOL to reach $90 by the end of July, with a 12.5% likelihood. The expansion in stablecoin supply may indicate enhanced capital inflows and adoption of the Solana network. What to Watch Watch for any further developments in Solana’s stablecoin ecosystem, as continued growth could influence SOL’s market dynamics. Key indicators include potential regulatory changes, technological upgrades, and shifts in broader market sentiment. Additionally, any announcements regarding new partnerships or projects on the Solana network could provide further insights into its growth trajectory and impact on SOL’s pricing.
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Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 12.5% — — View market → August 1 2026 0.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 2.2% — — View market → August 1 2026 0.9% — — View market → August 1 2026 0.9% — — View market → August 1 2026 4% — — View market → August 1 2026 0.7% — — View market → August 1 2026 15% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 60% — — View market →
When one of Japan’s largest financial conglomerates and a top-5 megabank choose to build a new on-chain finance venture on Solana, it signals more than a routine partnership. SBI Holdings, alongside Sumitomo Mitsui Financial Group (SMFG), is restructuring its existing SBI R3 Japan consortium into SBI Solana Global, with the Solana Foundation joining as a core participant. The move, first detailed in the original report, ties a major regulated financial group directly to a permissionless layer-1 network in a way few traditional institutions have attempted.
The initiative will focus on concrete financial applications: yen-denominated stablecoins, tokenized real-world assets including bonds, funds, and real estate, cross-border payment rails, and institutional-grade on-chain financial services. The partnership explicitly aims to bridge Japan’s tightly regulated financial markets with global blockchain liquidity, positioning Tokyo as a hub for on-chain finance in Asia. This is not a proof-of-concept. It is a business line pivot backed by a $300 billion banking arm.
Why Solana and Why Now SBI is no newcomer to digital assets. It operates a crypto exchange, has invested in Ripple, and runs blockchain funds. Choosing Solana for this venture, however, marks a departure from the consortium-led, enterprise-blockchain path it previously pursued with R3’s Corda. Solana’s high throughput, low fees, and growing institutional tooling make it a plausible infrastructure for asset tokenization at scale, but the network’s periodic outages have been a sticking point for risk-averse financial players. SBI’s willingness to rebrand the entity around Solana suggests a calculated bet that the network’s reliability trajectory—backed by Firedancer upgrades and validator diversity efforts—now meets institutional thresholds.
Solana has steadily gained ground in the real-world asset space. In a separate development, total on-chain RWA value recently crossed $20 billion, driven by Treasury tokenization and private credit protocols, as covered in our weekly tokenization roundup. Developer engagement on Solana also remains among the strongest across major blockchains, trailing only Ethereum and BNB Chain in recent activity rankings, according to the latest developer activity data. Those metrics likely factored into SBI’s infrastructure decision.
Stablecoins and a Regulated Yen-Rail The ambition to issue JPY stablecoins under a regulated framework is the most consequential element. Japan already has a stablecoin licensing regime, and major banks like Mitsubishi UFJ have explored their own issuance. An SBI-Solana collaboration could produce a widely used, compliant yen stablecoin that connects domestic payment systems to DeFi protocols and global settlement networks. If SMFG’s involvement extends to distribution and reserve management, the stablecoin might gain the kind of banking credibility that privately issued alternatives struggle to achieve.
Cross-border payments are another lane where the partnership may move quickly. Japan’s remittance corridors, particularly within Asia, are high-volume and often expensive. A stablecoin-based rail running on Solana’s sub-second finality could undercut correspondent banking costs, provided it meets Anti-Money Laundering and sanctions compliance standards. SBI’s experience with international money transfers through SBI Remit gives it the operational know-how to deploy something beyond a pilot.
Regulatory Wind at the Back Japan’s regulatory posture makes the timing notable. While US lawmakers wrangle over crypto legislation—with banks recently attempting to derail a major Senate bill just days before a vote (more on that here)—Tokyo offers a clearer path. The Financial Services Agency has licensed stablecoin issuers and is actively encouraging Web3 business formation. SBI’s move reads as a direct attempt to capitalize on that regulatory certainty, building a vertically integrated on-chain finance stack that includes asset origination, tokenization, custody, and payment execution under Japanese oversight.
That does not guarantee immediate market uptake. Japanese institutional investors have been cautious about DeFi yields, and retail stablecoin usage remains low relative to cash and bank deposits. The partnership will need to demonstrate clear utility—likely starting with interbank settlement or institutional bond tokenization—before it attracts broader liquidity.
What Remains Unanswered Several questions hang over the announcement. The exact timeline and capital commitment from any of the partners were not disclosed. It is also unclear how the renamed entity will handle interoperability with other networks, or what role SBI’s existing Ripple relationship might play. Solana’s ability to handle regulated issuance at scale will be tested; compliance at the protocol level remains a work in progress. And the success of a Japan-centric on-chain market depends on whether Asian institutional liquidity providers commit to using a Solana-native settlement rail over incumbent systems.
Still, the coalition behind this venture—a financial conglomerate, a megabank, and a top-tier blockchain—is unusual enough to reset expectations about how quickly wholesale on-chain finance is moving from white papers to balance sheets.
AUTHOR
Former SAP Finance consultant turned blockchain enthusiast, bringing expertise to the decentralized world. With a strong focus on decentralized systems, cryptocurrencies, and emerging innovations, Aisshwarya constantly stays updated on the latest trends and developments in the blockchain space. Through insightful analyses and thoughtful commentary, Aisshwarya aims to educate and inspire others to explore the potential of blockchain, offering valuable perspectives on its impact on the future of finance, security, and beyond.
Solana’s growth story is often told through speed, fees, and developer momentum. Address growth adds another layer, but it needs to be read carefully. A higher wallet count can be encouraging, yet it does not automatically prove that a network has deeper economic activity.
That is the right way to look at the current Solana signal. The market wants to know whether user growth is sticky, whether dApps are retaining activity, and whether validators and applications are seeing enough demand to make the network’s momentum durable.
For more details, visit the official GitHub platform.
TL;DR Solana address-growth data has returned to the discovery pack as a market signal.The useful question is whether wallet growth translates into repeat users and real application demand.The article should avoid overstating the GitHub proposal page as a direct on-chain dashboard. Address Growth Is Only The First Question New wallets can reflect real adoption, speculative farming, airdrop behaviour, or short-term campaign activity. That is why address counts are useful, but not complete. They need to be paired with fees, transactions, DEX activity, app usage, and retention.
For Solana, the positive case is that low fees and fast execution make it easier for users to keep coming back. The challenge is proving that those users are not just passing through.
What Would Make The Signal Stronger The strongest confirmation would come from broader app-level data: more users on DeFi protocols, stronger NFT or gaming activity, sustained stablecoin transfers, and fee demand that does not disappear after incentives fade.
Until then, address growth is a constructive sign, not a finished thesis. Solana has the attention. The question is how much of that attention becomes durable network value.
Why The Detail Matters Now The practical takeaway is that Solana stories now have to be read through both market structure and product execution. A headline can create attention, but the more durable signal is whether the underlying source points to real activity, a real filing, a real integration, or a measurable change in how users and institutions behave.
That is why this development is worth separating from ordinary market noise. It gives readers a specific point to track over the next few sessions rather than a vague reason to be bullish or bearish. If follow-up data confirms the direction, the story can build. If not, it still gives the market a clearer snapshot of where attention is concentrating today.
The Market Read The cleaner way to read this story is not to force it into a simple bullish or bearish box. For Solana readers, the useful part is the change in context. A new filing, integration, market signal, or regulatory step can alter how traders think about the next few sessions even when it does not instantly change price.
That is especially true after the last few volatile weeks, when crypto has been dealing with a mix of ETF flows, legal updates, exchange listings, protocol upgrades, and shifting liquidity. The market is no longer reacting to one dominant theme. It is weighing several smaller signals at once, and that makes source-backed developments more important than ordinary chatter.
Why Readers Should Keep This On The Radar For NewsBTC readers, the important question is what this changes from here. If follow-up data, filings, governance updates, or wallet movement confirm the direction, the story can develop into a larger market theme. If the next update is weak, delayed, or contradicted by new data, the market may quickly move on.
That is why the scope matters. This article is not treating the development as a guaranteed price trigger. It is treating it as a fresh signal inside a market that is trying to sort durable activity from short-term noise. The distinction is important because crypto narratives can move faster than the facts behind them.
The next thing to watch is whether this becomes part of a wider pattern. In some cases that means more institutional flows. In others it means stronger developer adoption, cleaner regulatory access, deeper exchange liquidity, or a clearer technical roadmap. Either way, the story is strongest if it is followed by measurable execution rather than another round of speculative headlines.
This article is based on Solana ecosystem materials and the source pack’s network-growth lead.
This article was written by the News Desk and edited by Samuel Rae.
Solana is maintaining its short-term support between $74 and $77, leaving open the possibility of another move toward the $87 and $100 resistance levels. Despite the current consolidation, analysts note that the broader chart pattern leaves space for a deeper correction, potentially dipping into the $30 to $52 accumulation area before a more significant recovery takes hold.
Support Holds as Buyers Absorb PressureSOL is currently consolidating after a recent rebound, indicating a period of stabilization. The daily chart suggests that buyers are actively absorbing selling pressure, allowing the broader recovery structure to remain in place. Such controlled declines have so far prevented a rapid loss of momentum among bullish traders.
At present, Solana is holding above a clear rising trendline, with price action clustered around the $77 mark. The coin continues to hover near a supportive cloud zone stretching from $74 to $77, making this range crucial for determining the next directional move in the market.
A decisive rebound from current levels could push SOL toward the major resistance at $87.20. If the price can break and sustain a position above this barrier, the next targets include $96, followed by the psychologically important $100 to $104 zone.
Strength above the $87 region could provide the momentum needed for Solana to challenge higher resistance bands, potentially opening a path toward new highs.
However, the bullish scenario remains vulnerable. If the daily chart loses the rising trendline and SOL drops below $74, this would undermine the positive outlook and increase the risk of a decline toward the upper $60 range.
Correction May Offer Long-Term Accumulation OpportunityTechnical analyst Crypto Patel pointed to the possibility of a deeper correction, referencing a three-week Solana chart formation. This setup highlights a major long-term accumulation zone between approximately $30 and $52, where longer-term investors might see an opportunity for strategic entries.
Following its drop from the $240 resistance zone, SOL now trades near $77, still well below significant barriers at $95 to $100 and $140. As a result, the wider trend has yet to turn convincingly bullish.
Crypto Patel identified a green fair value gap as a potential low-risk accumulation area. If SOL retraces into this region, it could complete the correction phase and provide patient buyers with a more compelling entry point. However, the path to recovery requires Solana to stabilize and construct a durable support base within this zone.
A recovery sequence would likely begin with a reclamation of the $95 to $100 range. Overcoming this hurdle could improve market sentiment and open the door to a further rally toward $140.
A continued move above $240 would mark a powerful shift toward a long-term bullish reversal. Nevertheless, this prospective trajectory remains uncertain, as SOL might start to recover earlier, or drop below the $30 threshold, compromising the broader bullish framework.
Mini dictionary: Crypto Patel is an independent cryptocurrency chart analyst who shares technical insights and trading ideas on platforms including X (Twitter), focusing on medium- and long-term price structures for various digital assets.
Key SOL LevelsSupport/ResistanceImplication$30 – $52Support (Accumulation)Potential entry for long-term buyers$74 – $77SupportShort-term direction depends on this zone$87ResistanceBreak could signal upside momentum$95 – $100ResistanceRecovery acceleration zone$140ResistanceConfirmation of broader trend change$240Major resistanceBreak shows long-term bullish reversalAnalysts consider the area between $30 and $52 as an important accumulation zone for SOL, where downside risk may provide patient investors with a favorable entry point if current support levels break down.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Solana secures a massive deal with SBI Holdings and SMFG to bring Japan's real-world assets, JPYSC stablecoin, and AI micropayments on-chain.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Japanese financial giant SBI Holdings continues to steer the country's conservative capital market toward public blockchains. The conglomerate has announced a strategic partnership with the Solana Foundation, under which SBI R3 Japan will shift its focus and be renamed SBI Solana Global.
The project is being developed jointly with Sumitomo Mitsui Financial Group (SMFG). The new alliance will focus on the tokenization of real-world assets (RWAs), ranging from the issuance of stablecoins, including the yen-backed JPYSC stablecoin, to the digitization of corporate bonds, commercial paper, and real estate.
BREAKING: SBI Holdings is building a Japan-led onchain financial market on Solana.
With SMFG, a G-SIB, they're bringing RWA and stablecoin markets from Japan to the world. pic.twitter.com/3RBFszoBD6
— Solana (@solana) July 13, 2026 The infrastructure will also be designed for cross-border transfers and micropayments between autonomous AI agents. The main goal is to give local Japanese financial products direct access to global capital.
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The restructuring of SBI R3 Japan marks an important precedent for traditional finance. The entity was originally created around Corda, a private enterprise blockchain. Its transition to Solana indicates that Japan's largest banks are officially shifting their priorities, with closed interbank databases giving way to public Layer 1 infrastructure because of its high throughput, low fees, and extensive developer base.
At the same time, SBI continues to follow a multichain approach. The conglomerate is not abandoning its existing partnerships. Core B2B transfers and traditional payment gateways, for example, will continue to be supported by its long-standing partner Ripple. However, to build a flexible and dynamic digital securities market, SBI required a more advanced smart contract environment, which Solana provides.
Why Solana?The choice of technological infrastructure is supported by strict market pragmatism. According to current data from rwa.xyz, Solana is now the leading alternative Layer 1 network in the RWA sector:
The network ranks third globally, with $3.3 billion in tokenized assets and 697 active projects. By comparison, Avalanche holds $2.1 billion, while Ripple's XRP Ledger accounts for $322.9 million.The presence of almost 700 active contracts gives SBI access to an established investor ecosystem, removing the need to build liquidity from scratch.State of RWA tokenization on Solana, Source: rwa.xyzWith this in context, SBI Solana Global will begin scaling the platform in Japan before expanding its infrastructure to major financial centers across Asia, with the aim of becoming the region's leading regulated Web3 hub.
JupiterExchange has expanded its activities within Solana’s ecosystem by integrating into the tokenized card market. The platform now offers “Gacha” mechanics, enabling users to pull authenticated graded Pokémon and One Piece cards onchain. Participants can compete for rewards up to $100,000. This collaboration with Solana and Collector Crypt’s (CARDS) technology aims to tap into the growing interest in tokenized collectibles, as the market has seen substantial growth, evidenced by a $7.4 million weekly revenue peak in May 2026. The CARDS token, central to this initiative, continues to bolster its market presence with significant engagement.
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Activity within prediction markets reveals a cautious optimism regarding Solana’s price trajectory. While the integration introduces new utility and potential demand, market participants are assessing its impact on Solana’s valuation. Current market pricing implies a moderate increase in optimism, with a potential 10% move anticipated, although the source’s Tier 3 status tempers the expected impact.
Key Takeaways JupiterExchange’s entry into Solana’s card market suggests increased utility for the ecosystem, consistent with potential demand for SOL. Market pricing indicates a modest increase in optimism for Solana’s price, reflecting the integration’s possible impact. The CARDS token remains a focal point, with its market cap reflecting robust engagement in the tokenized card sector. What to Watch Watch for Solana’s price activity closely, particularly in relation to the prediction that SOL may reach $90 by the end of July. Key indicators include potential inflows from new financial products and continued growth in the tokenized card sector. Developments in Solana’s broader adoption and utility could further influence market sentiment. Observers should also keep an eye on any significant announcements from Solana Labs or its partners that may impact these forecasts.
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Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 15.5% — — View market → August 1 2026 0.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1.5% — — View market → August 1 2026 0.9% — — View market → August 1 2026 0.8% — — View market → August 1 2026 4.5% — — View market → August 1 2026 0.7% — — View market → August 1 2026 12% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1.7% — — View market → August 1 2026 0.1% — — View market → August 1 2026 53% — — View market →
Bitcoin slipped below $63,000 on Monday as renewed geopolitical tensions rattled global markets and pushed oil prices sharply higher. The largest cryptocurrency fell nearly 2% over the last 24 hours to around $62,500, down from near $64,300 early Monday morning.
Solana also dropped below $76, reaching its lowest level since July 1.
The sell-off extended beyond crypto. Gold fell 1.5% to just above $4,000 per ounce, while silver declined more than 2% to around $58.50.
Oil moved in the opposite direction. Brent crude futures jumped 3.25% to around $79 a barrel after fresh U.S. and Iranian military strikes renewed fears over energy shipments through the Strait of Hormuz.
Tehran targeted U.S. facilities across the Gulf on Sunday and said it had again closed the strait. Iran's Revolutionary Guards also said they attacked U.S. military bases in Kuwait and Bahrain on Monday.
According to a Reuters report, before the conflict began in late February, the Strait of Hormuz handled roughly 20% of global daily oil and liquefied natural gas supplies. Ship-tracking data showed vessel traffic through the passage fell to a 5-week low on Sunday.
Crypto Traders Face Widespread Liquidations The market decline caught leveraged traders heavily positioned for higher prices. CoinGlass data shows 67,063 traders suffered liquidations over the past 24 hours, with total losses reaching $253.11 million. Long positions accounted for $195.60 million, while short liquidations reached $57.51 million.
Bitcoin led individual crypto liquidations with $71.92 million, followed by Ethereum at $60.04 million. Solana recorded another $5.47 million.
Bitcoin ETF Outflow Streak Finally Ends Institutional flows offered a more positive signal for Bitcoin. U.S. spot Bitcoin ETFs attracted roughly $197 million last week, marking their first weekly net inflow in 9 weeks, according to SoSoValue data. The recovery ended an 8-week outflow streak that included $2.43 billion in May and $4.5 billion in June. July has now recorded $124 million in net Bitcoin ETF inflows.
Solana ETF demand tells a similar story. Spot Solana ETFs posted their first monthly net outflow in June 2026 at roughly $790,000. July inflows have recovered to $3.65 million so far.
Ansem Sees Solana Nearly Doubling to $150 Despite the recent weakness, prominent trader, Solana advocate, and Bullpen cofounder Ansem expects $SOL to nearly double from current levels. In a Sunday X post, Ansem forecast a move toward $150 over the coming months.
He previously argued that several crypto charts were "coiling under really important levels" and said he leaned toward a bullish breakout soon.
Ansem expects $SOL to reclaim the top of its range and reach $150 as the asset begins its first sustained uptrend in more than a year.
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Large-cap cryptocurrencies are spending much of mid-2026 moving sideways. While Bitcoin has stabilized, several leading altcoins are struggling to regain momentum as higher interest rates and cautious institutional activity keep volatility under control.
That slower environment is changing investor behavior. Instead of focusing only on established assets, many market participants are exploring earlier-stage projects where new products and ecosystems are still taking shape.
MemeToro ($MT) is one of the AI-focused presales attracting attention during this period.
XRP, Ethereum and Solana Face a Slower Market Each of these major cryptocurrencies is dealing with different challenges.
XRP started July trading close to $1.04, with buyers continuing to defend the important $1.00 psychological support level. Regulatory progress has improved sentiment compared to previous years, but price momentum remains limited.
Ethereum is also moving through a period of consolidation. Most forecasts place ETH within a broad trading range between $1,596 and $2,807, reflecting steady network activity but fewer immediate catalysts for a strong breakout.
Solana continues processing the majority of memecoin activity across the market, accounting for an estimated 60% to 70% of global memecoin volume. Even so, its price has cooled as macroeconomic conditions encourage investors to reduce exposure to higher-risk assets.
As one analyst summarized:
“Macro headwinds, shifting interest rate expectations, and a general cooling of spot ETF hype have trapped major capitals like ETH and XRP in strict consolidation. Volatility is no longer rising across the board. It is concentrating hyper-locally.”
That changing environment is encouraging investors to search elsewhere for growth opportunities.
Where Some Investors Are Looking Instead When established assets spend long periods moving sideways, capital often begins exploring projects that are still in earlier stages of development.
That does not necessarily mean abandoning large-cap cryptocurrencies.
Instead, many investors diversify by adding exposure to sectors showing stronger product development, including artificial intelligence, blockchain automation, and crypto presales.
Market researchers have observed a similar trend throughout 2026, with retail attention gradually moving toward projects that combine practical utility with earlier entry opportunities before public price discovery begins.
MemeToro: A Multi-Functional SocialFi Infrastructure MemeToro ($MT) is a decentralized ecosystem built on the BNB Chain that pairs a culture-focused aesthetic with practical DeFi utility and automated token tracking tools. The platform establishes a structured infrastructure for users to engage with modern digital asset trends securely and transparently.
Autonomous Trend Tracking: The protocol integrates a custom AI agent designed to monitor social data and assist in parsing emerging market narratives. Multi-Asset Incentive Pool: Users can earn programmatic platform rewards in both native $MT and $BNB through active product participation. Integrated Prediction Framework: The environment supports dedicated prediction markets alongside traditional staking programs to optimize platform liquidity. Vetted Smart Contract Security: All core operational functions deploy via thoroughly audited smart contracts to maintain strict operational integrity. The native $MT token functions as the core utility instrument powering access to these integrated applications. While the ecosystem provides advanced tracking analytics and verified tokenomics, participants should always conduct independent research before engaging with Web3 launches.
Getting Started With Your $MT Purchase Joining the MemeToro presale takes just a few minutes through a fully verified process:
Open the Presale Page: Head to the official MemeToro site and locate the active presale link. Set Up Your Wallet: Connect a compatible wallet configured for the BNB Chain network. Choose How to Pay: Fund your purchase with BNB, ETH, USDT, USDC, or a bank card. Lock In Your Tokens: Confirm the transaction and your $MT balance updates instantly. Once you’re holding $MT, the token opens doors well beyond the sale itself. It powers platform access, settles transactions across the ecosystem, and feeds into staking pools built for long-term holders.
Diversification Looks Different in 2026 Market leadership changes throughout every crypto cycle. At times, established assets drive returns. During quieter periods, investors often begin researching sectors that are still developing products and expanding their ecosystems.
XRP, Ethereum, and Solana remain among the most important blockchain networks in the industry, and many investors continue holding them for long-term exposure. At the same time, platforms like MemeToro ($MT) represent a different part of the market by focusing on AI-powered blockchain applications rather than competing as another Layer-1 network.
As capital rotates between mature cryptocurrencies and emerging ecosystems, diversification continues to be one of the defining themes shaping the second half of 2026.
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Solana (SOL) has experienced a significant price drop, falling below the $76 mark amid a substantial $253 million liquidation event. This event was primarily driven by long positions and coincides with fresh geopolitical tensions that have introduced increased volatility to the market. The current price band for Solana is between $75.59 and $76.63, marking a reversal from previous geopolitical-driven rallies. The drop represents approximately a 1.7% to 5.6% decline over the last 24 hours and about a 5% decline over the past week. Historically, such liquidation waves have led to short-term market disruptions rather than long-term impacts on asset prices.
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Key Takeaways The $253 million liquidation wave appears to be primarily affecting long positions in the Solana market. Pricing suggests market participants may interpret the recent geopolitical tensions as a negative influence on Solana’s short-term price stability. Current market behavior seems consistent with a decrease in confidence regarding Solana reaching higher price targets in the near future. What to Watch Market participants will be keenly observing any developments in the geopolitical landscape that could further influence Solana’s price. In particular, continued volatility could be consistent with scenarios where Solana struggles to maintain stability above key support levels. Additionally, any updates from major stakeholders such as Solana Labs or regulatory bodies could provide further direction. The market’s focus will likely be on whether Solana can recover to previous support levels or if further declines are imminent.
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Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 15% — — View market → August 1 2026 0.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1.5% — — View market → August 1 2026 0.9% — — View market → August 1 2026 0.8% — — View market → August 1 2026 4.5% — — View market → August 1 2026 0.7% — — View market → August 1 2026 11.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1.7% — — View market → August 1 2026 0.1% — — View market → August 1 2026 51.5% — — View market →
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Japanese financial giant SBI Holdings' move onto the Solana blockchain has sparked a major scandal and a public clash within the Cardano ecosystem. The Japanese corporation announced the creation of an alliance to launch stablecoins and tokenize assets, triggering a wave of criticism among ADA holders.
Historically, investors from Japan provided Cardano with around 90% of its initial funding, so the community viewed the rival deal as a crushing defeat and a failure of the project's official organizations.
On X, users began demanding that Charles Hoskinson take responsibility for losing the region. The platform founder responded in the harshest possible terms. Hoskinson flatly refused to accept personal blame, accused the community of "learned helplessness," and directly stated that the era of centralized project management from a single office was over.
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Why would it be? We started there, but we need commercial representation to make these deals. If you want them, then pay for them. Use the treasury to finance an initiative and seal deals. Or have learned helplessness over social media and earn bonus points for blaming Charles
— Charles Hoskinson (@IOHK_Charles) July 13, 2026 Hoskinson's position can be reduced to a strict formula — neither he personally nor IOG has a monopoly on commercial negotiations. For major contracts, Cardano has a shared Treasury governed through on-chain voting.
Hoskinson puts the burden of growth back on token holdersHoskinson stressed that if the community wants deals on the scale of SBI, it must fund commercial initiatives itself instead of begging for solutions on social media. In response to reminders about Cardano's historical ties with Asia, he demanded that his opponents produce legal mandates.
"Who is the entity? Who has the funding and official mandate? Show me the vote or contract. You cannot randomly assign this," Hoskinson snapped.
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The conflict has exposed a systemic challenge for Cardano. While Solana operates through aggressive, centralized foundations that directly secure integrations, Cardano is attempting to live by the rules of pure democracy, where every grant must pass through lengthy rounds of voting.
For developers facing declining liquidity, the founder's position looks like an attempt to distance himself from the problem. For Hoskinson himself, it is a manifesto: decentralization means that every token holder is now responsible for the network's commercial success, not a single prominent leader.
WTI and Brent crude oil both rose more than 6% intraday, as Houthi militants in Yemen attacked a Saudi airport.
According to Bitget market data, both WTI and Brent crude oil prices rose more than 6% intraday. Reports say Yemen’s Houthi forces attacked a Saudi airport.
5 hours ago
The three major U.S. stock indexes fell across the board, with the Nasdaq Composite once dropping more than 1.3% and SanDisk’s stock plummeting over 12%.
According to Bit.com market data, U.S. stock markets continue to slump, with all three major indexes falling. The Nasdaq once dropped over 1.3%, led by tech stocks: SanDisk fell 12.28%, Western Digital and Seagate Technology both dropped more than 6%, Micron fell 5.53%, SK Hynix fell 7.6%, Intel fell over 6%, and SpaceX fell 4.36%. On the news front, Trump said he would immediately reimpose a blockade on Iran and impose a 20% fee on cargo shipments. Later, Federal Reserve Governor Waller stated that if the core inflation data released this week remains high, the Federal Reserve will need to consider raising interest rates in the near term. Waller noted that the recent rise in core inflation is a cause for concern, with tariffs, rising energy prices, and demand for AI investment being the main factors driving up inflation.
5 hours ago
Waller sets tone on Tuesday's CPI: Hot inflation will support near-term interest rate hikes.
Federal Reserve Governor Christopher Waller said Monday that the U.S. Federal Reserve may need to raise interest rates in the near term if future data shows inflation remains well above the 2% target, describing current monetary policy as being at a crossroads. Waller noted that the path forward will be determined by new data such as the CPI report to be released Tuesday, adding that if data trends turn unfavorable, the Fed is currently in a phase where it should not slack off. Waller stated: "At the current policy level, inflation still has a chance to gradually fall back to the 2% target. But I am equally concerned about the opposite scenario: data in the coming weeks will show inflation remaining at high levels or even continuing to rise, which would require tighter monetary policy in the near term." He specifically noted that he is concerned recent inflation reports show price pressures appear to be broadening across the economy, beyond the impacts of last year’s import tariff hikes or recent energy cost increases, which may reflect broader systemic inflation and would require tighter monetary policy. Waller added: "If this week’s core inflation rate comes in hot again, the Federal Open Market Committee (FOMC) will have to consider tightening monetary policy in the near term. It will take months of sustained lower inflation data to confirm that inflation is moving in the right direction." (Jinshi)
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Mizuho: Circle’s Approval by U.S. National Trust Bank Fails to Alter Its Fundamentals, USDC Still Faces Growth and Competitive Pressures
Japanese investment bank Mizuho stated that Circle’s final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish the First National Digital Currency Bank is a positive development, but it does not address the firm’s core current challenges. Mizuho maintains a "neutral" rating on Circle, warning that the market’s reaction to this positive news may be overly optimistic. The firm notes that since March this year, USDC’s circulating market capitalization has fallen by roughly $70 billion to around $740 billion, a sign of slowing growth momentum that could weigh on Circle’s transaction revenue and reserve earnings. Additionally, Mizuho highlights that Open USD (OUSD), a stablecoin complying with the GENIUS Act and launched by over 140 financial and tech firms including Mastercard, Stripe, and Coinbase, is intensifying market competition. As more consortium-based stablecoins emerge, the stablecoin sector may become more homogeneous, making it increasingly difficult for Circle to retain its competitive advantage.
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Brent crude oil breaks through $80 per barrel, rising 5.35% on the day.
According to Bitget market data, Brent crude oil has broken through $80 per barrel, rising 5.35% intraday; WTI crude oil is up more than 5.7% on the day, currently trading at $75.45.
5 hours ago
Waller: If the AI bubble bursts or sees a sharp correction, financial conditions will undergo significant changes.
Fed Governor Christopher Waller said that if an AI-related asset bubble bursts or the market experiences a sharp correction, financial conditions will undergo "considerable changes." Waller noted he does not want the Federal Reserve to raise interest rates prematurely to avoid triggering a recession, but also emphasized that the Fed must not repeat the mistake of being slow to respond to inflation in 2021. He believes the current labor market remains stable, and there are "credible reasons" to expect inflation to continue falling without further policy tightening. However, Waller warned that relying solely on market expectations of inflation declining is insufficient to justify the Fed holding pat. If the Fed waits until market confidence fades to act, it may have to raise interest rates more aggressively to catch up with inflation. "We cannot afford to turn a blind eye to inflation until it is completely gone," he said.
Japanese financial services leader SBI Holdings has announced a major initiative with the Solana blockchain, forming an alliance intended to support the launch of stablecoins and asset tokenization. This move has stirred controversy and discontent in the Cardano ecosystem, especially among dedicated ADA investors.
SBI’s partnership ignites backlash among ADA holdersSBI Holdings is one of Japan’s most prominent financial institutions, known for its strong presence in banking, securities, and digital asset sectors. Its decision to collaborate with Solana has been seen by many Cardano supporters as a significant setback, given Japan’s vital historical role in funding Cardano during its early phases.
Approximately 90% of Cardano’s original capital reportedly came from Japanese investors. Since then, the region has been central to the platform’s identity and ambitions. The new partnership with Solana caused some ADA holders to question the strategies and effectiveness of Cardano’s leadership, raising concerns about missed opportunities for the network.
Many in the community interpreted the development as a “crushing defeat” and demanded to know why Cardano’s leading organizations had not secured a similar deal. This frustration led to an outpouring of reactions on social media, particularly on X, where platform founder Charles Hoskinson came under direct criticism.
Charles Hoskinson responds with strong statementsCardano founder Charles Hoskinson, who also leads Input Output Global (IOG), was quick to address the wave of criticism targeting him and the organization. He unequivocally rejected claims of personal responsibility for the SBI deal, suggesting that the Cardano community was exhibiting “learned helplessness” and emphasizing that the era of centralized dealmaking from a single office was over.
Hoskinson clarified that neither he nor IOG holds exclusive rights to commercial partnerships for Cardano. Instead, he pointed to Cardano’s decentralized governance, which channels major funding and business proposals through its Treasury system and requires on-chain community votes for approval.
In an exchange on X, Hoskinson challenged his critics to provide clear evidence of legal authority or official mandates authorizing such negotiations. He stated, “Who is the entity? Who has the funding and official mandate? Show me the vote or contract. You cannot randomly assign this.”
Debate spotlights Cardano’s decentralized structureAccording to Hoskinson, if Cardano’s supporters want to match deals like SBI’s Solana collaboration, they must organize and fund similar initiatives through formal proposals, not rely on central figures. In his view, decentralization places the burden for commercial growth on every token holder, not just project founders.
This approach stands in contrast to Solana’s strategy, which involves a more aggressive, centralized foundation actively brokering partnerships and securing integrations. Cardano’s reliance on direct democracy, with community-led voting determining grant allocations, can result in slower responses to new opportunities and competitive developments.
For some developers and investors coping with reduced liquidity, Hoskinson’s response was interpreted as an attempt to step back from direct responsibility. For Hoskinson, however, the message was clear: Cardano’s destiny now lies with its global token holders, empowered by a system designed to avoid single-point failures or central control.
Mini dictionary: Input Output Global (IOG) is the engineering and research company founded by Charles Hoskinson, focusing on the development of Cardano and other blockchain projects.
NetworkGovernance ModelPartnership ApproachRecent Major DealCardanoOn-chain community votingDecentralized, proposal-basedN/A (no recent Japan partnership)SolanaFoundation-centricCentralized decision-makingSBI Holdings partnershipDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Solana has emerged as the leading blockchain in dApp revenue, generating over $18 million in the past week, according to data from @SolanaFloor. The report highlighted that Solana’s decentralized applications (dApps) outperformed those on other blockchains, marking the ninth consecutive quarter of Solana’s dominance in this metric. The top revenue contributors were @pumpfun, @Collector_Crypt, and @pacifica_fi, with a strong showing in memecoin launches and consumer applications. This substantial revenue generation suggests sustained high activity on the Solana network, despite broader market volatility.
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In the prediction markets, the performance of Solana’s dApps is seen as a potential indicator of Solana’s market prospects, with the data appearing to influence investor sentiment. The market for Solana reaching $90 in July is currently priced at 14% YES, reflecting a shift in optimism. This follows the report from @SolanaFloor, which some market participants interpret as a positive indicator for Solana’s financial trajectory.
Key Takeaways Solana’s dApps generated over $18 million in revenue last week, outperforming other blockchain platforms. Market pricing suggests this revenue surge may influence Solana’s market performance positively. Top contributors to the revenue were @pumpfun, @Collector_Crypt, and @pacifica_fi, indicating robust activity in specific sectors. What to Watch Market participants are closely monitoring further developments in Solana’s dApp ecosystem and overall network activity. Any continuation of high revenue generation could further influence market sentiment and pricing. Key indicators to watch include the deployment of the Alpenglow upgrade and potential financial product approvals by the SEC. These factors could significantly impact Solana’s competitive position and pricing dynamics in the coming weeks.
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Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 13% — — View market → August 1 2026 0.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1.8% — — View market → August 1 2026 0.8% — — View market → August 1 2026 0.8% — — View market → August 1 2026 4% — — View market → August 1 2026 0.7% — — View market → August 1 2026 13% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1.6% — — View market → August 1 2026 0.1% — — View market → August 1 2026 55.5% — — View market →
Japanese financial giant SBI Holdings and the Solana Foundation have partnered to build an onchain financial market in Japan, with plans to connect the country's financial assets to liquidity across Asia and global markets.
The strategic collaboration will focus on stablecoins and tokenized real-world assets, while also developing financial infrastructure for institutional investors, cross-border settlement and AI agents.
SBI Solana Global to Lead Onchain Expansion As part of the collaboration, SBI plans to rename ‘SBI R3 Japan', a company backed by SBI Holdings and Sumitomo Mitsui Financial Group, to ‘SBI Solana Global’ and pursue a new growth strategy centered on deploying financial infrastructure on the Solana network.
The company will support the issuance and distribution of stablecoins, including SBI's yen-denominated $JPYSC stablecoin. It will also help structure and distribute tokenized corporate bonds, commercial papers, funds, and real estate.
Beyond asset issuance, SBI Solana Global plans to develop cross-border settlement infrastructure and provide onchain financial services for institutional investors. The company also identified next-generation payment infrastructure for the AI-agent era as another focus area.
SBI said the business will provide integrated support across technology, issuance, distribution and settlement as it works to grow an onchain financial market from Japan.
Partnership Follows $JPYSC Launch The announcement comes roughly 3 weeks after SBI launched $JPYSC, Japan's first trust bank-backed yen stablecoin, on June 24. $JPYSC gives SBI an existing stablecoin product that could play a role in the new financial market. SBI Solana Global specifically named the stablecoin as one of the assets it plans to support for issuance and distribution.
The partnership also comes as stablecoins and RWAs gain a larger role in global financial markets. Onchain finance allows market participants to issue, distribute, and settle financial assets through blockchain networks.
SBI and the Solana Foundation aim to combine Japan's large pool of financial assets and established market participants with Solana's global network. The partners believe this could link Japan's domestic market more directly with global liquidity and strengthen the country's position as an onchain finance hub in Asia.
Japan Pushes Crypto Deeper Into Traditional Finance Japan has spent recent years developing a regulatory framework that brings stablecoins and digital assets closer to its mainstream financial system. On April 10, the Japanese cabinet approved a bill that would classify crypto assets as financial instruments. The House of Representatives advanced the bill in June, and the legislation could take effect next year if it clears the House of Councillors.
The proposed framework would place crypto under a regulatory regime similar to stocks, introducing stricter trading rules. It could also pave the way for more favorable tax treatment. Japan could reduce the maximum tax rate on crypto gains from 55% to a flat 20%, bringing it in line with the rates on stocks and bonds.
The regulatory shift creates a notable backdrop for SBI and Solana's plans to develop regulated onchain financial infrastructure in the country.
Solana Foundation Expands Its Footprint Across Asia The SBI partnership adds to a series of recent Solana Foundation initiatives across Asia. In late June, South Korea's KG Financial signed a memorandum of understanding with the Solana Foundation to bring stablecoin payments to its merchant network.
A day earlier, Toss Bank announced a strategic partnership with the foundation to test blockchain-based global remittance and settlement infrastructure.
Earlier in June, Kazakhstan's Alatau City also signed an agreement with the Solana Foundation to develop the city's innovation ecosystem, support technology startups, implement digital solutions, and train blockchain specialists.
SBI and the Solana Foundation now plan to use Japan as a base for deeper collaboration across Asia and global markets. Their latest partnership shifts the focus beyond individual blockchain products toward building financial infrastructure that could connect stablecoins, tokenized assets and institutional capital onchain.
Read More on SolanaFloor Solana Slips Below $76 as $253M Liquidation Wave Hits Traders Amid Fresh Geopolitical Tension
Circle's $USDC’s Grip on Solana Slips to 46% as $USDT and Rivals Gain Ground
Robinhood Chain (@RobinhoodCrypto) is barely two weeks old and it is already out-trading Ethereum by daily decentralized exchange volume. According to @DefiLlama data, the chain cleared $808 million in 24-hour DEX volume, placing it third across every blockchain, behind only Solana and BNB Chain.
A record debut for a brand-new chain Since launching its mainnet on July 1, Robinhood Chain has generated $3.1 billion in decentralized exchange trading volume over its first week, making it a top-five chain by DEX activity. On some days, it ranked third in 24-hour DEX volume across all chains, behind only Solana and BNB Chain. The network achieved all of this against a comparatively thin base: just $145 million in total value locked and around 36 protocols at the time of the milestone.
Robinhood launched the public mainnet of Robinhood Chain on July 1, an Ethereum layer-2 blockchain built on Arbitrum that is designed for tokenized real-world assets and decentralized finance. Day-one partners included Uniswap, deploying a dedicated AMM as the primary public liquidity protocol, alongside deep integrations from Alchemy, BitGo, and Chainlink, with fast block times and out-of-the-box lending and borrowing.
Built for stocks, filled with memecoins While the network was introduced as an Ethereum layer-2 focused on tokenized stocks and real-world assets, early on-chain activity was overwhelmingly concentrated in a handful of newly launched memecoins. A significant chunk of that activity came from an unlikely source: a memecoin called Cash Cat, which alone drove roughly $98 million in 24-hour trading volume on July 8. Robinhood Chain memecoins carried a combined market capitalization of about $254 million and generated more than $658 million in 24-hour trading volume.
Per @DefiLlama, real-world assets account for roughly 4% of the chain's activity. Bernstein analyst Gautam Chhugani noted that about 65,000 users now hold $13 million in tokenized stocks and $300 million in stablecoins on the chain. While early trading has been driven by memecoins, Bernstein expects Robinhood to increasingly focus on tokenized real-world assets, including stocks and commodities, alongside perpetual futures.
Despite the impressive start, questions remain over the network's long-term sustainability. Critics have raised concerns about the chain's centralized architecture, including reliance on a single sequencer, as well as transaction failures during periods of heavy demand. Others argue that sustained success will depend on whether Robinhood can transition from memecoin-driven speculation to deeper liquidity for tokenized stocks and other real-world assets.
Sources:
The Block: Robinhood Chain draws over $3 billion in weekly DEX volume, Bernstein
CoinDesk: Robinhood Chain scores strong debut, Bernstein says
Robinhood Newsroom: Robinhood Chain Public Mainnet announcement
TLDR: The SBI Solana partnership will create a Japan-focused platform for yen stablecoins, tokenized assets, institutional settlement, and cross-border payments. The Solana Foundation will acquire an equity stake in SBI R3 Japan, which is expected to become SBI Solana Global after corporate approvals. The venture plans to tokenize corporate bonds, commercial paper, investment funds, and real estate while linking Japanese assets with global liquidity. Important commercial details remain undisclosed, including the equity stake size, individual product launch dates, fees, and expected revenue. SBI Holdings has formed a strategic alliance with the Solana Foundation to develop an institutional blockchain market in Japan. The SBI Solana partnership will support yen stablecoins, tokenized assets, cross-border payments, and on-chain settlement services.
Under the agreement, the Solana Foundation will take an equity stake in SBI R3 Japan. The company plans to rename the unit SBI Solana Global after completing standard corporate procedures.
BREAKING: SBI Holdings is building a Japan-led onchain financial market on Solana.
With SMFG, a G-SIB, they're bringing RWA and stablecoin markets from Japan to the world. pic.twitter.com/3RBFszoBD6
— Solana (@solana) July 13, 2026
Existing shareholders SBI Holdings and Sumitomo Mitsui Financial Group will stay involved. Financial terms, product launch dates, and revenue targets have not been disclosed. SOL traded 3.52% lower as the announcement entered the market.
SBI Solana Partnership Sets Institutional Market Structure The new company will combine SBI’s financial network with Solana’s public blockchain infrastructure. The SBI Solana partnership aims to move selected Japanese financial products onto open blockchain rails under institutional controls.
Japan already has established rules for stablecoins and security token offerings. Stablecoins fall under the Payment Services Act, while tokenized securities operate within existing disclosure requirements. That framework gives the venture a regulated base for developing products tied to domestic assets.
Solana brings fast settlement, low transaction costs, and access to global blockchain liquidity. SBI brings distribution channels, regulated entities, and relationships across Japan’s financial sector. The structure could help institutions issue, trade, and settle assets without building separate blockchain systems.
The Solana Foundation will join SBI Holdings and Sumitomo Mitsui Financial Group as a shareholder. The expected SBI Solana Global name marks a shift from enterprise blockchain work toward public network infrastructure. The size of the foundation’s stake has not been released.
The SBI Solana partnership also seeks to connect Japan-originated assets with overseas investors and payment networks. That plan may expand the reach of regulated yen products beyond domestic trading venues. Distribution arrangements across SBI group companies remain undecided.
Tokenized Assets and Yen Stablecoins Lead the Roadmap Stablecoins form the first part of the plan. SBI Solana Global expects to support the issuance and distribution of JPYSC and other yen-denominated tokens. These assets could serve payments, trading, treasury operations, and settlement between institutions.
Tokenized assets form another major area. The partners plan to place corporate bonds, commercial paper, investment funds, and real estate interests on Solana. The SBI Solana partnership could give issuers faster settlement and broader access to investors, depending on final product structures.
Cross-border infrastructure will link Japanese assets with global liquidity pools. SBI also plans institutional services that use blockchain for issuance, transfers, recordkeeping, and settlement. Specific products, fees, and market access rules have not been announced.
A fourth focus involves payment systems for AI agents. These systems would allow automated software to send and receive payments under defined controls. SBI has not provided a launch date or technical design for the service.
The venture follows other digital asset projects across the group. SBI has worked on regulated yen stablecoin, stablecoin distribution, tokenized asset trading, and possible exchange expansion. The SBI Solana partnership brings those efforts onto one public blockchain platform. SBI has not named the group company that will distribute the first products.
SBI Holdings has entered into a strategic partnership with the Solana Foundation to develop a blockchain-based financial infrastructure led out of Japan. The collaboration aims to create a regulated platform that will enable the issuance of yen stablecoins, tokenized assets, institutional settlement, and cross-border payments, targeting both domestic and global markets.
Solana Foundation acquires stake, partnership structure revealedAs part of the agreement, the Solana Foundation will acquire an equity stake in SBI R3 Japan, a subsidiary of the financial conglomerate SBI Holdings. Following routine corporate procedures and approval, the unit will be renamed SBI Solana Global. SBI Holdings will maintain its position as a principal shareholder, joined by Sumitomo Mitsui Financial Group, one of Japan’s largest banking institutions, which will also retain its involvement.
The deal marks a significant step for all parties, as SBI Holdings is one of Japan’s leading financial service groups with interests spanning banking, securities, and asset management. The Solana Foundation is a non-profit dedicated to supporting the growth and adoption of the Solana public blockchain, a network known for its high throughput and low transaction costs.
SBI Holdings is building a Japan-led onchain financial market on Solana in partnership with Sumitomo Mitsui Financial Group, aiming to bring regulated asset and stablecoin markets from Japan to a global audience.
Financial specifics, stakeholder percentages, and detailed terms of the agreement have not been disclosed. The announcement coincided with a 3.52% dip in the price of SOL, the native token of the Solana network.
Japan regulatory framework underpins product roadmapJapan already has established regulations governing stablecoins and security token offerings. Yen-pegged stablecoins operate under the Payment Services Act, while tokenized securities must comply with conventional disclosure requirements. These frameworks are expected to provide a clear regulatory foundation for the SBI Solana venture as it seeks to bring traditional assets onto blockchain networks.
Solana will contribute its robust blockchain infrastructure, giving institutional players rapid settlement, affordable transaction costs, and direct access to global liquidity pools. SBI brings its distribution channels, access to regulated markets, and extensive relationships across the Japanese financial sector.
The new venture expects to connect Japanese-origin assets and yen stablecoins to overseas investors and payment networks. Distribution details across the broader SBI group remain undecided.
Mini dictionary: Solana Foundation, a non-profit organization established to accelerate the adoption, growth, and security of the Solana blockchain globally. The Solana public blockchain is recognized for its speed, low fees, and scalability, making it suitable for institutional and retail applications.
FeatureSBI HoldingsSolana FoundationMain RoleRegulated financial services, distribution, and product designPublic blockchain infrastructure and global liquidityFocus AreaJapanese financial assets, yen stablecoinsOnchain settlement, tokenized assetsShareholdingRemains principal shareholderAcquires equity stake in SBI R3 JapanFirst products: Yen stablecoins and tokenized assetsSBI Solana Global plans to support both the issuance and distribution of JPYSC and other yen-denominated tokens. These stablecoins are intended for use in payments, trading, treasury operations, and institutional settlements.
In addition, the venture aims to tokenize a range of assets, including corporate bonds, commercial paper, investment funds, and real estate. These products could benefit from faster settlement times and an expanded pool of investors globally, as permitted by regulatory structures.
Beyond stablecoins and tokenized assets, the initiative will support blockchain-based institutional services covering asset issuance, transfer, recordkeeping, and settlement. While the specific lineup of products, associated fees, and detailed user access rules are yet to be announced, the collaboration appears poised to bridge Japan’s regulated asset markets with international blockchain participants.
Another area of focus will be payment solutions for AI agents, which would enable automated software to conduct transactions under predefined rules. Technical details and launch timelines for these features have not been shared.
The SBI Solana partnership brings the group’s prior digital asset initiatives onto a unified public blockchain platform, advancing regulated yen stablecoin and tokenized asset services beyond their previous separate pilots.
SBI Holdings has yet to specify which company within the group will handle initial product distribution as the venture continues to develop its market strategy.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Solana (SOL) is currently trading near $76.33 following a modest rebound of 0.41% over the past 24 hours, as the cryptocurrency hovers near a critical support range. The $73 to $76 zone continues to play a decisive role in the ongoing market dynamics, with traders closely monitoring its ability to hold this level for any signs of further bullish momentum.
Key support levels and trendlines in focusThe $73 to $76 region serves as a short-term support base for Solana. If the price drops below $73, downside risk could increase, especially if broader market weakness accelerates. For bulls, maintaining support above this level is essential to prevent a reversal in sentiment.
Technical analysts are also paying attention to a long-term downtrend line that has capped price rallies for several months. Crypto trader Jesse Peralta observed that SOL is now testing this resistance, and a confirmed breakout could shift the near-term trend in the asset’s favor.
Jesse Peralta highlights that Solana is closely pressing against its multi-month downtrend resistance, and a breakout above this structure could quickly shift the technical outlook in favor of buyers, targeting $90 and $100 as the next hurdles.
However, if the breakout attempt fails and price reverses below support, the recovery could lose steam. That keeps the $73 to $76 range as the linchpin for Solana’s next move.
Wyckoff accumulation and on-chain activity support bullish caseAnalysts have identified signs of a Wyckoff accumulation pattern in Solana’s recent price action. An independent trader, Seth, shared a chart suggesting SOL may have completed a prolonged selling phase, formed a support base, and is now attempting a sustained recovery.
Mini dictionary: Wyckoff accumulation, a phase in the Wyckoff method describing how large players gradually build positions after a downtrend, often resulting in sideways price action before a new upward trend begins.
Seth’s analysis indicates that SOL could be transitioning from a base-building phase to a potential breakout period, provided the current support range holds and buying interest continues to increase.
This potential setup often leads to extended sideways movement before a pronounced breakout. The successful defense of the support range is seen as critical for a continuation towards $90 and, if confirmed, $100.
On-chain activity is also adding to the optimistic outlook. Circle recently minted 250 million USDC on Solana, which has drawn additional attention to the network and suggested robust liquidity conditions.
Mini dictionary: Circle, a financial technology company, operates the popular stablecoin USDC, which is widely used for crypto trading and payments across multiple blockchains such as Ethereum and Solana.
Substantial USDC transactions on Solana are often interpreted as a sign of healthy network activity. While not a guarantee of an immediate price rally in SOL, stronger liquidity is viewed as supporting conditions for further upside if technical signals align.
Price targets: $90, $100, and $150Market participants have started looking towards higher resistance areas if the recovery builds momentum. Crypto trader Crypto Patel identifies $80 as the first level SOL must reclaim, followed by $90 and $100 as subsequent targets. He noted that Solana’s current position near a high-reward accumulation zone could pave the way for a move toward $150 if strength continues above these intermediate resistances.
However, traders remain cautious, emphasizing that $150 is not immediately within reach. The sequence of reclaiming $80, breaching $90, and securing a position above $100 is required before larger upside targets come into play.
LevelStatusSignificance$73 – $76SupportCritical for short-term bullish momentum$80Minor resistanceFirst step for a bullish breakout$90Major resistanceKey test for trend continuation$100TargetPotential turning point for broader rally$150Extended targetAspiration if prior resistances are clearedFor now, keeping price above support and reclaiming the $80 level are seen as crucial for confirming a change in direction. Traders are likely to remain vigilant until a definitive move materializes.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
SK Hynix just pulled off the biggest US listing ever by a foreign company. Then its stock dropped more than 9% the very next day.
The South Korean memory chip giant’s American Depositary Receipts debuted on NASDAQ on July 10 after raising approximately $26.5 billion, pricing 177.9 million ADRs at $149 each. On day one, shares opened between $170 and $173, a gain of roughly 13-15% from the issue price. On day two, the market pulled back hard, with shares declining more than 9%.
A record-breaking debut meets gravity SK Hynix’s $26.5 billion raise eclipsed Alibaba’s 2014 IPO, which had held the crown for over a decade as the largest US listing by a foreign company. The offering was oversubscribed more than seven times. SK Group Chairman Chey Tae-won attended the opening ceremony on NASDAQ. SK Hynix is one of the world’s leading producers of high-bandwidth memory chips, the silicon that makes modern AI systems actually work.
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Tokenized shares hit Solana On the same day as the day-two selloff, SK Hynix launched tokenized versions of its shares, branded as xStocks under the ticker SKHYx, on Solana and other blockchain platforms.
This allows trading of a blockchain-based representation of SK Hynix equity on decentralized infrastructure, 24/7, without needing a traditional brokerage account.
Why this matters for AI and crypto investors SK Hynix’s high-bandwidth memory chips are essential components in the GPU clusters that power large language models and autonomous driving systems. The seven-times oversubscription of this offering signals continued institutional appetite for AI hardware exposure.
For crypto-native investors, the tokenized share launch creates a pathway into AI infrastructure exposure without leaving the blockchain ecosystem. The product is available on Solana, which has been positioning itself as a chain for tokenized assets and high-throughput financial applications.
What investors should watch now is whether trading volume on the tokenized SKHYx shares builds meaningful liquidity, or whether the product remains a curiosity. If on-chain volume starts to represent even a small fraction of NASDAQ trading activity, it would validate the thesis that tokenized equities are moving from concept to infrastructure.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
