Calma

update: after careful deliberation from the team in the last 24 hours @Backpack has made the decision to stay on @solana This tactful pivot was made lightly. Our sincere appreciation goes out to the Solana foundation and community for their continued support.

update: after careful deliberation from the team in the last 24 hours world has made the decision to migrate off of solana and onto @RobinhoodCrypto chain this tactful pivot was not made lightly our sincere appreciation goes out to the solana foundation and community

I wanted to understand why Solana spot volume has been growing, and honestly, the answer was not what I expected. The obvious assumption is memecoins, because that’s been the main Solana narrative for idk how long now? Like 4 years? But anyways, the bigger story here is that a lot of the recent volume is actually coming from tokenized assets. Tokenized asset spot volume on Solana grew from ~$2.69B in Q1 to ~$5.7B in Q2, which was a new quarterly ATH. And @Solana captured 97% of cumulative onchain tokenized equities spot volume in May, while its broader RWA ecosystem hit $2.8B+ and crossed 230K onchain RWA holders. On top of that, June made it even clearer. During the week of June 15–21, Solana processed ~95% of global tokenized stock volume, and daily tokenized equity trading later hit a $644M record. Funny enough, at one point, tokenized equities even passed memecoins as a share of Solana spot volume. This is probably the most refreshing Solana volume story in a while IMO because there’s actual retail-style trading happening around assets people already understand, like stocks and ETFs, but on faster crypto rails. IMO, memecoins aren’t going away because they’re still a huge part of Solana. But I think the more interesting shift is that Solana is starting to look more like a general-purpose spot market for crypto, RWAs, stablecoins, and tokenized equities. Also, I noticed some Solana prediction markets have been popping up lately, so I might do a post on that next and see how that impacts this.