Tokenized-asset trading volume on Solana surged to $5.8 billion in Q2 2026, representing a 114% increase quarter over quarter. The jump was primarily driven by tokenized equities, which accounted for $4.8 billion, or 84% of the total volume. Despite the growth in trading, Solana’s network revenue fell by 43% during the same period.
Solana processed approximately 97% of tokenized-equity trading across all blockchains in Q2 2026. The rise in trading volume contrasts with a sharp decline in overall decentralized exchange activity, which saw spot volume drop to $160.8 billion, down 44% from $288.5 billion in Q1 2026. Solana retained 32% of the spot decentralized exchange volume despite this downturn.
The decline in network revenue suggests that the increase in trading activity did not translate to greater fee demand. The capital-markets ecosystem on Solana expanded more rapidly than the revenue generated from that activity. This disconnect was highlighted by the fact that while trading volumes increased, the network did not benefit financially in the same way.
In June 2026 alone, Solana recorded $3.3 billion in equity volume, bolstered by the tokenized listing of SpaceX following its public offering on June 12. Additionally, private credit contributed $803 million to the tokenized-asset trading volume in Q2 2026.
On July 10, 2026, tokenized exposure to SK Hynix was launched on Solana through platforms including Backpack Securities, xStocks, and Ondo Finance. These products provide diverse economic exposure through varying legal and custody structures.
Despite the challenges in network revenue, Solana’s SOL price has shown signs of recovery after rebounding from June lows. However, it has struggled to reclaim the $79 resistance level and is currently viewed as being at a critical juncture, with analysts suggesting a potential rise to $93. The lower boundary for the price consolidation is set at $76.
