Solana
Solana records $6.54 million in weekly fees while token price drops 15%
Solana topped blockchain fee rankings and saw tokenized stock holders reach 1.4 million, even as SOL fell from $122 to $104 in under three weeks.
Solana generated $6.54 million in network revenue during the week of 12 to 18 October, securing the highest earnings among all layer-1 and layer-2 blockchains for five straight weeks. It surpassed BNB Chain's $3.23 million, Ethereum's $2.87 million, and Bitcoin's $1.5 million, capturing 38% of the $17.31 million collected across all networks despite an industry-wide monthly downtrend in total revenue.
On-chain metrics also showed a significant increase in tokenized stock ownership. Blockworks data indicates that 1.4 million wallet addresses held tokenized equities, nearly tripling from under 500,000 at the start of September. This follows an increase from around 100,000 in late 2025 to near 300,000 in July 2026.
Despite network activity, SOL fell 15% from near $122 to $104 over three weeks, pulling back from a late September high of $125, though remaining almost 70% above its June baseline. Technical indicators signaled waning momentum, with the RSI dropping to 38 from an August peak above 80 and the Chaikin Money Flow falling to -0.14.
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