BNB
Solana leads network revenue despite recent drop in token price
Solana generated $6.54 million in weekly network revenue and saw tokenized stock holders reach 1.4 million, even as SOL fell 15% over three weeks.
Solana generated approximately $6.54 million in network revenue between 12 and 18 October, leading all layer-1 and layer-2 blockchains for the fifth consecutive week. The figure surpassed BNB Chain at $3.23 million, Ethereum at $2.87 million, and Bitcoin at $1.5 million, accounting for roughly 38% of the $17.31 million generated across all networks. However, overall industry revenue has declined over the past month.
Alongside revenue, adoption of tokenized equities on the network grew rapidly. According to Blockworks data, around 1.4 million wallet addresses held at least one tokenized stock product, nearly tripling from under 500,000 at the start of September. Wallet totals had grown slowly earlier in the year, rising from 100,000 in late 2025 to just below 300,000 by July 2026.
Despite on-chain activity, SOL fell 15% from near $122 in early October to $104, after peaking at $125 in late September. Technical momentum weakened over the period, with the Relative Strength Index dropping to 38 from over 80 in August, and the Chaikin Money Flow shifting from 0.27 to -0.14.
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