Solana briefly tops NYSE in weekly trade count, Fidelity says

Fidelity’s November 6 report described Solana as an increasingly competitive venue for trading, while cautioning that its activity is not directly equivalent to that of traditional exchanges. Solana said on November 8 that its share of the compared activity had risen from 0.30% in 2022. Fidelity also cited Nasdaq research showing about 50% of U.S. equity trading volume took place away from exchanges in 2025; the comparison does not mean Solana handles 15% of the entire U.S. securities market.

The report examined network changes aimed at improving trading performance. Solana’s slot times had stabilized near 400 milliseconds, with developers targeting about 200 milliseconds. Its maximum block capacity rose from 60 million to 100 million compute units, a 66% increase. The Alpenglow consensus upgrade, activated on October 21, targets transaction finality near 150 milliseconds; an October 23 measurement recorded median finality of about 404 milliseconds.

Solana said monthly trading in tokenized assets had grown from less than $100 million to nearly $5 billion. The products include tokenized equities, Treasury products, commodities and private credit, with varying ownership rules and restrictions. Fidelity also reported more than $590 billion in notional volume on Solana-based perpetual futures platforms over the preceding 12 months.

SOL traded near $89.59 on November 8, down 0.36% over 24 hours and 19.24% over the previous month, according to crypto.news market data. Fidelity said network revenue comes from base and priority fees, validator voting costs and transaction-ordering payments, including Jito tips. It warned that revenue tied to trading can fall when weaker markets reduce demand for profitable transactions and priority execution.