coin-img-ETHETH-2.28%coin-img-SOLSOL-3.39%coin-img-XRPXRP-4.38%coin-img-BTCBTC-2.22%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE-5.10%coin-img-HYPEHYPE+0.01%coin-img-TRXTRX-0.30%coin-img-ETHETH-2.28%coin-img-SOLSOL-3.39%coin-img-XRPXRP-4.38%coin-img-BTCBTC-2.22%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE-5.10%coin-img-HYPEHYPE+0.01%coin-img-TRXTRX-0.30%coin-img-ETHETH-2.28%coin-img-SOLSOL-3.39%coin-img-XRPXRP-4.38%coin-img-BTCBTC-2.22%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE-5.10%coin-img-HYPEHYPE+0.01%coin-img-TRXTRX-0.30%coin-img-ETHETH-2.28%coin-img-SOLSOL-3.39%coin-img-XRPXRP-4.38%coin-img-BTCBTC-2.22%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE-5.10%coin-img-HYPEHYPE+0.01%coin-img-TRXTRX-0.30%

Solana took ~97% of onchain spot tokenized equity volume in H1 2026 as revenue fell 87% YoY to $141M

AI Market Summary
21shares Research shows Solana dominating two key onchain finance rails in H1 2026—~97% of spot tokenized equity volume and >22.5% of global stablecoin settlements—while network revenue fell 87% YoY to $141M. The divergence highlights strong usage and market share alongside weakening value capture, which can reshape how participants assess Solana's fee dynamics and the sustainability of activity-driven fundamentals.
Impact level
● Medium
Affected assets
SOL/USDT-3.48%
AI Insight · SOL/USDTAI Insight
● Neutral
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Solana accounted for roughly 97% of onchain spot tokenized equity trading volume in the first half of 2026 and settled more than 22.5% of global stablecoin transactions, according to 21shares Research. Despite those activity metrics, Solana’s revenue fell 87% year over year to $141M over the same period. The figures point to a gap between Solana’s dominance in specific onchain finance use cases and a sharp decline in its ability to capture value.
SOL
SOL-3.41%
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