Solana Leads the Next Wave of Onchain Trading

crypto trading data firm Bird Eye releasing its first half report on the activity.

Now the report finding that salon is leading the industry and stablecoin growth rate, posting over 150% growth since the start of last year.

If the stablecoin industry market cap is only up slightly year to date, and distribution is still heavily concentrated on just four chains.

A has maintained its leading position on.

Stablecoins, yet it's only processing between $70 million and $170 million a day in real world payments.

Well joining us this morning is DJ Bir Eyes ahead of research.

Good morning, DJ.

Thank you so much for joining us.

So first and foremost, can you expand on the first half activity on Solana's blockchain and tell us how factors like token holders, stablecoins, and a spot deck volume actually grew.

Yeah.

Hi, Remi.

Great to be back here on FinTech TV.

Um, I think for the first half of 2026 for Solana, Solana continues to consolidate its position as the leading chain in terms of, um, growth, right?

We see stable coin growth, we see reward asset growth, we see Solana continue to be the chain for everything trading.

Um, Solana is the leader in Spot deck volume share, um, a market share, and Solana is the leader, as you say, in stablecoin, um, supply growth, despite the fact that, um, the industry-wide stablecoin supply has increased marginally and even at some point, um, uh, reduced a little bit.

So I think the, the key point for Solana in the first half of 2026.

Is that despite uh market conditions, Solana continues to um double down on his thesis as the chain for everything trading.

We see growth across all verticals um in terms of even perps trading, DEX trading in um all types of assets, um, such as, um, tokenized stocks, tokenized commodities, um, and, um.

Uh, foreign asset, crypto measures, all on Solana, uh, we see growth in, um, everywhere.

DJ you just mentioned RWA so I do want to zoom in on your real world asset report for viewing audience.

Can you explain how the RWA market cap has grown compared to stable coins and what you saw in terms of payment volume by chain.

Yeah, so if you look at the um growth rate of realwood asset compared to stablecoin from 2024 till now, you see that realward asset growth is more than 8 times the stable coin growth at the same time.

So at the beginning of 2024, real asset market cap is only like uh 1.5% of stablecoin market cap, but by June of 2026, Real world asset, it's more than 10%, close to 11% of stablecoin market cap.

So it shows that real world asset is growing at a very accelerated pace compared to stablecoin, which has somehow matured from, uh, compared to real world asset.

And this pace shows that there's a lot of room for, um, continued growth in the coming months.

And talking about payments falling by chain, we see that Um, compared to other chains such as Ethereum and Solana, Tron is still the number one chains in terms of payment and P2P transaction.

This is, um, obviously because Tron has been designed from the beginning as the low fee, high-speed pace for P2P transaction, um, cross, cross-border, um, stablecoin transfer, and So payment, stablecoin payment volume.

But I think uh compared to Tron, Solana is also growing as one of the leading venue for uh stablecoin payment on chain, not just um P2P but also B2B and B2C as well.

Um, credit card payment by chain, uh, we see that Solana is growing significantly more than 5 times compared to the beginning of 2025.

Yeah, and while I have you here, DJ, I want to ask you about tokenization and gold as well as stocks.

So starting out with tokenized gold, what did you learn about monthly trading volumes as well as the competition between Tethergold and Paxo's Trust Company?

Yeah, we see that thanks to the goal rally at the end of 2025 and moving into the beginning of this year, um, tokenized goals are goals are actually moving on chain at an accelerated pace and trading volume. increased majorly uh by the end of 2025 into 2026 thanks to that um gold price rally.

And of course, there are two main competitors in the field, which is Paxo's Gold and Tether's um Goal X XAUT, um, and I think in terms of um the two the two tokens competition, Tether's is having a little of, of an advantage, but Paxo's goal is also growing in terms of trading volume, um, very quickly.

Um, but I think what is more interesting about tokenize's goal is that there Thanks to the gold rally, there has been an ecosystem built around tokenized gold that hasn't existed before.

So previously, you only have Paxo's gold and tether's gold on chain as more or less a venue of um holding.

But now you have um trading, gold trading on chain, you have a PRPs gold on chain, but you also have a gold landing on chain.

So it has, has expanded from just like a two-asset ecosystem into a multi-asset ecosystem with a finance layer.

And an utilization layer, which means that there we'll see more and more of Unchained goal activities um coming into the end of 2026 and into 2027 as the ecosystem is growing and maturing.

And finally, before I let you go, when it comes to tokenized stocks, tell us about the competition in the space with Backpack Securities, especially after the June SpaceX IPO, and we have less than 60 seconds.

Yeah, so previously, you see that in the tokenized equities, um, X stocks by back finance and, uh, on the global markets are the two dominant, uh, players in the field, uh, with, you know, more or less, more than 200 to 400 tokenized stock and ETFs being listed on chain.

But Backpack Securities came as, um, Having the having SpaceX, tokenized SpaceX as its first asset, um, and now, and from that to now, every week it had listed a new, um, tokenized stocks, and it now has more than 11, um, tokenized stocks on chain.

And I think the, the interesting thing is that thanks to its listing strategy, which lists not only one new stock every week, but also listing that stock.

Close to their earnings result call or listing it on the day that it debuted on NASDAQ has led to Backpack securities capturing the majority of the volume of the stocks that it listed compared to its competitors.

So meaning that for the 9 stocks that it lists that X stocks and Ando has, we here at the New York Stock Exchange, so we will have to leave it there.

Thank you so much for joining us.