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32.6% of Stablecoin Volume, FTX Overhang & Alpenglow's Q3 Bet
Audio is available on Spreaker — see link below.
Solana now handles 32.6% of global stablecoin transfers yet SOL is stuck at $80 — this episode unpacks the FTX supply overhang, collapsed ETF inflows, and the Alpenglow upgrade that could change everything. From Orca's regulated RWA pools to PayPal's PYUSD expansion, the infrastructure story is moving fast even if the price isn't.
Audio is available on Spreaker — see link below.
Solana is now processing thirty-two point six percent of all global stablecoin transfers, overtaking Ethereum in adjusted weekly volume, and the price is stuck at eighty dollars. That's the tension at the center of everything in the Solana ecosystem right now.
The clearest explanation for the price stall is structural, not sentiment-driven. The FTX bankruptcy estate is releasing sixteen to seventeen million dollars worth of SOL every month, and that schedule runs through twenty twenty-eight.
Set price aside for a moment, because the infrastructure being built is the real story. Orca launched permissioned trading pools this week, requiring KYC verification, with tokenized gold from Streamex as the first listed asset.
The technical roadmap is also moving. Firedancer, Solana's high-performance validator client, is now running on twenty percent of mainnet validators.
The fundamental picture here is a network that's maturing faster than its price reflects. Thirty-two point six percent of global stablecoin volume is not a speculative number.
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