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SOL at $81: 8 Red Candles, RWA Records & the Alpenglow Catalyst
Audio is available on Spreaker — see link below.
Solana posts 75M daily transactions and $1.1T in quarterly activity while SOL sits 72% below its all-time high — today's episode unpacks the structural disconnect. From Pump.fun's fee dominance to Alpenglow's 150ms finality target, here's what the on-chain data actually says.
Audio is available on Spreaker — see link below.
Solana is processing seventy-five million transactions a day, running with zero outages, and posting one point one trillion dollars in quarterly economic activity. The price is eighty-one dollars.
The core problem is where the activity is coming from. Pump.fun now accounts for thirty-two percent of all Solana fees, up from twenty-two percent last quarter.
Institutional capital is coming in, but not fast enough to offset the retreat in retail. Cumulative spot SOL ETF inflows hit one point one three billion dollars by May twenty-twenty-six.
Where the ecosystem story is genuinely strong is in tokenized assets. Solana captured ninety-seven percent of cumulative tokenized equities spot trading volume.
On the infrastructure side, there's a concrete catalyst to watch. Alpenglow, Solana's consensus upgrade, entered mainnet community testing on May eleventh.
The risks on the other side are real. Hyperliquid holds roughly ninety-eight percent of perpetuals volume while Solana sits at around two percent, and the April Drift exploit of two hundred and eighty-five million dollars further damaged that category.
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