Solana has drawn fresh attention from Fidelity Digital Assets after the investment firm\u2019s latest research found that the blockchain accounted for roughly 15% of the trades measured against major U.S. exchanges in 2026, briefly surpassing the New York Stock Exchange in weekly executions.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n Fidelity Digital Assets, in its November 6 report<\/a>, examined Solana\u2019s trading activity, transaction costs, network performance and growing market for tokenized financial assets. Senior digital assets research analyst Max Wadington described the blockchain as an increasingly competitive trading venue, although its activity still differs from that of traditional stock exchanges.<\/p>\n New report from Fidelity Digital Assets: Solana\u2019s Competitive Advantage in Onchain Trading.<\/p>\n \u2192 15% of all major US exchange activity, up from 0.30% in 2022 Their\u2026 pic.twitter.com\/h8tMzUzrl0<\/a><\/p>\n \u2014 Solana (@solana) November 8, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n Solana promoted the findings on November 8, saying its share of the compared exchange activity had risen from 0.30% in 2022. The network\u2019s announcement pointed to growing tokenized-asset trading and Fidelity\u2019s assessment of Solana as a potential part of financial market infrastructure.<\/p>\n <\/p>\n The report found that Solana averaged approximately 15% of the exchange trades included in Fidelity\u2019s comparison during 2026. At one point, its weekly trade count exceeded that of the New York Stock Exchange.<\/p>\n The measurement concerns the number of trades executed, not the dollar value of assets exchanged. Fidelity\u2019s comparison uses decentralized spot exchange trades on Solana alongside activity from traditional venues, where transactions involve different instruments, trading rules and market participants.<\/p>\n Much of Solana\u2019s activity involves cryptocurrencies and other digital assets. U.S. stock exchanges, meanwhile, handle regulated securities, with substantial trading taking place through alternative trading systems and other off-exchange venues.<\/p>\n Fidelity cited Nasdaq research indicating that approximately 50% of U.S. equity trading volume occurred away from exchanges in 2025. Consequently, the figures do not establish that Solana handles 15% of the entire American securities market.<\/p>\n The investment firm nevertheless argued that the network\u2019s ability to process large numbers of trades deserves consideration alongside established financial marketplaces.<\/p>\n \u201cAn emerging piece of financial market infrastructure,\u201d Fidelity wrote, describing Solana\u2019s growing role while acknowledging that scale alone does not guarantee long-term success.<\/p>\n Alongside trading activity, Fidelity examined improvements intended to make transaction processing faster and more predictable for professional traders.<\/p>\n Its research noted that Solana\u2019s slot times had stabilized near 400 milliseconds, with developers working toward a longer-term target of approximately 200 milliseconds. More predictable block production allows trading applications to plan around shorter processing intervals.<\/p>\n The network recently raised its maximum block capacity from 60 million to 100 million compute units, a 66% increase. Compute units measure the processing resources consumed by transactions, so the higher limit allows more activity within individual blocks.<\/p>\n Another development involves Alpenglow, Solana\u2019s upgraded consensus system. As crypto.news reported after mainnet activation<\/a>, the upgrade went live on October 21 and targets transaction finality near 150 milliseconds.<\/p>\n An independent October 23 measurement recorded median finality around 404 milliseconds, indicating that observed performance remained above the network\u2019s target.<\/p>\n Fidelity identified transaction inclusion, reliable execution and low fees as important considerations for market makers. Its analysis noted that proprietary automated market makers increasingly compete to provide prices and liquidity without relying entirely on conventional decentralized liquidity pools.<\/p>\n The report examined how Solana\u2019s available financial products have expanded beyond ordinary cryptocurrency spot trading.<\/p>\n In its November 8 announcement, Solana said monthly tokenized-asset trading volume had grown from less than $100 million to nearly $5 billion. Fidelity\u2019s research charts the growth of tokenized assets, including equities, Treasury products, commodities and private credit instruments.<\/p>\n Such products remain subject to different ownership arrangements, investor eligibility requirements and transfer restrictions.<\/p>\n In October, Securitize confirmed 12 tokenized stocks<\/a> were available on Solana for eligible investors, including products referencing Apple, Nvidia and Tesla.<\/p>\n Fidelity examined derivatives activity as another source of trading demand. Solana-based perpetual futures platforms processed more than $590 billion in notional trading volume during the preceding 12 months, according to the report.<\/p>\n Perpetual futures allow traders to take leveraged positions without owning the underlying asset, creating another market where participants compete for execution.<\/p>\n Fidelity\u2019s assessment arrived while SOL continued trading under pressure.<\/p>\n\n
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\u2192 Briefly passed the NYSE on weekly executions
\u2192 Tokenized asset volume from under $100M a month to nearly $5B<\/p>\nFidelity Compares Solana Trading Activity With U.S. Exchanges<\/strong><\/h2>\n
Solana Network Upgrades Support Faster Trading<\/strong><\/h2>\n
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Tokenized Assets and Perpetual Futures Expand Trading<\/strong><\/h2>\n
Solana Price Falls as Fidelity Examines Network Revenue<\/strong><\/h2>\n