Market Overview
Bitcoin’s bounce has stalled at $108,000, leaving the king of crypto down 5% in the past seven days, as spot BTC ETFs had their second-largest weekly outflows of $1.2 billion.
Altcoins have yet to show any real strength, with top Solana tokens still to recover lost ground.
The Solana ecosystem’s market cap saw a 6% drop to $235 billion while trading volume sank 50%.
Off the charts, Solana picked up institutional and revenue wins.
- •The world’s first spot Solana ETF has officially launched in Hong Kong, marking another milestone for the network’s global adoption. Created by ChinaAMC (HK), the fund began trading on Oct. 16.
- •Gemini has rolled out a Solana Card that lets users earn rewards and up to 6.77% on purchases through auto-staking rewards.
- •Uniswap has officially added Solana support to its web app, unlocking direct SOL swaps for users. Traders can now connect their Solana wallets and access the DEX’s powerful liquidity right from Uniswap’s interface.
- •Jito Foundation has secured $50 million from a16z crypto to expand its Solana-based staking network. The funding will boost Jito’s infrastructure, developer tools, and liquid staking products as it doubles down on Solana’s growing DeFi momentum.
Solana's Performance
SOL briefly rebounded above $200 before tumbling to $184, marking a 7% weekly decline. Was it a dead cat bounce?
L1 Ranking Update
Solana’s total value locked (TVL) fell 3% to $11.06 billion as it remains in second position, ahead of Bitcoin in third.
In another win, Solana has overtaken its competitors to lead in 24-hour DApp revenue. Pump.fun is generating over $1 million in daily revenue despite a cooling market.
DeFi
With degens still on the sidelines, Solana’s DEX volume nosedived 19% week-on-week.
Biggest Winners & Losers
Top Performers
- •Stonks (STNK): +113.42%
- •Dego Finance (DEGO): +91.41%
- •Roam (ROAM): +47.28%
- •Smart Pocket (SP): +40.21%
- •Aleph Cloud (ALEPH): +22.55%
Biggest Losers
- •SLERF (SLERF): -43.17%
- •Aethir (ATH): -39.44%
- •GeorgePlaysClashRoyale (CLASH): -36.96%
- •Keep Network (KEEP): -34.6%
- •Nobody Sausage (NOBODY): -30.38%
Latest Solana News
Jupiter Launches Ultra v3
DEX aggregator Jupiter has rolled out Ultra v3, its most advanced Solana trading engine yet. The upgrade delivers 34x stronger MEV protection, ultra-low fees, and near-zero slippage for smoother, faster trades.
Zcash Lands on Solana
ZEC is now live on Solana, with trading and liquidity pool support available on Raydium through Near Intents integration.
Tether-Linked USDT0 and XAUT0 Launch on Solana
USDT0 and XAUT0 are live on Solana via LayerZero, bringing cross-chain Tether stablecoin and gold tokens to the ecosystem. These new versions aim to boost liquidity beyond Solana’s existing USDT circulation.
Solana Founder Joins Perp DEX Wars
Solana Labs co-founder Anatoly Yakovenko has unveiled plans for Percolator, a sharded perpetual DEX on Solana. The new platform aims to compete with Hyperliquid and strengthen Solana’s trading ecosystem.
What You Can Do Now
- •Reassess your trading strategy to adapt to the cooling market.
- •Track ChinaAMC’s spot SOL ETF to find new liquidity opportunities.
- •Connect your SOL wallet to Uniswap to trade and manage your Solana assets.