Publication Date: October 22, 2026

Solana is playing an increasingly significant role in the traditional financial world. In September, no less than $4.4 billion worth of digital shares were traded on the network. Solana is also making major technological strides, with this week’s network update marking the largest since 2020.

Yet this development stands in contrast to SOL’s price. Since early October, the cryptocurrency has fallen in value by about 12 percent. This highlights a growing contradiction: while Solana’s usage is growing, investors seem to place little value on it for now.

In our previous article from September 10, we already described how Solana was gaining ground in digital stock trading, while other activities on the network were actually declining. Since then, stock trading has grown further, but the price continues to lag behind.

Read our previous article here: Solana Benefits from Regulation, Tokenized Stocks on the Rise.

Digital stock trading reaches new heights

According to the Solana Foundation, approximately $4.4 billion worth of digital stocks were traded in September. The total value of these products on the network rose to $684 million, a 47 percent increase in just three weeks. The number of digital wallets holding such investments also reached the one-million mark.

Tokenization involves representing traditional investments, such as shares of Nvidia or Tesla, digitally on a blockchain. This allows these products to be traded outside of regular stock market hours in some cases. The exact rights investors have depend on the provider.

The figures show that Solana is increasingly being used for financial applications beyond regular crypto trading. However, it is important to distinguish between trading volume and actual invested capital. The $4.4 billion represents the value of all transactions executed, not the amount of new money that has flowed into Solana.

Largest network update since 2020

In addition to the growing stock trading activity, Solana implemented a major technological upgrade on October 21. With the introduction of Alpenglow, the system used to definitively confirm transactions was replaced. This reduces the confirmation time from approximately 12.8 seconds to about 150 milliseconds, more than 85 times faster than before.

This can be a significant advantage for financial applications. Especially when it comes to payments and digital stock trading, it is important that transactions are settled quickly. The update thus enhances Solana’s technical capabilities and may make the network more attractive to financial institutions.

Why is the price of SOL lagging behind?

Despite these developments, the price tells a different story. In early October, SOL was still trading around $122, after which the price fell back to about $104 on October 18. SOL is now hovering around $107, meaning the cryptocurrency is still trading significantly lower than it was at the beginning of this month.

One key reason is that increased trading on Solana does not automatically mean that more SOL is being purchased. This is because digital assets are often traded using stablecoins, cryptocurrencies pegged to the dollar, for example. SOL is primarily needed to cover transaction fees. Because these fees are very low, billions can be traded without requiring much additional SOL.

In addition, the price remains dependent on overall sentiment in the crypto market. The increasing trading activity and technological advances have not yet been sufficient to reverse the recent price decline.

Conclusion

Solana has further strengthened its position in the trading of digital financial products. The trading volume of $4.4 billion and the launch of Alpenglow demonstrate that both the usage and the technical capabilities of the network are increasing.

However, this progress has not yet translated into a higher price. This makes it clear that a successful blockchain network does not automatically mean a successful investment in the associated cryptocurrency.

For Solana, the coming period will be particularly important in determining whether the growing financial activity ultimately leads to increased demand for SOL. Only then might the network’s development begin to be more strongly reflected in the price.

Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips on this website are based on our analysts’ own insights and experiences. They are therefore intended for educational purposes only.