Solana News Today: Solana Bridges Wall Street and Blockchain With Galaxy’s Tokenized Equity

Solana has marked a historic milestone by becoming the first blockchain to host a tokenized Nasdaq equity, as Galaxy Digital shares are now available on its network. This development underscores Solana’s growing role in bridging traditional finance with decentralized infrastructure and highlights the platform’s evolving ecosystem. The tokenized shares represent a strategic move toward expanding institutional adoption and integrating mainstream financial assets into the blockchain space. Galaxy Digital, a prominent player in the digital asset industry, has leveraged Solana’s high-throughput capabilities to tokenize its equity, offering investors an innovative and efficient means to access traditionally illiquid assets. This initiative aligns with broader industry trends toward tokenization, which promise to enhance liquidity, reduce settlement times, and lower transaction costs across asset classes. The tokenization of Nasdaq-listed equities on Solana is facilitated by its Alpenglow upgrade, a major technical enhancement approved by the Solana community in late August. With 98.27% of stakers voting in favor, the upgrade replaces Solana’s existing consensus mechanisms, Proof-of-History and TowerBFT, with two new components—Votor and Rotor. Votor dramatically reduces transaction finality times from over 12 seconds to approximately 150 milliseconds, enabling near-instant confirmation for users. This enhancement is particularly critical for high-frequency trading and decentralized finance (DeFi) applications that require rapid execution speeds. Rotor, set to roll out in a later phase, aims to minimize data transfers between validators, further improving scalability for use cases such as blockchain-based gaming and DeFi protocols. The approval and implementation of Alpenglow are expected to solidify Solana’s position as a leading blockchain for institutional-grade applications. In addition to its technical advancements, Solana’s recent performance has shown signs of renewed bullish momentum. The platform’s open interest in futures markets surged to an all-time high of $13.68 billion in late August, signaling strong speculative interest in the asset. This surge coincided with the approval of the Alpenglow upgrade and a 17% price increase for SOL, pushing the token to around $217. Analysts and on-chain data suggest that derivatives traders are positioning for a potential upward trajectory, potentially influenced by speculative inflows and anticipation of broader adoption of tokenized assets. Technical indicators further support the case for upward movement. On the weekly chart, Solana’s price has formed a bullish megaphone pattern, a formation that typically precedes a significant breakout. The pattern is expected to be confirmed once the price breaches the upper trend line around $330, potentially unlocking a rally toward a target of $1,057. A Fibonacci retracement analysis also suggests that, if the current neckline at $250 is surpassed, the price could reach as high as $1,030. These technical signals, combined with the surge in open interest, indicate that market participants are increasingly bullish on the asset. However, the on-chain activity on Solana has shown mixed signals. Despite the DeFi ecosystem reporting $12 billion in total value locked (TVL), the network’s transaction count has declined by 99% over the past 30 days, according to Nansen data. This divergence between price gains and on-chain usage raises questions about the sustainability of the recent bullish momentum. In contrast, Ethereum’s transaction volume increased by 39% during the same period, highlighting the disparity in network activity between the two blockchains. Decentralized exchange (DEX) volumes on Solana have also dropped for three consecutive weeks, falling by 65% to $10.673 billion, according to DefiLlama. These figures suggest that while Solana’s price is rising, its utility and user engagement are not keeping pace. The tokenization of Galaxy Digital shares on Solana is a significant development in the blockchain’s ongoing evolution. It demonstrates the platform’s ability to attract institutional-grade use cases and expand its utility beyond DeFi and non-fungible tokens (NFTs). As the first tokenized Nasdaq equity on a blockchain, Galaxy’s shares represent a bridge between traditional finance and the decentralized world, potentially paving the way for more equities to be listed on blockchain platforms. This move could also serve as a catalyst for broader institutional adoption of Solana, particularly if it leads to more tokenized assets being introduced on the network. Solana’s recent approval of the Alpenglow upgrade and the tokenization of a Nasdaq equity position the platform as a key contender in the race for blockchain dominance. While technical and speculative indicators point to potential price appreciation, the long-term success of the platform will depend on sustained on-chain activity and real-world adoption. The coming months will be critical in determining whether Solana can maintain its momentum and fulfill its potential as a leading infrastructure provider for the next generation of financial applications.

Source:

[1] Solana Open Interest Hits $13B All-time High (https://cointelegraph.com/news/solana-charts-1000-sol-price-target-open-interest-all-time-highs)

[2] Solana Set for Major Overhaul After 98% Votes to Approve ... (https://www.coindesk.com/tech/2025/09/02/solana-set-for-major-overhaul-after-98-votes-to-approve-historic-alpenglow-upgrade)

[3] Solana vs Ethereum - A Detailed Blockchain Comparison (https://www.tokenmetrics.com/blog/solana-vs-ethereum?74e29fd5_page=4)

[4] SOL to ETH: Solana Price in Ether (https://www.coingecko.com/en/coins/solana/eth)