Ethereum
Solana fee earnings and tokenized stock wallets rise amid token pullback
Solana captured 38% of total network fees across major blockchains and reached 1.4 million tokenized stock holders, despite SOL declining 15% in October.
Solana recorded approximately $6.54 million in revenue between 12 and 18 October, outpacing all other layer-1 and layer-2 networks for the fifth straight week. Its earnings accounted for 38% of the $17.31 million generated across all tracked chains, topping BNB Chain at $3.23 million, Ethereum at $2.87 million, and Bitcoin at $1.5 million, though aggregate sector revenues contracted over the month.
The network also registered an expansion in tokenized equities, with Blockworks reporting about 1.4 million addresses holding these assets. The metric almost tripled from early September levels of under 500,000, continuing an upward path from 100,000 in late 2025 and 300,000 in July 2026.
Despite on-chain participation, SOL fell from roughly $122 at the start of October to $104, representing a 15% decline over three weeks and slipping from its late September high of $125. The token's RSI declined to 38 from above 80 in August, and the Chaikin Money Flow moved from 0.27 to -0.14, indicating a slowdown in capital inflows.
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