The Kobeissi Letter said tokenized stock transfer volume on the platform crossed $10 billion last week for the first time, a milestone that gave traders another reason to treat Solana as more than a speculative chain.
“The bigger story is that Solana is becoming a go-to chain for real trading activity,” Santiment said, adding that continued momentum would strengthen the case that SOL’s bounce has network support.
Solana Meme Coins
Speculative trading added a second driver after crypto influencer Ansem said he would airdrop part of the creator fees earned through his Pump.fun profile.
BeInCrypto reported that Black Bull (ANSEM) rose nearly 20,000% in the week after the announcement, while more than 67.3 million ANSEM tokens, worth about $9.4 million, went to over 700 wallets.
The distribution was not evenly spread. Lookonchain said nearly 50 million tokens went to seven wallets, which later sold 38.3 million ANSEM for about $1.29 million. That event appeared to feed a wider surge in Solana meme coin trading, as DefiLlama data showed Solana decentralized exchange volume rising from $1.16 billion on Jun. 27 to $2.5 billion on Jun. 29.
Pump led Solana decentralized exchanges with $510.9 million in trading volume over 24 hours and $4.22 billion over seven days, suggesting meme coins made up a large share of the network’s activity.
The durability question remains unresolved. Tokenized stock volume has leaned on SpaceX, SanDisk and Micron exposure, while the meme coin jump came from one influencer event.
Mehjabeen Arsiwala is a journalist covering crypto news, DeFi, exchanges, trading, and market analysis. Over the past three years, she has focused on the trends and narratives shaping digital asset markets, from price action and forecasts to exchange developments and on-chain signals. She specializes in clear reporting that helps readers understand what is happening in the market and why it matters.
