Derived from Solanafloor, Solana's onchain markets have turned risk-off following over $1.6B in long liquidations, causing a sharp decline in token deployments and trading activity. Daily token launches dropped 40.47% to 30.3K on September 22, while Pump.fun trading fell from $770M to $229M in the same period. Despite this, DEX volumes remain stable, and memecoins now account for just 10% of market share. Meanwhile, TradFi inflows into Solana-based products hit $127M, with REX Osprey’s $SSK ETF seeing $27M in new capital. Publicly traded firms like Galaxy and Forward Industries are tokenizing stock onchain, signaling a shift toward more mature onchain markets.
Solana Onchain Activity Slumps Amid $1.6B Liquidations, TradFi Inflows Rise
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