Solana is handling a share of trading activity that would have appeared implausible only a few years ago. A new Fidelity Digital Assets report says the network averaged 15% of the weekly trade count on major U.S. exchanges in 2026, compared with just 0.3% in 2022.

Trading Activity Expands Rapidly

The research note, titled “Solana’s Competitive Advantage in On-Chain Trading,” was published on November 6, 2026, and authored by Max Wadington. Its most notable finding is that Solana briefly surpassed the New York Stock Exchange in weekly trade executions in late 2026.

Fidelity measured approximately 95.9 million weekly trades on Solana during 2026. Traditional exchanges averaged roughly 656.8 million trades per week, placing the network at a meaningful scale relative to established market venues.

• Solana’s share of weekly trade count rose from 0.3% in 2022 to 15% in 2026.
• Weekly Solana trade activity increased approximately 100 times over the period studied.
• Solana briefly exceeded the NYSE in weekly trade executions during late 2026.

The report’s metric is trade count rather than transaction value. That distinction matters because a high number of smaller on-chain transactions does not necessarily translate into equivalent dollar volume on traditional exchanges. Still, Fidelity presents the growth as evidence that Solana is becoming a significant venue for market activity.

Tokenized Assets and Derivatives Add Momentum

Solana’s expansion also extends beyond spot trading. Monthly trading volume for tokenized assets on the network rose from approximately $0.1 billion in June 2025 to nearly $5 billion by September 2026, according to the report.

Derivatives activity has grown alongside tokenized-asset markets. Solana-based perpetual futures platforms processed more than $590 billion in notional volume during the 12 months leading up to Fidelity’s report.

Fidelity attributes the network’s competitive position to improved capabilities and persistent fee advantages. The report also points to broader ambitions around tokenizing financial assets, including equities and Treasuries, which could expand Solana’s role beyond crypto-native markets.

What This Means

Fidelity’s findings strengthen the case that Solana is competing for a place in global financial-market infrastructure, not merely serving as a venue for speculative digital-asset trading. Rising trade counts, tokenized-asset volume and derivatives activity indicate growing demand for high-throughput, lower-cost settlement.

The report also includes an important caution: scale alone does not guarantee durable success. Solana’s income depends heavily on transaction fees and trading volume, both of which can fluctuate with broader market conditions. Blockworks data cited by Fidelity shows network revenue at $1.43 billion in 2024 and $1.40 billion in 2025, even as trade counts continued to climb.

That divergence suggests adoption and monetization should be evaluated separately. Solana’s market significance is increasing, but sustaining revenue growth will depend on converting activity into resilient economic value across market cycles.