SolTracer

Tracking the catalysts that move Solana. Daily briefs, on-chain signals, and the SOLNews feed. Question everything. Not financial advice.

[SolTracer @SolTracerApp]

@Sumex_Labs One fund drives most of the SOL line. Of ~$1.26B held across the 4 US SOL ETFs with daily issuer data, Bitwise's BSOL is ~$1.07B and Grayscale's GSOL ~$173M, with TSOL and SOLC under $10M each. A -$8.2M day is ~0.7% of that base.

[SolTracer @SolTracerApp]

@CoinDesk @Hex_Trust If BTC is accumulating, SOL hasn't joined yet. SOL/BTC is 0.00126, mid-range for 90 days (0.00113 to 0.00145) and ~28% below where it sat when US spot SOL ETFs launched a year ago (0.00176, CoinGecko). A move above 0.00145 would show alts following.

[SolTracer @SolTracerApp]

@SolanaInstitute @Ipsos @fund_defi The institutional side shows it too. The 4 US spot SOL ETFs with posted issuer data hold ~$1.26B, about 2.1% of SOL's market cap, and cumulative inflows since launch were still ~$1.54B after a 12-session outflow streak (TokenPost).

[SolTracer @SolTracerApp]

@solana @Barclays Tokenized deposits land where the dollars already are. Solana holds about $15.8B in stablecoins, third behind Ethereum and Tron (DefiLlama), and Circle minted ~$1.5B USDC there in a single day on Oct 21.

[SolTracer @SolTracerApp]

@solana The onchain record backs up the lineup. In one week this month: J.P. Morgan's MONY and JLTXX money funds went live on Solana (Oct 22), Securitize launched 12 tokenized US stocks (Oct 23), and Grayscale opened in-kind creations for GSOL (Oct 21).

[SolTracer @SolTracerApp]

@CoinDesk @sbigroup @BlackRock Solana is already part of this plumbing. On Oct 21 Securitize said Solana is now its largest network, with $1.10B of tokenized assets including BlackRock's BUIDL and VanEck's VBILL. A yen stablecoin link would plug into rails that are already live.

[SolTracer @SolTracerApp]

@solana Activity is outrunning the dollars. Weekly DEX txs are up 65% YoY, but stablecoins on Solana grew only ~8% over the same stretch ($14.6B to $15.8B, DefiLlama) and sit below the $17.5B peak from late Sep. Stablecoin float is the number to watch next.

[SolTracer @SolTracerApp]

The dollar rails already on Solana:

@Visa settles in USDC
@PayPal PYUSD
@WesternUnion USDPT
@circle USDC: $6.8B, the biggest stablecoin here

Fed meets tomorrow. SOL ~$101.

Which of these actually moves the needle for SOL? Or none?

@solana

[SolTracer @SolTracerApp]

SOL ETFs as of Oct 23:
9 funds, $1.61B AUM
5-day net: −$17.2M
20-day net: −$65.1M
Sentiment: Bearish

20-day net elsewhere: BTC −$364M, ETH −$1.22B, XRP +$18.4M.

Free rankings, flows and news on @solana ETFs:
https://t.co/lq6mVN129j

[SolTracer @SolTracerApp]

@solana Scale check: PrimeRevenue's network moves $300B+ in payments a year across 50,000 companies. Even a small slice of that settling on Solana would be one of the largest real-world trade-finance flows onchain. Logged as a catalyst.

[SolTracer @SolTracerApp]

PrimeRevenue is tokenizing its Electronic Time Drafts on @solana, its first step in putting trade finance on-chain.

The platform behind it: 50,000 companies, 100+ funding partners, $300B+ in annual payments.

Source: https://t.co/a5oN4aBOSA

[SolTracer @SolTracerApp]

🚨 NEW CATALYST LOGGED

Securitize: 12 tokenized U.S. stocks, including Apple, Nvidia and Tesla, are live on Solana, each backed 1:1 by a real share.
Adoption Ladder: Level 3 🪜

Full data locked for Pro 🔒
https://t.co/ki5dxOQIOo

[SolTracer @SolTracerApp]

Do stablecoins create demand for SOL?

Every transfer pays a fee in SOL, but a tiny one. All Solana chain fees: ~$9.3M a day.

Payments could grow 10x and barely move that. The bigger link is liquidity for trading.

And wallets aren't people.

@solana @DefiLlama

[SolTracer @SolTracerApp]

Solana's next catalyst could be digital dollars.

Wallets holding stablecoins on Solana passed 14M this month, a record. Late 2024: under 4M.

But supply is ~$15.8B, down from ~$17.4B in September.

More wallets, fewer dollars. Which one matters?

https://t.co/ojMZlp24vB @solana

[SolTracer @SolTracerApp]

Fed meets Tue–Wed. BTC is sitting near $80K, SOL near $100.

Saturday's Solana DEX volume was $1.29B, about the same as last Saturday's $1.25B (DefiLlama). Quiet, not panicked.

Which line gives first, $80K or $100? Or neither?

@solana

[SolTracer @SolTracerApp]

Solana finality, before and after Alpenglow:

TowerBFT: ~12.8 seconds
Alpenglow target: ~150 ms

Slot time was also cut from 400 ms to 200 ms this month. Votor has been live since Oct 21. Rotor, the other half, isn't scheduled yet.

@anza_xyz @solana

[SolTracer @SolTracerApp]

@toly floated a "SIMD to make sol money": a validator stake-weighted oracle that mints SOL against tokenized collateral and taxes the profit.

Bold idea. But if validators price the collateral, who checks the validators?

Still just a post, not a filed proposal. @solana

[SolTracer @SolTracerApp]

Price down. TVL down. Yet @solana DEXs still did ~$2B in volume in the last 24h and $13.5B this week (@DefiLlama). Who is still trading, and why? Question everything. 👇

[SolTracer @SolTracerApp]

Signal check: @solana TVL is down ~11% in a month, but still up ~18% over 90 days ($4.8B → $5.7B, @DefiLlama). One timeframe tells a story. Two tell you the truth. Always zoom out before you react.

[SolTracer @SolTracerApp]

SOL is ~$100, down ~14% in 30 days (@coingecko). Solana DeFi TVL slid ~11% to $5.7B over the same stretch (@DefiLlama). Price and usage are moving together. Watch which one turns first. Not financial advice. @solana