Solana Transactions Surge 100-Fold: Gap With US Stock Exchanges Narrows

Over the same period, the combined average weekly trade count across Nasdaq, the New York Stock Exchange (NYSE), NYSE Arca, BATS, and NYSE American rose from 373.8 million to 656.8 million. Trading activity across these traditional exchanges increased by approximately 1.76 times.

The figures show that Solana's share relative to the combined transaction count of these five exchanges increased from roughly 0.3% in 2022 to nearly 15% in 2026. Solana's growth rate substantially outpaced that of the traditional trading platforms included in the comparison.

Furthermore, a Fidelity Digital Assets research report published on November 6 revealed that Solana briefly surpassed the NYSE's trade count during a particular week in 2026.

What Does the 15% Figure Actually Mean?

The most important distinction in this comparison is that it measures the number of executed trades rather than their monetary value. In other words, a small token swap on Solana and a high-value stock transaction on a traditional exchange are each counted as a single trade.

Consequently, the 15% figure does not mean that Solana controls 15% of the US stock market or facilitates an equivalent share of capital flows. The comparison also excludes off-exchange transactions in the US equity market.

Nevertheless, Solana's growth has been supported by low transaction fees and the expansion of decentralized finance applications. Decentralized spot exchanges, in particular, allow users to trade tokens without relying on traditional financial intermediaries.

Fidelity's research also indicates that Solana's development extends beyond spot trading. According to the report, decentralized perpetual futures platforms operating on the network have generated more than $590 billion in notional trading volume over the past 12 months. The growing adoption of tokenized financial products is another area that could strengthen the network's connection with traditional finance.

Kriptofoni's Assessment

Solana's rising transaction count highlights the potential of blockchain infrastructure to support high-frequency financial activity. However, an increase in the number of trades does not necessarily mean that economic value or network revenue is growing at the same pace.

For Solana, the key question is how much of this increased trading activity can translate into sustainable revenue and lasting user demand. Memecoin trading and short-term speculative activity can rapidly inflate transaction statistics, while changing market conditions can cause that activity to decline just as quickly.

As Fidelity also points out, the network's economic performance is influenced by the cyclical nature of trading activity. Therefore, assessing Solana's ability to compete with traditional financial infrastructure requires looking beyond transaction counts to liquidity, execution quality, network reliability, and the sustainability of its revenue.