Fidelity Warns Solana Revenue Depends on Trading Activity

Fidelity Digital Assets warned that Solana’s future revenue faces risks from trading cycles and competition, even as its spot decentralized exchanges averaged about 15% of traditional exchanges’ trade counts in the 2026 period examined. The Nov. 6 analysis revisits September’s NYSE trade-count comparison , which showed Solana ahead for the week ended Sept. 13. It also found that Solana’s spot exchanges briefly recorded more weekly trades than the New York Stock Exchange. The analysis does not establish that this was a separate crossover. The comparison counts executions, regardless of their size. A spot trade on a decentralized exchange is a token swap, while the NYSE count covers securities trades. Frequent small swaps can lift Solana’s count without demonstrating comparable trade value or liquidity. The exchange tally also excludes U.S.

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