Solana Emerges as the Leading Blockchain for Tokenized Stocks
Solana has tightened its grip on the tokenized stocks market, Trust Wallet and Hyperliquid are posting major milestones, and Wall Street’s growing use of Bitcoin products is fueling new tensions with the crypto community.
Solana dominates tokenized equities
Solana has maintained overwhelming dominance in tokenized stock trading, capturing over 95% market share for four months, with a peak near 99% in October. This leadership is driven by infrastructures like Dinari and LayerZero, which are extending tokenization and interoperability services to more than 150 blockchains, while players such as Kraken, Ondo and Coinbase help distribute and list these products.
This position confirms Solana as the reference chain for trading tokenized real-world assets (RWA), especially equities, thanks to its low fees, high throughput and deep liquidity.
Trust Wallet, Hyperliquid and BitMine make moves
Trust Wallet integrated Apple Pay, enabling fast crypto purchases in over 45 countries and triggering a 31% surge in the TWT token after hints of further developments from Changpeng Zhao. Meanwhile, Hyperliquid recorded record net inflows of 53.2 million dollars in 24 hours, following a massive unstake of 2.6 million HYPE tokens worth roughly 85.8 million dollars just before an unlock, with growth supported by governance proposal HIP-3 and upcoming partnerships despite some market incidents.
BitMine strengthened its balance sheet with an additional 14,618 ETH —around 44.3 million dollars—consolidating its status as a leader in “Ethereum Treasuries.” The firm is attracting institutions, including a 102 million dollar investment from JPMorgan into BitMine Immersion Technologies, highlighting rising institutional interest in crypto treasury strategies.
Politics, regulation and Wall Street’s Bitcoin products
In U.S. politics, Donald Trump reiterated that the United States could, in his view, abolish income tax and replace it with customs revenue, a stance that feeds ongoing debate around fiscal policy and trade. On the regulatory front, prediction market Kalshi faces a nationwide class action accusing it of operating illegal sports betting under the guise of prediction contracts, even as the platform gains visibility via its integration into Google Finance and a partnership with Elon Musk’s xAI, plus the appointment of Donald Trump Jr. as advisor.
At the same time, JPMorgan has filed with the SEC to launch leveraged notes backed by Bitcoin, angering some bitcoiners who accuse the bank of debanking crypto firms while monetizing BTC exposure through structured products linked in part to BlackRock’s IBIT ETF . This underlines a deeper paradox: traditional banks increasingly build sophisticated Bitcoin-linked instruments even as parts of the crypto ecosystem remain wary of their influence.
Source: Cryptoast – “La blockchain Solana leader des actions tokenisées ? Récap crypto de la nuit du 27 au 28 novembre 2025”