Wall Street Stakes a Bold Claim: Solana Stablecoin Network Draws Direct Praise from Bitwise CIO

Bitwise CIO Matt Hougan said Solana fits Wall Street’s stablecoin needs. He spoke on October 2 with Solana Labs’ Akshay Rajan.

“I think Solana is the new Wall Street,”

he said.

He contrasted Bitcoin with stablecoins and tokenization. He said some finance teams call Bitcoin “very ephemeral.” They track stablecoin rails because the use case is clear.

Hougan said Solana throughput and Solana finality match trading desks. He framed the interest in payment flows and real-world assets. He tied the pitch to settlement timing and process control.

Settlement speed in microseconds and tokenization

Hougan cited settlement speed talks from 400 microseconds to 150 microseconds. He said that rhythm aligns with how desks trade. He kept attention on measured latency, not promises.

Teams also review Solana finality for stablecoin settlement. Fewer retries help map legacy steps to chain steps. That lens shapes pilots for tokenization of stocks and bonds.

They assess Solana stablecoin network capacity under load. They compare it to desk workflows that run at sub-second pace. That is why latency numbers draw focus.

Ethereum stablecoin market share vs Solana

Data from RWA.xyz shows Ethereum on top. Onchain stablecoin value stands at $172.5 billion with 59% share. With Arbitrum, Base, and Polygon, the share rises to 65%.

Solana holds $13.9 billion in stablecoins, or 4.7% share. The Solana stablecoin network base is smaller but growing. Institutions weigh speed and fees against deep liquidity.

Offchain Labs CSO AJ Warner compared TVL on Ethereum and Solana. “TVL is definitely not everything,” he wrote. He still urged issuers to “Build within the EVM.”

Bitwise Solana ETF timeline and ETP details

Bitwise runs the Bitwise Physical Solana ETP. Assets under management sit near $30 million. The product uses institutional-grade custody.

Bitwise also filed a U.S. spot Solana ETF. The SEC faces a final decision on October 16. That date is the key checkpoint for access.

At Token2049 in Singapore, Bitwise CEO Hunter Horsley discussed staking ETFs. He said Solana may fit better than Ethereum for redemptions. “ETFs need to be able to return assets on a very short time frame. So this is a huge challenge,” he said.

Market context for Solana and stablecoins

SOL traded near $227, down 2% on the day. The token remains over 22% below its January 2025 high. Price frames the backdrop but does not drive the network data.

The Solana stablecoin network shows rising usage at $13.9 billion supply. The gap with Ethereum remains wide. Teams balance liquidity depth with Solana throughput and fees.

The Wall Street audience follows tokenization and stablecoins. Hougan’s remarks came on October 2. The talk aligned with recent desk interest in short-cycle settlement.

What launch teams compare: EVM vs Solana for stablecoins

Launch teams score EVM distribution and integrations. Ethereum plus Arbitrum, Base, and Polygon hold stablecoin depth. That reach helps issuers switch on day-one liquidity.

Teams also test Solana finality and settlement speed in microseconds. The tests look at retries, ordering, and timing. They match those results to clearing needs.

Custody and wrappers affect adoption. The Bitwise Physical Solana ETP has about $30 million. The pending Solana ETF decision on October 16 will signal the U.S. path.

Cup-and-Handle Structure Signals Solana Momentum Shift

Analyst @CryptoJelleNL shared a chart showing Solana (SOL) forming a classic cup-and-handle pattern. The structure spans from early 2023 through 2025, with the price base shaped like a rounded cup followed by a smaller consolidation area. This type of pattern often appears after extended accumulation, showing where buyers gradually absorb supply before attempting a breakout.

The highlighted horizontal zone near $245 represents a key resistance level. Historically, this area acted as a ceiling during previous rallies. After multiple retests, the current handle phase shows SOL pulling back slightly toward the neckline, which aligns with typical pattern behavior before a breakout attempt.

A black arrow on the chart points upward, signaling potential continuation if SOL clears the resistance band with strong volume. This move would confirm the cup-and-handle formation. On similar timeframes, such structures often lead to sustained uptrends because they combine long-term base building with short-term breakout dynamics.

The analyst wrote, “Most people are not ready for what $SOL is about to do next. Send it higher.” The comment underscores growing attention to SOL’s technical setup as price consolidates near a historical barrier.

The chart spans multiple market cycles, starting from early 2021 through projected 2026, giving a clear view of the long accumulation curve. This scale provides context for why the $245 level matters: it connects past peaks with present breakout conditions, making the zone technically significant for both traders and institutions watching Solana’s price action.

Solana Pattern Claim: 25% Dip, 50%–60% Rally Repeats on SOL Since Q2

Analyst @Zynweb3 shared a Solana (SOL) chart highlighting three similar drawdowns since Q2. Each shaded box marks a decline near 25% followed by a sharp advance. The annotated drops show -24.43%, -24.06%, and -24.70%. The post states a simple rule: buy after a 25% dip and sell after a 50%–60% rally.

The visual sequence uses daily candles and labels subsequent moves as “PUMP.” White projected bars extend the most recent leg toward the $260–$300 area. The idea is pattern repetition rather than a single event. The author says the setup has “played out thrice,” stressing recurrence since Q2.

Technically, the chart groups declines into measured pullbacks within an uptrend. Each retrace resets momentum before price extends higher. The repetition suggests a stair-step structure where SOL cools about 25% and then resumes trend. The boxes align with visible swing highs and lows, reinforcing the claim of symmetry.

Context matters for the reading. First, all three declines occur within a broader rising channel. That background supports strong bounces after uniform pullbacks. Second, the recoveries appear swift, consistent with thin consolidation between pushes. Third, the most recent box begins near $236–$244, matching a well-watched supply zone.

Repeatable 25% Dip and 50%–60% Rally Pattern Emerges on Solana Since Q2

However, the post reduces strategy to a single metric. The “buy after 25% dip” language is framed as a rule of thumb. Markets often deviate from fixed thresholds. Therefore, traders typically confirm trend strength with volume or structure. The chart itself does not display volume, moving averages, or momentum indicators.

Still, the evidence on-screen is clear. The three drawdowns cluster closely around 25%. The rebounds visually exceed 50% from each local low to subsequent swing highs. The author’s summary condenses that behavior into a repeatable pattern. The message remains: track the 25% retrace, then measure the extension.

Calendar placement also stands out. The first box appears in early Q2. The second sits in late Q2 to early Q3. The third box spans late Q3 into Q4, with white projections into higher levels. The spacing implies a cadence of pullback and continuation within the same yearly cycle.

In short, the post documents three near-identical SOL declines since Q2 and frames the follow-through as 50%–60% rallies. It presents a straightforward pattern claim backed by labeled percentages. The most recent leg sits near that template, with projected bars outlining a potential continuation path.