Solana’s dominance of tokenized equity trading is weakening after controlling more than 90% of volume across all chains since July 2025. Blockworks data shows its daily share fell from 71% to 30% over the past two weeks, a 57% decline, as BNB Chain and Robinhood Chain attracted traders through memecoin-stock pairings and incentivized programs. Solana remains the sector’s most established market, with more than $9.5 billion in cumulative volume, over 288,000 unique holders and more than $56 million in lending pools. However, the rival-chain volumes are largely driven by routing trades between memecoins and tokenized stocks, allowing holders and liquidity providers to earn fees and airdrops in tokenized stocks. BNB Chain’s $牛来 and Robinhood’s $AI reached all-time-high market capitalizations of $77 million and $67 million, respectively, during the past two weeks. Solana supports similar pairings through platforms such as stonk.fun, but its tokens have not matched the performance of those on rival networks. Traders say Solana’s scalping culture, short holding periods and bundling tools may discourage higher valuations and longer-term accumulation.