Solana’s tokenized equity share drops from 71% to 30% as memecoins surge on rival chains

Solana went from controlling nearly three-quarters of on-chain tokenized equity trading to holding less than a third. The culprit? Memecoins dressed up in stock-market clothing on competing chains. Over a two-week stretch ending around August 27, 2026, Solana’s daily share of global tokenized stock volume collapsed from 71% to 30%, according to Blockworks. The decline wasn’t driven by anything breaking on Solana itself. Instead, rival EVM-compatible chains, specifically BNB Chain and a new Robinhood-branded chain, introduced hybrid trading mechanics that paired memecoins with tokenized real-world assets, pulling speculative capital away from Solana at a remarkable clip. How meme/stock pairings rewired the market Rather than simply listing tokenized versions of stocks the way Solana’s xStocks protocol does, BNB Chain and Robinhood Chain created trading pairs that bundle a memecoin with a tokenized equity. On BNB Chain, a meme/stock pair called $牛来 reached a peak market cap of $77 million. On Robinhood Chain, a pair branded $AI hit $67 million. The design also forces users to bridge assets onto the host chain in order to participate. That bridging activity inflates transaction volume...