Solana

On Tuesday, June 2, spot bitcoin ETFs recorded $519.19 million in net outflows, marking a 12th straight session of redemptions, while ether ETFs extended their losing streak to 16 days with $90.15 million withdrawn. The day's largest moves included a $388.64 million exit from Blackrock's IBIT and a $44.27 million outflow from Blackrock's ETHA, even as Solana and HYPE products added $6.50 million and $3.15 million, respectively.

On June 3, 2026, crypto firms highlighted a broader move to use XRP for corporate treasury functions, including reserves, payroll and cross-chain liquidity, beyond Ripple's own ecosystem. Anodos Finance CEO Panos Mekras said the firm has bought, held and paid employees in XRP since 2023, and views the token as a key asset used across multiple networks. The narrative is shifting from speculative positioning to operational use tied to interoperability and settlement across different blockchains.

Solana recorded $91 million in application revenue in May, topping all tracked blockchains and exceeding Ethereum's $52 million. SOL was trading near $81 after eight consecutive monthly declines, even as Solana's fee-derived app revenue continued to lead other networks.

Solana ranked first across all chains for May app revenue at $90.62 million, while SOL still closed May with its eighth consecutive red monthly candle. The slide began in October with SOL around $220 and ended May near $82, as spot Solana ETFs posted $115.34 million in cumulative inflows without any outflow days during the month.

Pseudonymous Solana developer cavemanloverboy introduced SIMD-547 on Saturday, proposing a new transaction base fee that would be burned to reduce SOL inflation. Some estimates say the change could lift daily SOL burn from 648 SOL to 10,800–64,800 SOL and potentially turn issuance deflationary if activity rises about 25x. The idea has support from Solana co-founder Anatoly Yakovenko, while SOL Strategies CEO Michael Hubbard warns higher costs could hurt emerging institutional and AI-related use cases.

Bitwise has brought its $259 million Crypto Carry Fund (USCC) on-chain, placing XRP in the underlying basket alongside Bitcoin, Ether and Solana. The firm says assets under management have topped $250 million and the fund's 30-day yield is around 4% annualized. Shares are tokenized for use as collateral on DeFi venues such as Aave Horizon and Kamino, while the product is offered via private placement to qualified investors.

Stellar's XLM has been floated as a potential challenger to Solana's SOL after a utility-led move last week lifted XLM up the rankings and took it to $0.248. Market watchers are also focusing on how close 24-hour volume has become, with SOL at $1.91 billion versus XLM at $1.51 billion, even as their market caps remain far apart.

Wall Street’s focus is expanding beyond spot crypto ETFs toward building on-chain market plumbing, with examples cited including BlackRock developing tokenized products on Solana and Ethereum and Visa moving USDC settlement from pilot to production. The piece argues tokenized real-world assets could reach $10–16 trillion by 2030, while prices referenced include Bitcoin near $73,000, Ethereum below $2,100, and Solana at $82. It also notes positioning signals such as Strategy holding 843,738 BTC and Tom Lee allocating $230 million to Ethereum at multi-month lows.

Solana co-founder Anatoly Yakovenko has signaled support for the SIMD-547 proposal, which would add a resource-based burn on computationally expensive transactions. Estimates cited in the report put daily SOL burned rising from 648 SOL to 10,800–64,800 SOL, potentially changing supply dynamics as network usage increases. Separately, a SOL/USD weekly chart snapshot taken at 08:57 UTC on May 31, 2026 showed SOL closing at $82.72, down 2.88%, with RSI at 34.62.

South Korean prosecutors have charged five people tied to the Solana meme coin project CatFi, alleging a coordinated rugpull after the token attracted investor funds. Investigators say CatFi was launched in early 2025 via Pump.fun and later saw an about 1,001x price jump within 26 hours as roughly 6,000 investors bought in. Prosecutors said 256 investors reported about 900 million won in losses and suspects allegedly made over 400 million won, with arrests including two suspects on May 11 and three more later on Wednesday.