Solana Prices Hold Steady as Payments Growth Outpaces Trading Activity

Solana (SOL) has seen its price stabilize around $74 despite market volatility. The token's payments and tokenized-asset rails are gaining traction, but trading activity is slowing down.

According to recent data, Solana-based card programs processed a record $94.32 million in top-up volume in May. Stablecoin payments routed through these products increased from 5% of the total last year to 21%. This growth suggests that even as speculative flows slow down, the network is gaining popularity for consumer-style payment flows.

Institutional access is expanding, with spot Solana exchange-traded funds (ETFs) launched in late 2025 collectively surpassing $1 billion in assets under management. However, the flow picture is not one-directional, with daily inflows into Bitwise's Solana ETF and net outflows from U.S.-listed spot Solana ETFs.