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Solstice's USX stablecoin just shrank 40.1% in a week on Solana: $203M redeemed, supply down to $303.0M, its lowest level since February. The exit came in two waves: $102M on August 22 and $100M on August 26. Direct redemption of USX is reserved for institutions. This was not retail panic. Through it all, the peg held within half a cent of $1. A 40% contraction with no depeg is the redemption machinery doing its job. Why the dollars left is the open question.

Collector Crypt earned $3.08M in fees on Solana last week, up 40.1% week over week. That is more than Jupiter, Raydium or Jito earned over the same seven days. Among Solana DeFi protocols, only Meteora collected more. A marketplace where Pokémon cards trade as onchain tokens is now one of the network's biggest fee businesses.

Exponent's TVL on Solana just hit $120.7M, its highest level in 13 months. Between July and August 2025 the fixed rate yield exchange lost 69% of its deposits, falling to $39.8M. @ExponentFinance has tripled off that floor since, up 27% in the past month alone. On Solana, yield is becoming something you lock in, not just something you chase.

BlackRock's BUIDL just hit a record $728.2M on Solana, up 15.5% in a month. That makes it the 7th largest protocol on the network by value locked, ahead of Marinade, Solstice and every Solana DEX except Raydium. Fees followed: $531K last week, its best week yet. Tokenized treasuries are no longer a side category on Solana.

Solana stablecoin supply fell $533M over the past week: the largest weekly outflow in at least two months. Total supply now sits at $15.06B, back to early-May levels.

The RWA market is already distributing billions on-chain. Circle leads the market with $7.4B distributed, followed by Tether at $3.8B, with Paxos, BitGo, Anchorage and Securitize pushing the sector forward.

The last 7 days show a clear spike in USDG rates across different vaults. You can see it consistently across @JupiterExchange , @kamino and @uselulo . The move seems to be coming from borrow-side incentives on USDG. Both Kamino vaults in the top are USDG-related. That kind of alignment usually means demand for USDG liquidity is increasing, and rates are adjusting everywhere at the same time. Stable LPs on @stabbleorg have also grown, the growth there is best explained by higher stablecoin volume. More volume across stable pairs means more swap fees for LPs, which directly lifts yield.