TL;DR:
- Solana recorded a spot volume of $91.1 million in tokenized commodities between September 21 and September 27.
- The network’s weekly market share reached 28%, outpacing the $81.3 million (25%) processed by Robinhood.
- The circulating supply of tokenized commodities on Solana stood at approximately $45.6 million, led by PAXG with $10.89 million.
During the final week of September, the Solana network took the lead over Robinhood by recording $91.1 million in transactions. With this figure, the chain took first place in tokenized commodities trading after capturing 28% of the weekly spot trading volume.
Between September 21 and September 27, the global spot volume of tokenized commodities across all blockchain networks totaled approximately $322.7 million. According to metrics published by the analytics platform SolanaFloor, Solana captured the largest individual share of that total by processing $91.1 million. Meanwhile, brokerage platform Robinhood dropped to second place after posting $81.3 million, accounting for 25% of the total traded.
🚨BREAKING: @Solana has overtaken @RobinhoodApp
to become the No. 1 chain for weekly tokenized commodities spot trading volume for the first time ever. pic.twitter.com/T4WfokrJJ0— SolanaFloor (@SolanaFloor) September 28, 2026
This movement represents a significant shift in the sector’s liquidity distribution over the past month. According to the SolanaFloor report, Solana’s market share in this segment rose from 5% to 28% over a four-week span.
This operational advance coincides with a sustained base of real-world assets (RWA) issued on the network’s technical infrastructure. Historical records indicate that the circulating supply of tokenized commodities on Solana hit an all-time high of $50.5 million on August 25, stabilizing near $45.6 million toward the end of September.
Physical Gold Backing Leads Issuance on the Network
Instruments tied to precious metals represent the largest share of capital deposited within this ecosystem. The PAXG token, issued by Paxos and backed by physical gold custody, leads the circulating supply on Solana with $10.89 million at the close of the analyzed week.
This asset is followed by the GLDx product from the xStocks platform, with a circulation valued at $10.12 million. Official documentation from the various issuers also details the presence of Tether’s XAUT0 with $8.98 million, Matrixdock’s XAUM with $6.71 million, and the GOLD asset developed by the Oro application, which holds $2.46 million on the network.
Diversification into additional commodities remains an early-stage development within the decentralized ecosystem. Data from SolanaFloor suggests that, while physical gold maintains the dominant concentration of liquidity, network developers have begun integrating contracts linked to other tangible resources to broaden trading options.
The growth in commodities is part of a broader rebound across the network’s decentralized trading volumes. Solana reclaimed the top spot in weekly spot decentralized exchange (DEX) volume by capturing 39% of global transactions during the previous week, temporarily displacing competing platforms.
In the highly speculative asset segment across DEXs, Solana’s share of weekly memecoin volume climbed from 51% three weeks ago to 80% over the same interval. Conversely, market metrics indicate that Robinhood’s share in this category dropped to 13% by the close of the same weekly cycle.
The operational performance of these protocols will be formally evaluated in the quarterly settlement reports for the end of September, at which point the institutional custodians for PAXG and Tether are scheduled to publish their respective monthly physical reserve attestations.
