Deep-dives into cbBTC: birdeye.so/research/detail/c…

Despite having roughly similar market cap ($187M vs. $176M), base:0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf has totally beaten solana:3NZ9JMVBmGAqocybic2c7LQCJScmgsAZ6vQqTDzcqmJh on @solana in DeFi. YTD daily average, cbBTC outperformed WBTC by: - Spot DEX volume: 392% - DEX liquidity: 326% - Lending liquidity: 1599% Wen trade bitcoin on Solana, trade cbBTC.

We spent time on Solana Circuit this week with @djhatrang from @birdeye_so who walked us through their H1 2026 Solana data. A few things stood out that we think deserve more attention than they're getting. Solana is now responsible for more than 50% of spot DEX volume across the entire industry… and that’s in a bear market! Tokenized stocks alone broke $2 billion in trading volume in June. And Solana is now delivering better execution on SOL/USDC pairs than centralised exchanges, with the edge expanding to other pairs. That last point matters more than most people realise. It is not just a metric, it’s evidence that the thesis is working. The narrative for this cycle has always been Internet Capital Markets. The idea that everything tradable or ownable ends up on-chain, on Solana, and that people will have no reason to go anywhere else. What the BirdEye data shows is that this is no longer a vision. It is a fact being constructed in real time. The other thing worth noting is what the meme coin share tells us. MemeCoin volume was the story in prior cycles. Now it accounts for roughly 20% of Solana's spot DEX activity on normal days. The rest is L1 tokens, tokenized stocks, and blue chips. That is not a casino maturing. That is a financial system being built. The capital is sticky. It did not leave when prices fell. That is the signal that matters most going into the second half of the year. Sustainable velocity, not speculation. When execution quality is certain and liquidity is available ahead of time, capital stays. That is the Certainty Economy. And Solana, right now, is the clearest proof of concept it has.

Solana By the Numbers And the numbers don't lie. Find out why Solana is DOMINATING the pitch 👇

Solana

In every battle, there's something worth fighting for. Catch @djhatrang and @birdeye_data on Solana Ecosystem Call, this Thursday 2PM UTC.

In less than 2 weeks, solana:XsoCS1TfEyfFhfvj8EtZ528L3CaKBDBRqRapnBbDF2W did more volume ($885M) than all tokenized stocks on @solana did in May ($856M). Total tokenized equity volume has reached $1.9B on Solana in June, and there's still one week to go. Pretty crazy for a dead chain.

Jan 2024, RWA market cap only represented 1.34% stablecoin market cap. June 2026, it's 11%. While stablecoins had its 2x moment from $129.5B to $326B at peak, RWA exploded 10x faster. The young sector now sits at $34.71B market cap, its ATH. 2026 is the year of tokenization.

The kind of calculation that I like to do for reports. In one week (May 13-18), solana:2u1tszSeqZ3qBWF3uNGPFc8TzMk2tdiwknnRMWGWjGWH on Solana did close to $1B in DEX volume, surpassing all previous months in 2026. This was driven by the USDE/USDe Multiply markets on @kamino and @jup_lend, where each transaction generates a DEX swap. @orca_so carried the bulk of the volume thanks to having the deepest liquidity of ~$10M in the USDG-USDe pool. Activities have since dwindled down as both lending markets have reached 100% utilization.

Integrating Web3 data into global social media requires infrastructure capable of handling immense scale without buckling. To power the new @X Cashtags and @tokens, @birdeye_data was integrated to serve as the underlying @solana data layer ↓

PEAK 🏔️

Prediction markets can easily go into the trillions. Even more likely now that perps are coming to @Polymarket and soon other players. Our Head of Research @djhatrang unpacks prediction markets from our latest report, together with X Cashtag and Birdeye Perps 👇

Prediction markets are becoming the most powerful tool in finance. ~90% accuracy near resolution. $150B in volume. Institutions are starting to circle. And no, this isn't just gambling with extra steps. It's real-time probability pricing for the future. And it could completely reshape how markets work. FT @birdeye_so Researcher @djhatrang Tune in to know more ⏱ TIME POINTS ⏱ 00:00 – Intro 01:16 – Birdeye & the Future of Crypto Data 04:08 – X Cash Tags: Why This Matters 07:13 – Is X Becoming a Crypto Super App? 09:36 – Does X Integration Actually Help Solana? 11:28 – Prediction Markets: Crypto’s Next Big Primitive 15:31 – Sponsor: Nexo 16:09 – Sponsor: Summ 17:01 – Why Prediction Markets Are So Accurate 20:20 – How Big Can Prediction Markets Get? 23:15 – Solana’s Role in Prediction Markets 25:19 – Can Solana Hit ATH by 2026? 26:28 – Birdeye Perps: New Alpha for Traders 29:06 – How AI Agents Could Drive Crypto Adoption 30:49 – Sponsor: Consensus Miami 31:34 – What Triggers the Next Crypto Bull Run? 33:40 – Final Thoughts Where to Follow DJ

Trading perps is war - it's you vs. the crowd. 🚢 Introducing Birdeye Perps: the market intelligence platform built to help you own your edge. Not another leaderboard. Not another PnL tracker. It's a decision layer that turns raw perps data into visual intelligence and actionable signals. Starting today with @HyperliquidX 👇

birdeye is great

Prediction market activity is expanding beyond dominant platforms like Polymarket, with new ecosystems on Base and BNB Chain gaining traction. @djhatrang, Head of Research at @birdeye_so, says “users are going to try to explore more new entrants within the field” to @RemyBlaireNews.

Unpacking prediction markets as the new financial primitive, new report co-authored by @JupiterExchange and @chainlink 👇 Prediction markets aren’t betting. They’re outcome-based instruments that price uncertainty directly and hedge real-world events — with >90% accuracy right before resolution. We analyzed: > Exponential growth & market structure > A hybrid derivative model > Accuracy vs. traditional polling > Institutional adoption

Trading volume of tokenized stocks on @solana hit daily high of $37M on March 30 💥 That includes @PreStocks ($13.6M), @xStocksFi ($13M) and @OndoFinance Global Markets ($10.4M).

This whale cut loss with a $4.7M sell-off of $NVDAon, contributing to 50% of the token volume yesterday. Realized loss = $827.26K.

Crazy historic February: adjusted stablecoin volume on @solana surpassed both Ethereum and Tron at $660B. That's 37% of all stablecoin volume in Feb. Presented by our Head of Research @djhatrang, for @SolBrothersPod ⚡