Solana News: Coinbase Stakes 10% of SOL, Raydium Hits $1 Trillion & Ecosystem Grows - May 29, 2026

Key points

• •Coinbase has taken a leading role in staking, now holding nearly 10% of Solana's SOL supply using a multi-client validator setup that achieves near zero downtime, significantly strengthening the blockchain's network stability and security. This effort reflects growing institutional confidence in Solana's infrastructure as of late May 2026.[Pluang]
• •The Solana ecosystem's DeFi sector showed robust growth as Raydium surpassed $1 trillion in trading volume, with its RAY token recently getting listed on major platforms Robinhood and Revolut, amplifying accessibility and trading liquidity for Solana-based assets.[Yahoo Finance]
• •Security concerns in the Solana ecosystem escalated due to the TrapDoor malware campaign targeting wallet keys, affecting users' security and prompting heightened vigilance among Solana stakeholders to protect their digital assets.[Decrypt]
• •Market dynamics for Solana experienced significant turbulence as Pump.fun's deposit of over $738 million worth of SOL at Kraken exchange caused considerable sell pressure, testing critical support levels and contributing to heightened price volatility in the Solana market around $80.[Pluang]
• •Solana Company (HSDT) substantially boosted its fundraising capacity by expanding its ATM equity offering to $250 million in partnership with Clear Street and Maxim Group, underscoring Solana's efforts to secure financial resources for ecosystem development and token buybacks.[TradingView]
• •Exponent Finance upgraded to version 2 on the Solana blockchain, introducing advanced yield management features that enhance its DeFi offering, signaling ongoing innovation and maturity within Solana's decentralized finance landscape.[Crypto Briefing]
• •Prominent investor Raoul Pal publicly endorsed Solana alongside Ethereum as top altcoins benefiting from a bullish market outlook and expanding blockchain adoption, lending further credibility and attracting investor interest to Solana as of May 2026.[Pluang]
• •The Solana app economy is rapidly expanding, with cumulative revenue surging due to increased developer activity and broader ecosystem engagement, demonstrating healthy growth in user adoption and decentralized applications built on Solana’s network.[MEXC]
• •Solana's blockchain integration into mainstream financial services deepened when PayPal adopted it to power PYUSD stablecoin settlements, highlighting Solana's growing role in institutional finance and cross-industry blockchain adoption as of late May 2026.[CaptainAltcoin]
• •Infrastructure growth within Solana was marked by the launch of JTX, a self-custody trading platform from Jito that empowers users with enhanced security and control, reflecting the ecosystem's maturation and a focus on user-centric trading solutions.[KuCoin]

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