Momentum from tokenized stock trading boosted activity across the Solana ecosystem, while Aave’s founder hinted at future token buybacks under a revamped framework.
Bitcoin (BTC) steadied around $60,000 on Friday after a week of losses, but the strongest upside came from DeFi tokens and Solana-linked assets.
Aave’s token (AAVE) led the rally, jumping 19% over the past 24 hours. The move followed reports that crypto exchange Kraken is considering a strategic investment in the protocol, potentially taking a 15% stake at a $385 million valuation.
Founder Stani Kulechov pushed back against suggestions that Aave assets could be sold at a discount, emphasizing that all protocol revenue — currently estimated at $134 million annually — is directed to the Aave DAO, benefiting token holders under the newly introduced “Aave Will Win” framework.
He also signaled an upcoming upgrade dubbed “Aavenomics 3.0,” which is expected to introduce an automated buyback mechanism.
Solana (SOL) and its broader ecosystem also outperformed, with SOL rising nearly 10% on the day.
Trading in tokenized equities continued to accelerate, surpassing $2.5 billion in weekly volume — roughly ten times higher than a month ago, according to RWA.xyz. This surge has given Solana more than 80% market share in tokenized stock trading across blockchains.
The increase in activity lifted several Solana-based DeFi tokens, particularly those tied to trading infrastructure.
Jito (JTO), which operates the network’s largest liquid staking protocol and recently launched a trading platform, surged 30%. Meanwhile, decentralized exchange tokens Raydium (RAY) and Meteora (MET) gained around 7%, while lending and liquidity platform Kamino Finance (KMNO) rose 9%.
