SOL staking ETFs launched today. All eyes are on flows. What will drive them? In my latest for @glxyresearch, I cover Solana’s Next Chapter — the technological and economic foundations likely to shape the network’s next phase of growth.

If you’re not paying attention, it’s easy to miss the scale of what’s happening under the hood of Solana. Core devs and builders are reworking validation, execution, networking, and market design to make the chain faster, sturdier, and easier to build on

Solana’s activity metrics highlight its traction: record DEX volumes, leading network and app fees, and a rapidly growing developer base. The challenge now is converting high-velocity flows into durable, long-term capital commitments.

Solana’s progress underscores a simple but powerful reality: it has emerged as a differentiated and major player in the blockchain ecosystem, not just because it scales, but because it’s now coupling that performance with maturity, ecosystem depth, and institutional relevance.