Rising activity in tokenized equities injected new momentum into the Solana ecosystem, while Aave’s founder signaled potential token buybacks under an upcoming framework overhaul.
Bitcoin (BTC) stabilized near the $60,000 mark on Friday following a week of selling pressure, but the strongest performance came from DeFi tokens and assets tied to the Solana ecosystem.
Aave’s native token (AAVE) led gains, climbing 19% over the past day. The move followed reports that crypto exchange Kraken is evaluating a strategic investment in the protocol, potentially acquiring a 15% stake at a $385 million valuation.
Aave founder Stani Kulechov rejected claims that the protocol’s assets could be sold at a discount, stressing that all revenue — currently running at an estimated $134 million annually — flows to the Aave DAO and benefits token holders under the recently introduced “Aave Will Win” framework.
He also previewed “Aavenomics 3.0,” a planned redesign of the token model that will include an automated buyback system.
Elsewhere, Solana (SOL) and its ecosystem outperformed the broader market, with SOL advancing nearly 10% on the day.
Trading in tokenized stocks continued to surge, surpassing $2.5 billion in weekly volume — roughly ten times higher than a month ago, according to RWA.xyz. This expansion has given Solana more than 80% dominance in tokenized equity trading across blockchains.
The spike in activity lifted several Solana-based DeFi tokens, particularly those tied to trading infrastructure.
Jito (JTO), which underpins the network’s largest liquid staking protocol and recently rolled out a trading platform, surged 30%. Meanwhile, decentralized exchange tokens Raydium (RAY) and Meteora (MET) gained about 7%, and lending and liquidity platform Kamino Finance (KMNO) rose 9%.
