Solana’s tokenized commodities surge to $87M weekly volume as Raydium dominates trading

Tokenized commodities trading on Solana hit $87 million in weekly volume, with Raydium, Solana’s largest decentralized exchange, capturing 70% of that activity. Solana’s tokenized commodity supply reached approximately $50 million by late August 2026, built on the back of assets like Paxos Gold (PAXG) and Dominion Market’s tokenized silver token, SILV. The silver token alone generated over $4 million in 24-hour volume shortly after launch, accounting for roughly 60% of all tokenized commodity trading on the network at the time. Raydium has consistently captured between 63% and over 90% of Solana’s tokenized asset trading volume across various categories throughout 2026. The growth in tokenized gold supply on Solana tells perhaps the most dramatic story: a 689% increase year-over-year through August 2026. Solana’s share of the total on-chain gold market sits at roughly 0.47%, compared to Ethereum, which still dominates the space by a wide margin. The trading options for commodity exposure on Solana expanded significantly in early September 2026, when GMTrade launched 24/7 perpetual contracts for gold, silver, and WTI crude oil on the network. On the DeFi side, Kamino, a Solana-based...