Bitwise CIO Matt Hougan: Solana Is The New Wall Street For Tokenization And Stablecoins

Solana's position in the tokenized markets competition gained significant attention when Bitwise Chief Investment Officer Matt Hougan declared it "the new Wall Street." During an October 2 discussion with Solana Labs' Akshay Rajan, Hougan stated that global financial leaders increasingly acknowledge the disruptive potential of stablecoins and tokenization. He highlighted that SEC and Bank of England officials, along with BlackRock's CEO, have all indicated digital assets could transform payments and securities markets. Hougan emphasized this narrative strongly resonates with investors who understand the scale of change these technologies could deliver. When considering blockchain exposure, Hougan argued Solana's combination of speed, throughput and near-instant finality makes it "extraordinarily attractive," citing settlement speed improvements from 400 to 150 microseconds that appeal to trading professionals. According to CoinDesk Research's technical analysis, SOL traded within a narrow $8.40 range between $228.19 and $237.04 during a 23-hour session from October 3-4, showing consolidation. The price later broke below the $228-$229 support zone with increased volume, suggesting potential bearish momentum continuation as larger sellers became active.