Bitwise CIO Matt Hougan Compares Solana to Wall Street

Bitwise CIO Matthew Hougan: Solana Is “the New Wall Street”

Solana is emerging as a leading blockchain platform, with Bitwise CIO Matthew Hougan dubbing it “the new Wall Street” for its speed, high throughput, and near-instant finality.

In a discussion with Solana Labs’ Akshay Rajan on Oct. 2, Hougan noted that global financial leaders—including the SEC, the Bank of England, and BlackRock’s CEO—recognize the disruptive potential of stablecoins and tokenized markets. He emphasized that investors who understand these developments see the scale of change blockchain could bring to payments and securities markets.

Hougan explained that when investors evaluate blockchain platforms, comparisons are inevitable. Solana stands out because its settlement speed improved from 400 microseconds to 150 microseconds, offering high throughput and efficiency that is “extraordinarily attractive” to traders accustomed to low-latency environments.

Framing Solana as “the new Wall Street,” Hougan predicted that its technical strengths would drive substantial capital flows as institutional and retail participants increasingly adopt the narrative.

SOL Technical Snapshot
CoinDesk Research data shows that from Oct. 3, 15:00 UTC to Oct. 4, 14:00 UTC, SOL traded in a narrow $8.40 range between $228.19 and $237.04, indicating a period of consolidation.

The session high of $237.04 occurred at 16:00 UTC on Oct. 3, before selling pushed prices toward $228–$229 support.
Volume peaked early at 3.29 million units, declining to 42,637 units by the close, reflecting weakening market participation.
In the final 60 minutes (13:11–14:10 UTC, Oct. 4), SOL broke below $228–$229 support, dropping from $229.84 to $228.94 (0.39%), signaling a bearish shift.
An initial rebound to $229.78 at 13:38 UTC was followed by renewed selling down to $228.72.
The breakdown coincided with a volume spike, with 18,011 units traded in the busiest minute at 14:01 UTC, suggesting larger sellers are active and increasing the likelihood of continued downward momentum.

Hougan’s insights, paired with SOL’s price action, highlight Solana’s technical edge and market appeal, while signaling caution for short-term trading amid consolidation.