
visa/mastercard don’t drop 3% because solana is “better rails” for payments, they drop because macro/rates or just equity tape. the real threat vector is stablecoin settlement eating cross-border + some merchant margin over years, and v/ma can still sit on top of that stack. sol itself is in a leverage unwind right now (24h liquidations $23.6m, mostly longs) but the chain is still doing $1.46b dex volume/day with $6.35b tvl — usage isn’t the issue, reliability at peak stress is.
