Schwab Adds Solana, Avalanche, and Chainlink Amid Market Slowdown

Introduction to Schwab's New Offerings

On November 9, 2026, Charles Schwab expanded its direct crypto trading service by adding Solana (SOL), Avalanche (AVAX), and Chainlink (LINK). This strategic move now offers customers access to five cryptocurrencies, including the previously available Bitcoin (BTC) and Ethereum (ETH). The addition comes at a time when trading activity across several established platforms has noticeably declined, raising questions about the future dynamics of the crypto market.

Declining Trading Activity Across Platforms

Current market conditions have led to a decrease in trading volumes and active users on various platforms. Notably, Coinbase reported its quarterly-average monthly transacting users dropping from 9.3 million in Q3 2025 to just 7.4 million in Q3 2026. This decline is a significant concern for the exchange, as it reflects a broader trend impacting user engagement in the blockchain space.

Additionally, in a report from Gemini, the trading volume for the second quarter plummeted to $4 billion from $11 billion a year earlier, despite a rise in monthly transacting users by 11%. This indicates a stark contrast where more users are present, but the volume of capital being traded has dramatically decreased.

Shifting Dynamics in Crypto Trading

Other platforms have mirrored this trend. For example, eToro saw the average invested amount per crypto trade drop significantly from $325 to just $97, a plunge of 70%. Meanwhile, trading activities showed only a marginal decline, with transactions reducing by only 4% to reach 5.3 million trades. At the same time, Robinhood experienced a downturn in crypto transaction revenue, with a reported 55% decline to $120 million.

Market Insights from Surveys

A survey conducted by Gallup in June revealed that only 9% of adult Americans currently own cryptocurrencies, a significant drop from 14% in 2025. Furthermore, a Schwab survey indicated that 60% of current crypto investors expect to increase their holdings over the next year. Meanwhile, an online survey conducted by the National Cryptocurrency Association and Harris found that 42% of respondents would be more inclined to open a bank account or utilize more financial services if offered access to cryptocurrencies.

The Impact of New Listings

Schwab's recent move to include Solana, Avalanche, and Chainlink signifies a potential shift in the competitive landscape for crypto trading. By integrating these cryptocurrencies into their platform, Schwab aims to capture the trading activity of existing crypto holders who are potentially migrating from exchanges to traditional financial services. The firm seeks to establish a comprehensive offering that aligns with emerging market needs.

This is further highlighted by the recent trends showing that existing holders may choose to consolidate their trading activities with established financial institutions like Schwab, especially given the increasing interest among new investors and those resuming dormant accounts.

Illustrative Customer Routes

Understanding the customer segments that these new offerings could attract is vital. Schwab identifies three primary customer routes that could drive crypto adoption:

• Existing holders: Customers currently trading cryptocurrencies on different platforms may migrate to Schwab for better services or lower fees.
• Dormant holders: Individuals who previously held crypto but have not traded recently may return to the market through easier access via Schwab.
• First-time buyers: New investors who are intrigued by cryptocurrency can leverage Schwab's platform to make their initial purchases, broadening participation.

Future Considerations for Crypto Engagement

With more established players like Fidelity and SoFi venturing into the crypto space, the competitive environment is poised for significant challenges and opportunities. Fidelity offers a wider range of products, including a Fidelity Digital Dollar, while SoFi is integrating crypto into its existing financial services, indicating a trend towards comprehensive investing platforms.

As these traditional firms expand their offerings, the impact on overall market participation could be significant, with an emphasis on providing existing customers with seamless access to digital assets.

Key Takeaways

• On November 9, 2026, Schwab added Solana, Avalanche, and Chainlink to its crypto trading services.
• Coinbase reported a decrease in monthly transacting users, falling from 9.3 million to 7.4 million year-over-year.
• Trading volume for Gemini dropped to $4 billion, a significant decrease from $11 billion last year.
• Approximately 42% of surveyed individuals indicated that access to crypto would encourage them to open financial accounts.
• Schwab is targeting three customer routes: existing holders, dormant holders, and first-time buyers to enhance its market share.

Conclusion: Navigating the Future of Crypto Trading

The recent additions of Solana, Avalanche, and Chainlink to Schwab's trading platform highlight a critical moment for traditional financial institutions as they adapt to ongoing changes in the crypto market. Despite the current slowdown in trading activity among established platforms, Schwab's strategic expansion points towards a growing interest in cryptocurrencies. As traditional services blend with digital assets, the potential for increased customer engagement and participation remains a promising prospect. This evolving landscape could shift how investors interact with cryptocurrencies, ultimately shaping the future of their trading activities.