#BTCUnbound Solana Developments 3. Institutional Adoption and Regulatory Governance
Companies like Franklin Templeton, Grayscale, and Fidelity have applied to create a Solana ETF with enhancements like staking and dual custody, with initial inflows expected to reach $2.9 billion and potentially $5.5 billion over the year.
R3 Bank and its partners (HSBC, Bank of America, Euroclear) are moving to integrate Solana into their financial systems, which is a strong indication of major institutions accepting the public infrastructure of smart contracts on the network.
4. Technical Performance and Technical Expansion
The launch of the Alpenglow upgrade has brought about a radical change in consensus mechanisms, reducing transaction completion time to 100–150 milliseconds, enhancing Solana's capability to support instantaneous Web3 applications.
Development response is high, with nearly 7,600 new developers joining in 2024 (+83% annually), and daily transactions ranging between 3–6 million active addresses, with locked DeFi values exceeding $9.3 billion.
5. Security Challenges and Fraudulent Deception
Academic studies like SolPhishHunter have revealed phishing attempts within the Solana ecosystem leading to losses of over a million dollars, prompting the creation of tools to detect such attacks .
Previous cases of security failures and rug-pulls in DeFi projects on Solana have been documented, highlighting the need to strengthen governance and security .