Solana has completely processed the $1.15 billion IPO of Bullish entirely with stablecoin, marking a new turning point in the traditional capital market.
This event marks the first time a Layer 1 blockchain has directly processed market capital flows, driving significant attention from financial institutions to Solana.
MAIN CONTENT
Solana makes its mark by successfully processing the $1.15 billion IPO of Bullish entirely with stablecoin.
Solana's technical performance excels in throughput, but its market value and on-chain activity have yet to align.
Solana is attracting the attention of large financial institutions, suggesting a growth potential that surpasses the 'ETF hype'.
What did Solana do in the Bullish IPO deal?
Solana has just established a historical milestone by becoming the first Layer 1 blockchain to process the entire $1.15 billion IPO of Bullish using stablecoin, changing how large capital flows approach crypto.
Bullish conducts a $1.15 billion IPO entirely with stablecoin on Solana, marking the first time a Layer 1 blockchain has processed market capital flows in a traditional context.
AMBCrypto page, 2025
Bullish – a U.S.-based cryptocurrency exchange – has raised a massive amount of capital in the form of stablecoin, with the entire transaction confirmed and settled directly on Solana. This event helps this blockchain become a prominent name in the eyes of Wall Street financial circles, going beyond the usual buzz from ETF launches.
In terms of technical criteria, successfully processing such a large transaction is evidence that Solana is ready for institutional capital flows. This is an operational milestone that many other platforms, including Ethereum, have not achieved at this scale.
What does Solana's superior throughput mean for the market?
Solana sets a new peak in speed, hitting 100,000 TPS, demonstrating the scalability and ultra-fast processing capabilities within its blockchain network.
Solana reached 100,000 TPS, establishing the first verified throughput peak, serving as a springboard to attract institutional capital.
SolanaFloor account, 2025, X
Reaching 100,000 transactions per second places Solana among blockchains capable of serving all types of financial services, from IPO processing, stablecoin transfers, to large-scale DeFi trading. This throughput also impresses organizations looking to reduce transaction costs and shorten payment times.
In the context of centralized exchanges and traditional markets always demanding speed standards, Solana's processing model brings blockchain closer to Wall Street – something that other blockchains typically only experiment with or handle on a small scale.
How is Solana's market performance compared to Ethereum?
While achieving impressive technical performance, Solana still appears to lag behind Ethereum in both monthly returns and market value trends.
In terms of monthly returns, SOL only achieved 5%, much lower than ETH's 15%.
AMBCrypto, 2025
Despite having superior throughput and recording major operational achievements, SOL's market value still 'lags behind' ETH. Over the weekly chart, the SOL/ETH index has dropped nearly 50% since April, continuously hitting new lows.
Many believe the market is 'underrating' Solana's breakthroughs, as large capital flows still primarily prioritize Ethereum. This divergence raises the question: Is SOL undervalued, or has its potential not been adequately recognized?
What outstanding features characterize Solana's on-chain activity?
Solana's on-chain activity fluctuated as the number of daily active addresses decreased by up to 18% over the week, compared to a slight decrease of 4.2% on the Ethereum side.
SOL still made its mark as the number of daily active addresses returned to 500K, reaching 3.6 million in the last three days – approximately the total daily transactions on Ethereum.
Artemis Terminal, 2025
Although the network activity has decreased at times, Solana recently witnessed a strong recovery with an increase of 500,000 new active addresses. Compared to Ethereum, this number is equivalent to the total activity across the entire ETH network, highlighting Solana's appeal to users and investors.
When combined with the bullish IPO processing event, on-chain data reinforces Solana's role as a blockchain serving real financial flows – not just a short-term media effect.
What does this event mean for the future of Solana?
The event of Solana processing Bullish's IPO marks a turning point, affirming that this platform is ready to welcome large-scale capital flows from global financial institutions.
With operational milestones and outstanding throughput, Solana not only impresses individual investors but also attracts the attention of professional financial circles, paving the way for market-scale projects on modern blockchain platforms.
Comparison metrics between Solana and Ethereum over recent times
The table below summarizes some recent outstanding performance metrics between Solana and Ethereum, providing investors with additional practical insights into the differences between the two platforms:
Metric Solana Ethereum Monthly return 5% 15% Daily active address count (latest) 3.6 million approximately 3.6 million Growth of active addresses in the last 3 days +500K – Maximum transaction throughput (TPS) 100,000 TPS 20–30 TPS Successful processing of capital market IPO flows Already with Bullish ($1.15 billion) Unprecedented
Frequently Asked Questions
What did Solana do that was special during Bullish's IPO event?
Solana successfully processed the entire $1.15 billion IPO of Bullish entirely through stablecoin, becoming the first Layer 1 blockchain to carry out such a transaction.
How does this $1.15 billion IPO transaction affect Solana's position?
This event helps Solana make a mark with major financial institutions and affirms its ability to process capital market-scale flows on blockchain.
What does Solana's 100,000 TPS throughput mean?
The milestone of 100,000 TPS demonstrates Solana's scalability and ultra-fast transaction processing capabilities, serving large financial applications and enterprises.
Why has SOL's price not accurately reflected its on-chain operational strength?
Despite notable technical activity, market capital flows still prioritize Ethereum, causing SOL's price to grow more slowly than its technological strength.
What advantages does Solana have compared to Ethereum?
Solana excels in processing speed, low transaction fees, and the ability to handle large volumes of capital flow, but its market position still depends on recognition from large investors.
Will the next bull run lean towards Solana as it receives institutional capital?
Many experts believe Solana is attracting large financial institutions, with the potential to benefit significantly as capital flows shift from traditional platforms. (According to AMBCrypto, 2025)
What does this event suggest about the role of blockchain in the capital market?
Blockchain, specifically Solana, has proven capable of processing capital market-scale transactions quickly, transparently, and directly without intermediaries.
Source: https://tintucbitcoin.com/solana-bien-dong-wall-street-nen-luu-y/
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