Solana: here’s why Wall Street should pay attention to #Sol now!
From a technical standpoint, Solana [SOL] is lagging behind Ethereum [ETH]. In monthly returns, it only registers 5% versus ETH's 15%. However, on-chain, Sol is reaching notable operational milestones.
The network recently achieved a performance of 100k TPS, highlighting its first verified peak. But more significantly, Solana fully processed Bullish's $1.15 billion IPO through Stablecoins.
Why does this matter? Bullish, a U.S. crypto exchange, raised $1.15 billion in Stablecoins, and Solana fully resolved the IPO. This makes it the first L1 to handle capital-scale flows natively.
In summary, Solana's performance is attracting institutional attention.
Ordinarily, clearing a $1.15 billion stablecoin transaction is a milestone at the network level, placing SOL on the radar for Wall Street-scale flows, far beyond the usual 'ETF pump'.
However, the divergence between Sol's on-chain firepower and price action is notable. Is Sol undervalued, or is capital still gravitating towards ETH, leaving Solana's potential underestimated?
💥Recognition of strength on-chain versus the Solana market
The relative strength of Solana versus Ethereum shows clear fatigue.
On the weekly chart, the SOL/ETH ratio has slid nearly 50% since April, printing three lower lows and showing no rebound support. At this moment, a weekly surge of 0.73% marks its fourth attempt to build a base.
On-chain, the setup looks bearish. Solana's daily active addresses have dropped nearly 18% this week, compared to Ethereum's 4.2%, indicating a pullback in network activity and softer engagement despite Sol's performance chops.
Although, zooming in, Sol's DAA has increased from 3.1 million to 3.6 million in the last three days, adding approximately 500k active addresses, nearly the same that Ethereum sees in 'total' activity.
That’s a solid acknowledgment that the market does not ignore Solana’s Network Muscle.
Combine that with the bullish IPO supply on-chain, and you have a legitimate bullish signal: Sol is moving serious capital, not just talk. As a result, its Wall Street credibility is starting to look like something beyond ETF hype.
