Solana is a high-performance blockchain platform, providing developers with a fast, scalable, and decentralized infrastructure. It supports various Web3 application scenarios, including payments, gaming, NFTs, DeFi, and DAOs. The Solana network uses an innovative consensus mechanism, capable of processing thousands of transactions per second while maintaining low transaction fees and environmental compatibility.
Recent important news about SOL:
1️⃣ Institutional investors continue to favor The first week of trading for the Solana spot ETF in the United States recorded a net inflow of 199 million dollars, including 197 million dollars in net inflow for Bitwise's BSOL and 2.2 million dollars for Grayscale's GSOL. This indicates that institutional investors maintain a strong interest in SOL, which should provide ongoing financial support and liquidity to SOL.
2️⃣ Continued expansion of the ecosystem The perpetual futures trading platform on the Solana chain, Pacifica, announced an increase in weekly point distribution to 10 million. Currently, the number of active users on the platform reaches 27,000, with weekly transaction volume exceeding 5 billion dollars. Additionally, the OCM project from Orama Labs, ZENO, has been launched on the Solana network, with the simultaneous launch of the first MVP version for developers of ZENO Scene. These developments show that the Solana ecosystem is rapidly expanding across various areas, attracting a large number of users.
3️⃣ Active exchanges among major institutions Jump Crypto executed a significant SOL-BTC exchange with Galaxy Digital. Jump Crypto transferred 1.1 million unstaked SOL tokens to Galaxy Digital in 15 minutes, valued at approximately 205 million dollars, in exchange for 2,455 BTC, valued at around 265 million dollars. This reflects sustained interest from major institutions in trading SOL, which could influence supply and demand in the market in the short term.
From a technical perspective, the price of SOL has dropped by 9.35% over the last 24 hours, showing strong corrective pressure. However, given the ongoing absorption of institutional investment products, the rapid development of the ecosystem, and active exchanges among major institutions, SOL maintains strong attention in the market. Investors should closely monitor price movements and volume variations in the coming days to assess potential risks.
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