SOL Token Drops 5.98% Amid Institutional Moves, ETF Inflows, and Major Network Upgrades
Solana (SOLUSDT) experienced a 5.98% decline over the past 24 hours, with the price dropping from 202.34 USDT to 190.23 USDT on Binance. This price movement follows a period of heightened volatility, driven by significant institutional activity such as DeFi Development Corp.'s acquisition of nearly one million SOL and strong inflows into the REX-Osprey SOL spot ETF. The recent network upgrade, which increased block size by 20% to improve scalability, and the upcoming launch of the Block Assembly Marketplace (BAM) by the Jito Foundation have contributed to increased market attention and trading volume. Despite these positive developments and robust market capitalization, the price correction appears linked to profit-taking after a strong rally, as well as technical resistance near the $209 level and overbought indicators. Solana remains actively traded, with substantial 24-hour volume and a current market cap exceeding $102 billion, as it continues to attract interest in the DeFi, NFT, and gaming sectors.
XRP Drops 8.69% After All-Time High Despite RLUSD Launch and Regulatory Wins Fueling Ledger Growth
XRPUSDT experienced a notable price decline of 8.69% over the past 24 hours, with the current price at 3.2524 USDT (Binance data). This drop follows a period of heightened activity driven by Ripple's launch of the RLUSD stablecoin, which increased engagement on the XRP Ledger and boosted total value locked by 70% in the past month. While positive regulatory developments—such as the SEC withdrawing its appeal and the GENIUS Act confirming XRP as a non-security—have supported bullish sentiment, recent market volatility and profit-taking after XRP's all-time high of $3.66 on July 17, 2025, have contributed to the short-term correction. High trading volumes (24h volume between $7.2 billion and $9.66 billion) and strong investor interest remain, with XRP's market capitalization ranging from $191.75 billion to $205.86 billion and a circulating supply of approximately 59 billion XRP.
🚀 Wall Street Embraces Tokenization—Institutional Shift Begins! 🔗📊
Goldman Sachs and BNY Mellon allegedly collaborated to provide institutional tokenized fund investments.
The banks have hired BlackRock, Fidelity, and their asset management divisions for the initiative.
A rising number of financial organizations are offering tokenized goods to customers.
BNY Mellon and Goldman Sachs (GS) launched a cooperative endeavor to let BNY customers invest in money market funds and store ownership records on GS's blockchain system.
BNY Mellon and Goldman Sachs announced a blockchain solution for money market funds (MMFs).
BNY Mellon customers may invest in money market funds, and Goldman Sachs' DAP blockchain will maintain their ownership data.
"As the financial system transitions toward a more digital, real-time architecture, BNY is committed to enabling scalable and secure solutions that shape the future of finance," said BNY Global Head of Liquidity, Financing, and Collateral Laide Majiyagbe in a tweet Wednesday.
The asset management arms of BNY, Goldman, BlackRock, Fidelity Investments, and Federated Hermes will participate. Under current regulations, BNY will keep track of and settle the money and issue mirrored token representations on Goldman Sachs' DAP blockchain.
"Using tokens representing the value of Money Market Fund shares on GS DAP® would unlock their utility as collateral and enable more seamless transferability in the future," said Goldman Sachs Global Head of Digital Assets Mathew McDermott.
JPMorgan is also entering the tokenized market with Ondo Finance, after its blockchain business Kinexys' tokenized securities transfer testing.
Since President Trump signed the GENIUS Act last Friday, stablecoin regulation has being pushed.
#BTCvsETH #JPMorgan #TRUMP #TrumpBitcoinEmpire #CryptoMarket4T $BTC $ETH $XRP
U.S. states are independently advancing #blockchain initiatives, forming task forces, proposing legislation, and exploring digital asset reserves. These efforts reflect growing interest in harnessing blockchain technology for innovation, financial infrastructure, and potential revenue, despite lacking a unified federal regulatory approach.
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