$SOL Multiple Positive Resonances in the Solana Ecosystem: Grayscale Applies for Spot ETF, Large USDC Minting, and Protocol Expansion

CoinWorld news, January 27 news, the Solana ecosystem has intensively released key dynamics, attracting market attention. On the regulatory front, Grayscale submitted a 19b-4 application document for a Solana spot ETF to the U.S. SEC on January 25. If approved, it could open a new channel for institutional funds to enter the market. This move is viewed as an important test of the compliance process for mainstream public chains following Bitcoin and Ethereum ETFs, but the SEC's regulatory stance on Solana remains uncertain. In terms of on-chain activity, USDC Treasury minted an additional 250 million USDC on the Solana chain on the 26th, setting a record for the largest single issuance this month. Analysts point out that large-scale issuance of stablecoins is usually related to the growth of on-chain liquidity demand, which may indicate an increase in the activity of Solana's DEX, lending, and other scenarios. Additionally, the AI agent protocol Virtuals Protocol has announced its expansion to Solana, planning to convert 1% of transaction fees into SOL reserves and strengthen ecosystem collaboration through the Meteora liquidity pool. This protocol previously accumulated users with an 'AI agent tokenization' model on the Base chain, and this migration may further enrich Solana's DeFi and AI application scenarios. The combination of the Grayscale ETF application and the surge in on-chain activity may form a supportive effect on the SOL price in the short term. However, the market still needs to be wary of macro policy risks and the progress of ecological project implementation. As of the time of writing, SOL has not yet exited the recent fluctuation range, and discussions within the community regarding the ETF approval progress and the actual empowering effects of the protocol are heating up.