Solana (SOL) on the Rise: Institutional Investors Pile In, Stripe Chooses Solana for USDC Payments
Solana (SOL) is experiencing a surge in popularity, with institutional investors increasing allocations and payment giant Stripe selecting Solana for USDC stablecoin settlements.
Institutional Interest
A recent CoinShares survey shows a significant rise in institutional investment in Solana. Nearly 15% of surveyed wealth managers and hedge funds now hold SOL, compared to none in January.
Stripe Selects Solana
Stripe is re-entering the crypto payments space and will use USDC on the Solana blockchain for fast and cost-effective transactions. This move validates Solana’s potential for real-world applications.
Solana’s Resilience
Despite the FTX bankruptcy and broader market correction, Solana’s price has remained relatively stable, currently trading around $146.
Pantera Capital Acquires More SOL
Investment firm Pantera Capital continues to acquire SOL tokens from the FTX bankruptcy liquidation, showcasing their long-term bullish sentiment.
Solana Ecosystem Grows
Solana’s strong ecosystem development and ongoing technical updates contribute to its overall appeal.
SOL Tokenomics Play a Role
The planned gradual unlocking of 41 million locked SOL tokens over four years aims to prevent market saturation and price volatility.
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