Let’s record this tonight, SOL.
This morning it was still hanging around 124.41. This afternoon it got hammered all the way down to 117.58, closing at 118.16. Today it’s down 5.02%, with single-day trading volume of 2.49 billion SOL. Three facts laid out:
1. In the past 24 hours, Solana DEX trading volume reached $3.25 billion, putting Robinhood Chain’s $2.72 billion behind it. It didn’t lose the #1 position on-chain. A week ago, Robinhood Chain stole the top spot, and now it has taken it back again.
2. DeFi Dev Corp publicly holds 2.39 million SOL, and has continued adding recently. The company’s money hasn’t moved—retail is panicking, while institutions are buying.
3. Bitwise’s BSOL ETF saw net inflows of $110 million last week, and the BlackRock line hasn’t broken. Last week, the U.S. SEC also provided guidance for staking receipt tokens, classifying them as digital commodity-like instruments.
On the exchange floor it’s quiet; off-exchange, money keeps coming in. Tomorrow we’ll see whether 117 can hold.
This morning it was still hanging around 124.41. This afternoon it got hammered all the way down to 117.58, closing at 118.16. Today it’s down 5.02%, with single-day trading volume of 2.49 billion SOL. Three facts laid out:
1. In the past 24 hours, Solana DEX trading volume reached $3.25 billion, putting Robinhood Chain’s $2.72 billion behind it. It didn’t lose the #1 position on-chain. A week ago, Robinhood Chain stole the top spot, and now it has taken it back again.
2. DeFi Dev Corp publicly holds 2.39 million SOL, and has continued adding recently. The company’s money hasn’t moved—retail is panicking, while institutions are buying.
3. Bitwise’s BSOL ETF saw net inflows of $110 million last week, and the BlackRock line hasn’t broken. Last week, the U.S. SEC also provided guidance for staking receipt tokens, classifying them as digital commodity-like instruments.
On the exchange floor it’s quiet; off-exchange, money keeps coming in. Tomorrow we’ll see whether 117 can hold.
