Metaplex has just launched a compliance token standard, MPL-3643, for institutions. A lot of people read it as, “securities are going up to Solana.”
Breaking it down: it’s still a limited closed beta version right now, and the official hasn’t even announced the name of the first issuer. Meanwhile, on Ethereum, the comparable ERC-3643 already carries about $28 billion in assets; on Solana, the standard has just been released, and real assets haven’t caught up yet.
Market snapshot (Binance spot): it’s around 118.4 now, with a 24-hour high of about 121.7 and a low of about 117.4. This week’s high was around 125, and it has already retraced some.
What I think: the direction is good, but you need to wait for the first issuer to truly roll it out before there will be real, tangible capital. The current buzz about the news is running ahead of the money, so it’s normal for the price to pull back.
How I’ll act: I won’t chase around 118. I’ll wait for 116–117 to hold before taking a small position. My first target is 120–121. If it breaks below 115.5, I’ll exit. Keep the position size light.
$SOL
Breaking it down: it’s still a limited closed beta version right now, and the official hasn’t even announced the name of the first issuer. Meanwhile, on Ethereum, the comparable ERC-3643 already carries about $28 billion in assets; on Solana, the standard has just been released, and real assets haven’t caught up yet.
Market snapshot (Binance spot): it’s around 118.4 now, with a 24-hour high of about 121.7 and a low of about 117.4. This week’s high was around 125, and it has already retraced some.
What I think: the direction is good, but you need to wait for the first issuer to truly roll it out before there will be real, tangible capital. The current buzz about the news is running ahead of the money, so it’s normal for the price to pull back.
How I’ll act: I won’t chase around 118. I’ll wait for 116–117 to hold before taking a small position. My first target is 120–121. If it breaks below 115.5, I’ll exit. Keep the position size light.
$SOL
