The divergence between fundamentals and price is worth tracking separately.
Price: Around Oct. 29–30, SOL came under pressure along with the broader market, briefly dipping to around $94–$95, with a 24-hour decline in the high single digits. Liquidations of derivatives longs increased during the same period, while continued redemptions from spot Solana ETFs also weighed on buying demand.
Fundamentals: Polygon Labs brought its Open Money Stack payment infrastructure to Solana. Businesses can continue using Solana for stablecoin transfers while tapping Polygon’s bank deposit, wallet, and withdrawal capabilities. The Solana Foundation says cumulative stablecoin transfers have exceeded approximately $5.7T so far this year (this figure includes transfers between wallets, not just merchant payments).
Also: Wallet provider Solflare disclosed that an external validator key incident caused an old validator to go offline, pausing rewards on approximately 1.56 million SOL (worth around $160 million). It said users’ principal remained under the control of their own stake accounts and was untouched, and that it would compensate users for rewards missed while migrating to a new validator.
What to watch next: Whether ETF net flows can stabilize, the leverage structure near the $100 level, and whether payment- and custody-related integrations translate into a visible recovery in stablecoin activity and TVL.
#Solana #SOL #稳定币 #Web3
For reference only; not investment advice / NFA
Price: Around Oct. 29–30, SOL came under pressure along with the broader market, briefly dipping to around $94–$95, with a 24-hour decline in the high single digits. Liquidations of derivatives longs increased during the same period, while continued redemptions from spot Solana ETFs also weighed on buying demand.
Fundamentals: Polygon Labs brought its Open Money Stack payment infrastructure to Solana. Businesses can continue using Solana for stablecoin transfers while tapping Polygon’s bank deposit, wallet, and withdrawal capabilities. The Solana Foundation says cumulative stablecoin transfers have exceeded approximately $5.7T so far this year (this figure includes transfers between wallets, not just merchant payments).
Also: Wallet provider Solflare disclosed that an external validator key incident caused an old validator to go offline, pausing rewards on approximately 1.56 million SOL (worth around $160 million). It said users’ principal remained under the control of their own stake accounts and was untouched, and that it would compensate users for rewards missed while migrating to a new validator.
What to watch next: Whether ETF net flows can stabilize, the leverage structure near the $100 level, and whether payment- and custody-related integrations translate into a visible recovery in stablecoin activity and TVL.
#Solana #SOL #稳定币 #Web3
For reference only; not investment advice / NFA