SOL (Solana) is up 3.54% in 24 hours

Gate News Bot news, on December 10, according to CoinMarketCap market, as of press time, SOL (Solana) is now trading at $137.65, up 3.54% in 24 hours, reaching a high of $146.72, and a low of $128.29, with a 24-hour trading volume of $6.051 billion. The current market capitalization is about $77.287 billion, an increase of $2.644 billion from yesterday, and now ranks 7th in the world.

Solana is a global financial infrastructure blockchain platform dedicated to providing a powerful on-chain experience for all. The platform features high speed and low cost, supporting thousands of transactions per second with a single transaction fee of less than $0.0025. The Solana network is verified by thousands of independently operated nodes, employs a proof-of-stake consensus mechanism, and has 0% net carbon emissions. The platform has attracted world-renowned companies including Shopify, Stripe, Circle, Discord, etc., and has minted more than 340 NFTs in the ecosystem, with a total of 29.7 million fee payment accounts.

Solana ecosystem applications cover a wide range of payments, games, NFTs, DeFi and other fields. Among them, Solana Pay has become the official integrated application of Shopify, supporting instant USDC transactions. DEX trading volume in the ecosystem accounts for 81% of global trading volume. The Franklin Bond Fund (FOBXX) has been listed on Solana, and Franklin Templeton offers its services through the BENJI platform. Solana Mobile’s Seeker phone has begun shipping to more than 150,000 users, integrating Seed Vault key storage and a dApp store. In addition, the Solana ecosystem was rated as the fastest-growing blockchain ecosystem by new builders by Electric Capital.

SOL’s recent important news:

1️⃣ Continuous inflow of institutional funds and deep integration with traditional finance The average daily net inflow of U.S. spot Solana ETFs remained high, with Fidelity FSOL having a net inflow of $1.18 million in a single day, with a cumulative inflow of $640 million. Philippine digital bank GoTyme has included SOL in its cryptocurrency service system for 6.5 million customers, allowing users to directly purchase and store 11 assets, including SOL, through banking applications. French financial giant BPCE has launched a crypto trading service that supports SOL transactions, with plans to reach all 12 million retail customers by 2026. Western Union is preparing to launch USDPT, a USD payment token, on the Solana network. This series of institutional-level application expansion measures further consolidates SOL’s allocation position among traditional financial institutions and brings new incremental sources of funds to the ecosystem.

2️⃣ Rapid iteration of on-chain ecological applications and strengthening of market competitiveness Solana DEX trading volume has surpassed all other chains for the 16th consecutive week, and its market share advantage remains solid. The Drift protocol released the v3 version, which increased the transaction execution speed by 10 times, with about 85% of market orders filled in half a second, and the slippage of large transactions reduced to 0.02%, further optimizing the derivatives trading experience. Figure launched the RWA Alliance to expand its on-chain lending business, which averages more than $1 billion per month, to Solana. The IPFLOW platform launched the tokenization of short dramas, and the first token was supported by more than 1 billion views on the whole network. Base and Solana launched a cross-chain bridge, with nearly $460 million of assets flowing into Solana across chains in November, of which more than 65% came from Ethereum, demonstrating the cross-chain liquidity aggregation effect. These application iterations and ecological integration strengthen Solana’s market competitiveness as an efficient trading platform.

3️⃣ Stablecoin Ecosystem Expansion and Institutional-Grade Asset Flow Acceleration Circle executed a $5 million USDC burn operation, with a cumulative burn scale of $1.5 billion since October 11, sending a signal that stablecoins are fully liquid. TSLAX issued by Backed has become the tokenized stock with the largest number of users on Solana, with 16,300 unique holders, marking the acceleration of the tokenization process of on-chain financial assets. Tako Protocol migrated from the Farcaster ecosystem to Trends, continuing to explore the direction of social tokenization in the Solana ecosystem. These stablecoin and asset tokenization initiatives provide institutional-grade funds with richer allocation options, reinforcing Solana’s role as a platform for asset diversification.

This news is not intended as investment advice, and investment should be aware of the risk of market fluctuations.