SOL (Solana) increased by 2.67% in the last 24 hours

Gate News Bot Message, January 28th, according to CoinMarketCap data, as of press time, SOL (Solana) is currently priced at $127.08, up 2.67% in the past 24 hours, with a high of $131.84 and a low of $117.58. The 24-hour trading volume reached $3.698 billion. The current market capitalization is approximately $71.935 billion, an increase of $1.873 billion from yesterday.

Important recent news about SOL:

1️⃣ Accelerated Infrastructure Development in Ecosystem Finance Attracts Institutional Participation Over the past year, Solana’s ecosystem development focus has shifted clearly toward financial infrastructure, emphasizing decentralized finance, trading, and payments. The network is focusing on high-throughput on-chain transactions, market structure, and settlement, forming a prototype of internet capital markets. This shift has attracted significant institutional attention. Although crypto-native investors remain cautious, traditional financial institutions like Morgan Stanley are accelerating their involvement, including appointing a digital asset strategy head and submitting applications for spot Solana ETFs. Institutional entry is becoming a key driver of SOL’s medium- to long-term upward trend.

2️⃣ Large-Scale Stablecoin Inflows Create Trading Foundation Support In the past seven days, the Solana network added nearly $1.3 billion in stablecoin supply, ranking first among all blockchains. Meanwhile, Circle has issued about 500 million USDC on the Solana network in the past 24 hours. Nearly $80 million crossed from other chains to Solana in the past week, with over $50 million coming from Ethereum alone. The abundant stablecoin liquidity provides a solid trading foundation. The US Solana spot ETF also continues to see net inflows, with a single-day net inflow of $2.46 million, and a total net inflow of $876 million historically. This liquidity concentration offers substantial support for SOL’s price.

3️⃣ Moonbirds Ecosystem Token Launch Expands Application Ecosystem and Attractiveness Moonbirds announced the BIRB token economic model and launched it on the Solana blockchain on January 28th. 65% of the total supply is allocated to the community, with 27% for holders, 12% for ecosystem partners, 10% for value chain incentives, and 8% for liquidity. The token launch reflects Solana’s innovative exploration of integrating NFTs and financial scenarios. Through community incentive mechanisms, it aims to build a closer ecosystem and further diversify applications on the Solana chain.

4️⃣ On-Chain Activity Remains Leading, DEX Trading Depth Sufficient Solana maintains a leading position in decentralized trading, with 24-hour DEX trading volume remaining high, and the stablecoin market cap on-chain staying above $14 billion. The new token issuance on the network exceeded 52,000 tokens within 24 hours, reaching a five-month high, indicating ongoing ecosystem activity and innovative project emergence. This ecosystem prosperity is reflected not only in trading volume but also in the staking ratio reaching a record high of about 70%, demonstrating strong confidence among long-term holders in the network’s fundamentals.

5️⃣ Short-Term Technical and Capital Battles Reach a Critical Point Recent on-chain activity by large funds shows a tug-of-war between bulls and bears. In the past 24 hours, 146,000 SOL worth approximately $182 million was transferred to anonymous addresses, while 36,400 SOL was transferred out from anonymous addresses. Professional traders are exhibiting high leverage operations in derivatives markets, including closing short positions and opening new long positions simultaneously. This intensifying battle between bulls and bears, combined with the ongoing stablecoin inflows, is building upward momentum within the $120 to $130 range for SOL.

This message is not investment advice. Please be aware of market volatility risks.