Solana (SOL) is experiencing a surge in popularity, with institutional investors increasing allocations and payment giant Stripe selecting Solana for USDC stablecoin settlements.

Institutional Interest

A recent CoinShares survey shows a significant rise in institutional investment in Solana. Nearly 15% of surveyed wealth managers and hedge funds now hold SOL, compared to none in January.

Stripe Selects Solana

Stripe is re-entering the crypto payments space and will use USDC on the Solana blockchain for fast and cost-effective transactions. This move validates Solana’s potential for real-world applications.

Solana’s Resilience

Despite the FTX bankruptcy and broader market correction, Solana’s price has remained relatively stable, currently trading around $146.

Pantera Capital Acquires More SOL

Investment firm Pantera Capital continues to acquire SOL tokens from the FTX bankruptcy liquidation, showcasing their long-term bullish sentiment.

Solana Ecosystem Grows

Solana’s strong ecosystem development and ongoing technical updates contribute to its overall appeal.

SOL Tokenomics Play a Role

The planned gradual unlocking of 41 million locked SOL tokens over four years aims to prevent market saturation and price volatility.