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Solana (SOL) on the Rise: Institutional Investors Pile In, Stripe Chooses Solana for USDC Payments

Solana (SOL) on the Rise: Institutional Investors Pile In, Stripe Chooses Solana for USDC Payments

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

 

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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.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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