SOL (Solana) fell 5.94% in 24 hours

Gate News Bot news, on January 30, according to CoinMarketCap market, as of press time, SOL (Solana) is now trading at $117.46, down 5.94% in 24 hours, reaching a high of $129.73, and falling back to $115.42, with a 24-hour trading volume of $6.082 billion. The current market capitalization is approximately $66.503 billion, down approximately $4.198 billion from yesterday.

SOL’s recent important news:

1️⃣ The continuous layout of institutional funds and the net inflow of spot ETFs provide price support Solana spot ETFs have maintained a stable net inflow trend recently, with single-day net inflows fluctuating between $2 million and $6.69 million, and the cumulative net inflow has exceeded $884 million. Among them, Bitwise SOL ETF BSOL was the main inflow channel, with a total historical net inflow of US$690 million, followed by Fidelity SOL ETF FSOL with a total historical net inflow of US$152 million. At the same time, institutional investor participation at the spot level has increased, with SOL recording a cumulative institutional inflow of approximately $92.9 million between early January and January 23, second only to Bitcoin among major crypto assets, reflecting the continued institutional optimism about Solana’s fundamentals.

2️⃣ Large-scale inflows of stablecoins form a foundation of abundant liquidity In the past seven days, the Solana network has added nearly $1.3 billion in stablecoin supply, ranking first among all blockchains. Circle issued about 500 million USDC on the Solana network within 24 hours, and nearly $80 million in funds cross-chain to Solana in the past seven days, including more than $50 million cross-chain from Ethereum alone. Abundant stablecoin liquidity provides traders with a sufficient trading foundation, allowing SOL to receive stronger liquidity support during the price adjustment process.

3️⃣ The construction and application expansion of ecological infrastructure enhance long-term attractiveness WisdomTree has expanded its tokenized funds to the Solana blockchain, allowing both institutional and individual investors to issue, trade, and hold tokenized funds on Solana, advancing its multi-chain development strategy. Morgan Stanley has appointed a head of digital asset strategy and plans to launch its own digital wallet, while submitting an application for spot Solana ETF listing, indicating that traditional financial institutions are accelerating their layout. Moonbirds announced the BIRB tokenomics model and launched it on the Solana blockchain, with a community allocation of 65%, further enriching the diversity of ecological application scenarios. These measures collectively point to the transformation of the Solana ecosystem from speculation-driven to financial infrastructure construction.

4️⃣ The recovery in on-chain activity and derivatives bulls indicates an improvement in market sentiment Although the number of daily active validators on Solana has shrunk, the network’s basic user activity has remained stable, with daily non-voting transactions such as DApp interactions and token transfers reaching about 100 million, and DEX transaction activity and trading volume rank among the top in the industry. In the derivatives market, traders have significantly increased their bullish positions, with the number of long positions exceeding that of shorts, and market expectations are correcting upwards. Recently, there have been frequent activities of transferring large amounts of SOL to on-chain addresses, indicating that professional traders are laying out the follow-up market.

5️⃣ The recovery of the meme coin ecosystem and the record high staking scale reflect holder confidence The number of daily meme coin creations on the Solana chain hit an 11-month high, the number of daily active addresses on the Pump.fun platform rose to about 300,000, the peak since the beginning of last year, the number of “graduated” tokens hit a new high in more than six months, and the average number of SOL repurchased on the platform exceeded 19,000 per day, setting a single-day record. The total amount of SOL pledged on the Gate platform exceeded a new high of 513,900, with an annualized rate of return of 16%, and the overall pledge ratio of the network rose to a record high of about 70%, indicating that long-term holders’ confidence in the network’s fundamentals remains solid.

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