SOL (Solana) increased by 1.14% in the last 24 hours

Gate News Bot Message, February 3rd, according to CoinMarketCap data, as of press time, SOL (Solana) is trading at $103.65, up 1.14% in the past 24 hours, with a high of $127.97 and a low of $96.43. The 24-hour trading volume reached $6.472 billion. The current market capitalization is approximately $58.71 billion, an increase of $6.6 million from yesterday.

Solana is a high-performance network leading the internet capital markets, providing infrastructure for payments, capital markets, and crypto applications. As the fastest-growing financial platform, Solana has the most users, developers, trading activity, and the highest actual transaction throughput. To date, it has processed billions of transactions, with 50 million monthly active addresses, a monthly trading volume of 3.5 billion transactions, and a total transaction volume of $3.3 trillion, generating $3.4 billion in application revenue.

Solana has become the development platform for the world’s largest institutions and fintech companies, including Western Union, Visa, PayPal, and others, with multiple institutions launching stablecoins and tokenization products. The network supports over $10 billion in regulated on-chain assets and has partnered with top global asset management firms like BlackRock and VanEck.

Important recent news about SOL:

1️⃣ Traditional financial institutions accelerate deployment to promote ecosystem financial infrastructure development
Over the past year, the Solana ecosystem has clearly focused on building financial infrastructure, with the network focusing on high-throughput on-chain transactions, market structure, and settlement, gradually constructing the foundational framework for internet capital markets. Although crypto-native investors remain cautious, traditional financial institutions, led by Morgan Stanley, are accelerating their involvement, including appointing digital asset strategy leaders and submitting applications for spot Solana ETFs. Asset management firms like WisdomTree are also launching tokenized fund products on Solana, providing institutional-grade infrastructure for professional investors to trade and hold. This shift marks Solana’s evolution from purely crypto applications to mainstream financial infrastructure, with institutional participation becoming a core driver supporting SOL’s medium- to long-term rise.

2️⃣ Continuous net inflows into spot ETFs and large-scale inflows of stablecoins provide dual support
The US Solana spot ETF has shown sustained capital attraction, recording significant net inflows over the past week, with Bitwise SOL ETF BSOL’s total net inflow reaching $690 million, with a total net asset value of $1.08 billion, and a cumulative net inflow of $884 million. More importantly, Solana’s network recorded approximately $1.3 billion in stablecoin net inflows over the past week, ranking first among all blockchain networks. Circle issued about 500 million USDC on Solana in the past 24 hours, and nearly $80 million crossed chains into Solana in the past week, with over $50 million coming from Ethereum alone. The abundant stablecoin liquidity and continuous ETF net inflows provide substantial support for SOL’s price, reflecting ongoing optimism from institutions and retail investors toward Solana.

3️⃣ Ecosystem application layer continues to innovate, expanding trading depth and user base
The Solana ecosystem has made significant progress in application diversification. Moonbirds announced the BIRB tokenomics model, with 65% of the total supply allocated to the community, including 27% for holder rewards, demonstrating innovation in NFT and financial scenarios. USD1 has become the fastest-growing tokenized asset on Solana, with a month-over-month increase of 191.8%, confirming strong demand for tokenized assets on-chain. Pump.fun, despite regulatory pressures, set multiple milestone records in January, with daily active addresses reaching about 300,000, the highest since early last year, with over 50% being newly created wallets, indicating a large influx of new users into the Solana ecosystem. The platform adds nearly 39,000 new tokens daily, reaching a multi-year high, and the number of “graduated” tokens tradable on secondary markets hit a six-month high. These indicators reflect active ecosystem growth and ongoing innovative projects, providing sustained momentum for SOL’s network usage.

4️⃣ On-chain transaction activity and developer ecosystem remain industry-leading
Solana maintains a leading position in decentralized trading, with 24-hour DEX trading volume remaining high, and the on-chain stablecoin market cap staying above $14 billion. The network added over 52,000 new tokens in 24 hours, the highest in five months, indicating continuous emergence of innovative projects. The staking ratio reached a new high of about 70%, showing confidence among long-term holders in the network’s fundamentals. Meanwhile, daily new Memecoin creations hit an 11-month high, with on-chain activity metrics such as Launchpad trading volume and active addresses also reaching new peaks. Developer activity, transaction count, and wallet participation remain higher than most Layer-1 networks, indicating that Solana’s fundamentals are stable and network demand remains resilient.

5️⃣ Large on-chain fund movements and bullish derivatives market indicate a shift in market sentiment
Over the past week, large SOL transfers on-chain have been frequent, showing active repositioning by institutions and whales. A total of 146,000 SOL worth about $182 million moved into anonymous addresses, while 36,400 SOL moved out from anonymous addresses. The mixed transfer pattern reflects active market positioning. In the derivatives market, long positions have significantly increased, with traders adding bullish bets, and long positions now clearly surpassing short positions. Professional traders are using high-leverage contracts to bet on upward movement, indicating improved short- to medium-term sentiment. The total staked SOL on Gate has surpassed 513,900, with an annualized yield of around 16%, demonstrating ongoing user confidence in the network’s long-term value. The expansion of staking further reinforces the network’s capital commitment.

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