Solana Powers Kalshi as TradFi Giants Flock to SOL

Crypto markets remain on edge following Bitcoin's decline below $90K for the second time this month, resulting in significant liquidations and a total of over $900 million wiped away from traders due to thin liquidity.

The Solana ecosystem has seen its market capitalization decrease by 5% to $174 billion while trading volume slumped 8% to $14.5 billion, with SOL itself down 6% after reaching a low of $128.

Institutional interest in Solana remains strong, however, as Vanguard allows clients to trade funds with Solana exposure and Cantor Fitzgerald's latest SEC filing shows its first stake in a regulated Solana ETF.