Solana Price Surges Above $120, Stablecoin Market Cap Sets Record

Solana's price has broken above $120 for the first time in nearly eight months. The token reached as high as $122.33 before pulling back slightly, still up about 2.8% over 24 hours.

The Solana Foundation reported that real-world assets on the network have grown beyond $4.5 billion, while stablecoin market capitalization has set a new record at approximately $17.39 billion.

Notably, this price move coincides with the expansion of payments and tokenized assets on Solana. The network supports tokenized equities, ETFs, private credit, and commodities, with BlackRock's BUIDL fund holding over $550 million represented on the chain.