Crypto
Solana Price Surges on Strong Institutional Demand and Record Stablecoin Supply
Solana's price has surged to $76.84, up 2.04% on the day, as the asset continues to show bullish momentum in the near term.
The Solana-linked ETFs saw significant inflows this week and last month, amounting to $7.2 million and nearly $12 million respectively, which has driven renewed institutional and retail demand for the asset.
The ecosystem participation is also strong, with over 18 million weekly active addresses and $5 billion in DeFi total value locked, while the stablecoin supply hit a record high of $17 billion.