Solana Soars as Adoption Ramps Up Amid Regulatory Clarity

Solana's price rose nearly 6% over the past 24 hours as investors reacted to the Federal Reserve's interest-rate increase. The token initially fell to around $96 after Fed Chair Kevin Warsh emphasized the central bank's commitment to controlling inflation.

Buyers entered the market and pushed Solana above $100 within 48 hours, with the token now trading at $106 on Friday.

The rally comes as Solana continues to gain adoption, with several developments adding to activity around the network. Galaxy, a Nasdaq-listed firm with over $7 billion in assets under management, announced that it now curates two lending vaults on Kamino, one in USDC and one in USDT.

Injective's INJ token went live on Solana, and Project Harmonia linked Allfunds' distribution network to tokenized funds built on the blockchain. SEC Chair Paul Atkins also commented that the agency would act within its existing authority to provide certainty for investors and technology entrepreneurs.