The Key Takeaways
Solana settled Bullish’s $1.15bn IPO in Stablecoins. SOL Are we finally ready to experience the Wall Street moment?
Technically, Solana [SOL] Is lagging Ethereum [ETH] On a monthly basis, SOL returns 5% compared with ETH’s 15 %. SOL has achieved notable milestones on-chain.
Recent network activity achieved A 100k TPS peak, which is its first confirmed one. Solana’s processing of Bullish’s $1.15bn IPO was done entirely with stablecoins.
Why is this important? Bullish is a US-based cryptocurrency exchange that raised $1.15bn in stablecoins. Solana paid for the entire IPO. That makes it the first L1 to handle capital-market–scale flows natively.
Source: X
Solana’s work is drawing attention from the institutions.
Ordinarily clearing $1.15 billion stablecoin transaction is a network-level milestone, putting SOL on the radar for Wall Street–scale flows—well beyond the usual “ETF hype.”
It is interesting to note the difference between SOL’s price and on-chain power. SOL’s price is undervalued. Is it because capital continues to flow towards ETH and Solana’s potential has been undervalued?
Solana’s chain strength and market recognition
Solana versus Ethereum’s relative power is clearly showing signs of weakness.
SOL/ETH is down nearly 50% in the last four months, with three lows that are lower than the previous ones. This ratio also hasn’t been able to find a strong support. Right now, the 0.73% week-to-week surge is its fourth attempt to establish a foundation.
In-chain setup It looks bearish. Solana’s active daily addresses have dropped almost 18% in the past week, while Ethereum has only fallen 4.2%. These numbers indicate a slowdown of network activity and engagement, despite SOL’s gains.
Source: Artemis Terminal
SOL has seen its DAA increase from 3.1 to 3.6 millions in the past three days. This is roughly the same amount of addresses that Ethereum adds. “total” activity.
It’s clear that you have a good point. market isn’t ignoring Solana’s Network Muscle
This, coupled with the Bullish Initial Public Offering clearing through on-chain is a bullish sign that SOL has real money moving. Its Wall Street credentials are starting to appear more than ETF hype.
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Source: ambcrypto.com
