“ The doors have opened ” – How Solana Courtise Wall Street while same Flame – DL News

Once the Mecca for original same, the next Solana movement promises to be quite important.

This is because pieces of jokes have lost their mojo shortly after their summit.

In January, more than 70,000 Solana Memecoins arrived on the market every day, and Sol jumped 20% this month and exceeded other cryptocurrencies, including Bitcoin.

In May, the number of same people offered on Solana more than divided by two as controversy, including the Fire Storm around President Donald Trump, threw a veil on the market.

Now, Solana’s donors change speed because he is looking for new cases in a very old industry – Wall Street.

Apollo Global Management, the giant of investment, launched one of its greatest funds on the network, and the Solana token has drawn investments from the Skybridge Capital Fund of Anthony Scaramucci.

Gust

In recent weeks, the sixth blockchain with a market value of $ 82 billion has experienced a burst of measures to expand its activities beyond the degens and racy tokens.

In May, the Solana Foundation concluded a tokenization agreement with R3, a global software group which manages $ 10 billion in tokenized assets for Euroclear, HSBC and Bank of America, among other traditional finance giants.

In the past two months, three listed companies have bought millions of ground tokens to add to their balance sheet in a demonstration of the Bitcoin Treasury of Michael Syalor.

Solana Labs, the development team behind the network, even opened a new head office in Lower Manhattan called Skyline.

“Making memcoins with this technology is super limited. There is a much more important market.

– Jean Herelle, Crunchdao

For an industry that prides itself on remote work and pseudonym, the creation of a base defies the ethics of Defi. But it was a breath of fresh air for certain developers.

“Having a building is such a good decision because everyone is there,” said Jean Hellelle, the founder of Crunchdao.

“You are going to New York, you spend a week and you can go to a building and ask a question directly to the Solana technological team.”

He added that the members of the Solana Foundation, the non -profit organization hearing the network, also roam the rooms.

In addition, the HUB has set the tone for what comes then by demonstrating that Solana Labs does not hesitate to take a page of the play book of traditional companies.

Solana has established its mark around the supply of ultra-fast transaction speeds to a fraction of the cost of its closest competitors, namely Ethereum.

In the past 24 hours, Solana has reached more than 4,000 transactions per second for an average cost of a semi-cine, according to Solscan data.

“Making memcoins with this technology is super limited. There is a much larger market,” said Herelle. “I call this institutional scale. Black hole. Dollars. “

Trading strategies

Herelle, who made the jump from Ethereum to Solana in 2024, said that speed was one of the main reasons why Crunchdao has changed.

Crunchdao uses automatic learning to draw trends from the blockchain activity, a crucial demand for financial institutions that seek to develop trading strategies or products for their customers.

Herelle said that thanks to Solana Labs’ team connections, he had been able to meet Franklin Templeton and BlackRock leaders in person at the Skyline office.

However, it remains to be seen if Solana can pass successfully to become the essential blockchain for financial companies.

“I’m going to see if they can do it,” said John Nahas, the business director of the development team behind layer 1 competition. DL News in April. “The casino tries to be a bank.”

“Let’s be frank, it does not help if we build something together and that it explodes.

– Christine Moy, Apollo

Standard Charterd analysts said in May that Solana prices performance will continue to slide as memecoin speculation dry.

“We can indeed be a peak peak,” wrote Geoff Kendrick. “Consequently, we expect Solana Subperform Ethereum over the next two to three years, before catching up.”

Ethereum’s domination

Meanwhile, Ethereum, the second largest blockchain, still exceeds So Solana in almost all institutional metrics, including the emission of Stablecoin, tokenized funds and decentralized financial activity.

Ethereum orders almost two thirds of the DEFI sector of $ 247 billion, while Solana holds only 9%, according to Defilma. Solana’s representatives refused to comment on this article.

However, the Solana Foundation has proven to be an agile organization capable of drawing from trends faster than the more established Ethereum network.

In April, Skybridge Capital of Scaramucci invested $ 50 million in a new soil fund marked in Canada. And Apollo, which manages $ 785 billion in assets, deployed its diversified credit fund of $ 1.5 billion in Solana in May.

This once exchanged for approximately a nickel in 2024, the ground actions strategies, the largest soil holder, have since increased by 3,900% and were included in two of the funds negotiated on the Crypto Crypto stock market.

Presence of Washington

“We have gone from Penny Stock Land to assign ourselves in some of the most powerful asset management ETFs who have requirements for who can receive allowances,” said Leah Wald, CEO of STRATEGIES, said DL News.

At the same time, supporters strengthen the presence of the network in Washington as Congress and the Trump administration establishes a regulatory framework for cryptographic industry.

In March, eminent crypto lobbyists created the Solana Policy Institute, a lobbying group to educate regulators on the role of decentralized networks like Solana.

“Their objective is that legislators think of bitcoin, then, in the following breath, think of Solana in a level alone, apart from many of these other tokens that are there, including Ethereum,” said John Darsie, partner of Skybridge Capital, said DL News.

Investors like what they see – Sol has skyrocketed more than 640% in the past two years compared to the bond of 45% of Ethereum.

“There is the first engine advantage, then there is the innovator, right?” Michael Cahill, CEO of developer Oracle Douro Labs, said DL News.

“The innovator must be an order of grandeur to disrupt more quickly, and I think that Solana was very successful.”

Faithful Defi

Although it prey to a series of breakdowns from 2020 to 2024, Solana was in the thickness of key developments in Defi.

The serum, one of the first decentralized exchanges launched on Solana in 2020, showed that onchain’s exchanges could compete with centralized versions.

The serum finally closed its doors in 2022 after the collapse of Crypto Exchange FTX, which maintained control of intelligent serum contracts.

In 2023, non -fascinable tokens or NFT flowed on Solana and even briefly exceeded total sales on Ethereum, according to Cryptoslam, an NFT analysis supplier.

“It is essential to understand the technical and economic landscape.”

– Kyle Gannon, Quicknode,

After the launch of Pump.fun in 2024, the Solana network has established itself as the essential blockchain for the same.

The project allows anyone to create a same in a few clicks. Pump.fun added live feature that creators could use a captive audience for different social channels for Gin.

This feature was finally deleted after a user turned to hanging. A DL News The investigation later revealed that the suicide attempt was a false.

However, the project has become viral and has become one of the most successful mechanisms for the integration of users into the Solana ecosystem.

Pump.fun has generated more than 11 million different same since its creation, more than $ 520 million in total cumulative income, and has generated more than 18.8 million new Solana addresses, according to statistics collected on Dune Analytics.

Various advantages

The replacement of all this action is precisely why Solana donors turn to large banks and fund managers.

One afternoon in April, the leaders of Vaneck, Fidelity and Apollo deposited at the Skyline office in Solana on East Houston Street in New York.

He had to be a start for financial institutions on the various advantages that Solana offers, Kyle Gannon, marketing director of Quicknode, said DL News. Quicknode sponsored the event.

“It’s a massive push,” he said DL News. “It is essential to understand the technical and economic landscape, especially if you are in one of these major institutions.”

Tokenized credit

Some public members were further in the learning curve than others.

Christine Moy, head of the digital assets of Apollo, set up the company’s cryptographic strategy to a captive audience.

She explained how her tokenized credit fund could be used further in Defi, how cryptographic companies can work with Apollo and, of course, risk.

“Let’s be frank,” said Moy. “It does not help the ecosystem if we build something together and that it explodes.”

She also reminded the public that the company is going nowhere.

Flanked by Nick Ducoff, the head of institution of the Solana Foundation, Moy said that she was everything.

“There is nothing that holds us at this stage,” she said. “I am ready to do gangbusters if you are. The doors were opened. “

Liam Kelly The DL News DL News correspondent. Do you have a tip? Contact liam@dlnews.com.