🚀 Week in Solana: Spot ETFs Cook, SOL Sinks to 5-Month Low
SOL dropped 16% to $138, hitting a 5-month low! Selling pressure mounts from Alameda unlocking $30M SOL tokens! Despite this, Solana spot ETFs cook! Solana derivatives hit a new ATH in October!
Here's this week's breakdown 🧵
1/6
📊 Market Overview:
Solana’s ecosystem market cap slipped 15% to $189.3B. Institutional interest surges despite price dips. Spot ETFs attract smart money with 14 consecutive days of inflows.
2/6
🏗️ DeFi & Ecosystem Metrics:
Solana’s TVL dropped 11% to $9.3 billion. Top 5 DeFi blockchains are in the red. Weekly DEX volume sank 35% but 30-day cumulative figure stays above $120 billion. The win: Solana derivatives clock a new ATH - $65 billion in October.
3/6
🏛️ Sector Moves
🔹 @vaneck_us Solana ETF is live, with SOL Strategies providing staking services.
🔹 @CashApp plans stablecoin payments on Solana, launching next year.
🔹 @Fidelity’s Solana ETF cleared NYSE approval, ready for launch soon.
🔹 Figment + OpenTrade launched a Solana stablecoin yield product targeting 15% APR via hedged staking.
4/6
🎯 Performance Highlights:
🔹 The Official 67 Coin (67): +954.52%
🔹 Surge (SURGE): +47.92%
🔹 Zera (ZERA): +46.81%
🔹 Alchemist (ALCH): +25.13%
🔹 Meteora (MET): +13.05%
5/6
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