Key Takeaways
- • Solana is pursuing institutional adoption of stablecoins and tokenized assets as its share of onchain perpetual-contract trading volume fell from 17% to 6%.
- • The network is courting mainstream financial players including JPMorgan, Morgan Stanley, Standard Chartered, Visa, and Fiserv to move beyond meme-coin speculation.
- • Solana's price has dropped nearly 20% year to date, and related ETFs recorded about $50 million in outflows over two weeks in October, according to the article.
- • Competition from platforms such as Hyperliquid and a weak broader crypto market present headwinds to Solana's push into financial applications.
Summary
Solana is working to increase institutional use of stablecoins and tokenized assets, according to a report from Pluang. The strategy comes as the network's share of onchain perpetual-contract trading volume declined from 17% to 6%, signaling a shift away from the speculative activity that has historically driven much of its activity.
The network aims to attract mainstream financial participants, with the article naming JPMorgan, Morgan Stanley, Standard Chartered, Visa, and Fiserv as target players in its broader institutional push. The effort is intended to diversify Solana's use cases beyond meme-coin trading and into payments and financial infrastructure.
Market conditions remain challenging. Solana's price has fallen nearly 20% this year, and related exchange-traded products have seen approximately $50 million in outflows over two weeks in October. The article attributes part of the pressure to a weak crypto market and competition from Hyperliquid, which poses a challenge to Solana's growth in financial applications.
Pluang's platform data, as of October 29, 2026, shows Solana trading at Rp1.863.969 with a 1-day gain of 2.05%, a market capitalization of approximately Rp1.098,17 trillion, and a 24-hour trading volume of approximately Rp47,63 trillion. The platform also reports 64% buy orders and a typical holding period of 72 days, which the publisher interprets as steady investor engagement despite the broader headwinds.
The network aims to attract mainstream financial participants, with the article naming JPMorgan, Morgan Stanley, Standard Chartered, Visa, and Fiserv as target players in its broader institutional push. The effort is intended to diversify Solana's use cases beyond meme-coin trading and into payments and financial infrastructure.
Market conditions remain challenging. Solana's price has fallen nearly 20% this year, and related exchange-traded products have seen approximately $50 million in outflows over two weeks in October. The article attributes part of the pressure to a weak crypto market and competition from Hyperliquid, which poses a challenge to Solana's growth in financial applications.
Pluang's platform data, as of October 29, 2026, shows Solana trading at Rp1.863.969 with a 1-day gain of 2.05%, a market capitalization of approximately Rp1.098,17 trillion, and a 24-hour trading volume of approximately Rp47,63 trillion. The platform also reports 64% buy orders and a typical holding period of 72 days, which the publisher interprets as steady investor engagement despite the broader headwinds.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.