According to the reports, the buzz of social networks around Solana (Sun) has reached a peak, driven by Bitcoin play of $ 1.3 billion Gamestop (BTC) and the recent expansion of Blackrock in the block chain.
This increase in institutional interest has fed an overwhelmingly positive feeling towards Solana, with Santiment informing a positive to negative feeling of 18: 1 almost record.
Institutional support increases Solana’s appeal
On March 26 mail In X, Santiment said:
“With the news that institutions such as Gamestop and Blackrock are integrating Bitcoin and launching treasure funds that support the yield in Solana, Capitalization asset #5 of Crypto 5 is seeing an amazing level of bullish feeling that is coming into social networks.”
According to the analysis platform, the high level of positivity is driven by the belief that institutional support could accelerate the adoption of Solana and strengthen its market position.
Many see Blackrock’s decision to integrate Solana in his Tokenized Monetary Market Fund, Buidl, as a great support of Blockchain’s capabilities. Since its launch in March 2024, Buidl has grown to $ 1.7 billion, under the US Treasury Market. UU. And surpassing rivals such as Ondo and Franklin Templeton.
Gamestop has also submerged his feet in the cryptography group, announcing plans to raise $ 1.3 billion to buy Bitcoin. The movement reflects the aggressive accumulation of BTC of the strategy, validating further digital assets as a guarantee of institutional degree.
Meme coins frenzy contributes to Solana’s growth
In addition to the institutional influence, the Solana Memes currency space seems to have been revitalized after a brief pause in part caused by the Libra debacle, in which investors lost more than $ 250 million after experts charged early, which makes the value of the token struck 85%.
Pump.fun, which recently launched a native decentralized exchange (DEX) to compete with Raydium, registered more than 34,000 meme coins releases on March 24, eclipseing the 20,190 created at the beginning of the month.
The brilliant performance of the newly released Meme Coin Ghiblification (Ghibli) has further illuminated the space. Inspired by a wave of Studio Ghibli style images shared by Chatgpt users on social networks, the Token shot by 35,000% striking at a time since he headed live.
Meanwhile, the price of sun has responded positively to the changing feeling. The asset was quoted at $ 138.60 at the time of writing this, which, despite a 4.4% setback in the last 24 hours, reflects a gain of 3.8% last week.
As things are, Sol is overcoming both BTC and the broader cryptography market, with the number one cryptocurrency for market capitalization up to only 2% in seven days.
Free Binance $ 600 (Cryptopotato Exclusive): Use this link to record a new account and receive an exclusive welcome offer of $ 600 in Binance (Complete details).
Limited offer for Cryptopotate readers at Bybit: Use this link to register and open a free $ 500 position in any currency!
