SOL (Solana) has fallen 1.42% in the last 24 hours.

Gate News Bot news, on October 21, according to CoinMarketCap data, as of the time of writing, SOL (Solana) is currently priced at $186.14, falling by 1.42% within 24 hours, with a high of $208.33 and a low of $174.74, and a 24-hour volume of $5.854 billion. The current market capitalization is approximately $101.731 billion, a decrease of about $1.465 billion compared to yesterday.

Solana is a high-performance blockchain platform that provides developers with fast and scalable infrastructure. It supports various Web3 applications, including payments, gaming, NFTs, DeFi, and DAOs. Solana is known for its high throughput, low transaction fees, and eco-friendly characteristics, with each transaction consuming energy equivalent to just a few Google searches. Currently, the Solana ecosystem is rapidly developing, attracting numerous developers and institutions to participate.

Important news about SOL recently:

1️⃣ Solana launches network performance optimization proposal The Solana Foundation has proposed the SIMD-0266 plan, introducing p-token as an efficient alternative to the SPL Token program. This optimization can reduce the utilization rate of the Token program's computing units by up to 98%, and is expected to free up about 12% of block space. Another improvement proposal, SIMD-0337, introduces a fast leader handover mechanism, advancing block production time by approximately 120 milliseconds, further enhancing network performance. These technological innovations are expected to significantly improve Solana's transaction processing capabilities and user experience.

2️⃣ Institutional investors continue to increase their holdings of SOL Multiple institutional investors are actively positioning themselves in SOL. Nasdaq-listed company DeFi Development has increased its holdings by 86,307 SOL, bringing its total holdings to 2,195,926 SOL, valued at approximately $426 million. Another listed company, Forward Industries, disclosed an investment of over $1.59 billion in purchasing SOL, with an average cost of $232.08, currently holding about 6.87 million SOL, almost all of which are staked. These large-scale institutional investments demonstrate the confidence of long-term investors in Solana.

3️⃣ Solana ecosystem continues to expand The Solana ecosystem is rapidly developing in multiple areas. The asset management scale of stock tokenization platform xStocks has exceeded $10 billion. The Uniswap Web App has launched Solana support, with trading support provided by Jupiter. In addition, a16z crypto has invested $50 million in the Solana staking protocol Jito, further improving the MEV infrastructure. These developments indicate that Solana's applications in DeFi, asset tokenization, and other fields are continuously deepening and expanding.

From a technical perspective, the price of SOL has recently shown a volatile trend. Although there has been a short-term pullback, considering the continuous optimization of network performance, the active layout of institutional investors, and the rapid development of the ecosystem, SOL still maintains strong market attention. Investors need to closely monitor the price trend and volume changes in the coming days.

This message does not constitute investment advice; investors should be aware of market volatility risks.