SOL (Solana) rose 1.14% in 24 hours.

Gate News Bot news, on October 30, according to CoinMarketCap, as of the time of writing, SOL (Solana) is currently priced at 196.48 USD, with a rise of 1.14% in the last 24 hours, peaking at 205.02 USD and dropping to a low of 189.11 USD, with a 24-hour volume of 8.022 billion USD. The current market capitalization is approximately 108.003 billion USD, which is an increase of 1.215 billion USD compared to yesterday.

Solana is a powerful blockchain platform that provides developers with fast and scalable infrastructure, supporting a variety of experiences from ordinary users to professionals. The platform supports transaction processing capabilities of up to thousands of transactions per second, with transaction fees as low as $0.0025. The Solana network is validated by thousands of independent nodes, ensuring data security and censorship resistance. In addition, Solana adopts a proof-of-stake mechanism, which has high energy efficiency, with the energy consumption of a single transaction comparable to just a few Google searches.

Important news about SOL recently:

1️⃣ Institutional Investment Product Expansion

Fidelity has submitted an updated S-1 filing for its SOL ETF, removing the delay amendment that prevents the automatic effectiveness of the registration, granting the SEC control over the timing. In addition, the first 100% Solana staking ETF launched by Bitwise has been listed on the NYSE, with the stock code BSOL. The launch of these institutional-grade investment products reflects strong interest from institutional investors in SOL, which is expected to bring more liquidity and investment demand for SOL.

2️⃣ The ecosystem is developing rapidly

The DeFi locked value on Solana has reached a new high, totaling 62.3 million SOL. The perpetual contract DEX Pacifica has seen a trading volume of over $28 billion in the past 30 days, with a total locked value exceeding $37 million. These figures indicate that the Solana ecosystem is rapidly expanding across various sectors, attracting a large number of users to participate.

3️⃣ Cross-chain bridge function enhancement

The Solana–Starknet Bridge powered by Hyperlane has officially launched to StarkGate, enabling cross-chain transfers of 7 Solana native assets including SOL, DREAMS, TRUMP, JUP, BONK, PUMP, and Fartcoin to Starknet. This development will further enhance Solana's cross-chain interoperability, providing users with more options and liquidity.

From a technical perspective, the SOL price has recently shown a trend of fluctuating rise. Considering the expansion of institutional investment products, the rapid development of the ecosystem, and the enhancement of cross-chain capabilities, SOL still maintains strong market attention. However, investors need to closely monitor the price trends and volume changes in the coming days to assess potential risks.

This message is not intended as investment advice; investors should be aware of market volatility risks.