While crypto markets await the Fed’s interest rate cut decision to be announced on Wednesday, Ethereum’s rival Solana (SOL) is on the agenda this time.
Galaxy Investment CEO Michael Novogratz said Solana could become a settlement infrastructure for global finance. Novogratz emphasized that Solana’s daily trading capacity of more than 6 billion transactions per day is comparable to the 400-700 million daily trading volume of global securities markets.
At its BaseCamp 2025 event, Coinbase’s layer-2 network announced its plan to increase cross-chain interaction with the Solana bridge, while also hinting at a token launch.
Pantera Capital founder Dan Morehead announced that Solana is the largest investment in his fund’s portfolio, with a value of $1.1 billion. Morehead stated that Solana has outperformed even Bitcoin over the past four years.
Additionally, Kyle Samani, Chairman of Nasdaq-listed Forward Industries, announced that the company plans to deploy new funds to support the Solana-based DeFi ecosystem.
The general market expectation is that the Fed will cut the rate by 25 basis points. However, a surprise 50 basis point move could increase volatility. In this scenario, SOL/BTC and SOL/ETH pairs could gain traction.
SOL, which approached $250 over the weekend, is currently trading around $235. While other major cryptocurrencies remain stable, stocks continue to test new highs.
Meanwhile, the Bank of England proposed imposing a £10,000 ($13,600) limit on individuals’ dollar-backed stablecoin holdings. Aave CEO Stani Kulechov called the proposal “absurd” and urged the community to oppose the regulations.
*This is not investment advice.
Continue Reading: Ethereum’s Competitor, Solana (SOL), Reaches Over 6 Billion Transaction Capacity Per Day! Here Are the Latest Developments on Solana
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Author: NixCoin
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