Gate News Bot Message, February 5th, according to CoinMarketCap data, as of press time, SOL (Solana) is trading at $92.30, down 7.07% in the past 24 hours, with a high of $118.87 and a low of $90.58. The 24-hour trading volume reached $7.127 billion. The current market capitalization is approximately $52.293 billion, a decrease of about $3.978 billion from yesterday.
Solana is a leading high-performance blockchain network globally, dedicated to providing underlying infrastructure for internet capital markets, payments, and crypto applications. The network has become the preferred platform for startups and enterprises, boasting the most users, the most developers, the highest transaction activity, and the strongest real-world throughput.
Currently, top global institutions and fintech companies such as Western Union, Visa, Circle, and PayPal are building innovative applications on Solana. WisdomTree has expanded its complete tokenized fund suite to Solana, Ondo Global Markets offers over 200 tokenized US stocks and ETFs, and Franklin Templeton’s assets on the network are growing at a monthly rate of 64%. Additionally, Solana has partnered with Fireblocks to provide enterprise-grade treasury infrastructure, and integrated USDT0, offering $17.5 billion in USDT liquidity worldwide, supporting efficient financial infrastructure for institutional investors and application developers.
Important Recent News on SOL:
1️⃣ US Spot ETF Continues to Attract Funds, Institutional Attitudes Remain Steadfast
Solana spot ETF saw a net inflow of $6.69 million on January 28th, with Bitwise SOL ETF contributing $5.01 million and Fidelity SOL ETF adding $1.11 million. As of press time, the total net asset value of Solana spot ETFs reached $1.08 billion, with a total net inflow of $884 million. This indicates that despite short-term price pressures, institutional investors remain enthusiastic about long-term allocation to SOL, continuously increasing exposure through compliant channels.
2️⃣ Large-Scale Fund Transfers Out of Exchange Custody, Possibly Indicating Structural Changes During Adjustment Period
40,000 SOL (worth approximately $5.0388 million) transferred from exchange custody address Bitgo Custody to an anonymous address. Such large fund movements typically reflect holders’ expectations of future price trends and may suggest some institutions or large holders are rebalancing their portfolios during the current correction.
3️⃣ Whale Investors Still Holding Positions Despite Unrealized Losses, Reflecting Market Bottom Perception
Some large holders are maintaining long positions on SOL despite unrealized losses of about $46 million, while also holding ETH and BTC long exposure. This contrarian behavior indicates that institutional-level investors still have confidence in Solana’s medium- to long-term fundamentals, though market participants have differing views on the nature of the current price correction.
This message is not investment advice. Investors should be aware of market volatility risks.
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