Solana (SOL) — Onchain News & Whale Tracking

Solana TVL Hits All-Time High in SOL Terms, DEX Activity High, But SOL Price Still Under Pressure

On April 6th, as per Cointelegraph, although SOL's price declined by 9% from March 28th to April 4th, Solana's on-chain metrics have remained robust. On April 2nd, the total value locked (TVL) for DApps on the Solana network reached 53.8 million SOL, attaining a new high since June 2022, which is equivalent to $6.5 billion, and leading BNB Chain by around $780 million. The key DApps include Jito, Jupiter, and Kamino. Simultaneously, DEX trading volume has demonstrated strength, with Solana capturing a 24% market share, surpassing BNB Chain (12%) and Base (10%). However, on April 4th, a substantial unlock of 1.79 million SOL generated selling pressure, combined with a decreasing interest in memecoins, resulting in uncertainty regarding a short-term price rebound. Despite being embroiled in MEV controversies, Solana continues to receive developer and user support in terms of underlying scalability and Web3 experience, thereby solidifying its position as the second-largest decentralized

Grayscale Submits Solana ETF S-1 Form to SEC

On April 4th, as per the U.S. Securities and Exchange Commission (SEC) website, Grayscale submitted the S-1 form for the Solana ETF to the SEC today.

The blockchain game Infected has announced it will migrate from Base to Solana, citing limitations in EVM scalability.

On April 4th, the blockchain gaming project Infected announced that it will transfer from Base to Solana. It was stated that Base was unable to handle the high volume of transactional demands when their game went live, and this issue was regarded as a structural scaling bottleneck faced by all EVM chains. The team indicated that Solana is more suitable in terms of the user base and developer culture for building consumer-facing applications. In response, Jesse Pollak, the leader of the Base Protocol, stated that the Base network was operating smoothly during Infected's launch and that the project encountered frontend issues. The Base team was actively providing support.

Circle minted 250 million USDC on Solana 5 hours ago

On April 4th, as per the monitoring of Onchain Lens, Circle minted an extra 2.5 billion USDC on the Solana blockchain 5 hours ago. As of the present moment, by 2025, Circle has minted a cumulative total of 11.75 billion USDC on Solana.

0x-developed decentralized exchange aggregator Matcha has expanded to Solana

On April 4th, as reported by The Block, Matcha, the decentralized exchange aggregator developed by 0x, has expanded to Solana. It has become one of the first DEX aggregators to support trading on both the SVM and EVM-compatible blockchains, achieving this through a single application. 0x and Matcha's co-founder and CEO, Will Warren, stated in a declaration: "We are excited to bring Matcha to Solana, allowing traders to access both the Solana and EVM ecosystems seamlessly in one place." 0x is a backend protocol designed to enable the operation of decentralized exchange platforms, but it is not a DEX itself. Matcha is a frontend platform built by 0x Labs. It leverages 0x's aggregation service as well as other liquidity sources such as Uniswap, SushiSwap, and 1inch to provide users with the best trade prices.

Solana Breakout Hackathon is now open for registration

On April 3rd, as per official channels, Colosseum, the growth organization founded by the former Growth Director of the Solana Foundation, has made an announcement. The Solana Breakout Hackathon is now open for registration, and the deadline for product submission is May 16, 2025. All hackathon winners will be granted an interview and have the opportunity to join the Colosseum accelerator program.

Blockchain Association CEO has announced that he will step down and join Solana

On April 2nd, Kristin Smith announced on the X social platform that she will officially resign as the CEO of the Blockchain Association on May 16, 2025. Then, on May 19, she will join Solana and serve as the president of the Solana Policy Research Institute, guiding its policy strategy layout. Smith reviewed the industry advocacy and regulatory dialogues she had led during her tenure. She stated that although she is leaving her current position, it is not a farewell to the crypto industry but a "change of perspective." Currently, the Blockchain Association Board of Directors has initiated the process of selecting the successor to the CEO.

Circle Issues 250 Million USDC on the Solana Network

On April 1st, as monitored by Whale Alert, Circle minted 250 million USDC on the Solana network at 20:20 today.

Solana co-founder Toly has updated their Twitter profile picture to Taproot Wizards.

On March 27th, the co-founder of Solana, Toly, updated his avatar on the X platform to Taproot Wizards. Before this piece of news, the NFT project Taproot Wizards in the Bitcoin ecosystem set the starting price of the Dutch auction at 0.42 BTC and supported bidding using SOL.

Solana has hired social app founder Nikita Bier as an Ecosystem Advisor

On March 26th, Solana made an announcement. Nikita Bier, the founder of the social app tbh, has officially joined its team and serves as an ecosystem advisor to assist in curating and driving the development of mobile apps. Bier is currently a Product Growth Partner at the venture capital firm Lightspeed Ventures, which has invested in blockchain projects like Solana. Bier is a serial entrepreneur in the social realm. His anonymous social app tbh, founded in 2017, was acquired by Meta. A similar app named Gas, launched in 2023, was acquired by Discord. In a statement, he said, "Solana has the infrastructure necessary for a breakout in the mobile ecosystem, with several apps making progress." Solana's co-founder Raj Gokal responded that the past year has been a critical stage for the development of the crypto consumer and mobile ecosystem, and this collaboration will accelerate technological integration.

Circle to Mint 250 Million USDC on the Solana Network

On March 25th, according to on-chain data, Circle has just minted an additional 250 million USDC on the Solana network.

BlackRock's BUIDL Fund to Expand to Solana Network

On March 25th. As per the report in Fortune, Securitize, which is BlackRock's technology partner, announced that BlackRock will extend its blockchain-based money market fund, BUIDL, to Solana. Currently, the BUIDL fund is accessible on seven blockchains, among which Solana is included. A spokesperson from Securitize stated that since Tuesday, BUIDL has amassed $1.7 billion in cash and treasury bonds and is scheduled to exceed $2 billion in early April.

HiBT Innovation Zone Launches TDCCP: Solana Ecosystem's First NFT Meme Token

On March 25th, as per an official announcement, the HiBT exchange is set to launch TDCCP and list the TDCCP/USDT trading pair in the Innovation Zone (HOT COIN). Trading Time: 15:00 (UTC+8) on March 25, 2025. TDCCP is the first Meme token in the Solana ecosystem based on the concept of "Digital Collectible Card." By integrating blockchain technology with pop culture and community consensus, it gives birth to a unique digital art asset. As a globally renowned digital asset exchange, HiBT is dedicated to assisting users in discovering early-stage potential projects, offering a secure and efficient trading environment, and facilitating the growth of crypto asset value.

Solana On-Chain AI Concept Coin Rebounds, BUZZ Surges Over 36% in 24 Hours

On March 24th, according to GMGN market data, Solana-based AI concept coins experienced a rebound. These include: - Fartcoin currently has a market capitalization of $5.75 billion, with a 24-hour increase of 26.92%. - ALCH currently has a market capitalization of $58.20 million, with a 24-hour increase of 12.57%. - GRIFFAIN currently has a market capitalization of $50.10 million, with a 24-hour increase of 16.51%. - BUZZ currently has a market capitalization of $13.60 million, with a 24-hour increase of 36.12%.

Circle minted 250 million USDC on the Solana network 6 hours ago

On March 24th, as monitored by Whale Alert, Circle minted 2.5 billion USDC on the Solana network 6 hours ago. As of now, by 2025, Circle has minted a cumulative total of 10.75 billion USDC on Solana.

On the first day of launch, PumpSwap's total trading volume ranked seventh on Solana DEX.

On March 22nd, as monitored by @ai_9684xtpa, the trading volume of PumpSwap in the first 24 hours was $668,000, ranking 7th among Solana DEX. It only accounted for 0.2% of Raydium, 0.04% of Uniswap, and 0.03% of PancakeSwap. The TVL of PumpSwap reached $21.49 million, accounting for only 1.87% of Raydium, 0.54% of Uniswap, and 1.28% of PancakeSwap.

Justin Sun: TRX Token Now Synced on Solana Network

On March 20th, Justin Sun, the founder of HTX Global Advisor and the TRON Foundation, announced on social media that "The TRX token has now been synchronously issued on the Solana network and can be purchased on the Solana chain."

Circle Mints 2.5 Billion USDC on Solana 7 Hours Ago

On March 20th, according to on-chain data, Circle minted 2.5 billion USDC seven hours ago on Solana.

Solana Mobile's second phone, Solana Seeker, is expected to start shipping in the summer of 2025.

On March 19th, as per an official announcement by Solana, the second mobile phone developed on Solana Mobile, Solana Seeker, is currently in the testing phase and is anticipated to commence shipping in the summer of 2025. Solana Seeker is the next-generation Web3 smartphone following its first phone, Solana Saga, which is priced at $500. In contrast to its predecessor Saga, Seeker has witnessed significant hardware enhancements, such as a thinner and lighter design, a more brilliant display, improved camera performance, and longer battery life. Seeker is equipped with a built-in Seed Vault, a self-custodial crypto wallet that is deeply integrated into the hardware. It also comes with an upgraded Solana decentralized app store. Each Seeker phone is accompanied by a unique 'soul-bound' NFT known as the Seeker Genesis Token.

CME Solana Futures Trade Cool on Debut Day, ETF Approval May Struggle to Replicate Bitcoin Success

On March 18th, according to TheBlock, the Chicago Mercantile Exchange (CME) Solana Futures quietly commenced on March 17th. On the first day, the trading volume was only $12.3 million and the open interest was $7.8 million, which is far lower than the previous remarkable performances of Bitcoin and Ethereum futures. K33 Research analysts Vetle Lunde and David Zimmerman pointed out in their latest report that this data reflects the lukewarm attitude of institutional investors towards altcoins. Even if a Solana ETF is approved in the future, its price-boosting effect on SOL may be weaker than market expectations. Bitcoin futures were launched at the peak of the bull market in December 2017, with a first-day trading volume of $102.7 million and an open interest of $209 million. Ethereum futures were introduced in February 2021 at the beginning of the altcoin craze, with a first-day trading volume of $31 million and an open interest of $20 million. Solana futures launched yesterday in a m

Justin Sun: TRX to Land on Solana

On March 18th, Justin Sun announced on the X platform that TRX is scheduled to land on Solana.

Solana Futures Officially Launch on CME Today

On March 17th, Solana futures officially launched on CME today. At present, CME provides two new contract sizes: a micro contract covering 25 SOL and a full-size contract covering 500 SOL. Giovanni Vicioso, the Global Head of Cryptocurrency Products at CME Group, stated that as Solana continues to emerge as the platform of choice for developers and investors, these new futures contracts will provide a capital-efficient tool to support their investment and hedging strategies.

Circle Issues 250 Million USDC on the Solana Network

On March 17th, as monitored by OnchainLens, 20 minutes ago, Circle minted 2.5 billion USDC on the Solana network. As of 2025, Circle has minted a cumulative total of 10.25 billion USDC on the Solana network.

Data: Base, Solana, and Noble ranked in the top three for cross-chain bridge net inflows in the past week

On March 17th, according to DefiLlama data, in the past week, the amount of funds flowing into the Base cross-chain bridge reached $34.79 million, ranking first among all public chains. Solana and Noble came next, with net inflows of $17.09 million and $14.67 million respectively. Arbitrum, Ethereum, and Avalanche had net outflows of $61.31 million, $43.61 million, and $43.68 million respectively.

Circle has minted an additional 10 billion USDC on the Solana blockchain in 2025.

On March 16th, as per the monitoring of OnchainLens, two days ago when Circle minted an additional 2.5 billion USDC on the Solana network. As of now, the USDC minting by Circle on the 2025 Solana network has reached 10 billion USDC.

Bubblemaps: Allocation of Total Supply of BMT Token between Solana and BNB Chain

On March 14th, Bubblemaps announced that since the BNB Chain has become the primary chain for BMT in terms of trading volume, liquidity, and holders, it has made a decision to evenly distribute the total supply between Solana and the BNB Chain in order to promote stronger development in both communities. Before this decision, the deployment address of BMT held 7.57 billion BMT on Solana (accounting for 75.7% of the total supply). Among them: 3.488 billion had been deposited into a locking contract operator on Solana to ensure future distribution according to the locking plan; the remaining amount (4.081 billion) had been bridged to the BNB Chain via the LayerZero OFT (cross-chain communication protocol) and locked. The supply on the BNB Chain has been allocated based on tokenomics and is fully locked on Unicrypt, including 60 million for protocol development/research, 90 million for the team, 206.7 million for the ecosystem, and 51.45 million for liquidity. The summarized tokenomics

Solana SIMD-0228 Proposal has concluded voting, receiving 43.6% approval votes and did not pass.

On March 14th, the data indicates that upon the conclusion of Epoch 755, the voting on the Solana community's proposal SIMD-0228, which aimed to reduce SOL staking inflation, has come to an end. The proposal received 43.6% in favor, 27.4% against, and 3.3% abstaining votes, failing to pass (with a total turnout of 74%). It is reported that the SIMD-0228 proposal put forward a significant adjustment to Solana's token issuance model. Specifically, the proposal intends to shift the inflation model of the SOL token from the current fixed rate to a dynamic market-based mechanism linked to the staking participation rate. By adjusting the inflation rate dynamically based on SOL's staking ratio, the proposal seeks to optimize Solana's monetary policy in order to enhance the network's flexibility and efficiency.

Opinion: Solana CME Futures Set to Launch, Paving the Way for SOL ETF Approval

On March 14th, as per Cointelegraph, Chris Chung, the founder of Titan, declared that the Chicago Mercantile Exchange (CME) is set to launch Solana futures on March 17th. This showcases the growing maturity of the Solana asset market, facilitating the approval of similar financial products by regulatory agencies. He anticipates that the SEC may give the green light to the VanEck and Canary Capital SOL spot ETF applications as early as May.

Jupiter Announces Launch of Token Endorsement Feature for the Solana Ecosystem

On March 13th, as per official information, Jupiter announced the launch of a novel Community Validation System. This system enables users to demonstrate one-click support for Solana ecosystem tokens by simply clicking the "Like" button. When it was first made available, only accounts that have undergone X verification or smart accounts will be eligible to click "Like". Moreover, a user's X account will not be linked to their corresponding wallet.

Circle Issues 250 Million USDC on the Solana Network

On March 13th, according to on-chain data, 1 minute ago, Circle minted 2.5 billion USDC on the Solana network.

Solana Foundation Chairperson Lily Liu appears on Tako to discuss the SIMD-228 proposal with the community

March 12th. Lately, the Solana community has been engaged in voting on proposal SIMD-228. The purpose of this proposal is to decrease SOL staking inflation. It aims to introduce a dynamic inflation model in place of Solana's current fixed inflation schedule in order to better balance network security and economic efficiency. Since this proposal pertains to staking issuance, it will exert a profound influence on Solana's future development. Currently, the community is deliberating over whether to approve this proposal. In this edition of the "Tako Chinese Top Stream Circle: AMA Series with Top Founders," we have invited Lily Liu, the Chair of the Solana Foundation, to discuss the SIMD-228 proposal and offer insights into Solana's future prospects. Date: March 12th 20:00 - March 13th 20:00 Circle: Chinese Top Stream

Franklin Submits Solana Spot ETF Filing to CBOE

On March 12th, according to official information, Franklin Templeton has submitted a Solana Spot ETF to the Chicago Board Options Exchange (CBOE).

Solana Staking Infrastructure Rakurai Completes $3 Million Seed Funding Round, Led by ANAGRAM

On March 12th, in Rakurai, the staking infrastructure within the Solana ecosystem announced the accomplishment of a $3 million seed round of financing. This round was led by ANAGRAM, and it saw the participation of Colosseum, Slow Ventures, Robot Ventures, Crypto.com Capital, P2P.org, GlobalStake, and cyberFund. The newly obtained funds will be employed to facilitate the deployment of high-performance nodes and make use of proprietary scheduling and pipeline optimizations in order to enhance TPS.

Solana "Inflation Rate Adjustment Proposal" currently has a support rate of 25.5% and an opposition rate of 10.4%.

On March 12th, according to on-chain data, the "Inflation Rate Adjustment Proposal" (SIMD-0228) of Solana currently has a support rate of 25.5%, an opposition rate of 10.4%, and an abstention rate of 0.9%. If the proposal is passed, it will be gradually implemented over 50 epochs to adjust the SOL inflation rate. The adjusted inflation rate will be inversely proportional to the percentage of staked token supply, which may reduce dilution and ease the selling pressure from stakers. According to a Coin Metrics report, as of February, Solana's inflation rate is 4%, which is lower than the initial 8% but still significantly higher than the terminal target of 1.5%. Currently, the inflation rate is declining at an annual rate of 15%.

The SEC Delays Approval of the CANARY Spot Solana ETF

On March 12th, the U.S. Securities and Exchange Commission (SEC) postponed the approval of the CANARY spot Solana ETF.

Circle Issues 250 Million USDC on the Solana Network

March 12. According to on-chain data, 15 minutes ago, Circle minted 2.5 billion USDC on the Solana network.

There is a price difference for BMT across different blockchains, with the current price on the Solana blockchain being $0.24.

On March 11th, based on market data, BMT is trading at different prices on various chains. Specifically: On the Solana chain, BMT is currently priced at $0.24. On the BSC chain, BMT is currently priced at $0.146.

Solana Weekly Earnings Plunge 93% from January Peak as Meme Coin Bubble Bursts

On March 11th, as per Cointelegraph, Solana's weekly revenue dipped to $4 million last week. This represents a 93% decrease from the $55 million peak witnessed during the January Meme coin craze. Over the past two months, with the market's interest in Meme coins continuously declining, Solana's network revenue and total value locked (TVL) have witnessed a sharp plunge. According to DefiLlama data, Solana blockchain's weekly network revenue reached a record high of $55.3 million during the mid-January peak of Meme coin minting frenzy. However, since then, the revenue has plummeted by 93% and only reached $4 million in the past week, returning to a low not seen since last September. Solana's weekly decentralized application (DApp) revenue has also witnessed a significant decrease. It dropped from $238 million in mid-January to $32 million in the past week, approximately a 86% decline. Meanwhile, Solana's DeFi total value locked (TVL) has also fallen by nearly 50% during the same period

Sol Strategies has announced the acquisition of 3 Solana validator nodes

March 11th. According to official information, the Toronto-based cryptocurrency holding company Sol Strategies declared the acquisition of three more Solana validator nodes, among which were Laine and stakewiz.com. The sum of money paid for this acquisition was 35 million Canadian dollars, which was paid by a combination of cash, Sol Strategies common stock, and warrants. After the acquisition, the amount of SOL staked by Sol Strategies rose to 3.3 million. Moreover, Sol Strategies appointed Michael Hubbard, the founder of Laine, as the Chief Strategy Officer.

Solana SIMD-0228 Proposal currently has a support rate of 12.4% and an opposition rate of 3.4%.

On March 10th, based on on-chain data, Solana's SIMD-0228 proposal currently has a support rate of 12.4%, an opposition rate of 3.4%, and an abstention rate of 0.7%. If the proposal is approved, it will be gradually implemented over 50 epochs. The aim is to significantly reduce inflation. For example, it may reduce inflation by 70%–80%, reducing it from 4.5% to a minimum of about 0.87%. The proposal suggests a major adjustment to Solana's token issuance model. Specifically, it aims to transition the inflation model of the SOL token from the current fixed rate to a dynamic market mechanism linked to the staking participation rate. The goal is to optimize Solana's monetary policy by dynamically adjusting the inflation rate based on SOL's staking ratio, thereby enhancing the flexibility and efficiency of the network economy.

Solana SIMD-0228 Proposal Voting has Started, Aiming to Reduce SOL Inflation Rate by 80%

On March 8th, according to SolanaFloor, the SIMD-0228 proposal of Solana has begun voting. This proposal could lead to an 80% reduction in the inflation rate of SOL.

Solana Co-Founder: Bitcoin Executive Order Removed Regulatory Uncertainty, Stablecoin Bill Needs Further Clarification

On March 7th, Anatoly Yakovenko, a co-founder of Solana, stated in a post that the Bitcoin executive order is like a "scalpel". It is not a government bailout for cryptocurrencies but rather a means to further remove the regulatory uncertainty that has been plaguing the industry for the past four years. He emphasized that the industry still requires a stablecoin bill, guidelines enabling banks to custody cryptocurrencies, and clear rules from the US Securities and Exchange Commission and the Commodity Futures Trading Commission regarding token issuance and DeFi. These measures will contribute to further standardizing and developing the cryptocurrency industry.

Solana Co-Founder: Decentralized Tokens Should Not Become National Reserves, Selection Criteria Should Be Fair and Objective

On March 6th, the co-founder of Solana, Toly, posted on social media, expressing in his personal view that there should not be a national crypto reserve. "If you want to cause the failure of decentralization, let the government control it." Viewed from another perspective, it is to allow each state to operate its own crypto reserve as a hedge against potential errors of the Fed. If there must be a reserve, then it should be based on objective and measurable requirements. It doesn't matter what these requirements are, and it could even be designed in such a way that only Bitcoin currently meets them. However, these requirements must be objective, measurable, and reasonably justifiable. If there is a goal to surpass, the Solana ecosystem will handle it.

Circle Issues 250 Million USDC on the Solana Network

On March 6th, as per the monitoring of OnchainLens, Circle has minted $250 million of USDC on the Solana network. Up to now, they have minted a cumulative total of $9.25 billion of USDC on Solana by 2025.

Solana's early backer Foundation Capital's flagship fund closes $600 million fundraise

On March 5th, according to the report in TechCrunch, Foundation Capital, an early investor of Solana, announced the successful raising of an eleventh flagship fund worth $6 billion. Foundation Capital partner Steve Vassallo stated that their investments are mainly focused on the fields of enterprise, artificial intelligence, fintech, and cryptocurrency.

In early March, the number of transactions on the Solana network decreased by over 40% compared to the end of January

On March 4th, based on BlockBeats' data, on March 1st, the Solana network witnessed a total of 45.4 million transactions. This represents a 40.88% decrease compared to the peak on January 22nd, which was 76.8 million transactions.

Circle Issues 250 Million USDC on the Solana Network

On March 2nd, as monitored by whale-alert, Circle minted 250 million USDC on the Solana network 6 hours ago.

Binance has completed the integration of LPT on the Arbitrum One network and BIO on the Solana network, and has opened deposit and withdrawal services.

On February 28th, according to an official announcement, Binance has now accomplished the integration of Livepeer (LPT) on the Arbitrum One network and BIO Protocol (BIO) on the Solana network. Additionally, deposit and withdrawal services have been opened.

MetaMask has released a new roadmap, which includes the introduction of Smart Contract Accounts, support for Bitcoin, and the Solana network, among other features.

On February 28th, MetaMask released a new roadmap with the goal of enhancing the wallet's user experience. The new features include: · ERC-5792 Batch Transactions, enabling users to complete multiple steps like "approve + swap" with just one click, saving time and fees; · The introduction of Smart Contract Accounts, which improves security and recoverability; · The launch of Debit Cards in some U.S. states, allowing users to directly spend cryptocurrency assets; · Plans to support mainstream blockchains such as Bitcoin and Solana, enabling users to manage multiple digital assets on one platform.

The DTCC website lists the first batch of Solana Futures ETFs, with the ticker symbols SOLZ and SOLT.

On February 27th, based on the DTCC website, the DTCC website presents the first batch of Solana Futures ETFs: · Volatility Shares Solana ETF, with the code SOLZ. · Volatility Shares 2X Solana ETF, with the code SOLT. There is an indication of "D" in the Create/Redeem column. Although this does not signify that the ETF has obtained any regulatory approval or any explicit approval process outcome, being listed on the DTCC website is a part of the "standard process" for launching a new ETF.