🛰️FN Express丨SOL Returns to the $200 Mark: A Player Quietly Making a Fortune
After 5 months, $SOL has once again reached the $200 mark.
From 2024 to early 2025, SOL's price fluctuations were undoubtedly closely related to the popularity of Meme coins. During the peak FOMO moment of Trump's coin launch, SOL surged to a historical high of $295.00 in a single day. However, after the Libra rug pull by Milei in February 2025, the chaotic battles of various Launch platforms, and the overall weakening of the Meme market, SOL's price also fell into a trough.
But in fact, besides Meme coins, @Solana_zh has been quietly making long-term layouts in other directions, starting multi-line development.
💵Pioneer of Stock Tokenization
"Solana's ambition has always been to become a new financial infrastructure for the world," said Lily Liu.
This April, Lily Liu said in the "CeFi and DeFi Trading: Aggregation and Infrastructure" discussion that the boundaries between CeFi, DeFi, and even FinTech are gradually blurring. For users, what ultimately matters is not the underlying architecture, but whether they can seamlessly access protocols and applications to obtain high-performance, low-friction service experiences.
In early July, stock tokenization completely set off a boom, with digital brokers and mainstream exchanges flocking in. Among them, the two main models are xStocks supported by Backed and Robinhood. The on-chain stock model supported by xStocks has more significant openness and composability, and ordinary users can also trade freely on the chain.
Solana has become the underlying infrastructure of xStocks, and stock tokens are settled according to the SPL standard. Its price is tracked through an off-chain market maker mechanism, and the collateral is regularly audited to reflect the value of the underlying securities.
🪙Beneficiary of Strategic Coin Hoarding
Listed companies implementing cryptocurrency reserve strategies have also become a direct driver of recent increases. The number and scale of SOL treasury companies have also developed from the initial dominance of SOL Strategies to the current blossoming of a hundred flowers.
On the evening of July 21, according to the official announcement, US-listed company DeFi Development Corp announced that it would increase its holdings of 141,300 SOL again, with total holdings reaching 999,999, worth approximately $192.00M.
During the same period, US-listed company Upexi announced the purchase of 100,000 SOL for $17.70M, with total holdings reaching 1.82M SOL, worth $331.00M.
In addition, on July 3, the Rex-Osprey Solana + Staking ETF was officially launched, becoming the first fund in the United States to provide direct cryptocurrency exposure with staking rewards. The fund holds SOL tokens through a Cayman Islands subsidiary and stakes at least half of its holdings. SOL treasury companies such as SOL Strategies, DeFi Development Corp, and Upexi will also use the purchased SOL to operate verification nodes and provide services. Staking ETFs and treasury companies have become key contributors to the SOL ecosystem, achieving a positive cycle.
More Solana Latest Progress to see:
https://t.co/VqXPO8fpkr