Kalshi launches tokenized event contracts on Solana to tap crypto liquidity

Bitcoin exchange-traded funds (ETFs) have commenced December with modest gains, while Ether and Solana have experienced declines in value. This shift comes after a period of significant market fluctuations, with Bitcoin stabilizing around $86,000 despite a broader market downturn that saw a $600 billion decline in November.

Kalshi has launched tokenized event contracts on the Solana blockchain, marking its strategic entry into the crypto market to attract traders who have previously engaged with platforms like Polymarket. This move allows users to buy and sell tokenized representations of event contracts, enhancing trading flexibility and accessibility.

Kalshi has successfully raised $1 billion in its latest funding round, resulting in a valuation of $11 billion. This significant financial boost positions Kalshi as a leading player in the prediction market sector, regulated by the Commodities Futures Trading Commission.

BlackRock's U.S. Bitcoin ETF has reached $70 billion in assets under management (AUM), generating approximately $245 million in annual fees, making it the firm's most profitable product line. This growth has contributed to BlackRock's total bitcoin allocations nearing $100 billion across various products.

Strategy has reduced its 2025 Bitcoin yield targets and built a $1.44 billion cash reserve, highlighting the volatility associated with corporate Bitcoin exposure. This pivot reflects a strategic shift towards direct investments in the Bitcoin ecosystem, particularly in Layer-2 infrastructure like Bitcoin Hyper, which offers enhanced transaction capabilities.

Solana has emerged as the leading blockchain for x402 payments, achieving a record daily transaction volume of $380,000, marking a 750% increase over the past week. This surge highlights Solana's growing adoption and efficiency in processing payments within the x402 ecosystem.

Solana's price is currently testing key support levels, showing bullish RSI divergence and steady ETF inflows, indicating potential buyer interest. Analysts note that while the price has stabilized around $143 after a multi-week decline, a breakout above resistance is necessary for a sustained reversal.

The Federal Reserve has injected $13.5 billion into the U.S. banking system through overnight repurchase agreements, raising fresh concerns about liquidity and funding stress in the financial markets. This move comes amid ongoing volatility in the cryptocurrency sector, particularly affecting Bitcoin's price dynamics.