Scaramucci crowns Solana ‘one of the big winners’ of tokenization

Fin, a company founded by former Citadel engineers, has successfully raised $17 million in a Series A funding round to launch its stablecoin payments product on the Solana blockchain, aiming to facilitate fast and cost-effective transactions.

Bitcoin exchange-traded funds (ETFs) have regained momentum as Solana ETFs demonstrate stronger performance compared to Ether, reflecting a shift in investor interest within the cryptocurrency market. This resurgence comes after a period of volatility, with Bitcoin stabilizing around $86,000 and showing modest gains as December begins.

Revolut has integrated Solana into its platform, allowing users to conduct payments, transfers, and staking with cryptocurrencies such as USDT, USDC, and SOL directly within the app. This move enhances the functionality of Revolut's services in the growing cryptocurrency market.

Franklin Templeton has launched its Solana ETF on NYSE Arca, marking a significant step in institutional adoption of blockchain technology and potentially enhancing Solana's market presence.

Solana's price has continued to decline, impacting the SOL-backed Treasury reserves significantly, with corporate treasury companies reporting a sharp decrease in their SOL holdings amid broader market instability. This bearish trend indicates a lack of confidence among investors in the cryptocurrency market.

Vanguard's recent decision to embrace spot Bitcoin ETFs marks a significant shift in its investment strategy, allowing broader access to Bitcoin for retirement and retail investors. This pivot comes as Bitcoin's price has shown resilience, recently rebounding to the $92K mark, indicating renewed interest in the cryptocurrency market.

CME Group has launched new cryptocurrency benchmarks for Bitcoin, Ether, Solana, and XRP, including a VIX-style Bitcoin volatility index aimed at providing standardized pricing and risk measures for institutional investors. This initiative is part of CME's ongoing efforts to enhance the trading environment for digital assets.

Solana has successfully rebounded above the $135 mark and its 100-hour simple moving average (SMA) after breaking a bearish trend line, indicating a strong reversal attempt. However, the cryptocurrency still faces nearby resistance levels that need to be cleared to prevent a potential pullback. This recovery follows a period of declining prices and market instability.