SOL closed the week with a 1% loss, but it could have been worse after it sank below $125 before bouncing back to $136.
Institutions load SOL spot ETFs even as the market tries to mount a comeback.
Market Overview
The market seems to be bouncing after rough seas, boosted by the increasing odds of a Fed rate cut at the December FOMC meeting. Bitcoin is back at $87,200, trimming its losses to 5% after holding the $80K level this week.
https://twitter.com/naiivememe/status/1992626611469046236
Will the momentum continue into Christmas? Arthur Hayes thinks BTC has already bottomed.
https://twitter.com/CoinMarketCap/status/1993264675308310891
Altcoins are rebounding, too, but it will take a big pump to reverse the brutal carnage that began last month. Will this year’s final Fed meeting be the key catalyst for the rally?
https://twitter.com/crypto_goos/status/1993253828460990648
Solana’s top ecosystem tokens are feeling the heat, with the heavy hitters still nursing losses. The sector’s market cap is down 3% to $183.8 billion, while trading volume took a 36% plunge to $15.8 billion.
Source: CoinMarketCap
There were big performers, with Tensor (TNSR) responding to “big news” with a 287% pump. Let’s unpack what shaped this week’s conversations within the Solana universe.
- Coinbase is set to acquire Vector.fun, the Solana-based SocialFi trading platform built by Tensor Labs, as part of its push to deepen its presence in the Solana ecosystem. The details of the deal, set to close this year, remain undisclosed.
https://twitter.com/VECTORDOTFUN/status/1991856939828183272
- The Solana ETF sprint is accelerating as 21Shares rolled out its TSOL fund on the CBOE. It joins fresh launches from Fidelity, Bitwise, Canary Capital and Grayscale, with issuers piling in as demand for SOL exposure climbs.
https://twitter.com/Cboe/status/1991197470110392443
- Wormhole Labs has launched Sunrise, a new liquidity gateway designed to facilitate the integration of MON and other external assets into Solana. The platform provides users with a single route to bridge tokens onto Solana and access DeFi liquidity from the outset.
https://twitter.com/CoinMarketCap/status/1993006737566105901
Solana's Performance
SOL closed the week with a 1% loss, but it could have been worse after it sank below $125 before bouncing back to $136.
https://twitter.com/SolanaFloor/status/1993030401456324853
Source: CoinMarketCap
Additionally, Solana’s U.S. spot ETFs have kept their winning streak intact after logging 20 consecutive days of net inflows since their debut.
https://twitter.com/esatoshiclub/status/1993243510863282404
L1 Ranking Update
Solana’s total value locked (TVL) in DeFi fell below $9 billion as leading blockchains took a hit.
Source: DeFiLlama
DeFi
Source: DeFiLlama
Solana’s DEX volume took an 8% haircut this week as degens exercised caution, but it still one-ups the competition.
https://twitter.com/SolanaFloor/status/1992898323620200657
Biggest Winners & Losers
Top Performers
- Tensor (TNSR): +286.97%
- Graphite Protocol (GP): +93.09%
- READY! (READY): +87.66%
- Wojack (WOJAK): +76.13%
- AI Rig Complex (ARC): +49.37%
Biggest Losers
- Saros (SAROS): -52.44%
- Meteora (MET): -26.35%
- Mog Coin (MOG): -23.41%
- Nobody Sausage (NOBODY): -22.98%
- ZERA (ZERA): -21.72%
Source: CoinMarketCap
Latest Solana News
Regulatory Green Light
The SEC has issued a rare no-action letter to the Solana DePIN project Fuse. The move gives the project regulatory breathing room after it sought confirmation this month.
https://twitter.com/fuseenergy/status/1993071393941156082
Faster Disinflation Ahead
SIMD 0441 is gaining strong backing as it pushes to accelerate Solana’s disinflation rate 2x. If approved, the proposal would cut inflation by more than 22 million SOL over six years.
https://twitter.com/0xMert_/status/1991994760270364695
Jupiter’s DTF
HumidiFi’s WET will debut on Dec. 3 as the first token launched through Jupiter Exchange’s new Decentralized Token Formation (DTF) platform. More details are set to roll out soon.
https://twitter.com/humidifi/status/1993023476794319098
What You Can Do Now
- Follow HumidiFi for updates on the WET token launch on Jupiter’s DTF platform.
- Monitor SOL ETF activity to identify emerging market opportunities.
- Track your positions closely as price action remains volatile.
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