Chainlink

Solana

Uniswap

World Liberty Financial

pippin

OFFICIAL TRUMP

Solana (<a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">SOL</a>) slid back down to its lowest levels since 2023 this week as market sentiment soured, but on-chain activity held up, led by tokenized real-world assets.The pullback tracked a broader risk-off tilt tied to renewed tariff uncertainty in the U.S. and mounting anxiety over how quickly artificial intelligence could disrupt legacy business models.As of Feb. 24, SOL traded near $77, down nearly 9% on the week and about 70% below its 2025 peak, according to CoinMarketCap data.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/5e664dff01d449dba5bf76b73c4de75e.png">SOL fell nearly 9% WoW. Source: <a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CoinMarketCap</a>Core cryptocurrencies faced similar pressure, with Bitcoin (<a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) and Ether (<a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) shedding around 7.6% and 8.8%, respectively.Solana-linked ecosystem tokens held up better, logging a roughly 5.6% WoW drop, the <a href="https://coinmarketcap.com/view/solana-ecosystem/" rel="noopener noreferrer nofollow">data</a> shows.On Friday, President Donald Trump vowed to restore U.S. import tariffs after the Supreme Court ruled his prior tariffs unlawful, setting up another burst of trade-policy noise for markets.On Feb. 22, a viral Citrini Research <a href="https://www.citriniresearch.com/p/2028gic" rel="noopener noreferrer nofollow">report</a> forecasting an AI-driven recession sparked a bout of panic selling, contributing to double-digit declines in legacy technology stocks such as IBM.<h2 id="derivatives-traders-brace-for-bear">Derivatives Traders Brace for Bear</h2><img src="https://academy-public.coinmarketcap.com/optimized-uploads/87f7449aa34349659ed2ae7fc90d544f.png">Funding rates for SOL perpetual futures are negative. Source: <a href="https://app.laevitas.ch/assets/perpswaps/SOL/funding" rel="noopener noreferrer nofollow">Laevitas</a>The sell-off has triggered a sharp repositioning in derivatives markets, with SOL futures open interest falling to less than a quarter of its September 2025 highs, according to <a href="https://coinalyze.net/solana/open-interest/" rel="noopener noreferrer nofollow">data</a> from Coinalyze.Traders paid to hold bearish bets. Funding rates for SOL short positions rose above 7% on an annualized basis, with rates briefly spiking to nearly 50% on Feb. 23, per Laevitas <a href="https://app.laevitas.ch/assets/perpswaps/SOL/funding" rel="noopener noreferrer nofollow">data</a>.Even so, SOL exchange-traded product flows remained positive, signaling selective institutional demand even as investors pulled money from other crypto products.On Feb. 19, U.S. spot Solana exchange-traded products took in about $2.4 million in net inflows even as crypto ETPs overall logged a fifth straight week of outflows, CoinShares data shows.“Digital asset investment products remain in the doldrums, with modest outflows totalling US$288m,” CoinShares <a href="https://coinshares.com/us/insights/research-data/fund-flows-23-02-26/" rel="noopener noreferrer nofollow">said</a>.<h2 id="rwas-buoy-on-chain-metrics">RWAs Buoy On-Chain Metrics</h2><img src="https://academy-public.coinmarketcap.com/optimized-uploads/25990ab7c9274ebfbddeaca9c250ca24.png">Kamino said it surpassed $1B in total market size on Feb. 23. Source: <a href="https://x.com/kamino/status/2026004026241020186" rel="noopener noreferrer nofollow">X/Kamino</a>Institutional RWA activity accelerated, with Solana-based credit protocols posting fresh milestones.On Feb. 23, Kamino, an RWA lending protocol on Solana, <a href="https://x.com/kamino/status/2026004026241020186" rel="noopener noreferrer nofollow">said</a> it surpassed $1 billion in market size.OnRe, another on-chain credit protocol, crossed $100 million in assets under management, Solana said in a Feb. 22 X <a href="https://x.com/solana/status/2025597327260655995?s=20" rel="noopener noreferrer nofollow">post</a>.Tokenized equities also gained steam.Seven Solana-based tokenized stocks reached $15 million in AUM on Feb. 19, <a href="https://x.com/capitalmarkets/status/2024477906760876078" rel="noopener noreferrer nofollow">according</a> to the Solana-linked news account Capital Markets, which identified Tesla, Circle, NVIDIA, Alphabet, and Strategy as among the largest listed xStocks.Solana also notched a sovereign-state adoption milestone.On Feb. 24, Bhutan launched a digital nomad visa that costs $2,800 for 12 months and requires a $10,000 deposit into TER, a gold-backed token issued on Solana, according to <a href="https://x.com/timourxyz/status/2026052551234461876?s=20" rel="noopener noreferrer nofollow">posts</a> by Timour Koster, a Solana-based founder.“A sovereign nation is issuing visas backed by tokenized gold on Solana,” Solana said in a Feb. 24 <a href="https://x.com/solana/status/2026165309787472013?s=20" rel="noopener noreferrer nofollow">post</a> on X.On Feb. 23, Solana Company tipped <a href="https://www.globenewswire.com/news-release/2026/02/23/3242693/0/en/Solana-Company-NASDAQ-HSDT-Announces-Plan-for-the-Pacific-Backbone-a-High-Speed-Infrastructure-Buildout-for-Solana.html" rel="noopener noreferrer nofollow">plans</a> to build a low-latency infrastructure network across Asia to support staking, validation, and trading services for institutional clients, with product launches expected within 12–18 months.<h2 id="by-the-numbers">By the Numbers</h2>Total Solana Ecosystem Market Cap: $119.10B<img src="https://academy-public.coinmarketcap.com/optimized-uploads/14f8c6ee183a45cd95bc440662086e7d.png">Source: <a href="https://coinmarketcap.com/view/solana-ecosystem/" rel="noopener noreferrer nofollow">CoinMarketCap</a>Top 5 Solana Coins by Market Cap:<ul><li>Solana (<a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">SOL</a>): $43.77B</li><li>ChainLink (<a href="https://coinmarketcap.com/currencies/chainlink/" rel="noopener noreferrer nofollow">LINK</a>): $5.80B</li><li>World Liberty Financial (<a href="https://coinmarketcap.com/currencies/world-liberty-financial-wlfi/" rel="noopener noreferrer nofollow">WLFI</a>): $2.99B</li><li>Uniswap (<a href="https://coinmarketcap.com/currencies/uniswap/" rel="noopener noreferrer nofollow">UNI</a>): $2.13B</li><li>Aave (<a href="https://coinmarketcap.com/currencies/aave/" rel="noopener noreferrer nofollow">AAVE</a>): $1.75B</li></ul><img src="https://academy-public.coinmarketcap.com/optimized-uploads/444c60dd48424a5b945a5757c6d12c8e.png">Source: <a href="https://coinmarketcap.com/view/solana-ecosystem/" rel="noopener noreferrer nofollow">CoinMarketCap</a>Most Visited Solana Coins:<ul><li>Solana (<a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">SOL</a>)</li><li>Pippin (<a href="https://coinmarketcap.com/currencies/pippin/" rel="noopener noreferrer nofollow">PIPPIN</a>)</li><li>ChainLink (<a href="https://coinmarketcap.com/currencies/chainlink/" rel="noopener noreferrer nofollow">LINK</a>)</li><li>Official Trump (<a href="https://coinmarketcap.com/currencies/official-trump/" rel="noopener noreferrer nofollow">TRUMP</a>)</li><li>World Liberty Financial (<a href="https://coinmarketcap.com/currencies/world-liberty-financial-wlfi/" rel="noopener noreferrer nofollow">WLFI</a>)</li></ul><img src="https://academy-public.coinmarketcap.com/optimized-uploads/9a0366a399504d1c9bab0ee377f05991.png">Source: <a href="https://coinmarketcap.com/view/solana-ecosystem/" rel="noopener noreferrer nofollow">CoinMarketCap</a>

Solana News: SOL Sell-Off Deepens as Sentiment Sours, but RWA Activity Stays Strong

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