SOL ETF

Solana

Major

<p>Solana’s native token became one of the recent top performers in the crypto market, surging to a new seven-month high at over $105 before it was finally halted and retraced slightly.</p>
<p>This substantial rally from under $75 came amid several major developments within the broader Solana ecosystem. Perhaps the most important came from the network itself.</p>
<h2 id="issuance-changed">Issuance Changed</h2>
<p>The network finally succeeded in reducing future SOL issuance. Although the decision could hardly have been any closer, validators approved SGP-0002, which endorses doubling Solana’s annual disinflation rate from 15% to 30%. The proposal finished with approximately 67%, barely clearing the two-thirds supermajority required for approval.</p>
<p>Helius CEO Mert Mumtaz, one of the most prominent and vocal supporters, <a href="https://x.com/mert/status/2093359812633616577" rel="noopener noreferrer nofollow">summed up the dramatic finish</a> by saying his team made hundreds of calls in the final hours and ultimately passed the measure by a “literal hair.”</p>
<p>It’s worth noting that the proposal does not eliminate inflation. It doubles the speed at which SOL’s existing inflation rate declines each year – from 15% to 30%, while leaving the network’s terminal inflation rate unchanged at 1.5%. Under the current schedule, Solana was expected to reach that floor in the first half of 2032.&nbsp;The new schedule reduces that time by half, bringing it to H1 of 2029.</p>
<p>The trade-off is that normal staking yields are projected to fall faster as fewer new tokens are distributed, which is where most of the arguments against it come from.</p>
<h2 id="sol-etf-breaks-1-billion-milestone">SOL ETF Breaks $1 Billion Milestone</h2>
<p>The Bitwise Solana Staking ETF (BSOL) became the first exchange-traded fund tracking the altcoin to surpass the coveted $1 billion target in assets under management on Friday. It saw the light of day last October, meaning that it took around 10 months to do so.</p>
<p>What’s particularly interesting here is that this achievement occurred despite SOL’s broader price performance. As Bitwise President Teddy Fusaro pointed out, BSOL shares remain about 40% below their listing prices, while SOL itself is still 60% away from its ATH.</p>
<p>BSOL held more than 9.3 million SOL when it crossed the $1 billion mark. It targets staking 100% of its holdings, while the net staking reward rate currently stands at around 5.8%.</p>
<h2 id="whales-go-big">Whales Go Big</h2>
<p>Lookonchain data from earlier today showed that two major Solana whales have continued to withdraw major holdings from exchanges after completing significant accumulations. A wallet ending with 3WzfuP withdrew almost $3.9 million in SOL from Kraken, while another one, ending with 5p6zPz, <a href="https://x.com/lookonchain/status/2093533998819737692" rel="noopener noreferrer nofollow">transferred</a> nearly $30 million worth of the asset from Binance.</p>
<p>SOL’s price has been on the move lately, surging to a six-month peak at over $105 on Friday before the broader market’s correction drove it south. Nevertheless, it remains well above $100 after a 42% monthly surge. Some analysts <a href="https://cryptopotato.com/solana-sol-climbs-to-a-6-month-high-the-start-of-a-mega-rally-or-a-bull-trap/" rel="noopener noreferrer nofollow">believe</a> more gains are around the corner, with predictions ranging from $150 to $300.</p>
<p>The post <a href="https://cryptopotato.com/3-major-solana-sol-developments-you-should-know-about/" rel="noopener noreferrer nofollow">3 Major Solana (SOL) Developments You Should Know About</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

3 Major Solana (SOL) Developments You Should Know About

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