Solana experienced a vibrant week underscored by important announcements, expansion of its ecosystem, and a very noticeable uptick in its market performance.
From important events around the integration of real-world assets (RWA) to the unveiling of new DeFi and hardware products, the Solana ecosystem keeps pushing the envelope. And for all this momentum, the Solana Accelerate conference in New York City on May 22–23 was the perfect backdrop—a chance for the network and its partners to show off some serious innovations that emphasize Solana’s growing role in both TradFi and DeFi.
The infrastructure of Solana is spreading. So is institutional interest. Solana is now going after retail, with its ecosystem growing fast. All this paints a promising picture of the Solana blockchain as the next phase of Web3.Growth. But things within that pretty picture—ahem—might not be as rosy as they seem to be. Verdict: Solana paints a promising picture of next-phase growth, but is it real?
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Market Performance and Capital Inflows Highlight Growing Confidence
The native token of Solana, SOL, swelled 5% and hit $176, driven by the week of the Accelerate conference. The larger Solana ecosystem saw its total market capitalization rise by 3%, an almost unbroken string of up days in its price. But the trading volume of SOL fell by 15%, signaling that we are now in a period of less short-term trading and speculation on the price of SOL, but with an almost unchanged level of long-term interest. No one is abandoning ship, and the interest shown in the price of SOL hasn’t markedly changed.
One of the more notable signs of Solana’s burgeoning appeal is the $175 million in assets bridged to the network over the past week. This influx of capital from other blockchains underscores Solana’s emerging position as a multi-chain hub for DeFi, NFTs, and now real-world asset trading.
In the meantime, Bitcoin set a new record high, approaching $112,000, and pushed up right by a huge $427 million buying spree. And even though none of this is directly related to Solana, a rising crypto tide helps all boats, including Layer 1s like Solana, to pull in both institutional and retail cash.
Solana Tackles Traditional Finance and DeFi with Bold Moves
A prominent announcement emerged from Kraken, one of the largest cryptocurrency exchanges across the globe, which disclosed its plans to allow for trading of U.S. stocks on the Solana blockchain. This new offering will be directed toward non-U.S. users and marks a daring attempt to bridge the gap between conventional finance and blockchain tech. As market participants from all over the world seek quicker, cheaper, and more reliable (i.e., permissionless) pathways into the U.S. markets, enabling such a pathway via Solana would seem to place the net gain squarely in Kraken’s corner.
The Accelerate event also saw innovative developments in DeFi, with Jupiter revealing its new lending protocol, created in collaboration with Fluid. This partnership looks to deliver increasingly efficient lending and liquidity solutions to the growing, multifaceted DeFi sector of Solana. Meanwhile, Kalshi, a regulated prediction market platform, has begun allowing its customers to make deposits on Solana through the Zero Hash service, using cash. They can now transact in the way that’s most comfortable and familiar to them.
Total value locked (TVL) on the Solana network increased 2% to reach $10.997 billion. This growth helps Solana keep ahead of BNB Chain in the TVL race. However, DEX volume on Solana fell 14.62% to $21.28 billion, ending a multi-week streak of increasing volume. That said, Solana is still far and away leading all blockchains in weekly DApp revenue.
🚀 Week in Solana: Accelerate in NYC, Seeker Phone in August.
SOL climbs 5% to $176! Kraken brings stock trading to blockchain! Jupiter launches lending with Fluid! $175M bridged to network!
Let's explore Solana's ecosystem expansion week 🧵
1/6 pic.twitter.com/uFyleVtDsN
— CoinMarketCap (@CoinMarketCap) May 28, 2025
Hardware Expansion and Security Efforts Intensify
This week also brought a focus on hardware, with the announcement that the eagerly anticipated Solana Seeker Mobile phone will begin shipping in August. The device has SKR token integration and uses the decentralized TEEPIN architecture, purportedly making it much more private for on-chain use. Bringing Web3 into the hands of the everyday user is something Solana is very much about, and the Seeker phone is a step—in hardware, not just software—toward that goal.
Staying a top priority is security, and in a high-profile incident featuring Solana co-founder Raj Gokal, the hacking of the Migos Instagram account was used to try to extort 40 BTC from Gokal. The incident ultimately remained a failed attempt at high-dollar extortion, but it does shine a light on the ongoing need for top-tier security as Solana and its leadership keep hitting the headlines.
Ledger made a big splash when it came out with a Solana-specific version of its Flex hardware wallet, providing users with a tailored solution for optimal storage and management of Solana-based assets.
Looking Ahead: A Chain That’s Not Slowing Down
Across the financial, mobile hardware, DeFi infrastructure, and security sectors, Solana is making it clear that its ambitions extend far beyond being just another Layer 1. Progress at Solana has been meaningful and multifaceted. This positions the blockchain as a potentially powerful player in the next wave of Web3 adoption.
With the Solana phone launch on the horizon and new financial integrations underway, Solana’s week of announcements reflects not just momentum but maturity. It’s a chain that’s actively building, actively growing, and actively preparing for the future — one real-world asset, mobile device, and protocol at a time.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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