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Solana’s Wild Week: Trump Boosts SOL, MetaMask Expands Support, and CME Launches Futures
- Solana ($SOL) had a volatile week, with price surges and falls influenced by high-profile announcements.
- Trump's NFT announcement caused SOL to surge and subsequently experience a price drop due to national security concerns.
- Despite the fluctuations, Solana closed the week with a minimal 1% dip and a $69.44 billion market cap.
- Solana outperformed Ethereum in decentralized app revenue, showcasing its ability to support real applications at scale.
- While facing competition in fees from TRON, Solana excelled in the NFT space with a 27.3% user share.
- The Solana ecosystem saw mixed performances, with tokens like GRASS surging 38% while others like FTT, JTO, and RAY faced losses.
- Despite challenges, Solana's DeFi TVL only decreased by 2%, outperforming Ethereum and Bitcoin in this aspect.
- Institutional engagement with Solana increased, highlighted by CME Group launching Solana futures and MetaMask extending support.
- Solana's inclusion in the U.S. strategic reserve and the issuance of Solana-referenced ETFs signal growing institutional interest.
- The future looks promising for Solana as it continues to attract investors and expand its ecosystem, despite minor setbacks.
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