Toronto-listed investment firm SOL Strategies has secured a $500 million convertible note facility to buy Solana, reflecting the growing institutional interest in the cryptocurrency.
Ripple-affiliated XRP is yet to gain traction as a treasury asset, despite its role in the cross-border payments sector.
Ripple CEO Brad Garlinghouse anticipates the launch of a spot XRP exchange-traded fund (ETF) and XRP is expected to be part of the White House’s proposed digital asset stockpile.
Solana is gaining momentum as a low-cost and faster alternative to Ethereum, attracting investors and developers.