Solana (SOL) Price Pumps 12% This Week — Here’s What’s Driving the Rally
Solana (SOL) has seen a strong rally this week, driven by a series of major developments.
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Key factors behind the surge include:
- A new filing for the Fidelity Solana Fund
- Polymarket adding Solana deposit support
- Expansion of BlackRock’s BUIDL product
- Nikita Bier joining the platform as an advisor
Together, these updates signal rising interest in Solana from across the digital asset ecosystem. Over the past seven days, SOL (traded on WhiteBIT) has gained roughly 12%, now holding above the $141 mark.
Fidelity Solana Fund on Cboe BZX
Fidelity, one of the world’s leading asset managers, recently filed for the Fidelity Solana Fund through the Cboe BZX exchange.
This move comes amid intensifying competition among firms looking to introduce spot ETFs tied to SOL. Moreover, Fidelity has highlighted the fund as part of its broader effort to expand its presence in the digital asset ecosystem.
You might also like: Fidelity to Launch US Dollar-Pegged Stablecoin for Institutional Clients
Polymarket Adds Support for SOL Deposits
In addition, the decentralized prediction platform Polymarket announced that it now supports deposits in SOL.
Previously, users were mainly limited to USDC. The introduction of SOL is expected to drive more activity on the platform and attract a broader user base. The move offers greater flexibility for those who want to use cryptocurrencies directly for placing bets.
BlackRock Expands BUIDL with Solana Integration
BlackRock’s USD Institutional Digital Liquidity Fund, known as BUIDL, has expanded its functionality by integrating with the Solana network. The fund’s total assets have surpassed $1.7 billion, fueled by $700 million in inflows over just 11 days. This expansion enables investors to access tokenized real-world assets seamlessly through blockchain infrastructure.
Related: BlackRock Launches Its First Bitcoin ETP in Europe
Solana is uniquely positioned to drive the next wave of adoption for tokenized real-world assets due to the network’s speed, low costs, and active developer ecosystem,
said Lily Liu, President of the Solana Foundation.
Nikita Bier Joins Solana as an Advisor
As Solana continues to expand its presence in the mobile crypto space, tech entrepreneur Nikita Bier has joined the project as an advisor.
Bier is best known for creating viral social apps like tbh and Gas, both of which gained massive popularity among audiences. He announced his new role on X, expressing enthusiasm about the potential for launching next-generation mobile applications on Solana.
Ultimately, the news reflects Solana’s growing momentum in the digital asset market, driven by support from traditional financial institutions and innovative platforms. This could further accelerate development across the Solana ecosystem and spark renewed interest from investors.
Related: Solana Futures ETFs Are Here—Volatility Shares Leads the Market
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