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Solana's Rapid Growth: 60M Daily Transactions, $1.65B Investment, ETF Decision Imminent

Solana's record-breaking growth continues with massive daily transactions and institutional investments. An upcoming SEC decision on spot ETFs could further boost this leading blockchain's future.

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Solana's Rapid Growth: 60M Daily Transactions, $1.65B Investment, ETF Decision Imminent

Solana, a high-speed blockchain, is experiencing remarkable growth. With daily transaction volumes of 60 million and over 2.2 million active addresses, it's one of the most heavily used networks. Institutional investors, including Galaxy Digital and BlackRock, are pouring funds into Solana, with Forward Industries raising $1.65 billion. The U.S. Securities and Exchange Commission (SEC) is set to decide on spot Solana ETFs this month, which could further boost investment.

Solana's growth is evident in its network activity. It has gained nearly 14% in a week and set records for fees generated and open positions at CME futures. On October 4, Solana applications earned $13.7 million in fees. Meanwhile, managed assets in Solana-based financial products have surpassed $500 million, indicating strong institutional interest. The Total Value Locked (TVL) in DeFi protocols on Solana fluctuates between $8.6 and $12.2 billion, showing significant growth.

To further enhance its speed and functionality, Solana is planning two upgrades, 'Firedancer' and 'Dockworker'. CME Group is also set to launch 24/7 trading in Solana futures and options starting October 13, providing more opportunities for investors.

The SEC's decision on spot Solana ETFs between October 10 and 16 could substantially increase institutional demand, which is already high due to investments from major players like Galaxy Digital and BlackRock. With record network activity and upcoming upgrades, Solana's future looks promising. As institutional interest grows and trading options expand, Solana continues to solidify its position as a leading blockchain.

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