Solana: Crypto’s Bazaar or a Fool’s Gold?

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Les Points Clés

Why is Solana positioned for long-term growth?

As Grayscale mentioned, Solana’s strong on-chain fundamentals create the “necessary” conditions for its future growth. 🎭💰

Are institutions taking notice?

Nine public companies versus BNB Chain’s two companies signal growing institutional confidence in Solana’s network and tooling. 🤝📊

Grayscale called Solana [SOL] “crypto’s financial bazaar” in its report. 🐐💸

The report highlights everything from network fees and operational scalability to on-chain apps, and a strong on-chain economy, concluding that SOL’s fundamentals create the “necessary” conditions for future growth. 

In essence, Grayscale positions Solana as a top blockchain in the evolving Web3 landscape. With that in mind, could this report spotlight SOL’s relative undervaluation and attract renewed institutional interest? 🤔📈

Breaking down Grayscale’s Solana insights

The report kicked off by showing SOL’s dominance across multiple sectors. 🌍🚀

First up: Smart contract platforms. Solana sits alongside Ethereum [ETH], BNB Chain [BSC], and others in this space, but it stands out across all four key metrics, showing that user activity is still strongest on its network. 🏆💥

Why does this matter? Smart contract platforms are a core measure of a blockchain’s capabilities. Solana’s lead here signals that developers are using its tools to build applications and drive on-chain activity. 🧑‍💻🌍

In short, it’s a reflection of Solana’s superior infrastructure. 🏗️✨

Supporting this, the report points out that Solana’s average transaction fee ($0.02), with a block time (0.4s), is lower than both ETH and BSC, which explains its lead in smart contract execution and on-chain activity. 🏃‍♂️💨

In fact, Solana recently generated $3.41 million in 24-hour app revenue, outperforming the combined revenue of both ETH and BSC. Given this momentum, could Grayscale’s report signal a key inflection point for SOL? 🚀🔥

SOL draws institutional eyes as undervaluation persists

Grayscale’s report clearly underscores Solana’s undervaluation. 💸📉

Compared to other Layer-1s, SOL’s market cap doesn’t fully capture the strength of its network fundamentals.

On-chain metrics show Solana outperforming BNB Chain, yet its market cap remains roughly 1.5x smaller. 🤯💸

And yet, institutions are starting to show their preference. 

Nine public companies hold 2.5% of SOL’s supply, compared to just two companies holding 0.44% of BNB’s supply, signaling growing confidence in Solana’s developer tooling and ecosystem. 🤝📈

In short, the report puts this reality into perspective. 🧠💡

Even though Solana has lagged in speculative price growth, its strong on-chain fundamentals reinforce Grayscale’s bullish view on SOL, driving institutional investment, even as the token’s price trails some peers. 📉📈

In this context, the nine public holdings today may also be just the start of a broader wave of institutional adoption across the network, making Solana’s potential to surpass its rivals a long-term possibility. 🌟🚀

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2025-10-20 20:23