Solana: $69M & a Whole Lot of Hope 🤷

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So, apparently people with actual money – the kind not found under the couch cushions – are throwing a substantial $69.5 million at Solana. Bitwise clients, they’re called. Sounds… important. It’s like deciding Solana is the slightly-less-risky option compared to, well, everything else. You know, when Bitcoin and Ethereum are busy being Bitcoin and Ethereum. 🙄

Solana, bless its heart, has been having a moment. Fast, cheap, full of “DeFi” and “Web3” – whatever those are. It’s the blockchain equivalent of a really enthusiastic puppy. Bitwise putting money in means they officially think the puppy won’t bite… too hard. Especially with all these “tokenized assets” floating around. It makes you wonder what exactly they’re tokenizing. My collection of chipped mugs, perhaps?

The numbers are going up, apparently. Transactions, developers, people locking up their coins… it’s all “climbing.” Like a toddler scaling a particularly slippery bookcase. Which is reassuring. Even if it occasionally bumps into the $200 resistance level and slides back down. That’s just blockchain physics, I guess. 🙃

Bitwise Goes Shopping

Bitwise, experts in “research-driven, transparent investment” (read: people who read a lot of charts), are really diversifying. They’ve already got Bitcoin and Ethereum, because of course they do. Now Solana joins the party. It’s like they’re building a crypto portfolio, and Solana is the awkward cousin they invited to Thanksgiving. They’re trying to seem supportive.

Analysts – those mysterious beings who predict the future – are saying this is a “shift” towards blockchains that can actually handle things. Solana’s pretty good at not completely collapsing during busy times, which is apparently a plus in the world of volatile markets. Lower expectations, you know? 🤔

And get this: their Solana ETF (BSOL) had a huge first day. $56 million! That’s… a lot of money to bet on a bunch of code. Bloomberg people were excited. It might even lead to ETFs for other things, like XRP and DeFi. The possibilities are truly endless, mostly involving people in suits looking at screens.

The $200 Quest

Right now, Solana’s hanging around $195. Barely holding on. If it gets past $200, apparently sparks will fly. Or something. Institutional money and ETF hype will propel it to new heights. Or maybe it’ll just wobble around a bit. It’s really a coin flip, isn’t it? 😅

And because things weren’t complicated enough, Western Union is getting involved with a stablecoin on Solana. That’s right, Western Union. The folks who usually deal with physical money are now dipping their toes into the digital swamp. It’s either a sign of the times or a very elaborate prank.

So, yeah. Big money is flowing into Solana. People are optimistic. They’re convinced it’s not just a fad. It’s “maturing” into a “long-term asset.” Which is exactly what they said about Beanie Babies. I’m just saying. The bulls are fighting for $200. I’m fighting for a nap. 😴

Cover image from ChatGPT, SOLUSD chart from Tradingview

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2025-10-30 05:15