SOL (Solana) has fallen by 1.79% in the last 24 hours.

Gate News Bot message, on September 25, according to CoinMarketCap data, as of the time of writing, SOL (Solana) is currently priced at $210.92, falling by 1.79% in the last 24 hours, with a high of $253.21 and a low of $206.04, and a 24-hour volume of $8.342 billion. The current market capitalization is approximately $114.611 billion, a decrease of about $2.091 billion compared to yesterday.

Solana is a high-performance blockchain platform that provides developers with fast, secure, and scalable infrastructure. It supports various Web3 application scenarios, including payments, gaming, NFTs, DeFi, and DAOs. Solana is known for its high throughput, low transaction fees, and environmentally friendly features, attracting more and more developers and businesses to join its ecosystem.

Important news about SOL recently:

1️⃣ Institutional investment continues to increase Publicly traded company Fitell Corporation invested $10 million to acquire 46,144 SOL, marking its first strategic acquisition under the previously announced financial plan for Solana. The company plans to use a $100 million financing arrangement for additional SOL acquisitions. The continued accumulation by institutional investors reflects confidence in the long-term value of SOL, which may provide support for its price.

2️⃣ Ecosystem Continuous Expansion The total value of tokenized real-world assets (RWA) on the Solana chain has risen to $671 million, setting a new historical high. In addition, Circle has minted 750 million USDC on the Solana network, bringing the total minted this month to 4 billion. These developments show that the Solana ecosystem is rapidly expanding in multiple areas, helping to enhance the network's utility and value.

3️⃣ Active financing for innovative projects The Solana-based decentralized perpetual contract exchange BULK has completed a $8 million seed round financing, while Web3 infrastructure startup Raiku has raised $13.5 million. These projects aim to address the transaction certainty issues on the Solana network and promote the realization of "predictable" transactions. Continuous innovation and influx of funds are expected to further enhance Solana's competitiveness.

From a technical perspective, SOL is currently facing an important support level at 200 USD. Although there has been a short-term pullback, considering the continued entry of institutional investors, the expansion of the ecosystem, and the active financing of innovative projects, the long-term fundamentals for SOL remain positive. Investors need to closely monitor changes in short-term market sentiment and long-term development trends.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.