Solana's Price Rises 0.385% as Institutional Interest and Innovations Surge

Solana's latest price was $176.09, up 0.385% in the last 24 hours. Solana has been making significant strides in the cryptocurrency world, with several key developments and partnerships that highlight its growing influence and potential. One of the most notable advancements is the launch of the Solana Attestation Service (SAS), a decentralized identity protocol designed to enhance compliance across the crypto space. This groundbreaking tool simplifies compliance efforts in the crypto landscape, allowing users to obtain reusable credentials for DeFi applications. The SAS enables compliance, access control, reputation systems, and programmable identity across the Solana ecosystem, providing a better and easier experience for both end users and builders. This innovation significantly reduces the complexity that developers traditionally faced in managing user identities, streamlining the integration of compliance features. The SAS supports a plethora of applications, from DeFi compliance and access control in video games to preventing Sybil attacks within decentralized autonomous organizations (DAOs). Builders can leverage SAS for creating region-specific restrictions, enhancing user uniqueness, and developing sophisticated reputation systems. This release is a notable achievement for the newly formed Solana Identity Group, comprising key players such as Civic, Solana.ID, Solid, Trusta Labs, and the Foundation itself, all working to provide innovative, privacy-centric identity protocols tailored for the Web3 era. In the absence of a centralized authority, SAS empowers users and developers alike to establish a secure and compliant crypto environment. With this launch, Solana positions itself as a front-runner in bridging traditional finance and blockchain technology, a transition that is critical for the industry’s evolution.

Institutional interest in Solana’s infrastructure has been growing, with traditional financial firms increasingly eager to explore Solana’s potential for asset tokenization. A case in point is R3, a blockchain infrastructure provider managing assets worth over $10 billion on its Corda platform, which has initiated a partnership with Solana aimed at onboarding financial giants like HSBC. Furthermore, Kraken, a prominent U.S.-based cryptocurrency exchange, has also announced its intention to utilize Solana’s infrastructure for the international trading of U.S.-listed stocks. Such developments underscore the increasing relevance of Solana as a bridge between traditional finance and blockchain technology. The launch of SAS is timely, coinciding with a surge in institutional interest in Solana’s infrastructure. Nzube Ezido highlighted this, indicating that SAS is a pivotal component of Solana’s expanding financial capabilities. According to Ezido, “As we quickly ramp up on the capital market narrative, oracles that keep RWA in sync will need this to offer trust for on-chain to off-chain state.”

Solana’s influence extends beyond the financial sector, with the launch of a new verification service that can be used to verify any content and is designed to provide a trust layer for the Internet capital market. The Solana Attestation Service (SAS) allows off-chain data to be associated with any Solana wallet, and applications can now verify information such as KYC/identity proof, investor accreditation, on-chain reputation, while maintaining privacy through signature-based verification. This service is designed to provide a trust layer for the Internet capital market, allowing off-chain data to be associated with any Solana wallet. Applications can now verify information such as KYC/identity proof, investor accreditation, on-chain reputation, while maintaining privacy through signature-based verification.

Solana’s growing influence in the crypto world is also evident in the luxury watch market, with Swiss watchmaker Franck Muller launching a Solana-inspired, limited-edition series of watches. The collection, limited to 1,111 units, features a unique design that could appeal to Solana ecosystem participants. Each watch contains an embedded unique QR code to directly link to the user’s Solana address, making it a "phygital" (physical-digital) symbol of identity and ownership in the crypto age. However, the launch comes at a time when flaunting crypto-related wealth is becoming risky, with the cryptocurrency industry seeing dozens of physical attacks just this year. While the watches are certainly a piece of crypto mythos, they may be a collectible that investors may not want to show off. The company’s Solana-inspired watch collection is limited to 1,111 units that will set buyers back 20,000 Swiss francs. While the watches feature a unique design that could appeal to Solana ecosystem participants, their launch comes at a time when, unfortunately, flaunting crypto-related wealth is becoming risky. The cryptocurrency industry has seen dozens of physical attacks just this year, with a notable case seeing the daughter and grandson of Pierre Noizat, CEO of crypto platform Paymium, being targeted in a daytime attempted kidnapping. The attack was filmed and shared on social media. While that kidnapping attempt failed, an earlier one in the same city saw the father of a crypto millionaire get abducted. Police managed to rescue the man, but not before his finger was severed. Earlier this year, the co-founder of hardware wallet maker Ledger, David Balland, along with his wife, was abducted from his home and saw similar treatment. The couple was later rescued by authorities, and a ransom that had been paid out was seized. There have been many other similar attacks in recent months.

At the Solana Accelerate 2025 conference, Anthony Scaramucci made one thing clear: Don’t treat Solana like just another blockchain; it’s gearing up to be the backbone of global finance. The SkyBridge Capital founder, who’s now penning a book titled Solana Rising, believes traditional finance is on the brink of a major upgrade, with Solana at the core. He predicts Solana will become a core infrastructure for tokenizing real-world financial assets. Institutional adoption of Solana is “inevitable,” despite regulatory friction, Scaramucci says. Bold claims but he’s backing it up with research, interviews with Wall Street CTOs, and co.