Solana ecosystem multiple positive resonance: canary release application spot ETF, USDC large casting and protocol expansion

On January 27th, Solana's ecosystem released key developments, attracting market attention. On the regulatory level, Canary Release (Grayscale) submitted a 19b-4 application for Solana spot ETF to the US SEC on January 25th. If approved, it may open up a new channel for institutional funds to enter the market. This move is seen as an important test for the compliance process of mainstream public chains after Bitcoin and Ethereum ETFs, but the SEC's regulatory attitude towards Solana remains uncertain.

 

In terms of on-chain activities, USDC Treasuryminted 250 million USDC on the Solana chain on the 26th, setting a record for the largest single publish this month. Analysts pointed out that the large-scale issuance of stablecoins is usually related to the growth of on-chain liquidity demand, which may imply an increase in the active level of Solana's ecological DEX and lending scenarios. In addition, the AI proxy protocol Virtuals Protocol announced its expansion to Solana, planning to convert 1% transaction fees into SOL reserves and strengthen ecological collaboration through the Meteora liquidity pool. The protocol previously accumulated users on the Base chain in the "AI proxy tokenization" mode, and this migration may further enrich Solana's DeFi and AI application scenarios.

 

The canary release of ETF applications and the surge in on-chain activities have formed a cumulative effect, which may support the price of SOL in the short term. However, the market still needs to be vigilant about macro policy risks and the progress of ecological projects. As of press time, SOL has not yet escaped from the recent fluctuation range, and the community has heated up discussions on the progress of ETF approval and the actual empowerment effect of the agreement.