started · updated
Solana and Bitcoin surge amid institutional RWA developments
The cryptocurrency market is experiencing a significant surge, driven by macroeconomic shifts and institutional developments. Bitcoin has seen a substantial rally, reaching highs near $79,500, fueled by a massive short squeeze and liquidity injections following the U.S. Treasury's announcement to double its long-term bond buybacks. This move, intended to address rising borrowing costs, has increased market liquidity and boosted investor appetite for digital assets.
In the altcoin sector, Solana is showing strong momentum. The token has climbed significantly, recently breaking above $90, supported by the largest net inflows into U.S. spot Solana ETFs in three weeks, totaling $14.59 million. Additionally, Shinhan Asset Management has entered a strategic partnership with the Solana Foundation, Etherfuse, and Orca to test a Korean won-denominated tokenized fund on the Solana blockchain. This pilot program aims to explore the issuance and on-chain distribution of real-world assets (RWA), a market projected by BCG to reach $30 trillion.
Other notable movements include the Monad blockchain, which saw its Total Value Locked double in a month, and the PEPE memecoin, which outperformed major assets like Bitcoin and Ethereum during a recent weekly rally.
Entities
Backpack Securities · Bitcoin · Bitwise · BlackRock · Donald Trump · Eli Lilly · Etherfuse · Grayscale · Moderna · Neuberger · Orca · Shinhan Asset Management
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The pilot program includes testing investor onboarding, KYC, AML, and on-chain liquidity design. www.tronweekly.com · www.cryptoninjas.net
- [● 3 SOURCES] The Real World Asset (RWA) market is projected by BCG to potentially reach $30 trillion. mycryptoparadise.com · www.tronweekly.com · www.cryptoninjas.net
- [● 4 SOURCES] Shinhan signed a four-party memorandum of understanding with the Solana Foundation, Etherfuse, and Orca on August 21. www.tronweekly.com · www.cryptoninjas.net · mycryptoparadise.com · crypto.news
- [● 5 SOURCES] Shinhan Asset Management is testing a Korean won-denominated tokenized fund on the Solana blockchain. www.tronweekly.com · www.cryptoninjas.net · mycryptoparadise.com · crypto.news
- [● 5 SOURCES] The U.S. Treasury announced it will double its long-term bond buybacks to increase market liquidity. coingape.com · criptotendencia.com · www.finanznachrichten.de · totalnewsagency.com · bitfinanzas.com
- [● 3 SOURCES] The proposed tokenized fund will be backed by an ultra-short-term Korean won bond fund. www.tronweekly.com · www.cryptoninjas.net · mycryptoparadise.com
- [○ 1 SOURCE] The Alpenglow upgrade aims to reduce Solana network finality from 12.8 seconds to approximately 150 milliseconds. www.finanznachrichten.de
- [○ 1 SOURCE] U.S. spot Solana ETFs recorded $14.59 million in net inflows, the largest single-day inflow in three weeks. coingape.com
- [● 3 SOURCES] Shinhan signed a four-party memorandum of understanding on August 21 with the Solana Foundation, Etherfuse, and Orca. www.tronweekly.com · www.cryptoninjas.net · mycryptoparadise.com
- [○ 1 SOURCE] The Alpenglow upgrade will reduce network finality from 12.8 seconds to approximately 150 milliseconds. www.finanznachrichten.de
- [○ 1 SOURCE] Solana’s tokenized equity market reached a total supply of $465 million.
- [● 3 SOURCES] The Real World Asset (RWA) market is projected by BCG to reach as much as $30 trillion. mycryptoparadise.com · www.cryptoninjas.net · www.tronweekly.com