Solana ETF bump fizzles after $161 price spike
2025-07-02 21:19:36
Main Idea
Solana's price initially spiked due to ETF hype but quickly fell back, while the network set transaction records and saw growth in app revenue despite broader market challenges.
Key Points
1. Solana's price rose to $161 on ETF anticipation but dropped to around $146 shortly after, closing June at $155, down 1.2% month-over-month.
2. Solana processed over 2.1 billion transactions in June, setting a new record, with app revenue reaching $150 million, up from $133 million in May.
3. Pump surpassed Raydium in DEX volume with a 32% share, while trading-focused apps accounted for nearly 90% of revenue.
4. Validator income declined, with Jito tips dropping to 51% of total REV, and the validator set shrinking by 25% due to Solana Foundation offboarding.
5. Tokenized US equities (xStocks) launched with 11 listings and $1.3 million in day-one volume, with 40 more listings planned.
Description
Wow, the ETF hype sure didn’t last long
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