Citi builds on Solana: Will SOL become the ‘internet capital market’?

ambcryptoОпубликовано 2026-02-13Обновлено 2026-02-13

Введение

Citigroup (Citi) has completed a proof-of-concept for tokenizing traditional financial instruments on the Solana blockchain in collaboration with PwC. The test simulated the full lifecycle of tokenized bills of exchange, exploring how TradFi assets can move onto blockchain in a practical way. Despite recent price volatility and an 11% weekly drop in SOL's value, the network continues to demonstrate strong fundamentals. Solana handles approximately three times more daily transactions than Ethereum and all its Layer 2 networks combined. Its Total Value Locked (TVL) stands at around $6.36 billion, with significant DEX volume of $3.72 billion and perpetual futures volume of $1.45 billion. Notably, SOL spot ETFs saw $8.89 million in weekly inflows despite the price decline, bringing total assets to roughly $674 million, indicating strong long-term investor confidence. As summarized by a researcher from Artemis, Solana leads in users, transactions, developer growth, trading volume, and fees, positioning it to potentially become the "internet capital market." Institutional experimentation and continued capital allocation suggest growing belief in Solana's long-term narrative.

Big names are building on Solana [SOL], while the network pushes out massive transaction numbers even during price dips. So what’s really going on here?

Let’s break it down.

Solana’s big moment

Banking giant Citi has just completed an internal tokenization proof-of-concept using Solana, in collaboration with PwC. The test simulated the full lifecycle of tokenized bills of exchange (from issuance and distribution to settlement) in a controlled environment.

The goal was to explore how TradFi instruments could move onto the blockchain in a real-world way.

Source: X

Meanwhile, Solana has been flexing its scale. Recent data from Token Terminal showed that the network handles about 3x more daily transactions than Ethereum [ETH]!

Source: Token Terminal

That lead is on more than Ethereum’s mainnet and all of its Layer 2 networks combined!

Where does Solana stand?

According to DeFiLlama, Solana’s total value locked (TVL) was at around $6.36 billion at the time of writing. While that’s below its late-2025 highs, activity across DEXs was strong with roughly $3.72 billion in DEX volume.

Source: DeFiLlama

Perpetual futures volume is also notable, coming in at about $1.45 billion.

Even though the market has been volatile and SOL’s price has fallen, people are still using Solana. That steady activity is important.

Greater ambitions

After a few red weeks, SOL spot ETFs recorded $8.89 million in weekly inflows, putting total assets at roughly $673.99 million. This happened even as SOL posted a 11% loss this week!

Source: SoSoValue

It’s becoming increasingly evident that investors are buying into the long-term vision.

That roadmap was summed up by Zheng Jie Lim, Research and Data Engineer, Artemis, who said,

“Solana is number one in users, transactions, developer growth, trading volume, and fees… That’s how Solana becomes the internet capital markets.”

So, institutions are experimenting while investors allocate capital. That combination doesn’t quite happen by accident!

Final Thoughts

  • Citi’s Solana tokenization test and 3x dominance have added to the long-term SOL narrative.
  • $8.89 million in SOL ETF inflows despite an 11% weekly drop means investors are looking beyond the near-future.
Next: HYPE price prediction – Identifying the next liquidity target for traders
Share
  • Share
  • Tweet

Связанные с этим вопросы

QWhat major financial institution recently completed a tokenization proof-of-concept on Solana, and what was the purpose?

ABanking giant Citi, in collaboration with PwC, recently completed an internal tokenization proof-of-concept on Solana. The purpose was to simulate the full lifecycle of tokenized bills of exchange (from issuance and distribution to settlement) in a controlled environment to explore how traditional finance (TradFi) instruments could move onto the blockchain in a real-world way.

QHow does Solana's daily transaction volume compare to Ethereum's, according to Token Terminal data?

AAccording to recent data from Token Terminal, the Solana network handles about 3 times more daily transactions than Ethereum. This lead is over Ethereum's mainnet and all of its Layer 2 networks combined.

QWhat was Solana's Total Value Locked (TVL) and DEX volume at the time the article was written?

AAt the time of writing, Solana's total value locked (TVL) was approximately $6.36 billion, and the activity across DEXs was strong with roughly $3.72 billion in DEX volume.

QDespite a weekly price drop, what positive signal did SOL spot ETFs show regarding investor sentiment?

ADespite SOL posting an 11% loss for the week, SOL spot ETFs recorded $8.89 million in weekly inflows, bringing total assets to roughly $673.99 million. This indicates that investors are looking beyond near-term price volatility and buying into the long-term vision.

QAccording to Zheng Jie Lim of Artemis, how is Solana positioned to become the 'internet capital markets'?

AZheng Jie Lim, Research and Data Engineer at Artemis, stated that 'Solana is number one in users, transactions, developer growth, trading volume, and fees... That's how Solana becomes the internet capital markets.'

Похожее

Figure Technology Confirms Customer Data Breach After Social Engineering Attack

Figure Technology, a blockchain-based lending firm, has confirmed a data breach resulting from a social engineering attack. Hackers tricked an employee into providing access, leading to the theft of approximately 2.5 GB of customer data, including names, addresses, birth dates, and phone numbers. The group ShinyHunters claimed responsibility and released the data after the company refused to pay a ransom. No financial information or passwords were confirmed to be compromised. The company has launched an investigation, notified affected customers, and is offering free credit monitoring. Cybersecurity experts emphasize that such attacks target human vulnerabilities rather than technical flaws.

TheNewsCrypto7 мин. назад

Figure Technology Confirms Customer Data Breach After Social Engineering Attack

TheNewsCrypto7 мин. назад

Grayscale Moves to Convert AAVE Trust Into ETF

Grayscale has filed with the SEC to convert its AAVE Trust into a spot ETF to be listed on NYSE Arca, continuing its strategy of bringing crypto products into regulated structures. The Aave protocol is a leading DeFi lending platform, and its native token, AAVE, has a market cap of around $1.8 billion. This move reflects growing institutional interest in DeFi. If approved, the ETF would charge a 2.5% sponsor fee and use Coinbase for custody, allowing traditional investors to gain exposure to AAVE without directly managing tokens. Grayscale's effort follows its successful conversion of its Bitcoin Trust into an ETF, though Bitwise also filed for similar AAVE-related products in December.

TheNewsCrypto7 мин. назад

Grayscale Moves to Convert AAVE Trust Into ETF

TheNewsCrypto7 мин. назад

Is LayerZero's Zero an 'Ethereum Killer'?

LayerZero's upcoming Zero chain, developed in collaboration with Wall Street giants like Citadel Securities and DTCC, aims for 200 million TPS and ultra-low transaction fees. Rather than being an "Ethereum killer," Zero is positioned as a complementary scaling solution that amplifies Ethereum’s ecosystem. Technically, Zero uses innovations like QMDB and FAFO for high-speed execution but relies on Ethereum for security via ZK-proof bridging. It supports EVM compatibility, allowing easy DApp migration without code rewrites. This design makes Zero an "external execution layer" rather than a replacement. Economically, while some value may initially migrate, Zero’s cross-chain bridge (OFT standard) is expected to route value back to Ethereum, especially in RWA (Real World Asset) settlements. Its low fees target high-frequency TradFi use cases, with Ethereum serving as the security anchor. Ecosystem-wise, Zero enhances Ethereum’s role as a multi-chain hub. It enables hybrid deployments (execution on Zero, governance on Ethereum) and attracts non-crypto users through TradFi partnerships, ultimately strengthening Ethereum’s position in the expanding RWA landscape.

marsbit26 мин. назад

Is LayerZero's Zero an 'Ethereum Killer'?

marsbit26 мин. назад

Q4 Net Loss of $667 Million, Yet Stock Soars 16%, Don't Buy Coinbase Now

Coinbase reported a net loss of $667 million in Q4 2025, with revenue of $1.78 billion falling short of expectations. Despite this, its stock surged 16.46% the next day, reflecting short-term market confidence. However, analysts caution against investing in Coinbase at this time, citing high cyclicality and near-term headwinds. The company’s revenue is split between transaction-based income (56%) and subscription & services (44%). Transaction revenue relies heavily on retail trading spreads, which remain vulnerable to crypto market volatility. Subscription revenue includes stablecoin-related income (mainly from USDC interest sharing), staking, and emerging services like Coinbase One and Base L2. Key challenges include Coinbase’s high correlation with Bitcoin’s, regulatory uncertainty in the U.S., and growing competition from decentralized exchanges (DEXs) globally. Although Coinbase maintains a dominant position in the U.S. due to its regulatory compliance and trust, analysts expect continued pressure on brokerage fundamentals through 2026. Earnings are projected to underperform consensus estimates by 14% in 2026, with potential downside in a prolonged crypto downturn. While regulatory clarity may eventually benefit Coinbase, its effects are likely too slow to offset near-term financial weakness. Analysts advise waiting for a better entry point, as current risk-adjusted returns appear unfavorable.

marsbit43 мин. назад

Q4 Net Loss of $667 Million, Yet Stock Soars 16%, Don't Buy Coinbase Now

marsbit43 мин. назад

Q4 Net Loss of $667 Million, Yet Stock Soars 16%, Don't Buy Coinbase Now

Coinbase reported a net loss of $667 million in Q4 2025, with revenue of $1.78 billion falling short of expectations. Despite this, its stock surged 16.46% the next day, reflecting short-term market optimism. However, analysts caution against investing in Coinbase at this time, citing high cyclicality and near-term headwinds. Revenue is split between transaction-based income (56%) and subscription/services (44%). Transaction revenue relies heavily on retail trading spreads, which are under pressure due to declining crypto prices and reduced volatility. Subscription revenue, led by USDC interest income and staking, offers diversification but remains sensitive to interest rates and market conditions. Key debates include whether Coinbase can reduce its dependence on crypto market cycles, the sustainability of stablecoin profits, and the impact of future regulations. While the company holds a dominant position in the U.S. market due to its regulatory compliance and trust, it faces growing competition from decentralized exchanges globally. Analysts project underperformance in 2026, with earnings potentially 14% below consensus due to compressed client assets and trading activity. Although regulatory clarity may benefit Coinbase long-term, it is unlikely to offset immediate financial pressures. Valuation scenarios range from a negative IRR in a bear case to a high IRR in an optimistic rebound, but near-term risks currently outweigh potential returns.

Odaily星球日报46 мин. назад

Q4 Net Loss of $667 Million, Yet Stock Soars 16%, Don't Buy Coinbase Now

Odaily星球日报46 мин. назад

Торговля

Спот
Фьючерсы

Популярные статьи

Обсуждения

Добро пожаловать в Сообщество HTX. Здесь вы сможете быть в курсе последних новостей о развитии платформы и получить доступ к профессиональной аналитической информации о рынке. Мнения пользователей о цене на SOL (SOL) представлены ниже.

活动图片

Топ вопросы

Популярные категорииright-arrow

Популярные тегиright-arrow