Solana‘s (CRYPTO: SOL) ecosystem showed notable financial and institutional growth in the year’s third quarter, securing $173 million in new funding across 29 projects despite a slowdown in the number of funding rounds, according to a new Messari report.
What Happened: This 54% quarter-over-quarter increase represents the highest quarterly funding total since Q2 2022, highlighting investor confidence in Solana’s infrastructure and DeFi solutions, Messari writes.
A notable aspect of Solana’s growth is its appeal to institutional giants.
“Solana has caught the attention of major players like Visa, PayPal, and Franklin Templeton, each of whom expanded operations on Solana this quarter,” the report states.
With Solana now holding $123 million in tokenized treasuries, it ranks third globally in this category, trailing only Ethereum (CRYPTO: ETH) and Stellar, and edging closer to rivaling Ethereum’s dominance.
This stronghold in tokenized treasuries reflects a “shifting landscape” in blockchain adoption, with more financial entities recognizing the unique offerings of Solana’s network.
Messari’s report …
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