Solana News: BlackRock Expands $1.7B Tokenized Money Market Fund BUIDL to Solana

In a significant development for blockchain-based finance, asset manager BlackRock has expanded its $1.7 billion tokenized money market fund, BUIDL, to the Solana blockchain. This move marks another step in BlackRock’s push to integrate blockchain technology into traditional finance.

BlackRock, Securitize Expand $1.7B Tokenized Money Market Fund BUIDL to Solana

BlackRock’s tokenized money market fund, BUIDL, has become available on Solana, marking another step in the asset manager’s push into blockchain-based finance. The fund, officially the BlackRock USD Institutional Digital Liquidity Fund, combines a short-term yield-bearing portfolio of cash and U.S. Treasuries with the settlement and transfer capabilities of blockchain. Since its introduction on Ethereum in 2023, the fund has drawn in $1.7 billion and is on track to cross $2 billion by early April. The expansion makes BUIDL available on seven blockchains, including Ethereum, Polygon, Aptos, Arbitrum, Optimism, and now Solana. However, according to rwa.zyz data, only 62 wallets currently hold BUIDL on-chain.

Solana Crypto Meme Season Heating Up: Last Chance to Get Rich?

The crypto market is buzzing with the potential of a new Solana meme coin season. While many portfolios are still down by 80%, Solana meme coins have seen explosive growth, with some delivering gains of several hundred times their initial value. Currently, there is a resurgence of interest in Solana meme coins, with new coins making parabolic gains. Recently, the crypto meme coin #Routine had a strong run.

Trump Praises $TRUMP Memecoin, Price Pumps 15%

Donald Trump, the American President and crypto supporter, called his $TRUMP coin “the greatest of them all” on Truth Social. This triggered a 15% increase in the price of the Solana-based memecoin. The $TRUMP token was created on January 17 and reached a peak market cap of $14.5 billion by January 19, the president’s inauguration day. Despite being a meme coin, the momentum of the rise is still ongoing. Notably, the largest wallet on the network, presumably the project’s wallet, did not sell during the price pump.

Solana Gaining Strength as Traders Turn Bullish on SOL Price Rally - Will it Hit $200?

The Solana ecosystem continues to grow, boosting market confidence. Recent developments include Blackrock’s launch of a $1.7 billion tokenized Treasury fund on Solana, expecting to surpass $2 billion in early April. Polymarket, an Ethereum-based prediction market platform, also announced its integration with Solana to reduce fees and increase accessibility, leveraging Solana’s capability to process 65,000 transactions per second.