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2024 has been a bounceback year for Solana, with the price of SOL growing by more than 650% in the last 12 months. Although much of Solana’s earlier growth was linked to NFTs and meme coins, SOL is now venturing towards digital asset partnerships with trillion dollar TradFi (traditional finance) giants including Citibank and Franklin Templeton. As Solana seeks out new pastures with institutional partnerships, new SOL rival JetBolt (JBOLT) is skyrocketing to new heights. Let’s take a closer look at exactly what these new prospective Solana on-chain securities could look like, and what sort of ramifications these could have on the Web3 and finance markets. We’ll also highlight other SOL developments, such as the rapid rise of young Solana rival, JetBolt, which merges AI and blockchain.
Why Solana (SOL) could be TradFi’s new proving ground for the next wave of on-chain finance
This year’s Solana Breakpoint event ushered in new SOL partnership announcements. Traditional finance giants were amongst some of the big headliners announcing Solana partnerships seeking to bridge the gap between finance and Web3. In particular, American multinational Franklin Templeton announced its plans to develop a Solana powered mutual fund. According to Franklin Templeton representatives, SOL was their blockchain of choice for this project due to the specific constraints of mutual funds, where big volumes of ledger entries require a cryptocurrency such as Solana with fast speeds, cost efficiency, and scalability. Solana (SOL) price is up 11.8% this week following positive Solana news updates and a revival of the crypto market which has also seen young SOL rival JetBolt (JBOLT) gain massive traction in the presale market.
Why SOL whales are snapping up JetBolt (JBOLT) coins this week
Solana holders and crypto whales are snapping up a new altcoin that also shares some of Solana’s key advantages. JetBoltb (JBOLT), the new zero gas altcoin with AI functionality is gaining growing attention and SOL and altcoin buyers are seeing the potential in this groundbreaking cryptocurrency. As the crypto market roars once again with enthusiasm following positive crypto market sentiment, altcoins like Solana, JetBolt and others are gaining renewed interest which could even signal that an altcoin season could be on the horizon should this trend persist.
Citigroup earmarks SOL for possible cross border payments and SOL ETFs updates
Citi group also recently announced its desire to explore Solana use cases for cross border payments. Citi is no stranger to crypto and has utilized competitor AVAX in the past for Private Equity fund tokenization use cases. While these partnerships highlight SOL’s increasing prominence amongst TradFi firms, crypto analysts were quick to note that Solana ETFs (exchange-traded funds) might not receive approval as soon as SOL counterparts ETH and BTC. Regulators could be apprehensive for a number of reasons, including due to Solana’s past volatility.
Can Solana’s latest developments, including new Solana Mobile “Seeker”, help SOL surpass ETH?
Amongst the large cap crypto coins, Solana is amongst this year’s top price gainers. Crypto analysts attribute SOL’s 12 month price rise to two things, firstly the fact that Solana’s price dropped substantially in late 2022 and 2023, allowing for room to grow back, and due to the growing demand for SOL in 2024, fueled by the popularity of Solana meme coins, SOL games, and other Solana DApps. More recently however, Solana has been growing in popularity as it seeks recognition and use beyond traditional Web3 applications, venturing into the TradFi space but also into physical hardware. During the recent Token2049 crypto summit, Solana Labs unveiled its second generation smartphone, the Seeker, which could help it onboard more users into Web3. This new Solana android phone is more than a mere fad, as Decrypt reports over 140,000 pre-orders so far.
Conclusion – Solana TradFi breakthroughs as young rival JetBolt skyrockets
Solana’s move into TradFi shows the increased mainstream adoption of cryptocurrencies and altcoins. SOL’s impressive yearly growth, coupled with powerful new partnerships and new vectors for Solana and altcoin adoption via hardware, gaming, and finance, showcase Solana’s ability to diversify and seek out new opportunities. As SOL whales and crypto buyers wait to see future altcoin developments, many are buying new coin JetBolt (JBOLT) as this younger coin gains growing popularity. Solana (SOL) paves the way for greater altcoin adoption, highlighting the growing demand for cost-effective, fast, and more affordable coins like SOL and JBOLT that don’t have many of the shortcomings of older generations currencies such as Bitcoin.
To find out more about JetBolt, more information is available at the links here:
JetBolt official Website: https://jetbolt.io
JetBolt X (Twitter): https://x.com/jetboltofficial
JetBolt’s Telegram: https://t.me/jetboltcoin
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