Solana flips $BNB, clears $61 million short positions within 24 hours

Solana hit an all-time high of $130 billion, with SOL soaring 14.58% in the week, thanks to institutional demand from digital asset finance companies such as Forward Industries, which raised $1.65 billion. Galaxy Digital has accumulated 1.81 million SOLs and is expected to raise another $1 billion. With the Securities and Exchange Commission (SEC) deadline on October 16, the SOL ETF is expected to receive $5.5 billion inflows in the first year. Solana's total DeFi locked value (TVL) exceeds $13 billion, and its application revenue exceeds Ethereum and Hyperliquid. PUMP tokens soared 120% in two weeks due to active buybacks.