Solana
Why Solana is up 4.9% today
Analysis
Solana (SOL) rose 4.9% over the past 24 hours alongside positive sentiment tied to a new borrowing product that lets users borrow against staked SOL. The Block reported that βSolana Companyβ shares jumped 17% after the firm rolled out borrowing against staked SOL, which likely supported bullish positioning around the Solana ecosystem.
Contributing Factors (1)
Solana Company shares jump 17% as firm rolls out borrowing against staked SOL
Solana treasury companies are starting to turn to staking income and on-chain financing tools as lower SOL prices pressure balance sheets and share prices.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.