Solana Ecosystem Growth Continues as PayPal and Stripe Integrate Network into Their Payment Systems

Solana is increasingly seeing ecosystem growth thanks to technical developments and key partnerships. Notably, PayPal and Stripe, two financial industry giants

Solana's ecosystem is expanding rapidly, thanks in part to key partnerships with financial industry giants PayPal and Stripe. Both companies have integrated Solana into their payment systems, enabling users to buy, sell, and hold cryptocurrencies on the Solana network.

These integrations are a major vote of confidence in Solana, both institutionally and on the retail side. Retail investors are increasingly driving traffic to platforms like pump.fun, which have collected millions in fees over the past few months.

Solana's institutional adoption is also growing, with several major hedge funds and asset managers now adding Solana to their portfolios. This institutional interest is likely to help fuel Solana's continued growth in the coming months and years.

Here is a summary of some of the key highlights from the report:

* PayPal integrated Solana into its platform, enabling users to buy, sell, and hold cryptocurrencies on the Solana network.

* Stripe also announced its support for payments on Solana, enabling merchants to accept cryptocurrency payments via the Solana network.

* Solana-native platforms like pump.fun have seen massive growth, with the memecoin launchpad collecting $48 million in total fees for the quarter.

* Raydium, Solana's biggest decentralized exchange (DEX), benefited from pump.fun's activities, boosting its average daily volume by 77% quarter-over-quarter.

* Despite the memecoin activity boosting Raydium TVL, Solana's overall TVL fell in dollar terms due to token price depreciation.

* However, the TVL denominated in SOL, Solana's native token, actually grew by 26% QoQ, indicating strong underlying capital flow.

These figures indicate that Solana's ecosystem is continuing to grow and expand, setting it up for further growth in the coming months and years.

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