Price Plunges… But With Citi Jumping In, Is Solana Signaling a Reversal?

▲ Solana (SOL) ©CoinReaders

Prices are wavering, but institutions are stepping in. Citi’s tokenization experiment and ETF inflows are overlapping, bringing Solana’s long-term narrative back into focus.

According to cryptocurrency media outlet AMB Crypto on February 13 (local time), U.S. banking giant Citi, in collaboration with PwC, completed a proof-of-concept (PoC) for the tokenization of traditional financial products on the Solana (SOL) blockchain. The test simulated the entire process of issuance, distribution, and settlement of bills of exchange in a controlled environment, focusing on assessing the feasibility of migrating traditional financial assets onto blockchain infrastructure.

Network metrics also support its growing presence. Data from Token Terminal shows that Solana recently recorded approximately three times the daily transaction count of Ethereum (ETH). This figure surpasses the combined total of Ethereum’s mainnet and its Layer 2 networks. Notably, actual usage has remained intact despite recent price weakness.

According to DeFi analytics platform DeFiLlama, Solana’s total value locked (TVL) stands at approximately $6.36 billion. Although lower than its peak at the end of last year, decentralized exchange (DEX) trading volume reached about $3.72 billion, maintaining strong momentum. Perpetual futures trading volume was also reported at roughly $1.45 billion. Network activity has remained relatively resilient amid broader market volatility.

Institutional capital flows are also drawing attention. Despite several weeks of price declines, Solana spot ETFs recorded weekly net inflows of $8.89 million. Total assets under management have reached approximately $673.99 million. The fact that funds flowed in even as SOL’s price fell 11% during the same period suggests investor confidence in its long-term vision.

Zheng Jie Lim, research and data engineer at Artemis, stated, “Solana ranks first in user count, number of transactions, developer growth rate, trading volume, and fees,” adding that “these metrics are what make Solana the ‘internet capital market.’” While prices are undergoing short-term correction, the simultaneous influx of institutional experimentation and investment capital is reinforcing its long-term narrative.

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