Solana news

Micron Technology reported stronger-than-expected fiscal Q3 earnings on June 24, with revenue of $41.46 billion and EPS of $25.11, beating analyst estimates. The company also raised its outlook, forecasting Q4 revenue of $49 billion to $51 billion and signaling AI-driven tight market conditions beyond 2027. Shares rose nearly 2.7% to $1,046. The report followed several bullish signals: Bank of America raised its price target to $1,500, Micron partnered with Anthropic on AI memory technologies, and tokenized Micron shares launched on Solana. These developments underscored growing confidence in Micron’s role in the AI economy. Management’s guidance, emphasizing sustained demand beyond 2027, carried more weight than the earnings beat. CEO Sanjay Mehrotra noted record investments to address rapidly growing customer demand, arguing the AI expansion is creating a longer-lasting demand cycle than previous tech booms. The Solana-based tokenized stock launch, just before a major earnings catalyst, highlighted the convergence of traditional markets and blockchain-based access. The event underscores the potential for tokenized securities to offer exposure to high-profile AI and semiconductor companies.

South Korea's KG Group has signed a strategic MOU with the Solana Foundation to build a stablecoin-based digital asset payment network across its merchant network. The partnership, formalized at KG Tower in Seoul, aims to develop stablecoin settlement systems and integrate Solana with existing regulated payment services. KG Group's affiliate KG Inicis processes over KRW 25 trillion annually, and the network covers roughly 220,000 merchants. The deal follows Toss Bank's recent MOU with Solana to test stablecoin-based cross-border remittances. Solana's stablecoin market cap stands at $15.21 billion, representing nearly 5% of the global stablecoin market. These agreements indicate growing interest from Korean financial groups in using Solana for regulated payment and banking applications.

South Korea's Toss Bank, a digital bank with 15 million users, has signed a memorandum of understanding with the Solana Foundation to explore blockchain-based financial infrastructure. The partnership will focus on a proof of concept for international remittances using stablecoins on the Solana network, with the first phase testing technical feasibility. The PoC is a bank-led model, keeping customers within Toss Bank's regulated app while using public-chain settlement behind the scenes. This contrasts with wallet-led models that require users to interact with a crypto-native interface. The test aims to see if blockchain settlement can improve an existing banking product in terms of cost, speed, or coverage. Key details remain undisclosed, including launch timing, specific stablecoin issuer, token, custody model, and eligible users. The project faces regulatory uncertainty in South Korea, where stablecoin policy is still evolving. Future phases may involve overseas partners and compliance checks such as AML and KYC.

Solana Foundation launched Frontier Traders, a program offering rebates, priority RPC, and account management to high-volume traders aggregating activity across Solana venues. The initiative aims to position the Solana network itself as a trading surface, competing with centralized exchanges by providing professional-grade infrastructure and economic incentives. Tiered VIP thresholds require up to $5 billion in 30-day volume and $100 million in open interest, targeting market makers and prop firms. The program covers over 90% of Solana spot and perpetuals activity through partners like Jupiter, Phoenix, and Raydium. Durability remains uncertain as incentives may attract temporary flow. The test is whether professional traders will adopt Solana as a long-term venue once subsidy campaigns end.

RBCH, the largest outside shareholder of Solana treasury firm Solmate Infrastructure, has sued its board for breach of fiduciary duty and self-dealing. The lawsuit alleges undisclosed insider warrants, share sales at inflated prices, and a dilutive stock issuance to board members Ron Sade and Keren Maimon at a steep discount to net asset value. The suit follows Solmate's rejection of a 30% premium acquisition offer from Forward, while the board issued shares to themselves at a price far below NAV. RBCH seeks emergency relief to prevent the board from using those shares to vote in an upcoming annual meeting, and demands removal of current leadership.

Solana captured 95% of all tokenized equity trading across blockchains last week, setting a record with $1.29 billion in volume. The surge was driven by SpaceX’s IPO token, SPCX. Despite this, SOL trades over 75% below its all-time high near $295, sparking debate among traders on whether the asset is near a cycle bottom. Onchain activity shows Solana generated $21 million in weekly app revenue, leading Ethereum, Hyperliquid, and Base. However, TVL stands at $5.7 billion, well below its $13 billion peak in September 2025. Traders remain divided on accumulation timing, with some citing historical drawdown patterns suggesting a bottom near $45-$60, while others note key moving averages still point lower.

Solana (SOL) set a single-day record of over $200 million in tokenized stock trades on June 20, accounting for nearly 99% of all such trades across spot decentralized exchanges. Despite this milestone, SOL's price remains near multi-year lows at $73.86, down 45% over the past year, highlighting a disconnect between adoption and price. The tokenization volume surge contrasts with a shrinking user base: daily active addresses have halved from a February peak of 5.5 million to about 2.55 million. This suggests concentrated activity rather than broad network growth. Additionally, Solana's monthly RSI hit a record low of 41.84, indicating deeply depressed momentum. On the daily chart, SOL is attempting to reclaim the $80 level, which serves as a bearish retest of a broken channel. A rejection could push prices back toward $60 support, while a clean reclaim would open the path to $100. The $80 retest will likely determine whether adoption or weak momentum prevails.

MoneyGram has joined the Solana blockchain as a validator, helping to process transactions and secure the network. The move is part of the remittance firm's broader push into stablecoin-based payment infrastructure. The announcement follows the recent launch of MoneyGram's MGUSD stablecoin on the Stellar blockchain, developed through a partnership with Stripe-owned Bridge. MoneyGram also joined Solana's Developer Platform to support institutional product development. CEO Anthony Soohoo stated that the company is building on open, interoperable stablecoin rails. MoneyGram's involvement with Solana reflects a strategy of utilizing multiple blockchain networks rather than relying on a single chain.

MoneyGram has become a validator on the Solana blockchain and joined the Solana Developer Platform, marking its entry into the ecosystem. CEO Anthony Soohoo said the move allows MoneyGram to contribute to the network's security and resilience as blockchain infrastructure becomes more important to global payments. As a validator, MoneyGram can stake SOL tokens and process transactions, while the developer platform provides tools for building financial products on Solana. MoneyGram has previously built blockchain payment products, including its MGUSD stablecoin and partnerships with Stellar and Kraken. The company's past partnership with Ripple ended in 2021 due to the SEC lawsuit against Ripple. When asked about a possible future partnership with Ripple, Soohoo declined to comment.

Baillie Gifford, a 118-year-old investment firm, launched a tokenized fixed-income fund in partnership with BNY. The Baillie Gifford Enhanced Yield Fund (BAGEY) is denominated in dollars and offers eligible investors access to an actively managed short-duration portfolio of public corporate bonds using Ethereum and Solana blockchains. The fund operates through a U.K.-regulated Open-Ended Investment Company (OEIC) structure and currently yields around 7%. BNY will provide tokenization and wallet infrastructure, while NatWest Trustee and Depositary Services serves as depositary. The fund is available to eligible investors in the U.K., Switzerland, and the Cayman Islands.