Solana's Institutional Adoption Grows, But SOL Price Remains Stagnant

Solana's SOL token is trading at $68.15, roughly -75% below its January 2025 all-time high.

Despite this, major financial institutions such as JPMorgan, Visa, PayPal, and Franklin Templeton are actively building on Solana's infrastructure for next-generation capital markets.

A June report by Tiger Research identified Solana as the core infrastructure layer for Internet Capital Markets (ICM), a model where asset issuance, trading, and settlement occur on a single public blockchain.

The institutions listed above have demonstrated significant adoption of Solana's rails, with notable examples including JPMorgan's $50 million commercial paper issuance in December 2025, Visa's expansion of its USDC settlement program to Solana in 2023, and PayPal's launch of its PYUSD stablecoin on Solana.

The technical case for Solana is strong, with the network processing 33 billion transactions in 2025 at an average fee of $0.0013, and transaction finality of approximately 0.4 seconds.