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Solana has recently collaborated with PayPal’s PYUSD stablecoin, setting the stage for an increase in institutional interest in the blockchain network. This partnership is expected to have a notable impact on SOL, Solana’s native token.
Robinson Burkey, Co-founder and Chief Commercial Officer of the Wormhole Foundation, sees this integration with PayPal as a catalyst for more institutional involvement. Burkey believes that the speed and scalability of Solana’s network make it an appealing choice for institutions looking to enter the blockchain space. As more institutions start following PayPal’s footsteps, the prominence of Solana is poised to rise, resulting in a surge in demand for SOL.
The collaboration with PayPal’s PYUSD stablecoin marks a significant achievement for Solana, fueling Burkey’s positive outlook. With its capability to handle over 1,000 transactions per block, Solana is well-prepared to meet the requirements of institutional investors. Positioned as a frontrunner in the blockchain sector as its ecosystem expands, Solana is likely to see SOL, its token, benefit from the increased adoption.
Solana and PayPal Leading the Way with Potential Follow-ups
Solana has witnessed exceptional growth in 2024, driven by the burgeoning interest in meme coins and its ability to outperform Ethereum in DEX volume. This growth has been bolstered by the extension of PayPal’s PYUSD stablecoin to the Solana network, following a similar move by Visa in 2023.
Robert Burkey points out that Solana’s attractiveness to institutions stems from its capability to future-proof offerings by aligning with forward-thinking user platforms. This alignment is anticipated to result in heightened institutional investments in Solana, potentially impacting the SOL price significantly.
Burkey foresees more institutional collaborations for Solana in the upcoming years, which could lead to substantial gains for the SOL token. Currently showing a rise of over 13% in the last 30 days, SOL is likely to continue its upward trajectory as the network garners more attention. The mounting interest in Solana may pave the way for notable gains in the foreseeable future, cementing its place in the Web3 landscape.