Why Solana is Daring to Call Itself ‘The New Wall Street’ – You Won’t Believe What Happened Next!

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Markets

What to Know:

  • According to our very own financial oracle, Matt Hougan-who’s definitely not just another suit-stablecoins and tokenization are ready to rocket us into the future of payments and securities! Even the bigwigs at the SEC, Bank of England, and BlackRock are nodding their heads in agreement. They must have seen the light (or perhaps just a really snazzy PowerPoint!).
  • Hougan claims Solana’s speed, throughput, and finality make it “extraordinarily attractive.” Kind of like trying to choose between a speedy sports car and a rusty bicycle-it’s an obvious choice unless you’re a masochist.
  • He’s gone and dubbed Solana “the new Wall Street”-because why not throw around metaphors like confetti at a graduation? With such hype, he predicts “substantial flows.” Sounds like the perfect way to bring in the cash, doesn’t it?

This week, everyone found themselves nodding earnestly at Solana’s role in tokenized markets, after Hougan proclaimed it “the new Wall Street.” Spoiler alert: It’s still not located on actual Wall Street, but who needs geography when you’re dreaming big?

During a riveting chat with Solana Labs’ Akshay Rajan on that fateful day of October 2 (seriously, have they not heard of October 3?), the financial shipmasters opened their eyes to stablecoins and tokenization’s serious game-changing potential. And that’s not just the caffeine talking!

He observed that the big cheeses like the SEC, Bank of England, and BlackRock’s CEO have all raised their digital asset flags. They seem to believe these technologies could shake payments and securities markets like a good maraca player in a quiet library.

As Hougan suggests, once folks start thinking about blockchain exposure, the inevitable part of the process is comparing platforms. And guess what? Solana’s chemistry of speed and finality is like a perfect romantic match-until someone shows up with a much shinier blockchain ring.

He illustrated the improvements in settlement speed, going from 400 microseconds to 150 microseconds. He chalked it up to intuition for those seasoned traders who can’t afford to deal with execution time that rivals your grandmother’s lasagna cooking.

With gusto, he painted Solana as “the new Wall Street,” and noted that the technical edge is resonating with market participants like a catchy pop song stuck in their heads. So many “substantial flows”-who needs a river when you’ve got this kind of liquidity?

Technical Analysis of SOL‘s Price Action

According to some mumbo-jumbo from CoinDesk Research’s technical analysis data model, during the 23-hour session from October 3 at 15:00 UTC to October 4 at 14:00 UTC, SOL decided to play it safe, trading within a snug little range of $8.40 between $228.19 and $237.04, proving once again that the crypto market can sometimes be as exciting as watching paint dry.

The high point was $237.04 at around 16:00 on October 3-before the selling crew popped the bubble and sent it spiraling downwards to a comfy $228-$229. Kind of like fitting into your jeans after the holidays-support is crucial!

Trading was bustling at the start of the session, peaking at 3.29 million units around 17:00, and then dramatically declining to a staggering 42,637 by the closing hour. Talk about a party that fizzled out faster than a soda without the cap!

In the last golden hour, from 13:11 to 14:10 UTC on October 4, SOL nosedived below the established support zone. Prices slumped from $229.84 to $228.94-a thrilling 0.39% drop, confirming a bearish shift. Emotionally charged investors everywhere might have clutched their hats!

Within this nail-biting countdown, the market displayed a thrilling two-act play: an early bust-out attempt that nudged the price to $229.78 at 13:38, and then a dramatic resurrection of selling that dramatically hurled the token down to $228.72-all accompanied by the heart-wrenching sound of cash registers ringing in the distance.

And just when you thought it couldn’t get any more riveting, in the final dramatic minute, volume surged spectacularly. The busiest minute occurred at 14:01, trading a whopping 18,011 units-the highest single minute of the session. Almost like a last-minute rescue by the cavalry! 🏇

This delightful dance of falling prices and rising volume suggests the big sellers are lurking, perhaps waiting to unleash a wave of bearish momentum that will have investors trembling in their boots. So, grab your popcorn, folks-this show is just getting started! 🍿

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2025-10-04 20:59