Institutional money keeps building in Solana even as the broader crypto market cools, putting fresh focus on the chain’s most liquid meme-coin trades.
A newly rebranded public company focused on Solana (ticker: HSDT) said Friday it added Coinbase, BitGo, and Anchorage Digital as custodians while continuing to build a SOL-denominated corporate treasury.
The move, announced at 8 a.m. ET release, highlights how institutional infrastructure around Solana is expanding at a time when crypto prices have softened over the past 24 hours.
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How Is Solana Expanding Its Treasury and Core Infrastructure?
Bitcoin eased to the low $117,559, while Solana hovered near $210-215 as of Oct. 10.
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Bitcoin and large-cap tokens were mostly lower heading into the US session on Friday. Headlines pointed to a late-week dip after Bitcoin’s record high earlier in the week.
“Bitcoin volatility is poised for a breakout,” said Nick Forster of Derive, pointing to rising implied volatility across expiries.
Even so, Solana’s core infrastructure keeps expanding. The new HSDT update adds multi-custody support, a feature institutions often need, and coincides with the company’s continued buildup of SOL on its balance sheet.
The firm points to on-chain metrics from Solscan and Messari showing high throughput and a steady base of active users, all reinforcing Solana’s case to treasury allocators.
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Why Do BONK, WIF, and BOME Dominate Solana Meme Coins Market?
Bonk (BONK) is Solana’s leading “dog coin,” listed widely across major exchanges.
It holds a market cap near $1.36 billion with $275 million in 24-hour volume, down roughly 6-7% over the past day, per CoinGecko.
(Source: Coingecko)
BONK earns its place as Solana’s liquidity benchmark.
Deep order books and strong visibility make it easier to trade even when markets get rough.
Dogwifhat (WIF) remains a crowd favorite with heavy derivatives action. It’s valued at around $667 million with over $200 million in daily trading volume.
(Source: Coingecko)
Prices have swung this week, but activity stays high. That consistent turnover and depth across exchanges keep WIF among the most actively traded Solana memes, especially for short-term and momentum traders.
BOOK OF MEME (BOME) is an artist-driven project that’s widely listed across exchanges.
The token trades near $0.0015, with around $36 million in daily volume and a market value between $800 million and $900 million.
(Source: Coingecko)
Its weekly performance has been uneven, but consistent activity and a strong community keep liquidity steady compared to newer Solana meme coins. That stability helps maintain clearer price discovery, especially when markets turn cautious.
The broader market tone remains muted. Bitcoin is consolidating, and altcoins are showing mixed moves.
In this scenario, the latest custody expansion by HSDT stands out because it highlights who’s buying Solana now, mainly institutional allocators and public-market investors through listed funds, not just crypto-native players.
These investors usually think in longer time frames and are less focused on short-term price swings.
That’s a good fit for Solana, whose core strength still lies in its on-chain activity, high throughput, and steady user engagement.
For traders seeking exposure to Solana’s more volatile side, liquidity is still concentrated in a few names: BONK, WIF, and BOME. These tokens remain the most active entry points for those willing to trade higher-risk Solana assets while the major cryptocurrencies hold steady.
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