- Franklin Templeton endorses Solana.
- Solana is rated as being highly efficient and scalable.
- Institutional interest in Solana has grown.
Solana is seeing a continued uptick in interest from major financial institutions. Following its partnership with Stripe and Paypal and its major support for VanEck’s Solana ETF application, more traditional institutions are joining in.
Among them, Franklin Templeton, a global leader in asset management, once again expressed its support for Solana. The company’s digital assets team highlighted Solana’s cutting-edge technology and strong adoption.
Franklin Templeton Highlights Solana’s Technology
On Tuesday, July 23, Franklin Templeton’s Digital Assets team took to Twitter to highlight Solana’s significant progress. The endorsement highlighted Solana’s high adoption rate, as it has solved some of the technical issues that were previously addressed. They also praised Solana’s high-throughput, monolithic architecture, which sets it apart from other blockchains.
Solana’s adoption is evidenced by its high decentralized exchange (DEX) volume. On Wednesday, July 24, the network overtook Ethereum again, reaching $2.485 billion in daily volume. Some of this growth came from Mimecoin, with platforms like Pumpfun collecting $48 million in total fees in Q2 2024. This achievement is significant because it demonstrates the network’s ability to handle a high volume of transactions with low latency while keeping costs down.
Franklin Templeton’s recent praise for Solana reflects his previous support for blockchain technology and vision. In January, Franklin Templeton highlighted Solana’s capabilities, highlighting its vision of an efficient single-state atomic machine. The company praised Solana’s potential to reduce information asymmetry and its significant activity in DeFi, NFT innovation, and other areas.
Franklin Templeton DA Sees Potential in Bitcoin and Ethereum
Franklin Templeton’s DA team highlighted their continued interest in Ethereum, citing it as the largest decentralized ecosystem. They mentioned parallel execution, which helps the network scale, and re-staking, which introduces new ways for stakers to earn rewards.
The DA team expressed their enthusiasm for developments within the Bitcoin ecosystem in addition to Solana. They specifically mentioned the development of Bitcoin Layer 2 solutions that help the network scale. They also highlighted other ways to earn rewards and more.
On the other side
- Solana is I had a hard time due to the power outage.Including the recent one in February, when analysts suggested a bug in the code was causing the problem.
- The network suffers from severe congestion, which causes transactions to fail.
Why this matters
Franklin Templeton’s endorsement of Solana shows that Solana is becoming increasingly important and trustworthy in the blockchain space. Similar endorsements increase investor confidence and attract more developers to the ecosystem.
Learn more about Franklin Templeton’s previous case against Solana:
Solana Receives Praise from Financial Giant Franklin Templeton
Learn more about Binance Labs’ latest investments:
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