Solana is the new Wall Street, says Bitwise Cio, calling it ‘Extraordinarily Funny -akit’
Solana’s role in the career to capture the tokenized markets won new attention this week when Bitwise called it Cio Matthew Hougan “The New Wall Street.”
Speaking At Solana Labs’ Akshay Rajan on October 2, Hougan said financial leaders around the world are increasingly recognizing the disturbing potential of stablecoins and tokenization.
He noted that the leaders of the SEC and Bank of England, along with the CEO of Blackrock, were signed by all that digital ownership could reshape of payments and security markets. Hougan added that this narrative strongly reflects investors who understand the size of the changing technologies that can be brought.
Hougan said as soon as the audience began to consider how to get a blockchain exposure, comparisons between platforms were inevitably followed. In that review, he argued, Solana’s combination of speed, throughput and close-instant end makes it “extremely attractive.
He noted improvements from 400 microseconds to 150 microseconds at the speed of the regulating, describing the features that are easy to understand for those who are accustomed to trading environments where the implementation and latency are critical.
Framing Solana as “The New Wall Street,” Hougan said the technical edge of the blockchain reflects market participants. He said the narrative was “really resonant” and added that “you will see the big flow.”
Sol’s technical evaluation of price action
According to CoinDesk Research’s review data data, during the 23-hour session from October 3 and 15:00 UTC to October 4 to 14:00 UTC, Sol exchanged within a narrow range of $ 8.40 between $ 228.19 and $ 237.04, reflecting a period of aggregation.
The high was set at $ 237.04 at 16:00 on October 3 before the stable pressure sale pushed the price less to the $ 228- $ 229 place, to act as support.
The trading activity was the strongest in advance of the session, with volumes peeking 3.29 million units around 17:00, but gradually refused 42,637 through the closing time of the review period. The sharp reduction in volume suggested weakening of participation and a potential pause before a larger move direction.
In the last 60 minutes, from 13:11 to 14:10 UTC on October 4, Sol broke down below a $ 228- $ 229 support in the zone. Prices fell from $ 229.84 to $ 228.94, a 0.39% collapse that confirmed the bearish shift.
Within this window, the market showed two phases: an early rebound attempt that briefly raised the price to $ 229.78 at 13:38, following a revised sale that pushed the token up to $ 228.72.
Importantly, this deterioration is at the same time as a volume climb. The single busiest minute took place at 14:01, with 18,011 units exchanged-the maximum one-minute session reading.
This pattern of falling price beside the increasing volume suggested that the larger seller is active, potentially increasing the likelihood of the Bearish momentum continuing.
Denial: Parts of this article were formed with assistance from AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
