Solana settled Bullish’s $1.15 billion IPO entirely in stablecoins on-chain, demonstrating Layer‑1 capacity for capital‑market–scale flows; this Solana IPO settlement positions SOL as a contender for institutional settlement rails beyond retail and ETF narratives.
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Solana settled Bullish’s $1.15B IPO fully in stablecoins on-chain — a capital‑markets milestone for an L1.
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Solana achieved a verified 100k TPS peak, underscoring its throughput capability for large transfers.
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Daily active addresses rose ~500k recently, while SOL lags ETH in monthly returns (SOL 5% vs ETH 15%).
Meta description: Solana IPO settlement: Solana settled Bullish’s $1.15B IPO entirely in stablecoins on-chain. Read analysis of SOL throughput, on-chain metrics, and market implications.
What is the Solana IPO settlement with Bullish?
Solana settled Bullish’s $1.15 billion IPO entirely in stablecoins on-chain, marking the first known Layer‑1 to clear an IPO‑sized capital flow natively. The settlement shows Solana’s network can move institutional‑scale stablecoin liquidity without off‑chain rails within a single chain environment.
How did Solana process a $1.15B stablecoin IPO settlement?
Settlement occurred via on‑chain stablecoin transfers routed through Solana’s network, leveraging its low latency and high throughput. Bullish’s funds were transacted in USD‑pegged stablecoins and recorded on Solana, demonstrating the chain’s ability to handle large single‑day liquidity flows.
Source: X
Why does the Bullish IPO settlement matter for SOL’s market recognition?
Front‑loaded: the settlement demonstrates real‑world utility that can attract institutional flows. Despite underperformance in price versus ETH, Solana’s operational milestone could shift narrative toward infrastructure suitability for institutional treasury and settlement use cases.
How does Solana’s on-chain activity compare to Ethereum?
Solana’s monthly price return trails Ethereum (SOL ~5% vs ETH ~15%), but on‑chain metrics tell a nuanced story. Solana reported a verified 100k TPS peak and a recent uptick in daily active addresses from 3.1M to 3.6M, adding ~500k addresses over three days — comparable in absolute terms to short‑term Ethereum activity.
Source: Artemis Terminal
Is SOL ready for Wall Street adoption?
Short answer: operationally, yes; market adoption will depend on counterparty acceptance, custody solutions, and regulatory clarity. Solana can move large stablecoin volumes, but institutional onboarding typically requires compliance tooling, custody, and settlement guarantees beyond pure throughput.
Frequently Asked Questions
Did Bullish really raise $1.15 billion in stablecoins on Solana?
Yes. Bullish’s IPO was recorded as $1.15 billion in stablecoins settled on Solana’s ledger, making this a significant proof point for Layer‑1 settlement capability in large dollar terms.
Does this mean SOL price should rally immediately?
Not necessarily. Price action lags technology; SOL’s recent returns trail ETH, and market rotation, liquidity, and sentiment will determine price response over weeks to months.
Key Takeaways
- Capital‑market milestone: Solana settled a $1.15B IPO in stablecoins — a first for an L1.
- Throughput validated: Verified 100k TPS peak and a material short‑term rise in daily active addresses.
- Market gap: On‑chain capability contrasts with muted price performance versus Ethereum; institutional adoption needs custody and compliance layers.
Conclusion
Solana’s settlement of Bullish’s $1.15 billion IPO in stablecoins is a concrete demonstration of Layer‑1 capacity for institutional‑scale transfers. While SOL still lags Ethereum in price returns, Solana’s throughput and recent address growth make a compelling case for infrastructure readiness. Watch for custody, regulatory, and counterparty adoption as the next catalysts.
