According to Cointelegraph, institutional investment in Solana’s native blockchain applications has recovered in the third quarter of 2024. 29 Solana-based decentralized applications (DApps) raised a total of $173 million, an increase of more than 54% from the previous quarter.
Despite a 37% decrease in funding rounds, this is the highest level of Solana investment since the second quarter of 2022. Solana surpassed Ethereum in daily fees on October 28, generating more than $2.54 million in fees compared to Ethereum's $2.07 million.
Solana’s average daily fee payers increased to 1.9 million in Q3, up 109% quarter-over-quarter, while average new fee payers grew 430% to 1.3 million. Despite this, average daily non-voting-related transactions decreased 12% to 62 million.
Solana was the third-largest blockchain for tokenized treasuries at the end of the third quarter, with $123 million in tokenized treasuries. Asset management giant Franklin Templeton plans to launch a money market fund on Solana, boosting its tokenization growth.
Global banking group Societe Generale will also launch a euro-denominated stablecoin supporting the Solana network.
