Solana’s recent surge has captured market attention, fuelled by fresh activity on Pump.fun and a wave of institutional interest on Wall Street.
Over the past month, Solana’s price climbed nearly 30%, outpacing Ethereum’s 4% rise in the same period.
Source: CoinMarketCap
What began as a controversial livestreaming experiment is now driving Pump.fun’s comeback.
The Solana-based launchpad, known for enabling instant memecoin launches, has reintroduced its streaming feature after pulling it offline in 2024 due to unsafe broadcasts that included staged self-harm.
Relaunched this year under stricter moderation, it has quickly found traction.
Creators are now directly benefiting from a new revenue-sharing model, claiming over $19 million in fees in just a week.
Data shared by analyst Adam shows 46,700 wallets withdrew creator rewards in early September, a 50% rise from the previous week.
Among the biggest earners was Gainzy, who collected $108,000, while top claimants ranged between $70,000 and $177,000.
Adam also broke down the top 25 creators claiming fees before September 10.
This group included five prominent streamers, nine serial deployers, and 11 one-hit wonders, highlighting a mix of consistent contributors and viral newcomers driving the platform’s activity.
The incentives have fuelled rapid adoption.
Pump.fun now ranks close to 1% of Twitch’s channel volume and 10% of Kick’s.
Its co-founder Alon Cohen claimed the platform has already overtaken Rumble in concurrent livestreams and is closing in on Kick.
He declared on X,
“We’re nibbling on their lunch and coming for more.”
Rival platforms still dominate in viewership, with Twitch averaging more than 2 million concurrent viewers, but Pump.fun does not publish equivalent audience numbers for verification.
Alongside the streaming revival, the platform’s native PUMP token has surged past a $3 billion market cap less than two months after its ICO raised nearly $600 million in 12 minutes.
Viral streams and the creator fee structure are widely seen as key drivers.
Institutional players are also moving into Solana in size.
Forward Industries, a publicly traded company, has emerged as a heavyweight, securing 1.45 million SOL as part of a $1.65 billion raise in cash and stablecoin commitments.
The round drew backing from Galaxy Digital, Multicoin Capital, and Jump Crypto.
Together with DeFi Technologies and Neptune Digital, these groups now control more than 2.82 million SOL worth roughly $577 million.
Galaxy Digital holds 1.35 million SOL, DeFi Technologies 12,800, and Neptune Digital 9,600.
The consolidation of these positions signals growing Wall Street interest in Solana’s ecosystem.
Beyond trading and speculation, Solana’s ecosystem is branching into new sectors.
Metaplex recently launched Uniform Price Auctions to create fairer token sales.
Squads Protocol has opened its Grid platform for developers, while Moonbirds facilitated a $1.7 million physical collectible sale in just 24 hours.
Institutional-grade assets are also arriving.
Centrifuge has listed deJAAA and deTRSY on Solana DeFi platforms Raydium and Kamino Finance, marking a deeper push into real-world asset tokenisation.
Meanwhile, stablecoin issuance on Solana has reached a record $13.3 billion, cementing its position as one of the most liquid networks in crypto.
Coinlive notes that while Solana’s surge, backed by Pump.fun activity and Wall Street inflows, paints a picture of rapid growth, the ecosystem faces mounting challenges.
The platform’s reliance on viral content and high-fee incentives may not sustain long-term engagement, and livestream controversies highlight gaps in safety and moderation.
Institutional accumulation signals confidence, yet concentrated holdings expose the network to market swings.
As the PUMP token soars and new projects expand, the question remains whether Solana can translate short-term hype into enduring infrastructure and stable adoption.
Galaxy Digital led a major buying spree, acquiring 6.5 million Solana (SOL) tokens worth $1.55 billion over five days, pushing Solana’s price above $240. The firm also partnered with Multicoin Capital and Jump Crypto to fund Forward Industries’ Solana treasury strategy, driving strong investor interest and boosting the company’s shares.
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