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After the latest CPI data revealed that inflation picked up in January, following a trend of higher rates over the past three months, the overall market mood has soured. However, the price of BNB (Binance coin) is still rising, maintaining its upward trend despite increasing bearish pressure. Additionally, it has recently flipped Solana's market cap.
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Franklin Templeton's move into Solana's ecosystem could accelerate blockchain adoption and reshape the landscape of digital finance. The post $1.5 trillion Franklin Templeton launches tokenized treasury fund on Solana after hinting at SOL ETF filing appeared first on Crypto Briefing.
TL;DR Franklin Templeton has integrated its FOBXX fund into Solana to leverage its speed and security, expanding its availability beyond networks like Ethereum, Base, and Polygon. The fund maintains a stable $1 per share price and is backed 99.5% by U.S. government securities, cash, and repurchase agreements.
Franklin Templeton, a leading trillion-dollar asset management firm, has expanded its offerings by launching a tokenized version of its US government money fund on the Solana blockchain.
Franklin Templeton has officially expanded its tokenized money market fund to Solana. The asset manager, whose crypto traction includes the launch of spot Bitcoin and Ethereum exchange-traded funds, now offers its Franklin OnChain U.S. Government fund on Solana (SOL).
Solana (SOL), the fifth largest digital asset by market cap, has once again slipped below the crucial $200 mark as the broader cryptocurrency market remains in the red. The pullback comes amid a general market drop, with major cryptocurrencies struggling to maintain recent gains.
The move comes after Securitize linked to Solana to bring tokenized real-world assets to the network.
The Franklin OnChain U.S. Government Money Fund has integrated with the Solana blockchain, adding to its existing presence on multiple networks.
In an X post, Franklin Templeton announced that its Franklin OnChain US Government Money Fund (FOBXX) is now live on the Solana network. The asset manager highlighted Solana's speed, security, and censorship-resistance, promoting global adoption through its open infrastructure.
FOBXX, which invests in U.S. government debt, launched on Stellar and trades on Coinbase's Base, Aptos and Avalanche as well as Sui.
Solana (SOL) is navigating significant volatility, mirroring broader corrections, currently trading at $191 at the press time.
Metaplex (MPLX), a decentralized platform on Solana, is attracting attention after surging 2,100% in two months. The altcoin, trading near $0.29 support, shows bullish momentum with rising volume and positive market sentiment.
Trillion-dollar asset manager Franklin Templeton has launched its tokenized money fund on the Solana network, just a day after filing for a Solana Trust. This development provides a bullish outlook for the Solana price, which is currently struggling to stay above $200.
The market bounce back has not lasted long, and most of the coins are back to the red zone, according to CoinStats.
Bitcoin and other altcoin prices traded lower on Wednesday after the U.S. released hotter-than-expected consumer inflation data. Bitcoin (BTC) fell by 3%, while other popular altcoins saw steeper declines.
Solana has struggled to breach the critical $201 resistance level, falling below it a week ago. Despite favorable market conditions that could support a recovery, the lack of investor confidence remains a significant concern.
Solana price remains below the $200 mark as market uncertainty lingers, intensifying bearish pressure. The broader crypto market has seen corrections, impacting major assets like Bitcoin (BTC), which now trades near $96k.
TL;DR Franklin Templeton has registered the “Franklin Solana Trust” in Delaware, signaling potential entry into the Solana spot ETF market. The move aligns with industry trends and follows similar applications from Canary Capital and Grayscale, increasing the chances of SEC approval.
Crypto prices witness shakeups amid United States trade wars and evolving policy stances. The last headwind for the market is Donald Trump's new tariff on steel and aluminum in the United States.
Attention in the crypto sector is shifting away from memecoins and moving towards large-cap layer-1 projects, according to the digital asset analytics firm Santiment. Santiment notes traders are more focused on Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Toncoin (TON) and Cardano (ADA), which the firm says suggests a healthier crypto market dynamic.
Bitcoin dipped below $95,000 early in today's trading as a key support level crumpled. The flagship cryptocurrency is struggling to reclaim $96,000 and is currently trading around $95,450.
The institutional interest in Solana grows with Franklin Templeton
The SEC is reviewing multiple Solana ETF applications from major financial institutions, including new entrant Franklin Templeton, as part of a 21-day public comment period
