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Solana Rises 0.6% on Institutional Settlement Standard Launch

CoinDesk2 min read5 sources

Why is Solana up today?

Solana (SOL) rose 0.6% to about $121 on Tuesday after the Solana Foundation launched DvP, an open-source settlement standard with JPMorgan design input that settles tokenized assets in seconds.

Key numbers

SOL price$120.83+0.59% on the day
Settlement timeSecondsvs 1–2 business days today
SOL market cap$71B#7 crypto by size
SOL vs all-time high$293 peakabout 59% below (Jan 2025)
SOL 12-month change-48%per [4]
Galaxy Digital commercial paper$50MJ.P. Morgan-arranged, Dec 2025 (per [3])

What happened

Solana (SOL) rose 0.6% to about $121 on Tuesday after the Solana Foundation launched DvP, an open-source settlement standard with JPMorgan design input that settles tokenized assets in seconds. DvP means delivery-versus-payment: the asset and the money change hands in one step, so either both move or neither does. Today that usually takes one to two business days. The code is free for anyone to use and has passed outside security checks (audits). JPMorgan gave advice on the design but says it is not endorsing or running it.

Why it matters

Solana's new DvP standard could give banks and big investors a faster way to trade tokenized assets, which are digital versions of things like bonds or shares. Until now, each institution often had to build its own custom settlement code. No bank has committed to use it yet, so real-world adoption is what to watch. Payments settle in the USDC stablecoin, so the SOL coin itself earns only tiny network fees.

Who this affects

Marketneutral
Low impact
Crypto traders barely reacted; SOL rose just 0.6%.
Companybullish
Medium impact
Solana Foundation gains institutional credibility; no named users yet.
Competitorsmixed
Medium impact
Rival blockchains such as Ethereum face a new institutional contender.
Industrybullish
Medium impact
Banks gain a free, audited option for faster settlement.

Solana vs Ethereum, XRP

SolanaSOL$71B~$121-59%
EthereumETH$333B~$2,724-45%
XRPXRP$96B~$1.52-58%

As of 2026-10-05

How we got here

  1. SOL hits record high of $293, per 24/7 Wall St.

  2. J.P. Morgan arranges $50 million tokenized commercial paper deal for Galaxy Digital on Solana

  3. Solana Foundation releases open-source DvP settlement program, audited and MIT-licensed

What to watch

  • Whether any named bank or asset manager says it will use Solana DvPQ4 2026
  • Release of the planned privacy features for confidential settlements; no date givenTBD

Educational content only. Not investment advice.

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