Solana Price Gains Anticipated as Bit Mining Launches DOLAI Stablecoin
BIT Mining has launched DOLAI, a USD-pegged stablecoin on the Solana blockchain, chosen for its high speed and low cost. The stablecoin aims to connect AI agents, merchants, consumers, and institutional finance, with plans for future multi-chain interoperability.
DOLAI Stablecoin Details
- DOLAI is backed by reserves in cash and short-term US Treasuries.
- The project adheres to US regulatory standards, incorporating AML and KYC procedures.
- BIT Mining and Brale Inc. collaborate to ensure compliance.
Despite the positive developments, SOL is currently trading at $189.18, down 2.89% in the past 24 hours. Analysts speculate a potential shift towards Cardano.
Pantera Capital aims to raise $1.25 billion for a Solana-focused treasury vehicle, starting with $500 million. Additionally, Galaxy Digital, Multicoin Capital, and Jump Crypto are working on a $1 billion Solana treasury deal, indicating growing institutional interest.
WEPE Crypto Launches on Solana
Wall Street Pepe (WEPE), a new meme coin project, has debuted on the Solana blockchain after a successful presale. This project targets traders in a volatile market environment.