Crypto Decline Yet Solana Treasuries Growing: 3 Top Solana Meme Coins to Purchase
Institutional investments are increasingly flowing into Solana, even as the overall cryptocurrency market slows down, bringing renewed attention to the chain’s most actively traded meme coins.
A recently rebranded public entity specializing in Solana (ticker: HSDT) announced on Friday that it has onboarded Coinbase, BitGo, and Anchorage Digital as custodians while steadily developing a SOL-based corporate treasury.
This initiative, revealed in an 8 a.m. ET release, underscores the growing institutional framework surrounding Solana at a time when crypto asset valuations have softened in the last 24 hours.
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How Is Solana Enhancing Its Treasury and Core Structure?
BTC has dipped to the low $117,559 range, while Solana remained around $210-215 as of October 10.
As Friday’s US session began, Bitcoin and large-cap tokens experienced a downturn. Reports indicated a late-week decline following Bitcoin’s surge to ledger levels earlier in the week.
“Bitcoin’s price swings seems ready for a breakout,” remarked Nick Forster from Derive, noting an increase in implied price swings across various expirations.
Nonetheless, the fundamental infrastructure of Solana continues to grow. The recent HSDT upgrade introduces multi-custody support, a feature frequently required by institutions, and aligns with the company’s ongoing accumulation of SOL on its balance sheet.
The firm cites on-chain data from Solscan and Messari highlighting robust throughput and a consistent base of active users, further solidifying Solana’s appeal to treasury managers.
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Why Do BONK, WIF, and BOME Lead the Solana Meme Coins Arena?
Bonk (BONK) stands out as Solana’s premier “dog token,” widely available on leading exchanges.
It boasts a market capitalization of approximately $1.36 billion and recorded $275 million in trading volume over the past 24 hours, experiencing a decline of about 6-7% during that time, according to CoinGecko.
(Source: Coingecko)
BONK serves as a crucial available volume standard for Solana.
Robust order books and significant visibility facilitate trading even under challenging market conditions.
Dogwifhat (WIF) remains trending among traders, exhibiting substantial derivatives activity. Its market value is around $667 million with over $200 million in daily trading volume.
(Source: Coingecko)
Though prices have fluctuated this week, trading activity remains vigorous. This continual turnover and depth across exchanges maintains WIF among the most actively traded Solana meme coins, particularly appealing to short-term and momentum traders.
BOOK OF MEME (BOME) is an artist-led initiative that is prominently available across multiple exchanges.
Currently, the crypto token trades around $0.0015, achieving daily volume of approximately $36 million and a crypto market capitalization ranging between $800 million and $900 million.
(Source: Coingecko)
Although its weekly results have been inconsistent, maintaining active participation and a robust community keeps market fluidity reliable compared to newer Solana meme coins. This steadiness aids in achieving clearer price discovery, particularly during market hesitance.
The general trading market sentiment currently appears subdued. Bitcoin is stabilizing while altcoins present a mixed response.
In this context, HSDT’s latest custody enhancement is noteworthy as it reveals the profile of current Solana investors, primarily institutional managers and public-market participants via listed funds, rather than solely crypto-focused investors.
Such investors tend to adopt a longer-term perspective and are less concerned with fleeting price fluctuations.
This aligns well with Solana, which continues to demonstrate robust on-chain activity, high throughput, and consistent user engagement.
For traders interested in Solana’s more volatile aspects, liquidity continues to be heavily concentrated in a few key tokens: BONK, WIF, and BOME. These assets are the most active avenues for those looking to trade higher-risk Solana holdings while primary cryptocurrencies remain stable.
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