Solana Shifts From Memecoin Hype to Building Core Financial Infrastructure

Solana’s latest phase may look quieter compared to its memecoin-driven peaks, but that shift appears intentional as the network refocuses on long-term financial infrastructure. According to Armani Ferrante, CEO of crypto exchange Backpack, the Solana ecosystem has spent the past year prioritizing decentralized finance, trading, payments, and settlement rather than speculative trends like NFTs or viral crypto games.

In an interview with CoinDesk, Ferrante explained that the broader crypto industry is entering a more mature stage, where blockchains are increasingly viewed as foundational financial infrastructure. Instead of chasing short-term hype, Solana is positioning itself as a high-performance network optimized for onchain trading, efficient market structure, and large-scale settlement. This evolution has led some observers to describe Solana as less exciting, but Ferrante sees it as a necessary step toward sustainability and real-world adoption.

The concept often referred to as “internet capital markets” is becoming central to Solana’s strategy. With its high throughput and low latency, the network aims to support tokenized assets, decentralized exchanges, and real-time financial activity at a global scale. Ferrante noted that while crypto-native investors remain cautious amid subdued market conditions, institutional interest has rarely been stronger. Wall Street firms are increasingly bullish on tokenization, stablecoins, and blockchain-based settlement systems.

Ferrante emphasized that the long-term value of Solana and blockchain technology lies in their role as neutral settlement layers. In this model, traditional financial assets such as stocks, bonds, and derivatives can exist as standardized tokens that move seamlessly across platforms instead of remaining locked in isolated databases. A token, he explained, is simply a universally agreed ledger entry that represents ownership, a concept that applies well beyond crypto.

Importantly, Ferrante rejected the idea that blockchain adoption requires avoiding regulation. Instead, he argued that compliance, legal clarity, and integration with existing regulatory frameworks are essential for meaningful growth. As crypto transitions from experimentation to embedded financial infrastructure, regulation becomes a prerequisite rather than a barrier.

While Solana’s reduced emphasis on hype may feel underwhelming to some, its focus on real-world finance, institutional adoption, and regulatory alignment reflects a broader maturation of the crypto ecosystem. If more of global finance moves on-chain, Solana is betting that building for reality, not spectacle, will define its long-term success.