Solana's (CRYPTO: SOL) ecosystem showed notable financial and institutional growth in the year's third quarter, securing $173 million in new funding across 29 projects despite a slowdown in the number of funding rounds, according to a new Messari report.

What Happened:This 54% quarter-over-quarter increase represents the highest quarterly funding total since Q2 2022, highlighting investor confidence in Solana's infrastructure and DeFi solutions, Messari writes.

A notable aspect of Solana's growth is its appeal to institutional giants.

"Solana has caught the attention of major players like Visa, PayPal, and Franklin Templeton, each of whom expanded operations on Solana this...