Solana (SOL): co-founder Toly Yakovenko downplays SOL's role as money, prioritizing liquidity

During a public appearance on May 21, 2026, Anatoly Yakovenko, co-founder of Solana Labs, stated that SOL's role as money is "generally neutral" (net zero). This statement comes at a time when Solana (SOL) has a market capitalization of 51.49 billion US dollars and a 24-hour trading volume of 224.55 million US dollars, according to verified CryptoScore Pro data. Yakovenko emphasized that the value of SOL is more closely tied to its liquidity and its utility within the Solana ecosystem than to its adoption as a direct means of payment. The facts Anatoly Yakovenko confirmed at a public event that SOL does not play a central monetary role in the Solana ecosystem. According to him, the token's value derives mainly from its technical functionality, particularly for transaction fees and interactions with decentralized applications (dApps). This approach contrasts with traditional blockchains, where the native token often serves as a medium of exchange or store of value. Meanwhile, the HYPE token, native to Hyperliquid (a decentralized trading platform built on Hyperliquid Chain), reached a new all-time high of 63 US dollars on May 21, 2026. This performance reflects growing enthusiasm for assets linked to the Solana ecosystem. Solana (SOL) has a score of 70/100 in the CryptoScore Pro evaluation, with a most recent audit conducted by Trail of Bits and an active development team of five members. Why it matters Yakovenko's statements could reinforce the perception of SOL as a technology asset rather than a monetary one, which could attract institutional investors focused on blockchain infrastructure. This direction aligns with a logic in which modern blockchains, such as Solana, focus on transaction efficiency and interoperability rather than on adoption as a payment currency. The HYPE token, linked to the Solana ecosystem, has already benefited from this momentum with a 45% rise over one month. HYPE's market capitalization now reaches 10.49 billion US dollars, making it one of the most active tokens in the sector. This performance illustrates the growing appeal of perpetual contracts and decentralized exchanges (DEXs) built on Solana. In the event of geopolitical disruptions, such as those mentioned by Rapidan Energy Group regarding the closure of the Strait of Hormuz, blockchains like Solana could be perceived as resilient alternatives to traditional financial systems, thereby reinforcing their adoption. Points to watch Upcoming technical updates to Solana, notably GitHub releases, could influence the perception of SOL as a utility token. Increased integration of SOL into financial products, such as ETFs or tokenized funds, could strengthen its legitimacy as an infrastructure asset. The evolution of dApp activity and trading platforms, such as Hyperliquid, remains a key factor for SOL's valuation. Regulatory uncertainty, particularly in Europe where requirements could evolve, could impact SOL's valuation. Increased competition in the high-throughput blockchain segment, with projects such as Sui, Aptos or NEAR, could capture part of Solana's liquidity and adoption.