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Welcome to this week’s Web3 Digest by Magnet! As institutional adoption accelerates and real-world integrations deepen, the line between traditional finance and crypto is quickly disappearing. From Coinbase entering the S&P 500 to eToro’s successful IPO, this week brought major moves across the industry. Let’s break down what really matters.
Coinbase is about to reach a major milestone for crypto adoption: inclusion in the prestigious S&P 500 index. This move signals a new level of mainstream recognition for the crypto industry by traditional finance. Coinbase joining the S&P 500 isn’t just a win for one company — it’s a turning point for the entire crypto sector. What was once dismissed as fringe technology is now embedded within the structure of global finance.
Israeli fintech company eToro — a platform for trading stocks, cryptocurrencies, and other assets — has successfully completed its IPO.
Initially targeting $500 million, eToro expanded the offering to $620 million after strong investor demand. The $52/share pricing exceeded its original range, signaling robust confidence from the market. This IPO is a key milestone for the crypto-fintech sector, reflecting growing institutional and retail interest in platforms bridging traditional finance with digital assets.
Solana continues to demonstrate impressive growth, steadily outpacing competitors across key metrics. Its TVL has jumped to $10.9 billion, surpassing the combined TVL of Ethereum’s major L2s like Arbitrum, Optimism, and Base.
DEX volume also leads the pack — Solana hit $2.8B in daily trading, outpacing Ethereum thanks to fast, low-cost protocols and deep liquidity. Meanwhile, 65% of SOL is currently staked, and institutional confidence is rising: DeFi Development recently acquired 172K SOL ($24M), underscoring growing belief in Solana’s long-term strength.
1. MetaMask Embraces Solana: A Leap Beyond EVM: MetaMask will launch native Solana support in May 2025 — its first integration outside EVM-compatible chains. This unlocks seamless access to Solana dApps and adds momentum to the multichain future of Web3 wallets.
2. Mastercard x MoonPay: Global Stablecoin Payments Go Live: Mastercard and MoonPay are launching stablecoin-enabled payment cards, usable at over 150 million merchants worldwide. Real-time stablecoin-to-fiat conversion at point of sale makes crypto spending frictionless — a major step toward mainstream adoption of digital assets.
Stay tuned for next week’s Web3 Digest! From Wall Street breakthroughs to ecosystem milestones, the momentum is building — and we’re here to help you keep up. Don’t just follow the space — stay ahead of it, with Magnet.
