FED's Raphael Bostic hints at possible 50bps rate cut in November if job data weakens.

Voting is now live on Jupiter Exchange Proposal for 215M Unclaimed $JUP Airdrop.

$HONEY , $MPLX , $CROWN Lead Solana Ecosystem Token Performance During Breakpoint
Which native tokens outperformed the market during Solana Breakpoint 2024?

Solana Breakpoint delivered a bounty of massive announcements not only for Solana, but also for a host of applications and projects building in the ecosystem.

However, market dynamics don’t always line up with protocol updates. Hype and speculation can push prices up ahead of the event, only to be met with disappointing price action when teams don’t deliver the news traders are hoping to hear.

On the other hand, projects that were ignored by speculative traders can enjoy solid price appreciation when they deliver unexpected announcements.

In the eyes of the market, who were Solana Breakpoint’s best and worst performers?

Solana Breakpoint Market Dynamics
To illustrate market dynamics during Breakpoint, analysts compiled and analyzed price data from 20 key projects in the ecosystem. Tokens were shortlisted from the following criteria:

In the industry’s top 1,000 tokens by market capitalization.

Made announcements, or participated in Breakpoint panels and debates.

If not presenting at the event, proven ecosystem OGs like Orca and Raydium were included.

Other than BONK Memecoins were excluded. BONK’s inclusion is due to its announcements and significant presence at the event.

Using Step Finance data, prices were pulled from Breakpoint’s opening and compared that with the price recorded at the closure of the event.

While the market anticipated big announcements from the likes of Jupiter and Sanctum, it was the projects that no one expected updates from who performed the best. $HONEY , $MPLX , and $CROWN outperformed the market, while most of the ecosystem remained largely unchanged.

Hivemapper, the company behind $HONEY , shared impressive growth statistics. The DePIN protocol has successfully mapped over 26% of the world’s road network and now sells mapping data to three of the ten largest mapmakers.

Metaplex, one of Solana’s longest-standing infrastructure providers, held a stealthy presentation in The Pod, one of Breakpoint’s smaller spaces. During the session, Metaplex teased the upcoming launch of the Metaplex Aura Network, a mysterious new addition to Metaplex’s product suite.

Finally, Photo Finish announced that its mobile app was approved for distribution on the Apple App Store. According to Photo Finish CEO, this makes the app the world’s first real-money horse racing mobile game approved by Apple.

However, Breakpoint is a relatively short event with plenty of other dynamics influencing price movements. For example, $CLOUD’s appears to have traded sideways during Breakpoint, but it needs to be said that the asset enjoyed an impressive surge both before and after the event.

Despite stale price action throughout Breakpoint, $CLOUD is up 67% on a weekly time frame and has been one of the Solana ecosystem’s best performers, based on Step Finance data.

Update

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Dan Albert the Executive director of Solana Foundation argues for why SolanaFndn should be dissolved at Solana Breakpoint 2024

$1 .3 trillion asset manager Franklin Templeton plans to launch a Mutual Fund on Solana blockchain.

Phantom integrates with Mayan Finance with would now allow users to bridge from ETH to 30+ Solana tokens.

Bitcoin Dominance Hits 3-Year High

Bitcoin's market cap has surged to 57% of the total crypto market, its highest level since April 2021.

The 2024 Energy Impact Report reveals solana's carbon footprint reduction by 69% since December 2023. The network achieves this via on-chain carbon credits, innovative biodiversity credits, and a MiCA-compliant real-time emissions dashboard.

Marinade Finance hires Hadley Stern, ex-president of Fidelity Digital Asset Services, as Chief Commercial Officer to enhance its Solana staking solution and strengthen its position in the digital asset industry.

Bitcoin is back above $57 ,000

Solana reclaims $135

The crypto market jumps as the US unemployment rate hits 4.2% as expected compared to 4.3% previously easing recession fears. Investors are bracing for September rate cuts, and optimism grows over the market’s near-term outlook.

SOL rebounds after dropping to $123 during a market-wide crash, turning green on the day against BTC and ETH pairs. The price has now surged back above $134 showing signs of relative strength.

CRYPTO MARKET UPDATE:

- BTC: $60 ,582
- ETH: $2 ,572
- SOL: $145

FTX cold storage wallet has transferred 240,247 $mSOL ($46.09M) to Coinbase Prime.

Coinbase Prime offers Marinade staked SOL ($mSOL) custody for institutions.

Total market cap of Crypto Stablecoins hits 2-year high.

Market Cap: $169 billion

Crypto Exchange Kraken Pro must face a SEC lawsuit accusing it of operating an unregistered securities exchange, a judge ruled.

Source: Bloomberg

Brazilian Regulator Approves Second $SOL ETF Reinforcing Solana Adoption in Latin America

Eric Balchunas an ETF analyst stated that Solana ETF filings never made it past Step 2, as the SEC failed to acknowledge them, leading exchanges to withdraw their
19b-4s

—a "snowball's chance in hell" of approval without a leadership change.

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Cybersecurity researchers at Check Point Research have uncovered a new threat targeting cryptocurrency users, dubbed the Styx Stealer malware.

Shake out before the breakout! End of summer Pump loading for all strong MEMES🔮🐕🐩🐕‍🦺🚀🚀🚀

$BONK $POPDOG $WIF #memecoin #SolanaSummer

$POS ready for green candles🐧✅

Phantom Wallet had an issue earlier today that temporarily hid SPL token balances, which caused users some worry. The issue was solely related to the display of account balances and did not affect actual holdings.

They've been able to rectify it now so users can be at rest.

Hivemapper, a decentralized mapping network built on solana, has officially mapped over 25% of the global road network.

Moonkebiz partners with Blackwing to offer liquidation-free margin trading for Solana memecoins.

Total Crypto liquidations have surpassed $200 million in the last 24 hours.

🚨BREAKING: Marathon Digital has just announced the private offer of senior convertible notes worth $250 million to buy more #Bitcoin !!️ 👀

Coinbase International Exchange & Coinbase Advanced have launched perpetual futures for Solana's $MEW memecoin.

Solana DePins Rally Over 30% While TradFi Platforms Suffer Outages - A Sign of the Future

DePin tokens like SHDW, RENDER, and HONEY bounced hard after chaotic market dynamics sent crypto prices tumbling.

Solana DePINs (Decentralized Physical Infrastructure Networks) once again proved their worth. Showing resilience in the face of bearish market forces, DePIN tokens have enjoyed a powerful resurgence from local bottoms, indicating strong demand.

Moreover, infrastructure outages across the world of traditional finance lend further credibility to DePINs and other decentralized services.