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Astro peng
4 days ago
πŸ‡ΊπŸ‡Έ Republican Rep. John Rose is proposing a bill to establish a joint advisory committee between the SEC and CFTC on digital assets.

It would consist of 20 representatives from the crypto industry and would aim to allow the sector to provide advice to both agencies on their respective rules, regulations and policies πŸ‘€
Pokemon
5 days ago
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.
TreyVon
6 days ago
Crypto markets have suffered noticeable pullbacks following September 10’s highly anticipated presidential debate.

In the wake of self-proclaimed β€˜Crypto President’ Donald Trump’s performance, scales have tipped in favor of Kamala Harris, with prediction markets illustrating renewed support for the Democrats.

Crypto Markets Tumble as Republican Confidence Wanes
The presidential debate had a resounding effect on the digital asset market. Following the event, $SOL price has dropped 5.1%, sliding from September 10’s high of $137 .9 to currently trade hands at $130 .84.

Beyond asset prices, CoinMarketCap’s Crypto Fear & Greed Index also dropped from a neutral 46.72 to a fearful ranking of 31.6.

The crypto market’s slide is expected to be due to the wider industry’s assumption that a Trump presidency will be favorable for the blockchain industry.

Commentators argue that Trump’s pro-crypto stance will greatly benefit the sector, with many analysts proposing that the approval of a spot SOL ETF hinges on a Republican victory. Meanwhile, some Solana community members expressed that regardless of who emerges triumphant in November, it will make little difference.

Over the past four years, the Biden administration has loomed large over the crypto industry. Gary Gensler and the S.E.C. (Securities and Exchanges Commission) have been widely criticized by the crypto community for their regulation-by-enforcement approach, which has seen the agency hand out a litany of lawsuits to crypto businesses throughout its time in office.

Volume Spikes on Drift Protocol’s Prediction Market
While Trump and Harris clashed heads on camera, traders took their chance to hit the prediction markets. Drift Protocol’s BET platform, a marketplace enabling users to trade the outcomes of real-world events, enjoyed an impressive surge of trading volume during the debate.

According to Dune Analytics, Drift Protocol’s BET protocol witnessed over $851k in daily trading volume. While falling short of market leader PolyMarket’s $14M daily volume, BET’s dramatic volume spike represented a 1,287% increase over the previous day’s trading.

According to BET’s dedicated market, Trump’s chances of winning the presidential election dropped from 54.2% to 49.5% since the debate began.

$TREMP Down, $KAMA Up
Finally, the landmark debate sent waves of volatility through Solana’s PolitiFi memecoin economy.

Unfortunately for $TREMP holders, crypto markets rejected the Presidential hopeful’s debate performance. $TREMP price crumbled under increased selling pressure, plunging 28% from.19 to currently exchange hands at.135, based on Step Finance data.

Meanwhile, the Kamala Harris-inspired $KAMA saw renewed support. $KAMA surged over 34%, rising from 0.007 to currently trade at.0094. Despite $KAMA’s superior performance, the memecoin still has a smaller market cap ($8.3M) than its PolitiFi rival $TREMP ($14.2M).
PLAYA
8 days ago
After the euphoric highs of Q2, fear and doubt have crept back into crypto markets in recent months.

Amidst the uncertainty Solana’s DeFi ecosystem has shed layers of TVL (Total Value Locked), with the majority of protocol’s losing between 13-18% in USD value on a monthly time frame.

However, despite the market-wide pullback, outperformers have emerged. Which protocols created a liquidity vacuum and expanded their TVL despite ailing markets?

NX FINANCE, LULO LEAD MONTHLY TVL GROWTH
Solana’s DeFi scene has enjoyed newfound momentum and attention throughout 2024. However, the last 30 days indicate a charge in sentiment, with the bulk of Solana protocols suffering significant drops in their TVL.

Despite challenging conditions, several outliers have outperformed the wider market and witnessed continued growth in the face of adversity.

Lending aggregator NX Finance led the charge, enjoying consistent growth in the face of difficult markets. Courtesy of its incentivized rewards program, NX Finance TVL rose 65% in the last 30 days, leading Solana’s top 50 DeFi applications by TVL.

Meanwhile, fellow lending aggregator Lulo Finance continued to rise through the ranks, securing over $30M in Directed Liquidity (DL). With over 92% of its DL, a similar metric similar to TVL, held in stablecoins, Lulo-managed value has increased by 32.27% in the last 30 days.

At first glance, DeFiLlama data suggests that Jupiter’s TVL has risen by 47.22% in the last 30 days. However, this increase is due to the popular analytics platform integrating $jupSOL into Jupiter’s total TVL on August 16, adding approximately $300M worth of funds to the platform.

According to Step Finance data, $jupSOL supply has risen 0.36% in the last 30 days. Coupled with the 2.22% decline in Jupiter perpetual TVL in the same time period, it can be concluded that Jupiter’s total TVL has remained relatively stable in the face of challenging market conditions.

Kamino TVL Climbs Despite Falling Prices
Kamino Finance has been one of Solana DeFi’s most solid performers throughout Q3’s volatility. While lending aggregators like NX Finance and Lulo predominantly hold stablecoins, making them more resilient to market downturn, Kamino accepts deposits from a wider range of more volatile assets.

Despite falling asset prices across the industry, Kamino has emerged as one of Solana’s standout DeFi protocols.

While $SOL price has dropped over 36% since its March 18 high of $202 , Kamino TVL has increased by 12% in USD terms. Denominated in SOL, Kamino TVL has risen by 76% in the same time frame.

JUPITER DOMINATES PERPETUAL TVL ACROSS THE INDUSTRY
Jupiter’s perpetual DEX platform shows no sign of relinquishing its iron grip on derivatives dominance. One of Solana’s largest DeFi protocols, Jupiter’s perpetual DEX is currently the largest onchain derivatives market in the crypto industry.

Boasting over $657M in TVL, Jupiter dominates perpetual market share. According to DeFiLlama data, the Solana-based platform currently accounts for 18.82% of onchain derivatives TVL across the industry.

While Jupiter boasts the highest TVL across all perpetual DEXes, its closest rival still witnesses higher trading volumes. During August, Hyperliquid handled $34 .6B in trading volume compared to Jupiter’s $15 .1B. It’s worth noting that Hyperliquid’s high volume could attributed to its points program, which is expected to influence token allocations ahead of the protocol’s upcoming airdrop
Beverly
8 days ago
Phantom, Solana’s most widely used wallet provider, has drawn criticism from some users for charging fees on in-app token swaps.

While some disgruntled community members attacked Phantom, voices across the Solana ecosystem came to the wallet’s defence. Reigniting debate around business models in the Web3 world, Phantom’s supporters argue that the platform has a right to generate revenue.

In an industry where meme coin presales can raise over $40M , is it fair to attack businesses providing essential services for charging easily avoidable fees?

SOLANA COMMUNITY MEMBERS COMPLAIN ABOUT 0.85% SWAP FEE
Frustrated Solana users have taken to 𝕏 to air their grievances about Phantom’s in-app swap fees. The public outrage came following circulation of data suggesting that the wallet provider generated over $30M in revenue through token swaps.

Comparisons between quotes between wallets and DEX aggregator Jupiter only added further fuel to the fire. Perhaps spurred on by stagnant market conditions, commentators on social media remarked that discrepancies between swaps provided by Phantom and Jupiter were β€œactually ridiculous.”

Eagle-eyed users remarked that the data wasn’t wholly accurate. Galactic Geckos founder Genuine Articles highlighted that the $30M figure was lower than expected, before Fabiano.sol, the influencer who originally shared the data, acknowledged that Phantom would’ve generated over $10M through in-app token swaps in 2021 alone.

While it’s obvious that traders can access better rates by using platforms like Jupiter directly, can Wallet providers be blamed for charging fees on value-added services?

Is the Slander Against Phantom Justified?
Content creator and former Phantom team member Seb Montgomery countered the attacks levied against Phantom. Arguing that every business has operational costs that need paid, Montgomery asserted that β€œDapps, apps, wallets, etc. need revenue or they close up shop, and head home.”

Hammering his points home, Montgomery reminded Solana users of their double standards. The content creator highlighted how network participants were willing to provide over $40M to the $WATER memecoin presale, but criticized an 0.8% fee on services offered by one of Solana’s longest-standing products.

β€œYou have probably lost $1000s on the pure rubbish. So don't be a clown and not support the wallets that make it all possible.” - Seb Montgomery

Montgomery also acknowledged that Solana owes much of its success to Phantom. Paying homage to Phantom’s position as Solana’s most widely used wallet, Montgomery asserted β€œWithout Phantom, Solana's success would not have been anywhere near where it got to.”

WHICH WALLET GIVES THE BEST VALUE ON SWAPS?
While traders and users looking for the best rates should always go directly to decentralized exchanges or aggregators, it’s also worth knowing the various in-app swap rates of different wallets.

Fuse Wallet - 0%

Solflare - 0.8%

Phantom - 0.85%

Backpack - 0.85%

It should also be noted that all Solana wallets route their trades through Jupiter. Solana’s leading DEX aggregator typically offers the best rates on trades and allows third-party apps to add fees onto swaps.

Despite some traders expressing frustration, Phantom and other wallet providers have always been transparent and forthcoming about in-app swap fees. Using wallet-based swaps is completely optional and easily bypassed. Trader’s complaints are hardly unresolved.
Bankless
8 days ago
Prices may be down, but Grayscale's making bull market bets if you know where to look.

These are the assets that have caught the attention of Crypto's Wall Street whisperer πŸ‘‡

========================================

When Grayscale announces a new Trust for a particular asset, the market often reacts with a mix of excitement and skepticism.

It's a bit like a double-edged sword: a signal of saturation for some and a beacon of hope for others.

Some might interpret the launch as a sign that the market for that asset is reaching saturation or at least limited upside potential in crypto terms.

On the one hand, it’s a stamp of approval from a major player in the crypto space. It can lend legitimacy to the asset, potentially attracting institutional investors, and, at the very least, boost media coverage.

Grayscale has been adding new investment products at a faster clip, showcasing their conviction that we’re in the middle innings of a crypto bull market fueled by a grand slam of bullish signals: #Bitcoin ETF inflows, the long-awaited $ETH ETF launch, increasing stablecoin adoption, and steady growth in TVL across DeFi.

As a quiet giant in the industry, investors continue to watch what Grayscale is backing and what that says about their impressions of which direction the industry is headed. What assets have caught their attention lately? Let's find out. πŸ‘‡

----------------------------------------------------------

Grayscale Decentralized AI Fund (FIL, NEAR, RNDR, LPT, TAO)

Grayscale Bittensor Trust (TAO)
Bittensor envisions a world where AI isn't a tool in the hands of a few corporations but a resource democratized for all. It aims to create an "Internet of AI" where everyone can contribute and benefit from AI models. $TAO incentivizes participants to contribute to the network by providing rewards for tasks like validating models and running AI computations.

As the AI race among big tech companies heats up, Grayscale believes that Bittensor offers a compelling alternative approach towards AI development, one that encourages a wider range of participants and ideas.

Grayscale SUI Trust (SUI)
$Sui boasts a novel blockchain design that prioritizes scalability and user experience. It allows for parallel processing, tackling multiple transactions simultaneously.
SuiNetwork
's competitive edge comes down to its custom-built programming language, Sui Move, which streamlines smart contract development and execution.

As the need for blockspace and faster execution in crypto increases, Grayscale believes that Sui opens the door to a new wave of decentralized applications that were previously limited by existing blockchain infrastructure.

The Grayscale Effect
Overall, the impact of a Grayscale Trust launch is highly subjective to the specific asset. By no means does it signify that the asset is destined for greatness. Take the Grayscale Decentraland Trust (MANA), for instance.

The key takeaway is that Grayscale's bullish outlook on crypto is evident in its recent product launches. They believe we're currently in a bull market and are positioning themselves accordingly.

Analysis by arjunnchand
Chemzy
11 days ago
Magic Eden, Solana’s leading NFT marketplace by trading volume, has surprised network participants with an unexpected announcement.

On September 5, the crypto juggernaut revealed it would be splitting its trading platform into two separate sites, Magic Eden International and Magic Eden US.

The move has drawn skepticism from the wider community, who speculate that the regulatory landscape in the U.S. could impact user eligibility for Magic Eden’s highly-anticipated airdrop.

MAGIC EDEN'S U.S. USERS FEAR AIRDROP EXCLUSION
In the official announcement, Magic Eden posited that the U.S. site β€œwill still have great products you know and love while .IO [the international site] will give us the ability to cook up (and sautΓ©) even more features…”, suggesting that the U.S. platform will offer a limited range of services compared to its international equivalent.

Magic Eden users have expressed concerns that these limitations could extend to airdrop eligibility. Throughout the year, Solana users based in the United States have frequently found themselves unable to claim tokens due to geographic restrictions.

Due to regulatory concerns and the ongoing scrutiny of the SEC (Securities and Exchanges Commission), many crypto projects, like Sanctum and Grass, avoid distributing airdropped tokens to U.S. users.

Regulatory clarity around NFTs and digital assets were further exacerbated in late August, when the SEC issued a Wells notice to OpenSea, an alternative NFT marketplace.

Claiming that the platform facilitated the sale of unregistered securities, the notice serves as a preliminary warning and often precedes formal legal action.

In what could be considered a tongue-in-cheek gag, the official Magic Eden 𝕏 account also added a playful line to it’s bio, stipulating that β€œTweets are only for non US Residents”.

SolanaFloor engaged the Magic Eden Foundation for clarity sounding the airdrop eligibility of its U.S. users. At press time, the Magic Eden Foundation declined to respond.

$ME TRADES AT.20 DESPITE LACK OF TOKENOMIC CLARITY
Since the initial announcement of the Magic Eden airdrop, pre-market trading for $ME has witnessed volatility. After opening at.08 on August 28, $ME pre-market prices rose as high as.24 before stabilizing at.20.

Despite attracting over $700 ,000 in trading volume, pre-market trading platform Whales Market has been criticized for opening a market for a coin with an unknown supply.

Without any publicly revealed tokenomics, pre-market traders are speculating on $ME at unknown valuations, which could lead to significant losses for participants.

COINGECKO NAMES MAGIC EDEN CRYPTO’S LARGEST NFT MARKETPLACE
Despite 2024’s NFT market suffering challenging conditions and diminishing volumes throughout the year, Magic Eden has managed to reassert its position as the industry’s top marketplace.

Coingecko, a popular cryptocurrency analysis site, recently declared Magic Eden as 2024’s top NFT marketplace. Boasting 36.7% market share, much of Magic Eden’s success this year could be credited to its adoption of the Bitcoin ecosystem, including its integration of Ordinals, BRC-20 tokens, and Runes.
Astro peng
12 days ago
πŸ‡ΊπŸ‡Έ Donald Trump: "Instead of attacking the industries of the future, we will embrace them, including making America the world capital of cryptocurrencies and #Bitcoin ."
Faith
12 days ago
Mercuryo, a Web3 payments provider, has announced the rollout of Spend, a virtual debit card promising to streamline crypto payments.

Complete with Apple Pay and Google Pay compatibility, Spend facilitates payments directly from Solana wallets to over 90M Mastercard merchants across the globe.

WHAT IS SPEND??
Mercuryo’s Spend allows wallet apps to integrate virtual Mastercard debit cards directly into their applications. Through the Spend Card, Mercury promises to enable the crypto community to use their crypto assets to β€œspend on anything. Anytime. Anywhere.”

Spend aims to provide a fast and cost-effective method for crypto users to convert and spend their digital assets from their wallets. Beyond the simplicity of Mastercard, Apple Pay, and Google Pay integration, Spend also offers card customization, meaning wallet providers can incorporate their logos into virtual cards.

Spend is fully self-custodial, meaning users have full control over any assets deposited into the card account. Additionally, the platform offers multi-chain support, including Solana, Ethereum, and PolkaDot.

As part of the announcement, Mercuryo teased that several leading Web3 wallets will be adding Spend in the near future. SolanaFloor engaged Mercuryo for comment on the matter but is yet to receive a response.

Why Web3 Needs Better Off-Ramps
Since the birth of the industry, crypto companies have focused tirelessly on streamlining the flow of funds into decentralized economies. According to Mercuryo, β€œon-ramping is now a user-friendly process, and users can purchase crypto with ease.”

While onboarding has become easier with exchanges and third-party apps readily available, bringing funds back into the real world still poses significant barriers. Mercuryo argues that the biggest struggles facing crypto off-ramping are:

1. Poor UX of existing solutions - Users need to jump through a variety of hoops to withdraw funds. Many platforms are only available in certain regions and popular offboarding platforms offer limited support outside of mainstream cryptos.

2. Bank restrictions - Traditional banks often block payments from crypto-related companies and freeze accounts suspected of interacting with cryptocurrency.

3. Extortionate fees - Third-party apps and intermediaries can charge high fees on crypto-to-fiat withdrawals, discouraging users from transferring funds.

Slow processing times - After becoming accustomed to rapid, permissionless transfers onchain, crypto-to-fiat withdrawals can feel slow and cumbersome.

While the industry loves to discuss and promote progress and efforts toward crypto onboarding, finding seamless methods of getting funds off-chain is equally important.

Mercuryo’s commitment to simplified crypto off-ramps helps to legitimize digital currencies as meaningful financial tools. Through the Spend card, millions of crypto users may be able to enjoy improved access to their funds in real-world contexts, solidifying the role of cryptocurrency in the Web2 world
1Makavelli
12 days ago
Donald Trump says instead of attacking industries of the future, we will embrace them and make the US the β€œCrypto Capital” of the world
Chemzy
13 days ago
WHAT ARE THE BIGGEST OBSTACLES TO DePIN GROWTH??
In a recent appearance at ETHToronto, Frank Mathis highlights the next steps for DePIN’s future.

GenesysGo founder Frank Mathis is no stranger to the highs and lows of crypto’s thriving DePIN sector.

Drawing on his years of experience, Mathis joined other DePIN thought leaders at ETHToronto, including Helium COO Scott Sigel, to discuss the future of the sector.

β€œIf DePIN solves that, DePIN is inevitable”
Like many passionate crypto community members, DePIN advocates staunchly argue that DePIN is inevitable. Speaking to hundreds of crypto enthusiasts at ETHToronto, Mathis offered a refreshing point of view.

The GenesysGo founder argues that value creation for contributors is one of the most integral aspects of running successful DePIN networks. Mathis highlighted that, while DePIN promises to reward contributors as decentralized software scales, β€œit’s shocking how much of that is running on AWS and Google Cloud.”

For example, over 50% of Ethereum node operators are hosted on AWS, Hetzner, and OVH servers.

Reiterating the importance of wealth creation for contributors, Mathis contends β€œwhat DePIN really is, is an attempt to take one of the most centralized layers of the stack and decentralize that amongst the people such that they start to participate in the growth and success of these models.”

GenesysGo’s ShdwDrive is one such example. The decentralized storage solution empowers users to earn $SHDW tokens by providing unused mobile storage to a distributed network, directly generating income from a device that lives in their pocket.

Reflecting the ideal DePIN model proposed by Mathis, network contributors benefit from the growth and success of the platform. The GenesysGo founder reinforced this notion, opining β€œDePIN is only as inevitable as the value that participants in the network get from it… if DePIN solves that, DePIN is inevitable.”

POOR PERFORMANCE β€œONE OF THE BIGGEST FAILINGS OF DePIN”
On paper, the benefits of DePINs are obvious. However, in practice, these platforms often sacrifice performance and scalability in favor of decentralization. While this aids in value creation for contributors and increases security, it actually hamstrings performance and growth.

DePIN is often considered the natural evolution of the sharing economy, which delivered iconic businesses like Uber and Airbnb.

Drawing parallels between the pearls of the sharing economy and emerging DePIN projects, Mathis illustrated that β€œUber became highly successful, not just because you’re able to share in pieces of things you don’t use everyday.. but because it worked well, it was fast, it was easy to use.”

Mathis argues that for DePIN projects to truly take off, they need to rival the performance standards set by centralized industry leaders. Referencing his experience with GenesysGo, the founder posits β€œin our case, our first principle [is] decentralized storage needs to be as fast, as secure, as stable, and perform every bit as well as a traditional Web2 cloud service.”

ABSTRACTION IS KEY
The Web3 user experience has long been considered one of the industry’s biggest obstacles to adoption. The complexities of wallet management and security have discouraged newcomers to space for over a decade, and continue to repel potential users today.

Mathis insists that abstracting the end-user experience away from blockchain technology is key to the success of the industry. Reinforcing this belief, the founder affirms β€œYour end user shouldn’t know that they’re interacting with Web3”

Looking towards the future, Mathis considers DePIN regulation will present a significant obstacle to the sector’s growth. However, instead of taking a chagrined approach to future regulatory concerns, the GenesysGo founder suggests that DePIN projects need to take on some responsibility.
Beverly
14 days ago
Central and Southern Asia Explore Sustainable Alternatives Following Bitcoin Mining Boom
Once a thriving hub for Bitcoin mining, Central and South Asia’s crypto community pivots to more sustainable networks.

While the Wed3 world focuses on international heavyweights like China and the United States, Central and South Asia (CSA) boasts a thriving and diverse crypto economy.

India and Pakistan enjoy some of the highest crypto adoption rates in the world, while cheap energy costs and regulatory clarity made Kazakhstan a Bitcoin mining hub in 2021.

As the crypto community seeks sustainable alternatives, Solana emerges as a prime candidate to support growing adoption in CSA nations.

Central Asia’s Bitcoin Mining Boom
Following the exodus of Bitcoin miners from China in 2021, Central Asian countries like Kazakhstan and Kyrgyzstan played host to huge amounts of crypto mining activity.

Abundant in natural resources, low energy costs, and crypto-friendly laws, the area quickly evolved into a thriving hub Bitcoin mining hub. Crypto mining operations paid as little as.03 per kWh for electricity in Kazakhstan, making it one of the world’s most cost-effective nations for Bitcoin farms.

This led to a surge in crypto adoption rates in Central Asia, with Kazakhstan becoming the world’s second-ranked Bitcoin mining nation in 2021. At its peak in October 2021, Kazakhstan accounted for 18% of the global Bitcoin hashrate. However, Central Asia’s mining utopia couldn’t last forever.

KAZAKHSTAN BITCOIN MINING INDUSTRY OVER TIME

The rising demand for energy put a significant strain on the Central Asian power grid, causing sporadic outages as aging Soviet-era infrastructure struggled to keep up. By May 2023, Kazakhstan’s contribution to the global hashrate had dropped to as low as 4%.

A wrath of regulations have since been implemented to curb crypto mining in Kazakhstan. New mining-specific tax rates have been introduced, and crypto miners in the nation are required by law to sell 75% of their revenue via centralized exchanges.

Meanwhile, neighboring countries like Kyrgyzstan and Uzbekistan are exploring more sustainable energy alternatives, including solar and hydroelectric farms.

IS SOLANA A CONVENIENT SOLUTION Solution?
Courtesy of its hybrid Proof-of-Stake/Proof-of-History consensus mechanism, Solana is one of the most environmentally friendly blockchains in the crypto industry. According to Solana Labs, one transaction requires less energy than a Google search. Additionally, Solana is carbon neutral, having implemented numerous carbon offsetting initiatives.
Astro peng
14 days ago
πŸ”₯ ATTENTIVE πŸ”₯

This sector wants to revolutionize the industry #crypto and decentralization πŸ‘€β€ΌοΈ

The #crypto sector has exploded in recent months, but it still has many problems that limit mass adoption…

But this is about to change ⏳
Astro peng
15 days ago
US Election: Crypto Industry Involvement is MASSIVE! 😱 

βœ… Coinbase: $91 .1 Million
βœ… Ripple: $49 million
βœ… A16Z: $48 .5 million
βœ… Jump: $15 million

It is the only industry that waters both sides, Republicans and Democrats...
Beverly
15 days ago
Continuing to defy the expectations of the wider crypto market, Solana has outperformed digital asset rivals like Bitcoin ($BTC) and Ethereum ($ETH).

During a forgettable week for crypto markets, Solana has bucked the bearish trend, enjoying positive inflows amidst a sea of red.

SOL LEADS WEEKLY INFLOWS ACROSS TOP DIGITAL ASSETS
While much of the crypto market succumbed to bearish forces last week, Solana showed plenty of resilience. According to CoinShares data, Solana digital asset products attracted over $7 .6M in net inflows, outperforming both Bitcoin (-$319M) and Layer 1 rival Ethereum (-$5.7M).

However, despite positive inflows in digital asset products, $SOL price suffered a significant decline. Over the past week, Solana has dropped 15.45%, sliding from $157 .2 to currently exchange hands at $132 .91, based on Step Finance data.

In this sense, Solana has underperformed both $BTC and $ETH , which lost 7.5% and 7.3% respectively over the same period.

The diverging trends highlight a curious dynamic. Despite Solana suffering a more significant price drop than both $BTC and $ETH , institutional inflows for Solana-based digital asset products were positive.

Solana’s favorable performance suggests higher demand from institutional investors and traders, who are taking advantage of turbulent market conditions to establish positions heading into Q4.

Alternatively, the comparatively smaller range of Solana-based products allows for a reduced sample size, which could skew results. The abundance and accessibility of Bitcoin and Ethereum ETFs mean that these assets are likely to witness more consistent trading behavior.

MONTHLY STABLECOIN INFLOWS INCREASE BY 21%
Beyond positive digital asset product inflows, the Solana network also enjoyed increased stablecoin flows.

Having continually grown throughout 2024, Solana’s monthly stablecoin inflows increased by 21%, rising from $371M in July to $449M in August.

The growth indicates a growing desire for greater liquidity onchain. The trend is further supported by an increase in the total value of bridged assets arriving on the Solana network.

According to data provided by deBridge and Artemis, over $345M worth of assets were bridged to Solana from alternative chains, a 23% increase from the $280M bridged in July. August’s bridge traffic included over $279M from Ethereum, the industry’s largest Layer 1 network.

The inflow of capital suggests that investors and traders could be eager to establish positions in both Solana’s thriving DeFi scene and the ecosystem’s native tokens. With increased liquidity arriving onchain, network participants hope that the Solana ecosystem can maintain its bullish trajectory in Q4.
Astro peng
16 days ago
πŸ‡ΈπŸ‡¬ Singapore ranks first in the world in crypto adoption due to its progressive regulatory approach towards the industry.

β€œSingapore is driving cryptocurrency adoption through a supportive banking system, significant investment and comprehensive regulations.”

πŸ‡­πŸ‡° Hong Kong ranks second.

πŸ‡¦πŸ‡ͺ United Arab Emirates in third place.

This is according to the Henley Crypto Adoption 2024 report.
Beverly
21 days ago
WHAT'S NEXT FOR SOLANA’S STRUGGLING RWA SECTOR?

Once touted as one of this cycle’s biggest sectors, RWA has underperformed in recent months. What lies ahead for Solana’s RWA projects?

Despite dominating other Layer 1’s inΒ DePINΒ adoption and a growing number ofΒ DeFiΒ metrics, Solana’s RWA (Real World Assets) ecosystem struggles to keep pace. Promising to bring tangible assets, like real estate, stocks, and precious metals onchain, RWAs are one of crypto’s most popular sectors in 2024.

Compared to rival networks, Solana faces a shortage of native RWA protocols, relying on multi-chain protocols to provide the bulk of onchain TVL (Total Value Locked).

WHAT CAN NETWORK PARTICIPANTS EXPECT FROM SOLANA RWA IN THE REMAINDER OF 2024?

In recent months, uncertainty has plagued market dynamics across the crypto industry. Geo-political tensions and TradFi disruptions have been major sources of volatility in the market. However, while DePIN has weathered turbulent conditions, RWA has struggled to solidify its market position.

According toΒ Artemis data, the RWA has been crypto’s worst-performing sector over the past month. With the weighted average of token FDVs (Fully Diluted Valuation) in the sector down over 28%, RWA has fared even worse than other beleaguered niches, such as memecoins and AI.

RWA’s poor performance in recent months defies market expectations. Prior to the approval of spot Ethereum ETFs in the U.S., traders were optimistic that ETH’s debut in traditional markets would be a boon for RWA projects across the market.

Since then, RWA tokens throughout the industry have struggled, suggesting that the ETH ETF approval may have been a β€˜sell-the-news’ event.

That being said, it should also be noted that the RWA sector has vastly outperformed the market over a longer timeframe. Over the last year, the weighted average of RWA token FDVs has increased by 1,280%, an 883% increase over the average performance of all sectors.What’s Next for Solana’s Struggling RWA Sector?

Once touted as one of this cycle’s biggest sectors, RWA has underperformed in recent months. What lies ahead for Solana’s RWA projects?

Despite dominating other Layer 1’s inΒ DePINΒ adoption and a growing number ofΒ DeFiΒ metrics, Solana’s RWA (Real World Assets) ecosystem struggles to keep pace. Promising to bring tangible assets, like real estate, stocks, and precious metals onchain, RWAs are one of crypto’s most popular sectors in 2024.

Compared to rival networks, Solana faces a shortage of native RWA protocols, relying on multi-chain protocols to provide the bulk of onchain TVL (Total Value Locked).

What can network participants expect from Solana RWA in the remainder of 2024?

RWA Sector Underperforms Amidst Market Turbulence

In recent months, uncertainty has plagued market dynamics across the crypto industry. Geo-political tensions and TradFi disruptions have been major sources of volatility in the market. However, while DePIN has weathered turbulent conditions, RWA has struggled to solidify its market position.

According toΒ Artemis data, the RWA has been crypto’s worst-performing sector over the past month. With the weighted average of token FDVs (Fully Diluted Valuation) in the sector down over 28%, RWA has fared even worse than other beleaguered niches, such as memecoins and AI.

RWA’s poor performance in recent months defies market expectations. Prior to the approval of spot Ethereum ETFs in the U.S., traders were optimistic that ETH’s debut in traditional markets would be a boon for RWA projects across the market.

Since then, RWA tokens throughout the industry have struggled, suggesting that the ETH ETF approval may have been a β€˜sell-the-news’ event.

That being said, it should also be noted that the RWA sector has vastly outperformed the market over a longer timeframe. Over the last year, the weighted average of RWA token FDVs has increased by 1,280%, an 883% increase over the average performance of all secto
Astro peng
23 days ago
πŸ’¬ Justin Sun proposes a DAO to help free Pavel Durov and pledges a million dollars to its creation.

β€œWe should show the unity of the cryptocurrency industry by organizing a DAO #FreePavel to help Telegram founder Pavel Durov legally gain freedom.”

β€œI will donate $1 million if it is created in a decentralized way with enough community support.”

https://x.com/justinsuntro...
Beverly
26 days ago
US presidential candidate Kamala Harris supports policies to expand the crypto industry, campaign adviser reveals

- Bloomberg
Astro peng
1 month ago
πŸ‡ΊπŸ‡Έ The city of Santa Monica, California has added a new β€œBitcoin Office” section to its website.

The mission of the #Bitcoin Office is to identify and facilitate partnerships with the Bitcoin industry to actively support the city's economic recovery and create new employment opportunities.

Santa Monica also emphasizes Proof of Workforce, which aims to provide a comprehensive education on Bitcoin and its role in the modern economy.

https://www.santamonica.go...
Astro peng
1 month ago
βš–οΈ A company specializing in the recovery of funds following scams #crypto , scams its customers.

On August 5, the Department of Homeland Security reported that an investigation by its New York task force had resulted in charges against Michael Lauchlan, who ran Coin Dispute Network (CDN), a fraudulent crypto asset recovery business.

Lauchlan allegedly kept the fees and, in some cases, extracted additional ETH from nearly 175 customers, using false promises and fake blockchain tracing reports.

This is the first time a cryptocurrency recovery site has been shut down by the Manhattan District Attorney's office.

"Michael Lauchlan allegedly exploited his clients' lack of experience in the cryptocurrency industry and in return defrauded them of thousands of dollars in fraudulent services and stolen assets," the investigator said

https://cointelegraph.com/...
Astro peng
1 month ago
🚨 Justin Sun announces the creation of a billion-dollar fund to combat confusion and boost liquidity.

" Don't worry ! The industry has grown significantly over the past year, and this market fluctuation is not due to negative news.
We must reject the rumors and continue to build.
That’s why we’re creating a billion-dollar fund to combat confusion, invest more, and provide liquidity. Β»

https://x.com/justinsuntro...
Funless
1 month ago
Moon or dust?

I choose moon πŸš€
Pokemon
2 months ago
Solana’s favorite no-code token deployer has proven itself the biggest application of the cycle, consistently generating millions in revenue.

Pump.fun, a popular Solana-based token deployment application, is showing no sign of stopping. After celebrating the launch of one million tokens on the platform on June 14, 2024, pump.fun notched 1.5M launches a mere 42 days later on July 25th.

PUMP.FUN GENERATES $85M REVENUE SINCE JANUARY LAUNCH
Consistently generating over $1M in daily revenue, pump.fun has established itself as one of the most valuable crypto apps in terms of revenue generation. In just under seven months since its January 14 launch, pump.fun has generated 520,412 SOL in revenue, currently valued at over $85M

The platform’s viral growth has set an astonishing pace. After a comparatively slow start, pump.fun usage exploded in March and never looked back. On average, 12,679 tokens were launched daily on the platform in July, based on Dune Analytics data.

Off the back of its massive popularity, pump.fun recently crossed the 1.5M token deployment threshold. The no-code token creator is accelerating towards the next significant milestone at 2M launches and is expected to achieve this feat in just under 32 days, if it continues the pace set in July.

In a recent interview with threadguy, a popular crypto influencer, pump.fun co-founder alon credits the platform’s success to its accessibility. Alon argues that pump.fun is the ideal intersection between finance and social media, contending that β€œpump.fun is SocialFi in the most crypto-native way”.

PUMP.FUN RESPONSIBLE FOR 40.97% OF SOLANA DEX TRANSACTIONS
One doesn’t need to look far to see that pump.fun has evolved into one of the most critical applications in Solana’s DeFi ecosystem.

According to Dune Analytics data collected over the past seven days, pump.fun transactions make up approximately 40.97% of all Solana DEX transactions.

However, given that tokens launched on the platform are migrated to Raydium upon reaching a market capitalization of $69 ,000, volumes on the app remain relatively low compared to other decentralized exchanges.

Despite attracting the bulk of Solana DEX transactions, pump.fun’s DEX volume market share continues to hover around 4%, with Raydium being a significant benefactor of pump.fun’s success.

β€œTHE WORST THING THAT EVER HAPPENED TO CRYPTO ” - Alon Responds to Criticism
For many blockchain advocates, pump.fun represents all the worst parts of the industry. Arguing that the proliferation of meme coins on Solana is drawing attention away from serious projects, and delegitimizing the industry.

In response to criticism, alon concedes that β€œpump.fun is the worst thing to happen for crypto for a lot of people”. However, the co-founder argues that the platform has simply β€œuncovered the veil” and exposed β€œcrypto for what it really is”.

Looking ahead, alon posits that the key to continuing pump.fun’s meteoric growth is to β€œleaning into what we’ve already done”.

While not giving away any hints regarding upcoming features on the platform, alon indicated that the pump.fun team was committed to β€œimproving the experience while maintaining the culture that makes it so exciting in the first place.”
THE_GEN
2 months ago
Following a change of heart, the SEC intends to withdraw allegations against certain third-party assets, including SOL, in ongoing Binance Lawsuit.

Altcoin holders across the crypto markets breathed a sigh of relief following a key change in the SEC’s case against Binance, the industry’s largest crypto exchange.

On July 30, 2024, the U.S. Securities and Exchanges Commission indicated its intention to withdraw allegations against third-party crypto assets, including leading altcoins like SOL.

While approval of the SEC’s request means that SOL won’t be classified as a security in the Binance case, the Solana faithful aren’t completely out of the woods just yet.
Chemzy
2 months ago
July 19th’s devastating IT outage left hundreds of businesses across the world scrambling to provide basic services. A software bug that was prematurely pushed to production wrought havoc across the globe, temporarily shutting down banks, airlines, and essential services.

Cryptocurrency may not have been a solution to this particular problem, but the event still exposed the vulnerabilities and flaws of our reliance on centralized infrastructure.

What makes DePINs more resilient than centralized alternatives and why is Solana so well-equipped to support decentralized infrastructure?

SECURITY THROUGH DECENTRALIZATION
One of the fundamental staples of the cryptocurrency industry, decentralization is key to avoiding singular points of failure. Drawing resources and infrastructure from distributed sources makes any entity vastly more robust.

Despite detractors arguing that the network is dangerously centralized, Solana has proven its critics wrong, establishing itself as one of the industry’s most decentralized blockchains. A common and admittedly simplified measure of network decentralization, Solana boasts a Nakamoto Coefficient that surpasses the bulk of its rivals.

However, where Solana gains its edge is through the development of alternative validator clients. Barring Ethereum, most Layer One blockchains rely on one sole validator client. Ironically, if a software bug was pushed to production, as was the case with the CrowdStrike outage, these blockchains could also fall victim to a complete network outage.

On the other hand, Solana is on track to eliminate this vulnerability. The network currently hosts two independent validator clients. Solana’s network resilience will go to new heights with the deployment of Jump Crypto’s Firedancer client, which completely rewrites the network into a different programming language from scratch, eliminating the risk of one bug affecting various clients.

Not only is Solana becoming more decentralized by the day, but the network’s thriving DePIN sector is witnessing unrivaled adoption.

SOLANA LEADS REAL WORLD DePIN ADOPTION
Crypto’s DePIN sector is vague. Despite deploying zero infrastructure and offering no proof-of-concept, hundreds of different projects are categorized as DePIN protocols by various blockchain data sites.

For example, CoinMarketCap’s DePIN category features over 140 different DePIN projects but includes Layer 1 blockchains like Internet Computer (ICP). DePinScan, a research tool operated by IoTeX, lists 262 DePin cryptocurrency projects. Other resources, like EV3’s depin.ninja platform, suggests over 300 DePIN protocols are being built on Ethereum alone.

With such ambiguity surrounding what defines a DePIN network, how can we track the manner in which DePINs are actually being deployed and used?

Physical Infrastructure. Among hundreds of supposed DePIN projects, which protocols can individuals see first-hand through real-world devices or Proof-of-Concept?

According to EV3, Solana-based projects dominate their competitors in terms of active node deployments, with projects like Helium, Hivemapper, and Natix each operating hundreds of thousands of devices.

Courtesy of its unmatched scalability and performance, the Solana network is a natural choice for businesses looking to deploy DePINs. In the current blockchain landscape, no other blockchain is adequately equipped to support the data transmission of hundreds of thousands of devices without suffering debilitating latency issues and gas spikes.

Additionally, Solana benefits from the widespread use of mobile devices. Solana Saga, the network’s Web 3 phone, sold out following a collaboration with BONK and the second iteration has been preordered over 140,000 times.

With the future of the internet expected to be driven by mobile-first usage, the Solana network is ideally placed to establish itself as the leading chain for DePIN protocols.
Astro peng
2 months ago
πŸ“Š Survey reveals that 75% of crypto holders in the United States will consider candidates' positions on cryptocurrencies when voting in the November election.

One in five Americans own crypto, according to Gemini's survey, which will be released in full in September.

38% of Americans who don't own cryptocurrency say concerns about how laws apply to the industry have discouraged them from getting involved.

https://www.theblock.co/po...
Astro peng
2 months ago
πŸ‡ΊπŸ‡Έ Kamala Harris campaign advisors have reportedly contacted key players in the crypto industry such as Coinbase, Circle and Ripple Labs to establish a regulatory framework.

https://fortune.com/crypto.../
Mello
2 months ago
Daily Memecoin Recap - July 22

The main thing to keep an eye on is the situation regarding JoeBiden
πŸ‘€

Rumours That President Biden Has Passed Away
$boden -> $5 .45m to $21 .8m (3.99x)
$bidead -> hit $2m
$ghostbiden -> hit $1 .4m, "Ghost Biden", CTO
$byeden -> hit $1m , new launch (there's already an older one)
$rip -> hit $650k
$alive -> hit $280k , good gamble alternative play
$joevid19 -> hit $256k
$bidone -> hit $250k

Kabooty Goes Crazy
$KaBooty -> $63k to $5 .1m (75x),

Elon Musk Meta
$laser -> $191k to $5 .4m (28x), based on elonmusk's new pfp
$mag -> hit $2 .5m, "Make America Greater", Trump + Elon

Popcat Dev "CTO's" Another Popcat
$popcat -> $170k to $1m (5.88x)

Hyped Launches
$bill -> $20m to $42 .7m (2.13x), "Bill The Bear", continues to push
$blue -> hit $51m , launched by inBetweeners
$solympics -> hit $1 .95m
$q -> hit $800k

Cat Memes
$hehe -> $12 .2m to $26 .2m (2.15x), strong push today
$ily -> $1m to $7 .4m (7.4x), good CTO team
$bigi -> $864k to $4 .99m (4.61x), CTO with lots of KOLs onboard, got CTO'd as $mini derivative
$quant -> $235k to $4 .56m (19.8x), thesis cat
$tard -> $1 .6m to $4 .5m (2.81x), CTO
$lumi -> hit $1 .8m, Illuminati Cat, CTO
$hello -> hit $370k , travelling cat

Zoomer Memes
$alpha -> hit $1 .35m
$fries -> hit $940k , "just put my fries in the bag bro", popular twitter meme (good meme), CTO
$rtr -> hit $920k , "rugs to riches", good name
$gyatt -> hit $597k

Other Plays
$scf -> $46k to $4 .6m (100x), "Smoking Chicken Fish"
$scrbly -> $27k to $1m (37x), drawing of a dog
$shiby -> hit $2 .7m, CTO
$solana -> hit $520k , HarryPotterTrumpSonic69Inu
$sad -> hit $356k
$pierre -> hit $330k , "sacrΓ© bleu", french oriented meme
$dust -> hit $325k , cause your positions turn into dust

News plays are some of the most profitable for traders that position themselves appropriately

Keep on scanning
Mello
2 months ago
Learn to take losses

Too many people hold bags to 0

1. Learn how to read a chart & place stop losses based on technical analysis
2. Learn how to read volume
3. Learn how to know when top holders are selling

Putting all these aspects together will help you save a lot of capital in the long run

Not every trade should turn into dust

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