6 days ago
Imagine hating me but reading every few weeks/months that a corrupt police force find and steal from me MORE MONEY than you’ll make in your entire life.
Then tweeting that I’m poor “this time”.
😅😅.
Nobody can ever imagine how hilarious I find this.
Then tweeting that I’m poor “this time”.
😅😅.
Nobody can ever imagine how hilarious I find this.
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 “spend 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, “on-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
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 “spend 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, “on-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
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.
“If 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, “it’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 “what 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 “DePIN is only as inevitable as the value that participants in the network get from it… if DePIN solves that, DePIN is inevitable.”
POOR PERFORMANCE “ONE 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 “Uber 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 “in 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 “Your 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.
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.
“If 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, “it’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 “what 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 “DePIN is only as inevitable as the value that participants in the network get from it… if DePIN solves that, DePIN is inevitable.”
POOR PERFORMANCE “ONE 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 “Uber 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 “in 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 “Your 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.
18 days ago
Daily Memecoin Recap - August 29
Market's waiting for a catalyst - there currently isn't a meta
6ix9ine Launch
$trolli -> hit $20 .9m
- 6ix9ine has been engaging with crypto twitter for the last couple of days
- He's joined the retardio community and has opened a tg channel
Mbappe Hacked
$mbappe -> hit $320m
- KMbappe's twitter was hacked
- The exploiter made a bunch of tweets and eventually tweeted a CA
- Someone 1 clip bought $1 ,000,000 worth and is down 95%+
Snoofi Comes Back To Life
$snoofi -> $2 .9m to $17 .9m (6.2x from the low)
- Reddit dog
- Community keeps getting stronger
- Dexscreener added a "reddit" button
NFT Collection Coins
$chungo -> hit $230k
$clown -> hit $230k , "Amphiprion ocellaris", fish meme
Dog Memes
$chua -> hit $1 .2m, $wdog team CTO, cute dog, "jotchua"
$def -> hit $475k , "Default Dog", blank picture of a dog
Cat Memes
$keycat -> $1m to $3 .7m (3.7x), viral meme, ATH $7m
$hmu -> $75k to $1 .3m (17x), "hit me up", coin that launched in July, randomly got CTO'd today, ATH is $3 .3m
$poor -> hit $615k , "wife wants a divorce", cat meme
Matt Furie Coins
$vix -> hit $645k
$brotty -> hit $500k , hyped launch, $brett as a robot
More Cooks
$art -> hit $2 .4m
$pac -> hit $1 .45m, "Photorealistic Autism Creature"
What did you hit today? 🤔
Market's waiting for a catalyst - there currently isn't a meta
6ix9ine Launch
$trolli -> hit $20 .9m
- 6ix9ine has been engaging with crypto twitter for the last couple of days
- He's joined the retardio community and has opened a tg channel
Mbappe Hacked
$mbappe -> hit $320m
- KMbappe's twitter was hacked
- The exploiter made a bunch of tweets and eventually tweeted a CA
- Someone 1 clip bought $1 ,000,000 worth and is down 95%+
Snoofi Comes Back To Life
$snoofi -> $2 .9m to $17 .9m (6.2x from the low)
- Reddit dog
- Community keeps getting stronger
- Dexscreener added a "reddit" button
NFT Collection Coins
$chungo -> hit $230k
$clown -> hit $230k , "Amphiprion ocellaris", fish meme
Dog Memes
$chua -> hit $1 .2m, $wdog team CTO, cute dog, "jotchua"
$def -> hit $475k , "Default Dog", blank picture of a dog
Cat Memes
$keycat -> $1m to $3 .7m (3.7x), viral meme, ATH $7m
$hmu -> $75k to $1 .3m (17x), "hit me up", coin that launched in July, randomly got CTO'd today, ATH is $3 .3m
$poor -> hit $615k , "wife wants a divorce", cat meme
Matt Furie Coins
$vix -> hit $645k
$brotty -> hit $500k , hyped launch, $brett as a robot
More Cooks
$art -> hit $2 .4m
$pac -> hit $1 .45m, "Photorealistic Autism Creature"
What did you hit today? 🤔
20 days ago
BIG SUPPLY, BIG PROBLEMS AS SOLANA’S NFT MARKET REJECTS LARGE COLLECTIONS
Fresh minting mechanics are bringing greater security to Solana NFTs, but new mints and large collections struggle to garner attention and are trading below mint price.
New NFT collections have learned a painful lesson this week. If it wasn’t obvious due to stagnant floor prices and diminishing trade volume, launching a fresh collection in these conditions is a difficult task.
Despite commentators claiming these hyped collections will usher in a “new era” and whitelist spots selling at over $50 apiece on open markets, launches from Pathfinders and Hermans have failed to meet expectations.
Will Solana’s NFT market ever witness another successful 10,000 NFT collection? Or are small supplies the only way of conserving value?
ONLY 21% OF PATHFINDER'S RISK-FREE NFTs MINTED
Despite proposing a new, risk-free method of launching Solana NFTs, the Pathfinders collection faces difficulty minting out. At press time, only 2,125/10,000 NFTs have been minted, falling well short of expectations.
Pathfinder’s novel LST-backed NFT collection launched with noble intentions. Providing an alternative mechanic that aims to protect minters, the collection has launched Solana’s first un-ruggable NFTs.
Unlike standard NFT mints, Pathfinders NFTs are minted using pathSOL, the project’s native liquid staking token. Holders reserve the right to redeem their NFT for the underlying pathSOL used to mint the asset, essentially securing the NFT’s value at a minimum of 2pathSOL.
Regardless, Solana’s NFT community has largely ignored the project’s novel approach to minting. Supporters of the new mechanic took to social media to express their disappointment with the NFT community’s apparent apathy.
Commentators noted that network participants have collectively poured thousands of SOL into extractive and malicious actors, but are unwilling to support builders providing meaningful alternatives.
‘Hyped’ New Mint Immediately Under Floor - Are Presales to Blame?
Boasting a sold-out presale that constituted 55% of the total supply, the Hermans NFT collection suffered a similar fate. Priced at 1.5 SOL per NFT, Hermans struggled to attract interest during the public mint, forcing the team to take drastic action.
Hermans trading on secondary marketplaces like Tensor and Magic Eden was locked until the mint was complete, meaning holders were unable to list their assets. The team took it upon themselves to buy all unminted assets. The Hermans’ treasury now holds over 1,600 NFTs, roughly 33% of the supply.
Almost immediately, the collection began trading beneath mint price as presales and regretful minters clamored to liquidate their holdings for SOL. Hermans currently exchange hands at 0.84 SOL, down 44% from the original mint price.
While poor NFT market conditions are a significant contributor to the recent slew of disappointing NFT launches, social media commentators have argued that NFT presales are also to blame.
Low Supply NFT Collections Retain Value
In recent years, NFT markets have witnessed countless large supply collections suffer devastating downtrends.
Top Solana collections like Mad Lads, Tensorians (pictured), and Claynosaurs have all endured significant drawdowns, while dozens of less-resilient projects have effectively plummeted to zero.
Comparatively, low supply and 1/1 NFT collections have retained their value remarkably well. Limited supply art collections like Boogles, Dead King Society, and The SixNine are typically only available through OTC deals and have maintained comparatively stable floors, regardless of SOL price fluctuations.
Arguably, this suggests that the most valuable utility NFTs offer is access to exclusive communities. Alternatively, it could also indicate that low-supply collections with low market liquidity create an elite sense of perceived value, which has supported the valuations of these co
Fresh minting mechanics are bringing greater security to Solana NFTs, but new mints and large collections struggle to garner attention and are trading below mint price.
New NFT collections have learned a painful lesson this week. If it wasn’t obvious due to stagnant floor prices and diminishing trade volume, launching a fresh collection in these conditions is a difficult task.
Despite commentators claiming these hyped collections will usher in a “new era” and whitelist spots selling at over $50 apiece on open markets, launches from Pathfinders and Hermans have failed to meet expectations.
Will Solana’s NFT market ever witness another successful 10,000 NFT collection? Or are small supplies the only way of conserving value?
ONLY 21% OF PATHFINDER'S RISK-FREE NFTs MINTED
Despite proposing a new, risk-free method of launching Solana NFTs, the Pathfinders collection faces difficulty minting out. At press time, only 2,125/10,000 NFTs have been minted, falling well short of expectations.
Pathfinder’s novel LST-backed NFT collection launched with noble intentions. Providing an alternative mechanic that aims to protect minters, the collection has launched Solana’s first un-ruggable NFTs.
Unlike standard NFT mints, Pathfinders NFTs are minted using pathSOL, the project’s native liquid staking token. Holders reserve the right to redeem their NFT for the underlying pathSOL used to mint the asset, essentially securing the NFT’s value at a minimum of 2pathSOL.
Regardless, Solana’s NFT community has largely ignored the project’s novel approach to minting. Supporters of the new mechanic took to social media to express their disappointment with the NFT community’s apparent apathy.
Commentators noted that network participants have collectively poured thousands of SOL into extractive and malicious actors, but are unwilling to support builders providing meaningful alternatives.
‘Hyped’ New Mint Immediately Under Floor - Are Presales to Blame?
Boasting a sold-out presale that constituted 55% of the total supply, the Hermans NFT collection suffered a similar fate. Priced at 1.5 SOL per NFT, Hermans struggled to attract interest during the public mint, forcing the team to take drastic action.
Hermans trading on secondary marketplaces like Tensor and Magic Eden was locked until the mint was complete, meaning holders were unable to list their assets. The team took it upon themselves to buy all unminted assets. The Hermans’ treasury now holds over 1,600 NFTs, roughly 33% of the supply.
Almost immediately, the collection began trading beneath mint price as presales and regretful minters clamored to liquidate their holdings for SOL. Hermans currently exchange hands at 0.84 SOL, down 44% from the original mint price.
While poor NFT market conditions are a significant contributor to the recent slew of disappointing NFT launches, social media commentators have argued that NFT presales are also to blame.
Low Supply NFT Collections Retain Value
In recent years, NFT markets have witnessed countless large supply collections suffer devastating downtrends.
Top Solana collections like Mad Lads, Tensorians (pictured), and Claynosaurs have all endured significant drawdowns, while dozens of less-resilient projects have effectively plummeted to zero.
Comparatively, low supply and 1/1 NFT collections have retained their value remarkably well. Limited supply art collections like Boogles, Dead King Society, and The SixNine are typically only available through OTC deals and have maintained comparatively stable floors, regardless of SOL price fluctuations.
Arguably, this suggests that the most valuable utility NFTs offer is access to exclusive communities. Alternatively, it could also indicate that low-supply collections with low market liquidity create an elite sense of perceived value, which has supported the valuations of these co
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 in DePIN adoption and a growing number of DeFi 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 to 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 ‘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 in DePIN adoption and a growing number of DeFi 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 to 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 ‘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
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 in DePIN adoption and a growing number of DeFi 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 to 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 ‘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 in DePIN adoption and a growing number of DeFi 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 to 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 ‘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
26 days ago
💬 “HOW MUCH is 1,000 billion?
1,000 billion seconds is 31,688 years.
America is going into debt to the tune of a billion dollars every 100 days.
Now you know why you should buy gold, silver and Bitcoin?
Robert Kiyosaki, author of "Rich Dad Poor Dad", speaks out once again on X about #Bitcoin
https://x.com/therealkiyos...
1,000 billion seconds is 31,688 years.
America is going into debt to the tune of a billion dollars every 100 days.
Now you know why you should buy gold, silver and Bitcoin?
Robert Kiyosaki, author of "Rich Dad Poor Dad", speaks out once again on X about #Bitcoin
https://x.com/therealkiyos...
1 month ago
⛏️ Bitcoin miners could earn $13 .9 billion per year by shifting 20% of their power supply to AI and high-performance computing (HPC).
This is what emerges from the VanEck report.
“AI companies need energy, and Bitcoin miners have it.”
"Bitcoin miners typically have poor balance sheets, either because of excessive debt, too much equity issuance, too much executive compensation, or a combination of the three."
https://cointelegraph.com/...
This is what emerges from the VanEck report.
“AI companies need energy, and Bitcoin miners have it.”
"Bitcoin miners typically have poor balance sheets, either because of excessive debt, too much equity issuance, too much executive compensation, or a combination of the three."
https://cointelegraph.com/...
1 month ago
When people poorer and less important than me block me I don’t give a shit.
With this in mind let me assure you,.. elonmusk
won’t lose any sleep over this #BlockMusk campaign.
He doesn’t read most of our pages anyway.
With this in mind let me assure you,.. elonmusk
won’t lose any sleep over this #BlockMusk campaign.
He doesn’t read most of our pages anyway.
1 month ago
📊 Weekly Outlook August 5-9:
Fears of global recession, US markets slip over weakening economic data 📉 #GlobalRecession #USMarkets
😬 News/Sentiment:
• Fears of global recession
• US markets slip over weakening economic data
• Pessimism over Middle east tensions
• Rumors of Jump Trading shutting down crypto operations
• 78% probability of 50bps cut in September 📉
• BofA believe employment numbers are over exaggerated
• Sahm rule triggered; 10/11 chance of recession in 4 months 📊
• Poor earnings, negative revisions and general pessimist outlook for earning season
• Harris' recent success in polls having negative impact on cryptos
• Yen-dollar carry trades unwinding, negatively affecting global markets 📉 #YenDollar #CarryTrades
📅 Events This Week (cont.):
•Tue: AUD: Interest rate decision and monetary policy statement, US: Fed GDP now #AUDRate #FedeGDP
•Wed: US: Consumer Credit report
•Thu: India: Interest rate Decision, US: Jobless claims, Fed Balance Sheet #ConsumerCredit #IndiaRate
😬 Risk Appetite:
• AAII sentiment: 7% off 1 year bullish high (as of last week)
• Market fear/greed = 19
• Market breadth = fear
• Put/call = extreme fear
• Junk bond vs investment grade = extreme fear
• Crypto fear/greed = 26
•High yield bond prem. = 3.72%
📊 Market Breadth:
• Percentage of $SPX stocks above 200D MA: = 55% (Decrease from last week)
• Percentage of $SPX stocks above 50D MA: = 49% (Decrease from last week)
• Percentage of $SPX stocks above 20D MA: = 30% (decrease from last week)
• NASDAQ new highs - new lows = -90
• SPY 52 week highs - 52 week lows =-291
• SPY New highs - New lows = Monthly 44 ; Weekly 4
Fed rate monitor tool = 95% probability of 25bps cut next meeting, 78% chance of 50bps (September 18th)
Fears of global recession, US markets slip over weakening economic data 📉 #GlobalRecession #USMarkets
😬 News/Sentiment:
• Fears of global recession
• US markets slip over weakening economic data
• Pessimism over Middle east tensions
• Rumors of Jump Trading shutting down crypto operations
• 78% probability of 50bps cut in September 📉
• BofA believe employment numbers are over exaggerated
• Sahm rule triggered; 10/11 chance of recession in 4 months 📊
• Poor earnings, negative revisions and general pessimist outlook for earning season
• Harris' recent success in polls having negative impact on cryptos
• Yen-dollar carry trades unwinding, negatively affecting global markets 📉 #YenDollar #CarryTrades
📅 Events This Week (cont.):
•Tue: AUD: Interest rate decision and monetary policy statement, US: Fed GDP now #AUDRate #FedeGDP
•Wed: US: Consumer Credit report
•Thu: India: Interest rate Decision, US: Jobless claims, Fed Balance Sheet #ConsumerCredit #IndiaRate
😬 Risk Appetite:
• AAII sentiment: 7% off 1 year bullish high (as of last week)
• Market fear/greed = 19
• Market breadth = fear
• Put/call = extreme fear
• Junk bond vs investment grade = extreme fear
• Crypto fear/greed = 26
•High yield bond prem. = 3.72%
📊 Market Breadth:
• Percentage of $SPX stocks above 200D MA: = 55% (Decrease from last week)
• Percentage of $SPX stocks above 50D MA: = 49% (Decrease from last week)
• Percentage of $SPX stocks above 20D MA: = 30% (decrease from last week)
• NASDAQ new highs - new lows = -90
• SPY 52 week highs - 52 week lows =-291
• SPY New highs - New lows = Monthly 44 ; Weekly 4
Fed rate monitor tool = 95% probability of 25bps cut next meeting, 78% chance of 50bps (September 18th)
3 months ago
Daily Memecoin Recap - July 3
Majors are struggling, most coins are topping before $200k
When $btc (& $sol ) moon, we'll get more runners
America's Independence Day Tomorrow - 4th of July
$sam -> hit $1 .6m, CTO
$awif -> hit $620k , American $wif
Redacted Politicians
$kama -> $6 .9m to $22m (3.18x), redacted KamalaHarris, good team
$bernie -> $520k to $2 .84m (5.46x), redacted BernieSanders
Khamzat Posts CA
$smash -> hit $15m ,
- The coin has been out for over 24h
- People were already expecting that it would be this
- When he posted the CA, price wicked to $15m +, but immediately dumped back down
- There was not much hype since the coin was already out = no speculation
Sage Launch
$sage -> hit $51m , liquidity was pulled
- There were a couple other fake coins that ran to $500k +
- CryptoSage26 never actually posted a CA
- Some threads are coming out saying that this was intended to be the real coin, but they decided to pull liquidity when things didn't go as planned
Walter Deal
$walter -> $2 .2m to $8 .7m (3.95x)
- Agreement announced between Walter's owner PupperNelson & WalterDogSolana
Mao Wants More
$mao -> $2 .4m to $9 .5m (3.95x), CTO
Dog Memes
$billy -> $80m to $140m (1.75x), overtakes $michi in market cap, Ansem rumored to have bought multiple 6 figs
$lulo -> hit $1 .9m, CTO
$bull -> hit $900k , CTO
$winny -> hit $600k , same dev as $subo , which hit $8m
$barny -> hit $500k , CTO
$inu -> hit $500k
Other Cooks
$dragon -> hit $13 .9m, heavily bundled
$bbq -> hit $460k
Only risk what you're comfortable losing
Market conditions are poor = more rugs = tighten your risk measure
Majors are struggling, most coins are topping before $200k
When $btc (& $sol ) moon, we'll get more runners
America's Independence Day Tomorrow - 4th of July
$sam -> hit $1 .6m, CTO
$awif -> hit $620k , American $wif
Redacted Politicians
$kama -> $6 .9m to $22m (3.18x), redacted KamalaHarris, good team
$bernie -> $520k to $2 .84m (5.46x), redacted BernieSanders
Khamzat Posts CA
$smash -> hit $15m ,
- The coin has been out for over 24h
- People were already expecting that it would be this
- When he posted the CA, price wicked to $15m +, but immediately dumped back down
- There was not much hype since the coin was already out = no speculation
Sage Launch
$sage -> hit $51m , liquidity was pulled
- There were a couple other fake coins that ran to $500k +
- CryptoSage26 never actually posted a CA
- Some threads are coming out saying that this was intended to be the real coin, but they decided to pull liquidity when things didn't go as planned
Walter Deal
$walter -> $2 .2m to $8 .7m (3.95x)
- Agreement announced between Walter's owner PupperNelson & WalterDogSolana
Mao Wants More
$mao -> $2 .4m to $9 .5m (3.95x), CTO
Dog Memes
$billy -> $80m to $140m (1.75x), overtakes $michi in market cap, Ansem rumored to have bought multiple 6 figs
$lulo -> hit $1 .9m, CTO
$bull -> hit $900k , CTO
$winny -> hit $600k , same dev as $subo , which hit $8m
$barny -> hit $500k , CTO
$inu -> hit $500k
Other Cooks
$dragon -> hit $13 .9m, heavily bundled
$bbq -> hit $460k
Only risk what you're comfortable losing
Market conditions are poor = more rugs = tighten your risk measure
3 months ago
We're still in the early days of bitcoin. With all the positive economic announcements around bitcoin, its acceptance as a currency, big whales buying through institutions.
History repeats itself again and again, the rich eat first, the poor eat last. For those here today in crypto, building a great empire while people around you are telling you to stop because it's dangerous, it's going to go 0
Of course, stay unemployed and we'll see who needs help in the not too distant future.
History repeats itself again and again, the rich eat first, the poor eat last. For those here today in crypto, building a great empire while people around you are telling you to stop because it's dangerous, it's going to go 0
Of course, stay unemployed and we'll see who needs help in the not too distant future.
3 months ago
Daily Memecoin Recap - June 27
The market is still struggling to find a concrete meta
In this market, the key is to adapt & be versatile
Trump vs Biden Debate
$usa -> $16 .6m to $43m (2.6x from the low)
$usacto -> hit $3m , "America CTO"
$bboden -> hit $583k , POTUS as a redacted baby
$joever -> hit $550k , "It's Joever"
$sloe -> hit $450k , "Sloppy Joe"
Gavin Newsom Replacing Joe Biden
$noosum -> $1 .1m to $9 .2m (8.36x), redacted Newsom
$newsum -> $440k to $3 .4m (7.7x), another redacted Newsom
$newsom -> $91k to $2 .3m (25.5x)
- After Joe Biden's poor performance, people are saying that democrats should replace him with GavinNewsom
Viral Meme "Daddy Chill" Launch
$chill -> hit $4 .75m,
Amber Rose Launch
$muva -> hit $8 .3m,
Kimi Reaches $300m +
$kimi -> hit $330m , heavily bundled, launched on pumpdotfun
$kimi -> hit $1m , "KIMI-burn"
Cat Memes
$sc -> $3 .5m to $9 .9m (2.82x), "Star Cat", strong CTO
$bobby -> $1 .4m to $6 .6m (4.71x), CTO
$tiny -> hit $1 .7m, dev is doxxed, using his own cat
Dog Memes
$spot -> hit $1 .8m, 180+ people in vc
$bullseye -> hit $470k , "Target Dog", CTO
Long-Term Cooks
$popcat -> $220m to $625m (2.84x from the low)
$ponke -> $131m to $232 .9m (1.77x from the low)
$michi -> $44m to $155m (3.52x from the low)
More Plays
$aura -> $4 .9m to $11m (2.24x), good team
$spike -> $595k to $1 .8m (3x), another $spike launched which seemed like a honeypot, people bought into the OG spike for a bounce
$moonwif -> $120k to $420k (3.5x), launched on dexscreener's moonshot
$otty -> hit $1 .8m, Otter Meme, CTO
CTO's are a meta in & of itself.
Most of these CTO coins would not have pumped as much if the dev never sold
The market is still struggling to find a concrete meta
In this market, the key is to adapt & be versatile
Trump vs Biden Debate
$usa -> $16 .6m to $43m (2.6x from the low)
$usacto -> hit $3m , "America CTO"
$bboden -> hit $583k , POTUS as a redacted baby
$joever -> hit $550k , "It's Joever"
$sloe -> hit $450k , "Sloppy Joe"
Gavin Newsom Replacing Joe Biden
$noosum -> $1 .1m to $9 .2m (8.36x), redacted Newsom
$newsum -> $440k to $3 .4m (7.7x), another redacted Newsom
$newsom -> $91k to $2 .3m (25.5x)
- After Joe Biden's poor performance, people are saying that democrats should replace him with GavinNewsom
Viral Meme "Daddy Chill" Launch
$chill -> hit $4 .75m,
Amber Rose Launch
$muva -> hit $8 .3m,
Kimi Reaches $300m +
$kimi -> hit $330m , heavily bundled, launched on pumpdotfun
$kimi -> hit $1m , "KIMI-burn"
Cat Memes
$sc -> $3 .5m to $9 .9m (2.82x), "Star Cat", strong CTO
$bobby -> $1 .4m to $6 .6m (4.71x), CTO
$tiny -> hit $1 .7m, dev is doxxed, using his own cat
Dog Memes
$spot -> hit $1 .8m, 180+ people in vc
$bullseye -> hit $470k , "Target Dog", CTO
Long-Term Cooks
$popcat -> $220m to $625m (2.84x from the low)
$ponke -> $131m to $232 .9m (1.77x from the low)
$michi -> $44m to $155m (3.52x from the low)
More Plays
$aura -> $4 .9m to $11m (2.24x), good team
$spike -> $595k to $1 .8m (3x), another $spike launched which seemed like a honeypot, people bought into the OG spike for a bounce
$moonwif -> $120k to $420k (3.5x), launched on dexscreener's moonshot
$otty -> hit $1 .8m, Otter Meme, CTO
CTO's are a meta in & of itself.
Most of these CTO coins would not have pumped as much if the dev never sold
