Latest Solana News

Solana Mobile, a subsidiary of Solana Labs, revealed at the Token 2049 conference that they are set to release their second crypto phone, named Seeker, in 2025. This new handheld device will boast significant hardware upgrades compared to its predecessor, the Saga. Emmet Hollyer, the head of Solana Labs' phone project, highlighted that Seeker will feature improvements such as a better battery, a stronger camera, and a lighter design. Additionally, Seeker will come equipped with a specialized crypto wallet integrated with the device's Seed Vault key storage, allowing users to conduct crypto transactions more efficiently than on the Saga. Seeker's development marks Solana's continued investment in merging crypto technology with mobile devices. Following the success of the Saga, which was rescued from poor sales by the allure of token airdrops, Solana Mobile received substantial pre-orders in early 2024, paving the way for the creation of Seeker. The new phone will maintain the Android platform and a dedicated app store for crypto developers within the Solana ecosystem, enhancing the user experience and expanding the reach of decentralized applications.

Borderless Capital, a leading Web3 investment manager, has announced the launch of its third DePIN-focused fund, a $100 million fund dedicated to accelerating the growth and development of Decentralized Physical Infrastructure Networks (DePIN). The fund is backed by prominent investors like peaq, Solana Foundation, Jump Crypto, IoTeX, GSR, and others. DePIN is revolutionizing the construction and maintenance of physical infrastructure by leveraging blockchain technology and token incentives. This decentralized approach allows for the creation of various applications, such as connectivity networks and GPU clusters, more efficiently and cost-effectively than traditional Web 2.0 models. Notably, the Helium Network and GEODNET showcase the rapid growth potential of DePIN in deploying IoT antennas and RTK networks on a large scale. Borderless Capital's Partner, Álvaro Gracia, expressed confidence in DePIN's transformative potential within the Web3 space, emphasizing its role in setting global standards for deploying physical infrastructure and generating passive income while enhancing user accessibility and reducing costs.

There is a growing interest in Solana DePIN projects, with many seeing it as the next big thing in the crypto world. These projects enable the tokenization of tangible assets such as cellular networks, cloud storage, and computer processing power. The DePIN market has experienced significant growth, currently valued at $20 billion, marking a 400% increase in the past year. Surpassing 300% growth, DePIN has become one of the most profitable sectors in the crypto industry, second only to real-world assets (RWA). The value of DePIN on Solana has exceeded $4 billion, attracting both individual users and companies as AI and machine learning gain popularity. **The Appeal of Solana for DePIN Projects** Solana stands out for DePIN projects due to its speed, cost-effectiveness, and robust infrastructure. Its ability to process transactions quickly and at lower costs compared to other blockchains makes it an attractive choice for DePIN initiatives. The ease of system installation, high speed, and expanding user base further contribute to Solana's popularity among DePIN projects. Let's delve into some notable DePIN projects on Solana: 1. **Render Network**: Render is a decentralized GPU rendering network that migrated to Solana for its speed and cost efficiency. Introducing features like the Render Network Cinema 4D Wizard, which streamlines designers' workflows by supporting native C4D files, Render is also part of Grayscale's Decentralized AI Fund, highlighting its significance in AI. 2. **Get Grass**: This decentralized network leverages unused Internet computing power for web scraping, converting data into AI datasets. With over 2 million users globally, Get Grass launched the Desktop Node and initiated an airdrop, distributing 10% of its total token supply. 3. **Kuzco**: Focused on scalable and cost-effective machine learning, Kuzco operates a decentralized GPU cluster on Solana for LLM inference. Since its launch, Kuzco has experienced remarkable growth, expanding its online GPUs to 11.3K and significantly increasing daily points completed. 4. **Ionet**: Partnering with Chainbase, Ionet enhances its omnichannel data network for AI modeling advancements, aiming to elevate the capabilities of AI applications.

DePIN company IoTeX has launched its Solana Bridge, aiming to enhance interoperability between the IoTeX and Solana ecosystems. This bridge, leveraging IoTube Bridge Architecture, enables asset transfers and data sharing, fostering collaboration and broader engagement. With a recent funding round of $50 million, IoTeX is focused on accelerating ecosystem growth, following previous initiatives like W3bstream and ioTube to strengthen its position in the DePIN sector. **How Solana Bridge Works** The Solana Bridge by IoTeX connects the two major DePIN platforms, facilitating cross-chain transfers and expanding the reach of Solana DePIN projects. Utilizing IoTube Bridge Architecture, the bridge ensures secure transactions through a two-thirds witness signature consensus mechanism. It supports elliptic curve signatures for different transfers, enhancing interoperability and accessibility for both ecosystems. **Previous DePIN Projects** IoTeX's latest development, the Solana Bridge, builds on the integration of W3bstream into the Solana ecosystem. W3bstream, a Layer-2 protocol for decentralized data processing, enhances scalability and performance by offloading data processing from the main blockchain. With a focus on data integrity and trust, W3bstream is valuable for applications like supply chain management and IoT, reinforcing IoTeX's role as a central platform for DePIN and expanding its ecosystem.

DePIN, with a market value of around $20 billion, is a rapidly growing sector in the crypto space. Despite the sector's fast expansion, there are still promising opportunities available. Here are three DePIN altcoins worth considering: 1) Large Cap: Render ($RENDER) Render is a major DePIN project known for its fully distributed network of GPU computing power, specifically designed for rendering images using AI programs. Recently rebranded from $RNDR to $RENDER and migrated to Solana for faster transactions and lower fees, Render has shown resilience in the market. With a 315% increase in the last 12 months, Render remains a strong contender in the DePIN space. 2) MidCap: OriginTrail ($TRAC) OriginTrail focuses on decentralized AI and truth verification, particularly in supply chains and manufacturing. Its innovative solutions for transparency and safety have garnered attention from industries like UK Customs and Swiss Federal Railways. Despite a 35% decrease in the last 3 months, OriginTrail's $TRAC token has seen a 155% ROI in the past year, showcasing its potential for growth. 3) Small Cap: [Third altcoin information here] [Additional details about the third altcoin] Share your favorite DePIN project in the comments below and stay tuned for more updates on the evolving crypto landscape.

Sui blockchain pioneers 'internet-less transactions' to ensure continuous crypto flow even without internet connectivity. By utilizing mobile networks, radio waves, and innovative compression techniques, Sui enables transactions to be transmitted without relying on the internet. This breakthrough development addresses concerns about crypto accessibility during internet outages or low connectivity areas. The technology has already been successfully tested and aims to be integrated into IoT devices, benefiting projects like Decentralized Physical Infrastructure (DePIN). DePINs, a growing sector in Web3, involve collective participation to run public infrastructure and earn rewards. Sui's vision includes using mesh networks for message relay in scenarios with no internet but available GSM, leveraging satellites, relays, or radio channels. These 'internet-less transactions' extend beyond payments to include coupons, rewards, and data-related services. Initiatives like Helium Mobile and Wifi Dabba on the Solana network are already working to expand digital access through similar DePIN projects. Sui's focus on financial inclusion drives their mission to make financial services more accessible and affordable to a wider audience.

OKX Wallet recently hosted a successful 'DePIN Day' event showcasing the growth and innovation within the Solana ecosystem. Key insights from the event include the excitement around OKX Wallet's Blinks capabilities, the integration of Dialect's technology, and the potential collaborations with projects like Uprock and Helium Foundation. The event highlighted OKX Wallet's dedication to supporting the Solana ecosystem and the expanding DePIN sector, projected to reach $3.5 trillion by 2028.

Helium ($HNT) is making significant strides in the Decentralized Physical Infrastructure Networks (DePIN) category, showing strong demand-side traction and market response. Over the past week, $HNT has seen a 21% increase, and a remarkable 53% surge over the past 30 days. The fundamentals of Helium are powering global telecommunications, gaining investor confidence and interest in its unique value proposition. The combination of Solana ($SOL) and DePIN projects like Helium offers a compelling opportunity, leveraging the strong fundamentals of DePIN and the high-growth potential of the Solana ecosystem. As Helium expands its global telecommunications infrastructure, it is well-positioned to benefit from the increasing adoption of decentralized networks. The market is starting to recognize Helium's robust fundamentals and impressive market performance, making it a promising area for investors to watch.

AAVE has silently achieved a doubling of its Total Value Locked (TVL) to a remarkable $21 billion this year. With active loans, revenue, and fees surging, AAVE is outpacing market capitalization growth, establishing itself as a major player in the Web3 lending market. Over three years, AAVE has secured a 50% market share, driven by stablecoin integration, asset support expansion, and resilience through market cycles. A new fee switch and token buyback proposal, if implemented, could further enhance AAVE's economic model and investor appeal. Despite shifting trading volumes towards SOL, AAVE remains at the forefront of the $ETH lending market, showing less sector-specific risk compared to UNI in the DEX sector. AAVE's growth and strategic moves highlight its dominance in the Web3 lending space, with potential model changes set to strengthen its position as the decentralized finance landscape evolves.

In Q2 2024, the crypto market saw a 14.4% drop in total market cap, yet certain sectors like meme coins, real-world assets, AI, and DePin showed resilience. Despite Bitcoin halvings, the overall market was poor, but these sectors gained attention. Meme coins, especially 'cat-themed' tokens, were among the top narratives, with blockchain ecosystems like Solana and Ethereum capturing significant market attention. RWA and AI integration in blockchains, along with DePin's innovative approach to decentralizing physical assets, were highlighted. The crypto market's annualized volatility was high at 48.2%, indicating investor uncertainty. Notable events included Mt. Gox trustee moving 140,000 BTC and Germany selling seized Bitcoin, affecting the market. Ethereum experienced an inflationary shift with an addition of 120,818 ETH to its supply. Crypto exchanges showed mixed trends, with CEXs like Binance seeing a decline in trading volume, while DEXs like Uniswap and new platforms saw volume increases, benefiting from meme coin trades and airdrops. The outlook for the rest of 2024 is cautiously optimistic, with improving macroeconomic conditions and ongoing development efforts.