Solana Labs and Google Cloud have launched Gameshift, a new API designed to integrate Web3 components like NFTs and digital assets into traditional Web2 gaming. The partnership aims to simplify blockchain adoption in gaming while expanding Solana's ecosystem through new collaborations and DeFi growth.   Quick Take  Google Cloud and Solana Labs launch Gameshift, a new gaming development API that integrates Web2 and Web3 services. Gameshift aims to simplify the integration of NFTs and digital assets for Web2 game developers. Travala integrates Solana blockchain for bookings, rewards, and zero-fee transactions. Solana blockchain’s decentralized finance (DeFi) ecosystem surpasses $5 billion in Total Value Locked (TVL). Solana Labs and Google Cloud Join Forces for Gameshift Solana and Google Cloud collaboratiobn | Source: Google Cloud    Solana Labs and Google Cloud have teamed up to launch Gameshift, a cutting-edge API that aims to bridge the gap between traditional Web2 gaming and emerging Web3 technology, according to an official update by Google Cloud. This collaboration was revealed during the 2024 Solana Breakpoint conference at the “Gamer Village” event.   Available on Google Cloud Marketplace, Gameshift offers a suite of tools for developers eager to infuse blockchain-based features, such as non-fungible tokens (NFTs) and digital assets, into their games. This new tool marks the next phase in the ongoing partnership between Google Cloud and Solana Labs, following their 2022 announcement that Google Cloud had become a node validator on Solana’s blockchain.   Read more: What Is Solana Seeker Phone, and How to Buy It?   A Seamless Bridge from Web2 to Web3 Gameshift offers a comprehensive set of foundational Web3 services that simplify the integration of blockchain technology for developers operating within the Google Cloud ecosystem. Developers working on Web2 games can now add Web3 components without the technical burden of navigating the complexities of blockchain infrastructure.   Jack Buser, Director for Games at Google Cloud, acknowledged the challenges many game studios face when exploring Web3. He emphasized that Gameshift is designed to remove the complexities of Web3 integration, helping game studios focus on what they do best—developing engaging content.   “Game studios are already overburdened,” Buser said. “They need solutions like Gameshift that provide simplified technical and cultural interfaces to Web3.”   Solana’s Web3 Ecosystem Expands Beyond Smartphones  The partnership between Solana Labs and Google Cloud has been instrumental in propelling Solana’s position in the Web3 space. At the 2022 Solana Breakpoint conference, the duo announced several innovations, including a Web3 store and a blockchain-enabled smartphone - Solana Saga.   In 2024, they’ve continued to build on this foundation with Gameshift. Developers can now use Google Cloud’s infrastructure to integrate secure blockchain features into their games, enhancing the gaming experience with decentralized services and digital ownership.   Read more: Solana Unveils the Seeker Smartphone: A New Era for Web3 Mobile Technology   Travala Integrates Solana for Travel Rewards The Solana blockchain isn’t just making waves in gaming. Travala, a crypto-native travel platform, recently announced its integration of Solana for travel bookings and rewards. Through this integration, users can pay for bookings using Solana (SOL) and stablecoins like USDT and USDC. Travala users will also be able to receive up to 10% of their bookings back in SOL rewards via Travala’s loyalty program.   Travala’s CEO, Juan Otero, highlighted Solana’s scalability and cost-effectiveness, calling the platform an innovation driver within the blockchain industry. The addition of SOL to Travala’s supported cryptocurrencies allows Solana’s growing user base to enjoy seamless transactions with zero fees.   Solana’s DeFi Ecosystem Grows, TVL Crosses $5B  Solana DeFi TVL | Source: DefiLlama   The decentralized finance (DeFi) landscape on Solana continues to expand. For the first time, Solana’s Total Value Locked (TVL) in DeFi has surpassed $5 billion, thanks to a significant surge in activity across decentralized applications (dApps) on the platform.   Jupiter, one of Solana’s leading DeFi protocols, has played a pivotal role in this growth. Its TVL recently reached an all-time high, further strengthening Solana’s position in the DeFi ecosystem. This boom in DeFi activity has contributed to the rising demand for SOL as users interact with protocols on the network.   Read more: Top Decentralized Exchanges (DEXs) in the Solana Ecosystem   Solana’s Challenges: Daily Active Addresses Decline to 3.5M Solana’s active addresses | Source: Artemis    Despite Solana’s impressive metrics, challenges remain. Data shows a decline in daily active addresses, which dropped from a one-year high of 5.5 million addresses in September to 3.5 million recently. This indicates that short-term engagement with Solana’s network is slowing, although the long-term outlook remains promising.   In terms of decentralized application activity, Solana has seen a dip in dApp volumes. Recent data shows a 70% drop in dApp volumes compared to the high recorded in August 2024. For Solana to continue its upward trajectory, developers must continue to build engaging dApps that attract users and drive demand for SOL.   In the previous months of 2024, Solana enjoyed heightened on-chain activity thanks to the memecoin frenzy and the launch of Pump.fun memecoin launchpad. However, Solana-based memecoins experienced a decline in interest among investors as the market sentiment dipped. Additionally, the launch of SunPump memecoin launchpad pulled away memecoin creators and traders from Solana to the TRON ecosystem in summer of 2024.    SOL Price Rally Slows: Can It Cross $200?  Solana’s native token, SOL, has experienced a rollercoaster year in terms of price action. Recently, SOL bounced from a multi-month support level, surging from $127 to $151. However, on-chain data suggests that Solana’s rally may be losing steam.   The long/short ratio currently indicates that traders remain cautious about SOL’s short-term prospects. With slightly more short positions than long ones, market participants are signaling uncertainty about whether SOL can rally to $200 in the near future.   However, with continued innovation in Web3 gaming, DeFi expansion, and integrations like Travala, Solana’s long-term fundamentals remain strong. The recent developments at the Solana Breakpoint conference signal that the blockchain is committed to advancing its ecosystem and bridging the gap between Web2 and Web3.   Conclusion The launch of Gameshift by Solana Labs and Google Cloud is a major step toward Web3 adoption, simplifying blockchain integration for traditional gaming. While Solana faces challenges like declining network activity and volatile SOL prices, its ongoing innovations and partnerships highlight a strong potential for growth across industries.   Read more: Top Crypto Projects in the Solana Ecosystem to Watch in 2024

Meta Description: ค้นพบว่าสมาร์ทโฟน Seeker โดย Solana กำลังปฏิวัติเทคโนโลยีมือถือด้วยการผสานรวมระบบกระจายศูนย์และสกุลดิจิทัลได้อย่างไร สำรวจว่าดีไวซ์ล้ำสมัยนี้อาจเปลี่ยนแปลงการเงิน การลงทุน และอนาคตของเทคโนโลยีมือถืออย่างไร พร้อมเสนอให้เห็นภาพโลกที่บล็อกเชนและอุปกรณ์มือถือมารวมตัวเพื่อประสบการณ์ดิจิทัลที่ปลอดภัยและเข้าถึงได้มากขึ้น   Solana Labs ได้เปิดตัวนวัตกรรมล่าสุดของพวกเขาอย่างเป็นทางการแล้ว นั่นคือสมาร์ทโฟน “Seeker” ซึ่งมีกำหนดเปิดตัวโทรศัพท์คริปโตรุ่นที่สองในปี 2025 ตามที่ Solana Mobile ประกาศในงาน Token 2049 เมื่อวันพฤหัสบดีที่ 19 กันยายน 2024 ที่ผ่านมา   โดยวางตำแหน่งเป็น Web3 ดีไวซ์สำหรับมือถือที่ล้ำสมัย และด้วยราคาที่เกือบครึ่งหนึ่งของรุ่นก่อน Seeker ถูกออกแบบมาเพื่อดึงดูดกลุ่มผู้ใช้ที่กว้างขึ้นในขณะที่มีฟีเจอร์ที่ก้าวหน้าซึ่งมากกว่าชุมชน memecoin เท่านั้น   สมาร์ทโฟน Solana รุ่นแรก, Saga, ได้รับคำวิจารณ์บางส่วนเกี่ยวกับขีดจำกัดทางเทคนิคเมื่อเทียบกับอุปกรณ์กระแสหลักเช่น iPhone และ Google Pixel อย่างไรก็ตาม Seeker ได้แก้ไขข้อกังวลเหล่านั้นด้วยหน้าจอที่เหนือกว่า กล้องที่ได้รับการอัปเกรด และแบตเตอรี่ที่มีประสิทธิภาพมากขึ้น ทำให้ได้รับคำขวัญว่า “เบากว่า สว่างกว่า และดีกว่า”   อ่านเพิ่มเติม: Top Solana Memecoins to Watch in 2024   ที่มา: Solana Mobile   Seeker: เส้นทางที่เข้าถึงได้ง่ายขึ้นสู่ Web3 หลังจากความสำเร็จในการขายหมดของ Solana Saga Solana Mobile กลับมาอีกครั้งด้วยอุปกรณ์ที่ยอดเยี่ยมตัวต่อไป: Seeker เปิดตัวเมื่อต้นปีนี้ภายใต้ชื่อรหัส “Chapter Two” Seeker ได้สร้างความสนใจอย่างมากโดยมีการสั่งซื้อล่วงหน้ากว่า 140,000 หน่วยใน 57 ประเทศ ความต้องการที่แข็งแกร่งนี้ได้กระตุ้นการพัฒนาในชุมชน Solana มากยิ่งขึ้น โดยมีทีมต่างๆ ที่กำลังสร้างแอปพลิเคชันแบบกระจายอำนาจ (dApps) รางวัล และคุณสมบัติเฉพาะสำหรับ Seeker เพื่อเตรียมการเปิดตัว   Anatoly Yakovenko ผู้ร่วมก่อตั้ง Solana และ CEO ของ Solana Labs ได้แสดงความตื่นเต้นเกี่ยวกับโครงการนี้: "เราได้ก่อตั้ง Solana Mobile ขึ้นมาเพื่อภารกิจในการนำคริปโตไปสู่มือถือ เพื่อบรรลุเป้าหมายนั้น เราจำเป็นต้องทำให้ Seeker เข้าถึงได้ง่ายขึ้น ราคาถูกลง และให้ฮาร์ดแวร์และซอฟต์แวร์ของมันมีการผสมผสานอย่างลึกซึ้งยิ่งขึ้นสำหรับ Web3 การสนับสนุนจากชุมชน Solana นั้นน่าทึ่งมาก และด้วยคุณสมบัติต่างๆ เช่น Seed Vault Wallet ใหม่และ Solana dApp Store ที่อัปเดต เราเชื่อว่า Seeker จะเป็นอุปกรณ์มือถือ Web3 ที่แน่นอนเมื่อเปิดตัวในปีหน้า"   นี่คือการดูลึก ๆ ในคุณสมบัติสำคัญที่ Solana ได้เปิดเผยสำหรับ Seeker:   Seed Vault Wallet: Seeker จะมีการนำเสนอวอลเล็ตคริปโตที่ออกแบบมาเป็นพิเศษสำหรับผู้ใช้ Web3 โดยจะมีการผสานรวมกับอุปกรณ์ได้อย่างเนียนตา Self-custodial Seed Vault จะช่วยรับประกันการทำธุรกรรมที่ปลอดภัยและไร้รอยต่อ การยืนยันแบบ double-tap และการจัดการบัญชีที่ง่ายขึ้นเป็นเพียงคุณสมบัติบางประการที่ Solana ได้รวมเข้ากับ Solflare เพื่อเพิ่มประสบการณ์ Web3   Solana dApp Store 2.0: Solana dApp Store ที่อัปเดตแล้วจะเปลี่ยนแปลงอย่างทวีคูณสำหรับแอปพลิเคชันแบบกระจายอำนาจ ด้วยการค้นพบแอปที่ได้รับการเสริมประสิทธิภาพในหมวดหมู่ต่างๆ เช่น การชำระเงิน, DeFi, DePIN, NFTs, AI และการเล่นเกม ผู้ใช้จะพบและใช้เครื่องมือ Web3 ได้ง่ายขึ้น นอกจากนี้ยังมีตัวติดตามรางวัลเพิ่มมูลค่าการใช้ในชีวิตประจำวันให้มากขึ้นด้วย   Seeker Genesis Token: หนึ่งในคุณสมบัติที่คาดหวังมากที่สุดของ Seeker คือ Genesis Token ซึ่งเป็น NFT พิเศษที่ไม่สามารถโอนย้ายได้ โทเค็นนี้จะปลดล็อกโอกาสต่างๆ ที่หลากหลาย ตั้งแต่การเข้าถึงรางวัลและข้อเสนอพิเศษไปจนถึงเนื้อหาภายในระบบนิเวศของ Solana มันไม่ใช่แค่คุณสมบัติเท่านั้น แต่เป็นทางเข้าสู่การมีส่วนร่วมที่ลึกซึ้งยิ่งขึ้นกับ Web3   Improved Hardware: Solana ไม่ได้เน้นเพียงแค่ซอฟต์แวร์เท่านั้น Seeker ยังเป็นการอัพเกรดฮาร์ดแวร์ครั้งใหญ่จาก Saga มีการออกแบบที่เบาขึ้น หน้าจอสว่างขึ้น คุณภาพกล้องที่ดีขึ้น และอายุการใช้งานแบตเตอรี่ที่ยาวนานขึ้น การปรับปรุงเหล่านี้ช่วยให้ Seeker สามารถแข่งขันกับสมาร์ทโฟนชั้นนำอื่น ๆ ได้ ในขณะเดียวกันก็สร้างพื้นที่ของตัวเองในฐานะอุปกรณ์ที่เน้น Web3   ในขณะที่การเปิดตัวของ Seeker ใกล้เข้ามา ความตื่นเต้นก็กำลังก่อตัวขึ้น ด้วยชุดคุณสมบัติที่แข็งแกร่งและการสนับสนุนจากชุมชนอย่างลึกซึ้ง มันถูกกำหนดให้เป็นอุปกรณ์มือถือชั้นนำในพื้นที่ Web3 ก่อตั้งขอบเขตใหม่ที่สมาร์ทโฟนสามารถนำเสนอได้ในระบบนิเวศที่เติบโตอย่างรวดเร็วนี้   อ่านเพิ่มเติม: กระเป๋าเงิน Bitcoin ที่ดีที่สุดในปี 2024   ที่มา: X   ร้าน DApp ที่เปิดกว้าง: ศูนย์กลางนวัตกรรม หนึ่งในคุณสมบัติที่โดดเด่นของสมาร์ทโฟน Seeker คือร้าน DApp ที่เปิดกว้างและไม่จำกัด ตามที่ Hollyer กล่าว วิสัยทัศน์เบื้องหลังแพลตฟอร์มนี้คือการช่วยให้นักพัฒนาสามารถเปิดตัวและปรับใช้แอปของตนได้อย่างรวดเร็ว ทำให้ผู้ใช้อยู่ในแนวหน้าของแนวโน้มและกรณีการใช้งานใหม่ๆ ในโลกแบบกระจายอำนาจ   หากคุณตื่นเต้นกับการเป็นหนึ่งในคนแรกๆ ที่สำรวจแอป DeFi ล่าสุดหรือดำดิ่งสู่เกม memecoin ถัดไป ร้าน DApp ของ Seeker มีสิ่งนั้นให้คุณ แตกต่างจากสภาพแวดล้อมที่จำกัดของ Apple และ Google Seeker กำจัดอุปสรรคโดยการกำจัดค่าธรรมเนียม ทำให้นักพัฒนามีอิสระในการสร้างสรรค์และนำไอเดียของพวกเขามาใช้โดยไม่ต้องเสียสละส่วนหนึ่งของผลกำไร โมเดลนี้ส่งเสริมระบบนิเวศที่สร้างสรรค์และเปิดกว้าง ทำให้ Seeker เป็นตัวเปลี่ยนเกมในภูมิทัศน์เทคโนโลยีมือถือ   แอร์ดรอปมูลค่า $265 สำหรับผู้ใช้ Seeker ในขณะที่ Seeker มุ่งหวังที่จะก้าวข้ามป้าย "โทรศัพท์ memecoin" ของรุ่นก่อน รางวัลครั้งนี้อาจไม่มากเท่าที่เคยเป็นมาก่อน จากข้อมูลของ TwoLoot ซึ่งเป็นตัวติดตามแอร์ดรอปมือถือของ Solana แสดงให้เห็นว่าผู้ใช้ Seeker คาดว่าจะได้รับโทเค็นแอร์ดรอปราว $265 ซึ่งต่ำกว่า $1,350 ที่ผู้ใช้ Saga ได้รับอย่างมาก   อย่างไรก็ตาม Solana เน้นว่า คุณค่าที่แท้จริงของ Seeker อยู่ที่ความสามารถในการมอบประสบการณ์มือถือที่เชื่อมต่อกับคริปโตมากยิ่งขึ้น หนึ่งในคุณสมบัติที่โดดเด่นคือร้านค้าแอปที่ไม่มีค่าธรรมเนียม ซึ่งเป็นพื้นที่ที่ออกแบบมาเพื่อการนวัตกรรมคริปโต แตกต่างจากร้านค้าแอปแบบเดิมที่ดำเนินการโดย Apple และ Google ซึ่งหักค่าธรรมเนียม 30% จากนักพัฒนาและมีการตรวจสอบที่เข้มงวด ระบบนิเวศแอปของ Seeker ถูกออกแบบมาเพื่อโครงการ Web3   นั่นหมายถึงแพลตฟอร์มการเปิดตัวโทเค็นแบบกระจาย (decentralized token launchpads) อย่างเช่น memecoin deployer pump.fun สามารถเติบโตได้โดยไม่ต้องรับมือกับอุปสรรคที่ซับซ้อนจากนโยบายของ App Store ปัจจุบัน ด้วยความเน้นนี้ Seeker หวังว่าจะกลายเป็นศูนย์กลางสำหรับแพลตฟอร์มการเปิดตัวโทเค็นและแอปพลิเคชัน Web3 หลากหลายชนิด   ที่มา: X   สนับสนุนแอป DePIN และขยายความเป็นไปได้ของ Web3 Seeker ยังมีแผนที่จะรวมเข้ากับแอป Decentralized Physical Infrastructure Network (DePIN) apps เช่น Helium และ Infield ซึ่งจะช่วยเสริมความก้าวหน้าในภูมิทัศน์ของ Web3 Solana ได้เชิดชู Seeker ว่าเป็น “อุปกรณ์เคลื่อนที่ Web3 ที่ชัดเจน” โดยมีฮาร์ดแวร์และซอฟต์แวร์ที่สอดคล้องกันอย่างไร้ที่ติสำหรับแอปพลิเคชันแบบกระจายศูนย์    อ่านเพิ่มเติม: โครงการคริปโตยอดนิยมในระบบนิเวศของ Solana ที่ควรจับตามองในปี 2024   Saga และความสำเร็จของ BONK ผู้บุกเบิกของ Seeker คือ Saga ซึ่งเปิดตัวในเดือนพฤษภาคมปีที่แล้วแต่มีปัญหาในการหาตำแหน่งในตลาดเทคโนโลยีที่มีการแข่งขัน รีวิวในช่วงแรกมีความหลากหลาย โดยทั้งผู้เชี่ยวชาญด้านเทคโนโลยีและผู้ที่ชื่นชอบคริปโตไม่ได้แสดงความตื่นเต้นมากนัก อย่างไรก็ตาม เกิดการเปลี่ยนแปลงครั้งใหญ่ในเดือนธันวาคมเมื่อ memecoin Bonk (BONK) เพิ่มขึ้น 1,000% ทำให้ Saga ขายหมดในช่วงกลางเดือนธันวาคม   จากแรงผลักดันนั้น Solana หวังที่จะทำซ้ำความสำเร็จบางส่วนกับ Seeker บริษัทรายงานว่ามีผู้คนประมาณ 140,000 คนได้สั่งซื้ออุปกรณ์ล่วงหน้า โดยมีราคาตั้งแต่ $450 ถึง $500 Solana ได้รับรองว่าผู้ใช้งานกลุ่มแรกเหล่านี้จะได้รับรางวัลต่างๆ แต่ย้ำว่า Seeker มีมากกว่าแค่โอกาสในการติดตามเทรนด์ของ memecoin   ความคิดสุดท้าย: อนาคตของ Seeker ในระบบนิเวศ Web3 สมาร์ทโฟน Seeker แสดงถึงความมุ่งมั่นของ Solana ในการทำให้เทคโนโลยี Web3 เข้าถึงได้ง่ายและใช้งานได้จริงในชีวิตประจำวัน ด้วย App Store ที่ไม่มีค่าธรรมเนียม การรวมกับแอป DePIN และแพลตฟอร์มที่กระจายศูนย์ที่ตอบสนองความต้องการที่เปลี่ยนแปลงของผู้ใช้คริปโต Seeker ไม่ใช่แค่การอัปเกรดจาก Saga แต่มันคือก้าวกระโดดสำหรับอุปกรณ์เคลื่อนที่ในยุค Web3   แม้ว่ารางวัลจากโทเค็นอาจไม่มากเท่าที่ผู้ใช้บางคนคาดหวัง กลยุทธ์ระยะยาวของ Solana เน้นไปที่การสร้างประสบการณ์ที่ไร้รอยต่อและรวมแอปพลิเคชันที่กระจายศูนย์ไว้ในมือผู้ใช้ ในขณะที่ระบบนิเวศ Web3 ยังคงพัฒนาไป สมาร์ทโฟน Seeker อาจจะเป็นแนวหน้าในยุคปฏิวัติมือถือนี้   อย่างไรก็ตาม ยังมีความท้าทายที่ต้องเผชิญ รวมถึงการแก้ไขปัญหาการขัดข้องของเครือข่ายของ Solana ในอดีตและการแข่งขันกับยักษ์ใหญ่ในตลาดมือถือเพื่อให้แน่ใจว่าอุปกรณ์นี้จะมีมูลค่าในระยะยาว   อ่านเพิ่มเติม:  Top Solana Memecoins to Watch in 2024 Solana vs. Ethereum: Which Is Better in 2024

Polymarket has become a leading platform in the crypto betting arena, recently surpassing $1 billion in trading volume. This milestone comes amid a surge in activity driven by the 2024 U.S. presidential election.   Quick Take  Polymarket surpasses $1 billion in lifetime trading volume. Over $439 million wagered on the U.S. 2024 presidential election. Over one-third of the platform's total lifetime volume was traded in July. The majority of bets focus on U.S. politics and 2024 Olympics.   Polymarket’s daily volume and daily active traders | Source: Dune Analytics    Polymarket, the leading decentralized betting platform built on Polygon, saw a substantial increase in betting volume in recent months. In July alone, Polymarket recorded $343 million in betting volume, a significant jump from $111 million in June and $63 million in May, according to Dune Analytics. The primary driver? Fevered speculation over the upcoming U.S. presidential election.   Read more: What Is Polymarket, and How Does It Work?   Over $430M Wagered on US Presidential Election Outcomes Polymarket’s poll on US Presidential Election Winner 2024 | Source: Polymarket    As of now, more than $439 million has been wagered on who will win the presidential election on November 4. Former President Donald Trump leads the predictions with 57% odds, while Vice President Kamala Harris has recently seen her chances increase to 40% following President Joe Biden's decision to drop out of the race.   Bettors on Polymarket have strong opinions about various outcomes. For instance, Trump’s chances of winning are significantly higher on Polymarket than in traditional polls. This discrepancy highlights the unique dynamics of prediction markets and their potential to offer alternative insights.   To further capitalize on the growing interest in U.S. politics, Polymarket brought on election analyst and statistician Nate Silver as an adviser on July 16. This move aims to enhance the platform’s analytical capabilities and provide users with more accurate predictions.   Polymarket’s rise has not gone unnoticed. Major media outlets like The Washington Post, Bloomberg, and The New York Times have cited the platform, highlighting its influence and credibility in the prediction market space.   While political events have been the main focus, Polymarket also offers prediction markets on crypto, sports, business, and the 2024 Olympic games. The platform’s versatility has contributed to its growing popularity and substantial trading volumes.   Read more: Trending PolitiFi Tokens to Watch Before the US Elections   Polymarket Sees Increasing Bets on Paris Olympics 2024  Popular Paris Olympics 2024 polls on Polymarket | Source: Polymarket    In addition to political events, Polymarket has seen significant activity in its Olympics category. Bettors are staking money on questions like “Who will win the most medals at Paris Olympics?” and “Who will win the most gold?” This new category has attracted millions in digital assets, further boosting Polymarket’s volume. For instance, the polls on which country will win the most medals at the Paris Olympics 2024 have nearly $2 million bets placed in them.    Read more: Top Olympics-Themed Memecoins to Watch Amid Paris 2024   Polymarket’s $70M Fundraising in May 2024 and Partnerships Polymarket’s success is backed by significant investments and strategic partnerships. On May 14, the platform closed a $70 million Series B funding round led by Peter Thiel’s Founder Fund, with contributions from Ethereum co-founder Vitalik Buterin. Additionally, Polymarket partnered with MoonPay on July 24 to enable debit and credit card payments, making it easier for non-crypto users to join the platform.   Following the rising popularity of Polymarket, Solana-based Drift Protocol has unveiled plans to launch a new prediction marketplace ahead of the upcoming U.S. Presidential election, according to an announcement on X. This addition aims to provide a decentralized, permissionless platform for trading future event outcomes, emphasizing transparency and accuracy.    With over 195,000 lifetime users and $34.5 billion in trading volume, Drift Protocol seeks to enhance user experience by allowing trades using any asset and offering flexible sign-up options. The launch is expected in mid-August, alongside "The Election Center," a hub for meme coin trading related to the election. This move aims to capture a broader audience and challenge the dominance of platforms like Polymarket, which has seen a significant increase in user activity and trading volume.   Conclusion  Despite its success, Polymarket faces challenges. The platform is unavailable to American users due to regulatory constraints, limiting its potential user base. Additionally, there are concerns about the reliability of prediction markets compared to traditional polls, as evidenced by differing predictions in the U.S. election race.   Looking ahead, Polymarket plans to introduce leverage trading, allowing users to open larger positions and potentially reap greater rewards. This move could attract more sophisticated traders and increase the platform’s appeal.   Polymarket’s achievement of surpassing $1 billion in trading volume underscores its growing importance in the crypto betting space. With significant backing, strategic partnerships, and a diverse range of betting options, Polymarket is well-positioned for continued growth. However, regulatory challenges and market reliability remain key considerations as the platform evolves.

As the Paris 2024 Summer Olympics approach, the excitement extends beyond the sports arena into the cryptocurrency world. Investors are buzzing about Olympics-themed memecoins that could see substantial demand and activity. Here are the top Olympic tokens to watch:   Quick Take  The Meme Games ($MGMES): Ethereum-based token with unique 169-meter dash event and 1,218% APY staking, poised for strong market entry. PlayDoge ($PLAY): Ethereum-based mobile game offering Tamagotchi-like experience with an 84% annual staking yield. Mega Dice Token ($DICE): Solana-based token featuring profit-sharing, premium content access, and significant airdrop campaign. Solympics (SOLYMPICS): Solana-based token with a rapid price surge and high visibility aligned with the Olympic theme. Gold Medal Token (OlympicGM): Solana-based token offering Olympic predictions and engaging airdrops, launching July 26, 2024. Olympic Games Token (OGT): Solana-based token focused on fan engagement, athlete support, and sustainability, launching July 26, 2024. Olympic Game Doge (OGD): BNB Chain token with deflationary tokenomics and a clear roadmap for long-term growth. The Meme Games ($MGMES) The Meme Games ($MGMES) is officially designated as the meme coin of the 2024 Olympics. Based on the Ethereum blockchain, combines humor with innovative tokenomics, aiming to capitalize on its Olympic association for global recognition.   Key Features Unique 169-Meter Dash Event: Features five iconic meme coin characters – Dogecoin, Pepe, Floki, Turbo, and Dogwifhat – in a virtual race. 25% Bonus: Investors can win a 25% bonus if their chosen character wins. Staking Feature: Offers an impressive 1,218% APY, attracting significant investor interest. With the presale raising $130,000 within the first 24 hours and concluding on September 8, 2024, $MGMES is poised for a strong market entry. The combination of Olympic hype and innovative features makes it a compelling investment.   PlayDoge ($PLAY) PlayDoge ($PLAY) is an Ethereum-based crypto gaming project that merges meme culture with '90s nostalgia. It offers a Tamagotchi-like experience for the Web3 era.   Key Features Mobile Game: Players care for a virtual Doge pet and earn PLAY tokens. Mini-Games and Leaderboards: Enhances user engagement and token-earning potential. Staking Program: Offers an annual yield of 84%, higher than most staking coins. Endorsed by prominent crypto traders and YouTubers, PlayDoge is set to attract early supporters with its engaging ecosystem and high earning potential. Its roadmap includes a DEX launch and listings on CEXs, making it a promising investment.   Mega Dice Token ($DICE) Mega Dice Token ($DICE) is the native currency for Mega Dice, a Solana-based online gaming platform. It offers token holders a stake in the platform’s profits.   Key Features Profit-Sharing: Investors receive daily rewards based on the platform’s performance. Exclusive Access: Grants access to premium content and limited-edition NFTs. Airdrop Campaign: Distributing $2.25 million across three seasons, incentivizing participation. With over $1.6 million raised in its presale and a strong community, $DICE offers a unique profit-sharing model. The staking app and airdrop campaign further enhance its attractiveness as an investment.   Solympics (SOLYMPICS) Solympics (SOLYMPICS) is an Olympics-themed Solana memecoin, capturing the excitement of the Games with its branding and marketing.   Key Features Rapid Price Surge: Skyrocketed 412.75% in 24 hours. High Visibility: Trending on Dexscreener and capturing attention despite controversy over token distribution. Despite concerns about a potential rug pull, the initial excitement and significant price increase indicate strong interest. Its alignment with the Olympics theme makes it a potential high-gain investment during the Games.   Read more: What Is Pump.fun, and How to Create Your Memecoins on the Platform?   Gold Medal Token (OlympicGM) Gold Medal Token (OlympicGM) is designed to make investors feel like champions in a blockchain-based Olympics. It combines the thrill of competition with the excitement of the Olympics.   Key Features Predict and Win: Investors can predict Olympic champions and earn rewards. Exclusive Club: Join an elite group of digital athletes and diversify your portfolio with this unique token. Exciting Airdrops: Engages users with regular airdrops and interactive events. Launching on July 26, 2024, OlympicGM offers a unique blend of entertainment and investment. Its focus on engaging users through predictions and rewards makes it an attractive option during the Olympics.   Olympic Games Token (OGT) Solana-based Olympic Games Token (OGT) aims to enhance fan engagement and support athletes, with its launch tied to the 2024 Olympics.   Key Features Fan Engagement: Token holders can participate in exclusive events and vote on athlete awards. Athlete Support: Proceeds from token sales support athletes. Sustainability Initiatives: Funds eco-friendly projects aligned with the Paris 2024 commitment to sustainability. With its launch on July 26, 2024, $OGT leverages the Olympic spirit to attract a global audience. Its unique focus on fan engagement and sustainability makes it an appealing investment during the Olympics.   Olympic Game Doge (OGD) Olympic Game Doge ($OGD) is a rapidly growing community token on the BNB Chain, designed to restore trust in the market and provide various benefits to its holders.   Key Features Community-Driven: Focuses on building a robust and supportive community. Deflationary Tokenomics: Employs techniques like auto-burn and buyback to ensure continuous growth. Extensive Roadmap: Includes new partnerships, exchange listings, staking platform, NFTs, and large marketing campaigns. With a clear roadmap and strong community support, $OGD aims to become a beloved and successful project. Its unique deflationary tokenomics and focus on community engagement make it a standout choice for investors looking for long-term growth and stability.   Conclusion As the Paris 2024 Olympics ignite global excitement, these Olympics-themed memecoins present interesting investment opportunities. From innovative gaming features to profit-sharing models, $MGMES, $PLAY, $DICE, SOLYMPICS, OlympicGM, $OGT, and $OGD are poised to capture the attention of crypto enthusiasts and investors alike. However, it's important to remember that investing in cryptocurrencies, particularly memecoins, carries significant risks due to their volatility and speculative nature. Potential investors should conduct thorough research and consider their risk tolerance before investing in these tokens. Read more: Top PolitiFi Tokens to Watch During the US Presidential Elections

Solana (SOL) has been on an impressive upward trajectory, breaking through the $190 barrier on Monday following the surge of Bitcoin price. Over the past two weeks, SOL's price has risen steadily, reaching $185 and surpassing Binance Coin (BNB) in market capitalization. This surge has propelled Solana to the fourth spot among the largest cryptocurrencies.   Quick Take Solana (SOL) price rises above $190, increasing over 5% in the last 24 hours. SOL surpasses Binance Coin (BNB) to become the fourth largest cryptocurrency by market cap. Institutional interest and potential ETF approval drive Solana’s price surge. Solana's market performance showcases resilience amid overall market fluctuations. Solana vs. BNB Chain: which one is better?  The driving force behind this rally includes growing institutional interest and the anticipation of a Solana ETF. According to CoinShares, SOL saw the most inflows of any altcoin after Ethereum in the week ending July 20, indicating substantial confidence from large investors.   Solana surpasses BNB in terms of market cap | Source: TradingView    Read more: Solana Flips Ethereum in Daily Active Addresses in June: CMC H1 2024 Report   Institutional Inflows and ETF Speculation One significant catalyst for Solana's rise is the speculation around a potential Solana ETF. Following the approval and launch of Ethereum spot ETFs, many market participants believe Solana could be next. VanEck, a major asset manager, has hinted at the possibility of a Solana ETF, sparking further interest. This speculation has been a key factor in SOL's recent price increase.   Read more: VanEck Files for First Solana ETF in the U.S.: A Potential Game Changer?   SOL Price Analysis: Can Solana Break $200 and Test $250?  SOL/USDT price chart | Source: KuCoin    Currently trading at $191, SOL has formed a bullish double-bottom pattern, with analysts predicting a breakout could lead to significant gains. If SOL breaks above $200 and establishes it as a support level, the next target is $245, bringing it closer to its all-time high of $260. However, failure to maintain this momentum could see SOL drop to $175, invalidating the bullish outlook.   SOL Funding Rate History Chart | Source: CoinGlass    The positive sentiment around Solana is reflected in the growing interest from institutional investors. Data from Coinglass reveals an increase in long positions, indicating confidence in SOL's bullish potential. However, the broader market context remains volatile, and investors should stay cautious.   Solana vs. BNB Chain: Which Is Better in 2024? As Solana overtakes BNB in market cap, a comparison of the two platforms is essential.   Solana (SOL) Boasts High Throughput and Rapidly Growing Ecosystem Performance: Solana boasts high throughput and low transaction fees, making it a preferred choice for decentralized applications (dApps) and non-fungible tokens (NFTs). Institutional Interest: Significant inflows from institutional investors and potential ETF approval. Development: Continuous network upgrades and growing ecosystem support its strong performance. BNB Chain (BNB) Supports DeFi Protocols and Binance Ecosystem Performance: BNB Chain, formerly Binance Smart Chain, offers robust infrastructure and high-speed transactions, supporting a wide range of dApps and DeFi projects. Utility: BNB token is integral to the Binance ecosystem, providing various use cases, including fee discounts and staking. Community Support: Strong backing from the Binance exchange and its user base. Read more: BNB Chain Loses $1.6B to Rug Pulls, Hacks Since 2017: Immunefi Research    Conclusion Solana's rise to the fourth-largest crypto by market cap highlights its growing prominence in the crypto market. While SOL's recent performance and institutional interest suggest a bright future, the market remains volatile. Investors should monitor key technical indicators and remain cautious. Both Solana and BNB Chain offer unique advantages, and their performance in 2024 will depend on continued innovation and market conditions.  

Cryptocurrencies received a boost from mainstream investors after the launch of spot Bitcoin and Ethereum ETFs in 2024. This new wave of financial products has opened doors to a broader market, making digital assets more accessible to traditional investors. Following this trend, Franklin Templeton, which successfully launched ETFs for Bitcoin and Ethereum, is now setting its sights on Solana, as per a news report on Contribune. Can Solana be the next significant player in the ETF world, and what would this mean for investors?    Quick Take  Major firms like Franklin Templeton, VanEck, and 21Shares are exploring Solana ETFs. Solana's high throughput and low fees make it a promising candidate. Approval of Solana ETFs could significantly increase liquidity and investor interest.   The excitement around Solana ETFs is palpable. Last month, VanEck and 21Shares submitted their applications for Solana ETFs, following the path of Ethereum ETFs. These moves have driven GSOL shares to new heights, reflecting the growing investor confidence in Solana.   Solana: A Rising Star As one of the leading layer 1 blockchain networks, Solana has been gaining traction in the crypto community due to its impressive technological capabilities and rapid adoption, especially in the DeFi and memecoin sectors. Franklin Templeton has highlighted Solana's ability to handle high transaction volumes and its robust infrastructure as key factors for its consideration for an ETF.   As Franklin Templeton stated in a post on X: "Solana has shown massive adoption and continues to mature, overcoming technological growing pains."   Several indicators point to Solana's rising prominence:   Rapid Adoption: Solana's user base and transaction volumes have grown significantly. Robust Technology: Its high throughput capability allows it to process thousands of transactions per second, making it an efficient platform. Attractive Fees: Like Franklin Templeton’s  Ethereum ETF fee waiver, issuers may consider waiving management fees for the Solana ETF, making it an attractive option for investors. Read more:  1. What Is a Spot Solana ETF? Will It Be the Next Big Thing After Spot Ethereum ETFs? 2. Top Solana Memecoins to Watch in 2024 How Will Solana ETFs Impact the Crypto Market? The introduction of a Solana ETF could be a game-changer for the cryptocurrency market. With firms like VanEck and 21Shares already in the race to launch their own Solana ETFs, investor interest is clearly on the rise.   Eric Balchunas, an analyst at Bloomberg, noted: "After the launch of ETH products, there will be flows, then likely Solana products, and so forth. The dam has burst."   This suggests that Solana ETFs could follow the path paved by Ethereum ETFs, leading to increased market liquidity and attracting new investors. The final SEC decisions on the first Solana ETF applications are expected by March 2025. If approved, this could mark a significant milestone for Solana and the broader cryptocurrency market.   Franklin Templeton’s recent initiatives underscore its confidence in Solana's potential. The company's move to explore Solana ETFs signals a belief in Solana's long-term viability and its ability to become a major player in the crypto world.   Read more: VanEck Files for First Solana ETF in the U.S.: A Potential Game Changer?   Grayscale Solana Trust (GSOL) Gains Almost 50% in a Month GSOL performance: Market price and NAV per share | Source: Grayscale    The Grayscale Solana Trust (GSOL) is an investment vehicle that allows investors to gain exposure to Solana (SOL) through traditional security. This trust aims to reflect the value of Solana held by the trust, enabling investors to avoid the complexities of buying, storing, and safekeeping the cryptocurrency directly​. GSOL trades on the over-the-counter (OTC) markets and has recently seen a significant premium in its trading price due to heightened institutional interest.   The Grayscale Solana Trust (GSOL) has recently shown strong performance, reflecting the growing anticipation around Solana ETFs. Over the past 30 days, GSOL surged by 48.45%, reaching $507. This surge indicates robust institutional interest and positive market sentiment towards Solana.   Crypto analyst Nic commented: "The Grayscale GSOL trust is trading near all-time highs & at 7x the NAV. These institutional buyers are willing to gain $SOL exposure at an implied price of over $1,300."   This statement underscores the optimism among institutional investors, willing to pay premiums for SOL exposure.   Solana's Price Trends SOL/USDT price chart | Source: KuCoin    Solana's price has shown positive trends recently. Trading at $176.39, it has seen an 8.21% increase on weekly charts, with a trading volume rise of 4.24% to $3 billion in the past 24 hours. This aligns with the broader positive sentiment in the SOL ecosystem.   Future Outlook for Solana (SOL) Price  Solana technical chart | Source: X    Analysts are optimistic about Solana's future. Crypto analyst Ali Martinez predicts a potential 900% rise for Solana, citing a solid support level around $120 and a rebound in the weekly Relative Strength Index (RSI).   However, caution is advised. Veteran trader Peter Brandt suggests waiting for Solana to surpass its previous highs before making long-term investments.   Conclusion The potential approval of Solana ETFs represents a notable development in the cryptocurrency market. Solana's strong technological foundations, increasing adoption, and growing institutional interest position it well for future growth. The upcoming SEC decisions could play a pivotal role in establishing Solana's place in the crypto ecosystem, potentially making it an attractive option for both institutional and retail investors. However, it is important to remain mindful of the inherent risks associated with cryptocurrency investments. Market volatility, regulatory changes, and technological challenges are factors that could impact Solana's performance.   Read more: Spot Ethereum ETFs Make a Splash: First-Day Trading Volume Hits $1.08 Billion  

Jupiter (JUP), a decentralized exchange (DEX) aggregator on the Solana blockchain, has been showing significant bullish signs. The token has traded within the upper half of the Bollinger Bands for nearly ten days, reinforcing the bullish bias.   Quick Take  Jupiter has consistently traded in the upper half of the Bollinger Bands for nearly ten days. The $1 level has flipped to support, while $1.2-$1.3 is the next resistance. Despite the bullish trend, trading volume remains relatively low. Potential targets include $1.4, $1.6, and the all-time high of $1.85. RSI at 46.60 and Stochastic at 20.36 suggest room for growth. Jupiter has become one of the top DEX aggregators in the Solana ecosystem in a short amount of time. The $JUP price bounced beautifully from the 0.618 Fibonacci level multiple times before breaking through the downward trend line to reach just over $1. The daily close for $JUP will be crucial to determine if resistance can now be flipped into support at the $1 level.   Read more: Top Decentralized Exchanges (DEXs) in the Solana Ecosystem to Watch in 2024   Measured from July 8th, JUP has rallied an impressive 65%. This surge flipped the $1 area to support, which might be tested again in the near-term. The market structure turned bullish after the $0.8 resistance was breached. However, considering the wild volatility on July 4th, a more conservative view might indicate that the structure remains bearish.   Jupiter (JUP) liquidity analysis | Source: Hyblock    The $1 level was breached, with the liquidity cluster at $0.95-$0.98 taken out effortlessly. To the north, the $1.2 and $1.4 levels are the next targets, aligning well with the bearish order block target from the price chart. Short-term liquidation levels show a skew toward long positions, setting up conditions for a potential long squeeze. If this happens, the $0.97-$0.98 region is expected to serve as support.   JUP Faces Key Resistance Around $1.20-$1.30 JUP/USDT price chart | Source: TradingView    The H12 bearish order block at the $1.2-$1.3 zone is the next key resistance. This area has served as resistance since mid-April. The indicators remain firmly bullish, suggesting the rally could extend past $1. However, the relatively low trading volume compared to February and March is a worrying factor, indicating that bullish sentiment might not be as widespread as price action suggests.   Will Jupiter Test $1.85 ATH?  The primary targets for $JUP are $1.4, $1.6, and the all-time high of $1.85. If $JUP can enter price discovery, further targets of $2.6 and $3.8 could be achievable.   With a price range between $0.90 and $1.18, JUP shows promise despite recent market dips. Bulls are testing the nearest resistance level at $1.27, with strong support at $0.72. The 10-day moving average is $1.04, and the 100-day average is $1.01, indicating resilience. An RSI of 46.60 and a Stochastic of 20.36 suggest that JUP is not overbought yet. The recent uptick of 26% in one week and a massive 3345% rise in six months indicate strong upward momentum.   Conclusion Jupiter (JUP) presents a compelling case for bullish growth, supported by technical indicators and market structure. While low trading volume poses a concern, the token’s performance within the Bollinger Bands and its ability to breach key resistance levels highlight its potential for further gains. Traders should watch for the $1.2-$1.3 resistance zone and monitor trading volume to gauge the strength of the bullish trend.   Jupiter's journey from its recent lows to its current position showcases its resilience and potential for future growth. As the market evolves, JUP's ability to maintain its support levels and breach new resistance points will be critical to its continued success.  

With the likely approval of a spot Ethereum exchange-traded fund (ETF) on July 23, the cryptocurrency world is buzzing about the potential for a Solana spot ETF. Whether the SEC reviews these filings with a decision due by March 2025 and an SOL ETF becomes reality or not, check out various Solana price predictions and insights on a potential spot Solana ETF approval by the US SEC.    Quick Take VanEck and 21Shares file for the first spot Solana ETFs, indicating significant institutional interest. The SEC's decision on these ETFs is expected by mid-March 2025, a crucial date for Solana investors. Approval of a spot Solana ETF could drive significant institutional investment, boosting liquidity and price. Analysts foresee potential all-time highs, with predictions ranging from $550 to $950. What Is Solana (SOL)? Solana (SOL) is a fast, scalable, and user-friendly layer-1 blockchain platform that handles more transactions per second with significantly lower fees than other blockchains like Ethereum. It uses a unique combination of proof-of-stake (PoS) and proof-of-history (PoH) consensus mechanisms for efficiency and allows developers to create decentralized applications (dApps) using smart contracts. Solana's high speed and low transaction fees make it ideal for various applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), blockchain gaming, supply chain management, and payments, offering a secure and cost-effective solution across industries.   VanEck, 21Shares Solana ETF Filings Spark Market Excitement Solana (SOL) is capturing the crypto community's attention with the recent filing of the first spot Solana ETF by VanEck, followed closely by 21Shares. This move has significant implications for Solana's price and market position, potentially marking a turning point for this prominent altcoin.   VanEck's spot Solana ETF filing with the Chicago Board Options Exchange (CBOE) and 21Shares' subsequent filing has set the stage for a significant development in the crypto market. The Securities and Exchange Commission (SEC) has until mid-March 2025 to approve or reject these filings. If approved, these ETFs could pave the way for increased institutional investment in Solana, driving its price higher.   Read more: VanEck Files for First Solana ETF in the U.S.: A Potential Game-Changer?    Is There a Futures-Based Solana ETF? A futures-based Solana ETF isn't currently available to trade on any U.S. market, but there are ETF-like products investors can buy, including the Grayscale Solana Trust (GSOL), which is a closed-end fund, and VanEck Solana, which is an exchange-traded note (ETN).   Will the Market Get a Solana ETF? The recent approval of spot Ethereum ETFs has fueled speculation about a Solana ETF; however, that does not automatically translate into approval of other crypto ETFs.   “It’s unlikely that the approval of ETH will result in a large wave of approvals,” Ophelia Snyder, co-founder and president of 21.co — a sponsor and subadvisor for ARK Invest’s spot ether ETF — told Cointelegraph.   The future of a Solana ETF depends on regulatory decisions and how Solana addresses potential centralization issues. U.S. politics may also weigh into the decision and timeline of the next crypto ETF.    For example, Bloomberg analyst Eric Balchunas told etf.com that the Ethereum ETF approval was likely fast-tracked by former president and current Republican presidential nominee frontrunner Donald Trump’s statement at a May 8 rally, saying, “If you’re pro-crypto, you have to vote for Trump.” Balchunas added that “the Dems don’t want to be seen as anti-crypto anymore.”   The imminent launch of the first spot Ether ETFs has opened the floodgates for more crypto exchange-traded products, including a potential Solana-based ETF. The first batch of spot Ether ETFs will pave the way for more crypto ETFs, according to Eric Balchunas, a senior ETF analyst at Bloomberg.   Circle Mints $250M USDC on Solana: A Promising Sign? On July 10, 2024, Circle, a prominent stablecoin issuer, minted $250 million worth of USDC on the Solana blockchain. This significant influx has bolstered market optimism surrounding Solana ETFs, potentially impacting the token’s price trajectory positively.   At the time of writing, Solana price is trading at $143.85, reflecting an 8.14% increase over the past week. The recent minting of USDC on Solana suggests a growing demand for the underlying asset, SOL. This move aligns with Circle’s stated mission to enhance liquidity on the Solana network, a commitment reaffirmed through this substantial injection.   Solana Price Prediction if Solana ETFs Are Approved Market indicators are aligning favorably for Solana. The Moving Average Convergence Divergence (MACD) indicator has recently experienced a bullish crossover. This occurs when the MACD line crosses above the signal line, suggesting growing positive momentum for Solana.   This bullish crossover indicates increased buying interest, which could support further price gains for Solana. The overall market sentiment is turning bullish, a crucial factor as the crypto market recovers from recent downturns.   Read more: Solana (SOL) Daily Transactions Rise 34% in June Amid Bullish Spot ETF Sentiment   Critical Support and Resistance Levels As of now, Solana is trading at $159, having rebounded from a critical support level of $126. This level has been tested multiple times over the past few months. The next significant resistance level for Solana is at $160. If Solana can breach and establish $150 as a new support floor, it could pave the way for further price increases, potentially flipping the crucial $160 resistance into support.   However, if Solana fails to hold the $126 support level, it could face significant losses, potentially dropping to $100 and invalidating the current bullish outlook.   Solana technical analysis | Source: X   Supertrend Indicator: Buy SOL at $125, But Resistance at $160?  The Supertrend indicator on the daily chart is generating a buy signal at $125.18, supporting the notion that SOL price could maintain its upward momentum. The Supertrend, which highlights trends and signals buy or sell actions, currently shows the green area below the price, indicating a bullish signal.   Additionally, the MACD indicator, which uses 12-day and 26-day moving averages to gauge trend strength, is also in positive territory. This further corroborates the bullish outlook for SOL price, suggesting that it could continue to rise towards $160, where it might face resistance.   Analyst Price Predictions: Can SOL Price Cross $950? Solana price chart | Source: TradingView    Analyst Ali Martinez recently forecasted that SOL could potentially follow a similar pattern to its 2021 breakout, with a long-term price target above $950 by the end of the current bull cycle. This optimistic projection is grounded in past performance and current market trends.   Moreover, the Fibonacci Retracement indicator identifies key support and resistance levels for SOL, offering additional insights into potential price targets. These levels are crucial for traders looking to predict future price movements and make informed decisions.   SOL price under bear, baseline, and bullish scenarios | Source: Cointelegraph   According to a report on Cointelegraph, GSR Markets suggests that Solana ETFs in the US could boost SOL price by a factor of 9. GSR's estimates range from $149 reaching over $1,320 in a bullish scenario.   What Would a Spot Solana ETF Mean for the Crypto Market? The potential approval of a spot ETF for Solana holds broader implications for the crypto market. A spot ETF allows investors to buy shares that represent actual ownership of the underlying asset, in this case, Solana. This differs from futures-based ETFs, which derive their value from contracts betting on the future price of the asset.   Approval of a spot ETF for Solana would likely increase liquidity and accessibility for institutional investors, who may have been hesitant to invest directly in cryptos due to regulatory and custodial concerns. This increased institutional participation could drive significant price appreciation for Solana and enhance its market stability. For instance, US-based spot Bitcoin ETFs have recorded over $16 billion in inflows since their launch in January, according to a news report on CoinDesk.    Conclusion The filing of the first spot ETF for Solana by VanEck and 21Shares marks a significant development for the crypto. With the SEC’s decision pending until March 2025, the anticipation surrounding these applications could contribute to short-term price volatility. However, the bullish crossover in Solana’s MACD and the potential for breaking key resistance levels suggest a positive outlook for SOL.   Investors and traders should keep a close eye on Solana price movements and market sentiment as the approval process unfolds. The introduction of a spot ETF for Solana could be a game-changer, fostering greater adoption and investment in this promising altcoin. As always, market participants are encouraged to stay informed and consider the broader market conditions.  

Solana (SOL) has seen a significant increase in on-chain activity recently, with daily transactions rising by 34% in June, according to a report on Crypto News. This surge comes amid speculation surrounding the potential launch of Spot Solana ETFs. VanEck and 21Shares were the first to file for these ETFs, igniting early-stage excitement among investors.   Quick Take  VanEck and 21Shares file for Spot Solana ETFs, sparking investor excitement, and driving Solana price to $153. Daily transaction volume increased by 34% in June. Solana dominates 25% of DEX trading volume and ranks fourth in NFT sales, as per data on The Block. VanEck made the initial move by filing for a Spot Solana ETF. Not long after, 21Shares followed suit. The filings have created a buzz in the crypto community, with many anticipating the possible outcome of these proposed crypto funds.   Read more: VanEck Files for First Solana ETF in the U.S.: A Potential Game Changer?   Why a Solana ETF Makes Sense Cboe Exchange confirmed that VanEck intends to introduce a Solana-based Exchange-Traded Fund (ETF). Matthew Sigel, VanEck’s Head of Digital Assets Research, clarified that the choice of Solana over XRP was driven by technical and regulatory factors. He emphasized that no single entity holds control over 20% of the Solana network or has the capacity to halt the chain, underscoring the importance of decentralization.   Challenges of Spot XRP ETFs Addressing the potential for an XRP ETF, Sigel identified two main challenges: internal convention and customer demand. These factors make XRP a less likely candidate for consideration. The ETF decision-making process involves multiple stakeholders, including exchanges, market makers, and custodians, who engage in complex deliberations.   Ethereum vs. Solana: ETFs Solana market dominance | Source: VettaFi    Sigel noted that the decentralization characteristics and blockchain structure of both Ethereum (ETH) and Solana (SOL) are similar. This aspect is crucial for asset managers, as the SEC has frequently highlighted decentralization in its crypto assessments. Matthew Sigel expressed confidence in the prospects of a Solana ETF, despite the challenges posed by the lack of a regulated futures market. He highlighted VanEck’s successful deployment of Solana ETFs in Europe, which positions them advantageously in navigating regulatory hurdles and market dynamics for innovative financial products.   A recent review identified the existence of a federally-regulated futures market as a key criterion for an asset to be considered for ETF approval. Currently, only Bitcoin (BTC) and Ethereum (ETH) meet this requirement. Sigel pointed out that several ETFs in the market do not have a significant futures market, suggesting this precedent might facilitate the approval of the first Solana ETF in the US.   Sigel outlined the steps necessary for bringing a Solana ETF to market, emphasizing the need for regulatory clarity. He indicated that once a SOL ETF is established, issuers might explore ETFs for other proof-of-stake coins. Over time, the foundational elements could lead to the development of top 5 or top 3 ETFs.   Read more: Solana vs. Ethereum: Which Is Better in 2024?   Political Impact on Solana ETFs A senior Bloomberg ETF analyst, Eric Balchunas, highlighted the political implications of the Solana ETF approval. The final deadline for approval is mid-March 2025, with the outcome of the U.S. presidential election in November playing a crucial role. If President Joe Biden is re-elected, the ETFs are likely “dead on arrival.” Conversely, if former President Donald Trump wins, the approval of Solana ETFs becomes more probable.   Solana Price Surges to $153 on ETF News SOL/USDT price chart | Source: KuCoin    The news of the Spot Solana ETF filings had an immediate positive impact on Solana’s price. After dropping from a June high of $175 to a monthly low of $124, Solana’s price shot up to $153 following the ETF news. This excitement has led to a significant increase in on-chain activity.   On-Chain Activity Surge Solana’s daily transaction volume increased from 32.7 million at the start of June to 43.8 million by the end of the month, marking a 34% growth. The Block also reports the highest non-vote transactions on Solana in the past two years. Additionally, Solana claimed 25% of trading volume in the decentralized exchange (DEX) market, recording $38.4 billion in June and ranking fourth in NFT sales.   Read more: Solana Flips Ethereum in Daily Active Addresses in June: CMC H1 2024 Report   Despite the recent spike in activity, Solana is trading at $135 as of this writing. The cryptocurrency has shown a 620% growth in the past year, and the ongoing buzz about Spot Solana ETFs is set to push it higher.   Solana’s Market Sentiment Remains Bullish for the Long Term The sentiment around Solana remains neutral according to analysts. The token’s circulating supply is 463.962 million SOL, with a total supply of 579.994 million SOL. The token’s market cap is $67.08 billion, making it the 5th largest cryptocurrency in the global market. The traded volume of Solana was worth $1.8 billion in the last 24 hours, with a market cap dominance of 2.97%.   Solana has shown resilience by rebounding from a recent low, advancing by 20%. Despite trading below its 50-day EMA, indicating short-term bearish pressure, the 50-day and 200-day EMAs suggest a long-term bullish sentiment. Technical indicators show mixed signals, with a neutral sentiment overall. The market awaits further developments, especially with the potential impact of the upcoming Solana ETF.   Solana Token Unlocks Solana token allocation and token unlock progress | Source: Coinmarketcap    Solana’s 89.56% of tokens are unlocked, resulting in 662.73 million SOL, with 77.27 million Solana tokens still locked. The fully diluted market cap of Solana is worth $83.186 billion, and 8.53% of the token supply is distributed among Solana’s team.   Conclusion VanEck’s decision to pursue a Solana-based ETF reflects a strategic approach influenced by technicalities and regulatory considerations. The emphasis on decentralization and the potential to navigate existing regulatory frameworks are central to this initiative. As the cryptocurrency landscape evolves, VanEck’s efforts to introduce a Solana ETF underscore the dynamic nature of the market and the ongoing quest for regulatory clarity. This development highlights the broader trend of integrating blockchain technology into mainstream financial products, paving the way for future innovations in the ETF space.    

As the crypto market gears up for what could be the biggest bull run in history, investors are focusing on promising altcoins. Among the top contenders are Kaspa (KAS), NEAR Protocol (NEAR), Solana (SOL), Toncoin (TON), and TRON (TRX). These projects are capturing investor interest and showing serious potential for massive gains.   Quick Take  Kaspa (KAS) reached an all-time high, showcasing strong investor interest and a bullish outlook for its future. NEAR Protocol (NEAR) is driving growth with AI-focused initiatives, enhancing its technological capabilities and user experience. Solana (SOL) maintains stability with swift transaction processing and solid infrastructure, attracting a robust developer and investor base. Toncoin (TON) offers scalability and ease of use, being created by Telegram and favored for its low transaction costs. TRON (TRX) is a prominent player in decentralized digital entertainment, consistently growing its network activity and value. Kaspa (KAS) Hits a New All-Time High KAS/USDT price chart | Source: KuCoin    Kaspa (KAS) is making waves with its privacy-focused blockchain platform. On June 30, Kaspa hit an all-time high price of $0.19. This peak highlighted significant investor interest, signaling Kaspa’s path to major growth this year.   Kaspa’s unique attributes include fast transaction speeds and efficient, stateless money solutions. The platform also boasts a rising hash rate and a growing number of miners, indicating increasing interest and profitability in mining Kaspa. Recently, Marathon Digital announced its intention to mine $16 million worth of KAS, further boosting confidence in Kaspa’s future prospects.   Despite a recent correction, Kaspa remains robust with a strong buying pressure indicated by its RSI. Analysts project Kaspa could see a 100x increase from its current price, potentially reaching $18 by June 2029. This optimism is fueled by significant institutional inflows from entities like Fidelity and Ark Investment, indicating a strong foundation for future growth.    NEAR Protocol (NEAR) Focusing on AI NEAR Protocol crosses 450 million transactions | Source: Flipside on X   NEAR Protocol (NEAR) has seen substantial growth in token price and transaction volumes since early 2024. The launch of innovative features like Chain Signatures and the integration of HERE Wallet with Telegram have significantly enhanced NEAR Protocol’s accessibility and user experience.   NEAR Protocol’s focus on AI has been a key driver of its growth. Initiatives like the NEAR.AI R&D Lab aim to improve consensus algorithms, enhance security, and introduce new economic models. These advancements make NEAR Protocol a standout in the blockchain space.   With over 450 million transactions and 12.3 million unique addresses, NEAR Protocol has captured significant market attention. The recent surge in transactions and new addresses has positively impacted NEAR’s price, positioning it for potential upward movement. The Money Flow Index and MACD indicators suggest a bullish trend, with increased user engagement driving market sentiment.   Solana (SOL): The Top Challenger to Ethereum  Solana (SOL) is known for its swift transaction processing and solid infrastructure. As a Layer 1 solution, Solana has built a large following, showcased by its vibrant ecosystem and the increasing number of developers crafting decentralized apps.   Despite recent market fluctuations, Solana has maintained a stable price. It currently stands at $141, reflecting a 5% rise since yesterday and a substantial 612% increase over the last year. Solana's position as the fifth-largest cryptocurrency by market cap highlights its significant investor trust and potential for further gains this summer.    ​​The Coinmarketcap H1 2024 report reveals that Solana has surpassed Ethereum in daily active addresses, reaching over 1.6 million in June 2024 compared to Ethereum's 450,000. This shift is driven by the rising popularity of Solana's memecoins. Solana's ecosystem has seen faster growth in new token listings and significant gains in its memecoin market cap, highlighting its growing influence.    Read more: Solana Flips Ethereum in Dai;y Active Addresses in June: CMC H1 2024 Report    The potential launch of a spot Solana ETF could further drive its value. If approved, such an ETF could push Solana’s price up to $1,300, mirroring the financial trajectory seen with Bitcoin’s own ETF developments. This anticipated approval underscores the growing institutional interest in Solana and its long-term potential.   Read more: VanEck Files for First Solana ETF in the U.S.: A Potential Game Changer?    Jump Crypto is offering a bug bounty program for the upcoming Firedancer validator client, with a reward pool of $1 million paid in USDC. Participants have a chance to earn up to $1 million by finding bugs in Firedancer, aimed at improving Solana's network performance. Firedancer, led by Cantelope Peel, is expected to play a crucial role in Solana's network by processing transactions efficiently. Implemented in C and C++, Firedancer aims to increase the speed of the Solana network and is actively being tested for optimal performance.   Toncoin (TON): Boosting Web3 Adoption with Telegram Games Toncoin spot volume rises | Source: Santiment   Toncoin (TON), created by Telegram, offers advanced layer-1 infrastructure with low transaction costs and quick processing speeds. This platform caters effectively to a broad audience, distinguishing itself through its scalability and ease of use. The Open Network (TON) has enjoyed a surge in TVL and adoption amid the rising popularity of Telegram-based crypto games, including Notcoin, Hamster Kombat, TapSwap, and Pixelverse. Boasting millions of players, each of these games has the potential to onboard several web2 users into the web3 world. The TON blockchain’s integration with Telegram helps the ecosystem enjoy the most uptick as these games move into the crypto space and launch their respective tokens. While Notcoin had around 35 million players at the time of the NOT token launch, Hamster Kombat already boasts over 239 million users before the upcoming HMSTR TGE and airdrop.    The price of Toncoin is currently $7.59, with a 5% increase within the last day and a 4% gain this month. Over the last year, Toncoin has surged by 451%, marking it as a promising investment. Toncoin's position as the eighth-largest cryptocurrency by market cap indicates its strong market trend and potential for high returns.   TRON (TRX): A Decentralized Entertainment Leader TRON’s average daily transactions climb steadily | Source: TRONScan    TRON (TRX) has emerged as a prominent player in the decentralized digital entertainment sector. Over the past year, TRON’s value has increased by 67%, drawing significant investor attention. The platform's expanding Total Value Locked (TVL) demonstrates its growing role in the decentralized finance (DeFi) ecosystem.   TRX trades at $0.13 with a market capitalization of $11 billion, positioning it as the 11th largest cryptocurrency. This strong market position reflects robust investor confidence and potential for further growth in the upcoming bull run.    Conclusion As the summer progresses, keep an eye on these altcoins. Their innovative approaches and expanding user bases could lead to significant market gains. However, always remember that investing in cryptocurrencies carries risks. Market volatility and macroeconomic factors can impact prices, so it's crucial to conduct thorough research and consider your risk tolerance before investing.