Solana Pay, a decentralized payment protocol built on the Solana blockchain, has integrated with Shopify, allowing businesses on the platform to use it for payments, initially with USDC as the payment option and potential future inclusion of other cryptocurrencies like SOL and BONK; the integration offers fee-free transactions and the ability to set up loyalty programs with ease.
Solana-based decentralized exchange Cypher plans to hold a token sale to recover from a hack, with proceeds being used to fund development and repay investors who lost their deposits.
Collapsed crypto exchange FTX's new management is potentially planning to sell its large holdings of Solana (SOL) cryptocurrency, prompting Solana co-founder Anatoly Yakovenko to suggest distributing the SOL to ex-FTX customers as a "win-win" solution.
Changex, an all-in-one mobile wallet, aims to attract traditional finance users to decentralized finance by offering easy-to-use DeFi functionality in a familiar environment and combining centralized and decentralized finance in a single screen. Users can trade, buy, sell, and transfer crypto, as well as stake assets and earn rewards, with plans to launch a Visa Debit Card and IBANs for managing fiat assets in the future. Changex has been selected as a participant in the Cointelegraph Accelerator program and plans to integrate the Avalanche blockchain and introduce leveraged staking functionality.
Solana (SOL) has significant upside potential as an Ethereum (ETH) competitor, with key advantages in various categories and increasing institutional interest.
Mirae Asset Securities, South Korea's largest financial group, is partnering with Ethereum scaling platform Polygon Labs to promote tokenization in finance and drive the adoption of Web3 technologies. Through the collaboration, Mirae aims to establish itself as a global leader in tokenized securities, bringing real-world assets onto the blockchain. Tokenization projects have already been initiated by other financial giants, and the industry is projected to grow significantly, reaching $16.1 trillion by 2030. The partnership is expected to accelerate the adoption of Web3 technologies in the financial sector and enhance interoperability with foreign financial systems.
Brine Fi, a decentralized crypto exchange (DEX), has raised $16.5 million in Series A funding at a valuation of $100 million, attracting investor interest due to its orderbook-based system and privacy features, as well as the recent scrutiny faced by centralized exchanges. The DEX aims to combine the benefits of a DEX and a centralized exchange (CEX) by offering features such as an orderbook and zero-knowledge proof technology to prevent frontrunning. Brine Fi is targeting both retail and institutional traders and plans to comply with potential regulatory requirements in the future.
Cardano and Solana are two cryptocurrencies that have the potential to surpass Ethereum in the long run, with Cardano's emphasis on decentralized finance and growth in emerging markets, and Solana's focus on mobile crypto and innovative blockchain technology. However, overtaking Ethereum, which has a first-mover advantage and a dominant position, is a challenging task.
Despite a recent surge, Solana (SOL) is still in a downtrend according to an analyst, who warns that the cryptocurrency's rally has consistently resulted in lower highs. The analyst suggests accumulating SOL below $20, and highlights the impact of bankrupt crypto exchange FTX's liquidation of its massive Solana holdings on SOL's price. Another investor remains long-term bullish on SOL despite FTX's holdings, noting that all coins have flaws and continue to reach new all-time highs.
A group of decentralized finance protocols in the Cosmos ecosystem, including Wormhole, Swing, Tashi, and Evmos, are collaborating to solve liquidity issues by introducing bridged tokens and integrating liquidity pools, allowing users to swap, borrow, and perform various DeFi actions.
