Latest Solana News

As Solana continues to benefit from low transaction fees and impressive scalability, tokens such as Bonk (BONK) and Arweave (AR) are experiencing notable growth. Bonk, a community-driven memecoin, has reached a market cap of $1.4 billion, currently priced at $0.0000205. Despite a recent 10% drop, Bonk has shown resilience with a staggering 9517% increase over the past year. Technical indicators suggest a neutral stance, with a rising Chaikin Money Flow (CMF) indicating potential capital inflow and investor confidence, even as the broader crypto market faces challenges. Arweave (AR), which focuses on decentralized permanent data storage, boasts a market cap of nearly $1.2 billion. While it has seen a 2% drop today and a 25% decline over the past week, its yearly performance remains strong with a 347% surge. Current technical analysis shows neutral oscillators and a sell signal from moving averages, with the Relative Strength Index (RSI) at 38, suggesting it may be undervalued. The community's bullish sentiment could propel Arweave to new heights as demand for reliable data storage solutions grows. Emerging on the scene is Cutoshi (CUTO), a utility-based meme coin that could potentially outshine both Bonk and Arweave. Currently in its presale stage, Cutoshi operates as a multi-chain decentralized exchange (DEX) with a unique tokenomics model designed to create scarcity and buying pressure. Analysts predict that Cutoshi could see significant growth following its Centralized Exchange (CEX) listing, with potential for a x100 increase in value. As the meme coin market expands, Cutoshi is well-positioned to capitalize on this trend, making it a noteworthy token to watch in the evolving blockchain landscape.

**Decentralized Physical Infrastructure Networks (DePINs)** DePINs have emerged as a critical part of the blockchain industry, disrupting traditional infrastructure models in data storage, computing power, and connectivity. The market cap for DePIN projects is estimated at $20 billion, attracting investments from top venture capital firms like Andreessen Horowitz and Binance Labs. Projects such as IoTeX and Akash Network are successfully onboarding contributors to their decentralized networks, with IoTeX having over 100,000 connected devices and Akash Network boasting more than 50,000 contributors for decentralized cloud computing. The potential for DePIN to transform markets like the Internet of Things (IoT) is significant, especially with the IoT market projected to reach $500 billion. DePIN, short for 'decentralized physical infrastructure networks,' utilizes blockchain to maintain networks of physical hardware, offering solutions in various applications like sensors, wireless infrastructure, and energy grids. By incentivizing peer-to-peer hardware infrastructure through cryptocurrency tokenomics, DePIN projects are gaining traction in sectors like road mapping, telecommunications, and data storage.

At the recent Token 2049 and Solana Breakpoint conferences, analysts noted the dominance of both AI and DePIN as the most promising use cases for blockchain technology. These conferences delved into the exploration of promising protocols and rising trends within these sectors. Furthermore, the surprise of continued institutional adoption of Solana was a key point of discussion. This unexpected trend showcases the growing interest and trust from traditional financial institutions towards Solana's blockchain ecosystem.

Render's on-chain metrics, such as increased holder count and community growth, indicate a healthy ecosystem. Derivative market analysis shows a strong bullish sentiment for the Render price. As Q3 ends and Q4 approaches, Render (RENDER) price is gaining significant momentum. This Render price surge is driven by positive market sentiment, with Bitcoin rallying in September. Major partnerships and numerous updates enhancing GPU rendering applications also boosted the optimism in Render crypto. A well-known crypto analyst even believes that RENDER might claim the $100 milestone soon. Will it? Let’s find out. **Why Do Analysts Look Bullish Toward the RENDER Price?** The Render Network is emerging as a key player in the tech space, particularly for creators, artists, and enterprises seeking scalable, high-performance rendering solutions. The Render token price recently skyrocketed from its demand zone, climbing nearly 35% this week. It has effortlessly pierced through the 20-day and 50-day EMA bands on the daily chart. With growing optimism, many are speculating about future price targets, fueling global bullish sentiment. One notable prediction came from crypto YouTuber D0c Crypto (@TheRealD0c). This analyst believes the Render price could reach $100 or beyond this year. **What Factors Support Further Surge in RENDER Price?** Render Network’s rise as a key player in the tech industry has solidified its reputation as a key crypto asset. Optimism around Render crypto has surged for several reasons. It secured major partnerships this year with industry giants like Nvidia, Apple, Google, and Microsoft. Those companies are leveraging Render’s decentralized network and enhancing Render’s position as an asset. The involvement of those prominent names has significantly boosted sentiment within the community. It could boost further Render price growth in the future. Correspondingly, an update about the cloud storage release that came on September 5th, 2024, propelled Render token’s price from its demand zone at the start of September. The integration with AWS S3 and Dropbox now allows artists and studios to seamlessly download files directly from the Render Network to cloud storage providers. That eliminates the hassle of extra downloads and uploads. Additionally, On September 20th, Render announced a major update on its official X account. The update revealed that 60% of its circulating supply, valued at nearly $2 billion, has transitioned from Ethereum to Solana. That made it the largest project on the Solana network. This significant move has further fueled the RENDER price surge, as reflected in its daily chart. **On-chain Data Shows Optimism For Render Price** Over the past month, Render crypto has demonstrated an impressive holding pattern. In the last 30 days, the number of holders has grown exponentially. That number reached a total of 83,229, with 23 new holders added in the past 24 hours. The community has also seen significant growth, now totaling 199,292 members, with 74 new subscribers joining in the past day on X. Render’s X account, which is 7 years and 1 month old, is one of the oldest in the crypto space, enhancing its trust within the community. To date, the account has made 10,159 posts, including 3 new posts in the past day. Overall, Render’s on-chain activity appears healthy, positioning it as an optimistic asset. **Security Score** The RENDER token boasts solid fundamentals that enhance its strength. Its impressive security score further boosts users’ trust, as it is less likely to be hacked or compromised by criminals. With an AA tier security grade and a score of 88.25 out of 100, it stands out as a robust and reliable asset. Render Price Analysis in Derivatives Market Exhibits Heightened S

**Cryptocurrencies Poised for Growth in Q4 2024** As the end of 2024 approaches, investors and traders are eagerly anticipating the next big surge in the cryptocurrency market. Three standout coins are predicted to dominate in the final quarter, with key factors driving their potential success. - **Artificial Superintelligence Alliance (FET)** Artificial Superintelligence Alliance (FET) is currently trading between $1.14 and $1.49. Despite facing resistance at $1.65, a potential rally could push FET towards $2.01, signaling a significant gain. With fresh momentum, FET might challenge the resistance and pave the way for a sustained rally. - **Bittensor (TAO)** Bittensor's price fluctuates between $250 and $345, with resistance levels at $386 and $477. Recent growth of 43% weekly and 46% monthly may be limited by current resistance levels. Breaking past the first resistance could lead to further gains. - **Solana (SOL)** Solana's price ranges from $125 to $139, facing resistance at $146. Despite recent minor rises, overcoming the resistance is crucial for a potential climb to $159, marking a significant gain. **Conclusion** As we head into the final quarter of 2024, FET, Bittensor (TAO), and Solana (SOL) emerge as prime contenders for growth in the cryptocurrency market. Overcoming resistance levels and gaining bullish momentum will be key for these assets to break out and offer investors significant gains. Disclaimer: This article is for informational purposes only and not intended as financial advice.

Deus X Capital has recently launched Solstice Labs, a business focusing on providing institutional-grade decentralized finance (DeFi) investment products. This move comes shortly after the introduction of Cor Prime, a prime of prime broker by Deus X Capital. Solstice Labs was unveiled at the Solana Breakpoint 2024 event at Token2049, with plans to debut its first project on the Solana blockchain in early 2025. The project aims to offer enhanced yield opportunities and will start with over $100 million in total locked value, supported by Deus X Capital. Deus X Capital CEO Tim Grant, who is also the co-founder and chairman of Solstice Labs, emphasized the importance of this new venture in bridging traditional capital markets with the crypto and DeFi ecosystems. Additionally, Deus X Capital has committed up to $100 million in risk capital to Cor Prime, which is set to begin commercial lending in 2025 pending regulatory approvals in Bermuda and Abu Dhabi. The company's ecosystem is further strengthened by its liquidity provider Alpha Lab 40 and software and AI business APEX:E3, in which Deus X Capital made a strategic investment in July. Alpha Lab 40, founded by Stuart Connolly, operates under the leadership of Grant, who also chairs APEX:E3. Deus X Capital's involvement extends to incubator projects like TradeLocker and FunderPro, as well as the creation of Bridgetower Middle East in partnership with Bridgetower Capital. This crypto infrastructure platform, established in the Abu Dhabi Global Market with $250 million in funding, showcases Deus X Capital's commitment to fostering innovation and growth in the digital asset space.

Solana recently unveiled its second-generation mobile phone, the Solana Seeker, during the Token2049 event. This new phone aims to address the shortcomings of its predecessor, the Solana Saga, which initially faced criticism for its high price tag. Despite the initial skepticism, the Saga gained popularity after the introduction of BONK rewards, leading to a surge in resale prices. Now, all eyes are on the Solana Seeker to see if it can replicate its sibling's unexpected success. The Solana Seeker has already garnered significant attention, with 140,000 pre-orders from 57 countries. Formerly known as the 'Chapter Two' project, the new phone has exceeded the demand for its predecessor by fivefold, securing $70 million in pre-orders. To further entice customers, Solana has offered a limited-time promotional price of $450 until Sept. 21 as part of its Founder Window launch strategy. The company claims that the Seeker represents a substantial upgrade over the Saga, particularly in areas such as Web3 accessibility, DeFi applications, and on-device security.

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.