Solana’s declining DEX volumes raise the likelihood of a SOL price correction to $75, but the network’s DApp revenue highlights its resilience. Key takeaways: Solana outperforms Ethereum in high-revenue DApps, providing a fundamental cushion against recent price drops. Rising Ethereum Layer-2 dominance challenges SOL as traders monitor the critical $80 support level for a retest. Read more
Solana is aiming to attract enterprises and financial institutions to its ecosystem through a new unified developer platform, which is focused on tokenization and stablecoins. The Solana Foundation has revealed it has secured Mastercard, Worldpay, and Western Union as early users of its newly launched developer platform, as part of ongoing efforts to attract enterprises to build on its blockchain. The Solana Developer Platform (SDP) was announced on Tuesday to enable enterprise developers to build on the blockchain using a unified interface. Much of the focus is on real-world asset tokenization, including stablecoins, which is currently a $328 billion market, according to rwa.xyz. More than half of the total value is held on Ethereum; however, with Solana holding 6.3% share of the tokenized real-world asset market. Read more
The startup’s smartphone-based biometric system aims to help crypto platforms detect AI-generated accounts while preserving user privacy through onchain verification. Startup VeryAI has raised $10 million in a seed funding round led by Polychain Capital to launch a palm-scan identity verification system designed to distinguish real users from AI-generated accounts. The platform records identity attestations on Solana and aims to help crypto exchanges, fintech companies and online platforms address growing risks from bots, deepfakes and synthetic identities. The company said zero-knowledge proofs allow users to verify their status across platforms without revealing personal information. The system captures palm images using a smartphone camera and converts them into encrypted biometric signatures used to confirm that a user is human without storing identifiable data. Read more
The infrastructure provider will support the planned launch of Western Union’s USDPT stablecoin on Solana, linking blockchain payments to its global payout network. Crossmint has partnered with Western Union to support the launch of the remittance company’s USDPT stablecoin and its new Digital Asset Network on the Solana blockchain. Wednesday’s announcement said the collaboration will integrate Crossmint’s wallet and payment APIs with Western Union’s infrastructure, allowing fintech platforms to move funds using the stablecoin and connect to Western Union’s global payout network. That Digital Asset Network is intended to link stablecoins with the company’s existing payout infrastructure, enabling users to convert digital dollars into local currency through its network of more than 360,000 cash pickup locations worldwide. Read more