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- Solana hosted the Cypherpunk Hackathon with $2.5 million in prizes.
- Stablecoin supply on Solana reached a record $13.44 billion.
- Multiple startups raised fresh funding to expand Solana’s ecosystem.
According to the report, Solana kept its momentum this week with major events and announcements. The highlight came with the return of Colosseum’s Cypherpunk Hackathon. Builders from across the world entered the competition to showcase new ideas and products.
They competed for $2.5 million in prizes and money, and that was the biggest startup competition in the crypto sphere. It wasn’t the energy alone that was restricted to the hackathon. Various projects were launched, as also newer partnerships gave strength to the network.
National Bank of Kazakhstan launched the first KZTE stablecoin backed by tenge on Solana. It was accompanied by Mastercard, Intebix, as well as Eurasian Bank, demonstrating the old finance sector converging on blockchain-based solutions.
OSL Enables USDC and USDT Transfers on Solana
Novel products and integrations followed. OSL opened up USDC as well as USDT deposits as well as withdrawals on Solana. ParallelColony opened up early access only on the Solana Mobile Seeker for three months. Fluid opened up about expanding into Solana, as well as ATXP verified live support on the chain.
Announcements of funding added to the cheer. Raiku claimed $13.5 million during a Pantera Capital-led round. Melee Markets raised $3.5 million in pre-seed, aided by Variant Fund and DBA Crypto. BulkTrade then provided an $8 million seed round led by Robot Ventures and 6th Man Ventures.
These actions indicated increasing optimistiam among investors about Solana-based applications. Statistics confirmed the trend. Solana stablecoin supply hit an all-time high of $13.44 billion, as DefiLlama indicated. Tokenized real-world assets doubled to $671 million, yet another peak. These combined statistics reflected where the money is entering the chain.
Altitude Expands Cross-Border Payments to 150+ Countries
Developers kept on adding fresh features. DFlow Protocol introduced just-in-time routing to optimize trading execution. It is now possible to register .sol names and connect directly with MetaMask. Firedancer, the scaling client, suggested a change to eliminate fixed compute unit limits after the Alpenglow.
This would enable the skip of blocks that cannot be processed by the validators, bringing about more versatile block production. It was also announced that the Solana Accelerate APAC tour. It will make stops during this October in Beijing, Shanghai, Hangzhou, and Shenzhen. Altitude launched cross-border payment services, catering to companies that operate more than 150 countries.
The frequency of releasesmade it explicit: Solana still ships. Builders, investors, and institutions are all putting their energy into driving the ecosystem forward. Prior to Breakpoint Abu Dhabi, the steam doesn’t appear to be letting up.
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