What’s up everybody, it’s Thomas Bahamas and welcome back to another episode of Solana Weekly, where we break down the latest moves in Solana and figure out where we are going. We got an intro song, shout out to Suno.AI for the AI prompt for a song haha. We’ve got some seriously bullish news this week and it seems like we have finally hit the uponly part of the cycle. It feels great, I’m thoroughly enjoying it and will be spending the afternoon on the golf course as I should. Drip.Haus has just raised a bunch of money, and rightfully so because they are crushing it. Shout out to Morning Pumpkin for the support, hope you got yourself a pumpkin spice latte and are diving into fall like a Taylor Swift fan.
First up, let’s talk Solana pricing:
• Solana (SOL): $143 – The pump is real, up from last week’s $135. We are at the highs of the week and shoutout to Jerome Powell for pumping our bags. Not sure if any of you remember pager code, but back in the day 143 meant I love you, so it’s a love note from the blockchain.
• SOLETH: 0.058– Slight movement upward, signaling some fresh strength.
• SOLBTC: 0.00225 – Staying consistent and solid, a strong hold in the BTC pair while BTC is catching a bid.
Macro Take: The recent 50 basis point rate cut from the Fed caught the markets by surprise and launched a serious rally. Everyone expected 25 points, but the 50-point cut is pumping risk assets hard. The markets seem lined up for a big pump, especially with Bonk and the explosion of meme coins on Solana making headlines.
Let’s talk Bonk. If you didn’t believe in Bonk, you might want to reconsider. It’s been perfectly primed for this moment. With 20 million meme coins launched on Solana, we’re seeing just how great Bonk’s launch was in hindsight. Solana has now become the go-to chain for fun, community-driven launches, and Bonk is crushing it in Singapore, leading the charge at these crypto events.
Seems like a ton of big protocols have raised money recently with Helius coming in for a 21 million dollar round, Drift a 25 million dollar round, Drip.haus an 8 million dollar round and I’m sure there are some more I’m missing.
Big Update: The Solana Phone, the Seeker, is here!
Yes, you heard it right – Solana’s second phone just dropped, and it’s a game-changer. It’s packed with new features, including better integration for Web3 apps and native crypto wallet functionality. It seems like they are looking to address the issues from the last phone and release a bunch of fun new ways to interact with Solana. Seems like it’s lighter, longer battery, and brighter. It will have all of the latest features, and tons of new airdrops. It’s priced at $450, and will be coming out in early 2025. I’m pumped and have a total of 3 already ordered. Looks like 4 months of free connectivity with Helium, an AI agent incorporated, seed vault 2.0 brought to you by solflare.
Phantom usernames are released, I can’t seem to actually get one because the transaction isn’t going through, but they are live. Wish they would have just integrated bonfida’s domain system, way better to have one protocol across the board, but this must be an attempt to keep users on their wallet.
In other exciting news, Breakpoint 2024 is heating up. If you haven’t been paying attention, the action is moving fast, and the anticipation is high. Solana’s ecosystem is booming, and Breakpoint is set to be the flagship event. Between protocol upgrades and ecosystem development, it’s going to be wild. Expect some big reveals! Seems like Firedancer has already blown a bunch of people away, and there was a boxing event last night or this morning if you’re in the us.
Magic Eden teasing their airdrop again, get over yourselves and drop the damn token.
I locked up some funds on Adrena, which is a new derivatives protocol coming out soon, but a six month lockup of USDC with pretty solid looking returns. Also just a way for me to keep track of it, only put in $300.
Other shoutouts this week:
AI update - I have not been able to actually finalize building anything, we’ll see if it’s like one of those projects that never finishes or if it’s got legs and I can demand this agent finishes things. I’m actually having the time of my life playing around with this and think it 100% has legs. I got retweeted by the CEO of Replit so I’ve gotta say I still think it’s a game changer and you can follow Ordlibrary on Twitter to see all the things he’s been building.
Thanks for tuning in to Solana Weekly, and I’ll see you next time. Thomas Bahamas, out.
Solana Weekly #84 - Breakpoint Pumpin