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Solana

WalletConnect Token Lands on Solana With WCT Airdrop

by admin May 23, 2025

In brief

WalletConnect’s WCT token is launching on Solana.
The integration will be accompanied by an airdrop of 5 million WCT tokens to active Solana users.
Further chain integrations are “already in development,” WalletConnect told Decrypt.

WalletConnect Token (WCT) is launching on Solana, with 5 million WCT set to be airdropped to the blockchain’s active users.

The launch of WCT as a multichain token aims to open WalletConnect to new users and liquidity, and applications throughout the Solana ecosystem.

The WCT token powers staking and governance across WalletConnect’s network, and will be used for fees and rewards in the future. Current estimates suggest about 145,000 hold WCT—a figure that’s expected to rise given it’s now expanding to a blockchain with more than 100 million monthly active wallets.

In a statement shared with Decrypt, WalletConnect Foundation founder and director Pedro Gomes said the platform has made a concerted shift to becoming a “chain-agnostic protocol” in recent years, following its “very Ethereum-centric” beginnings.

“It makes sense that WCT, the native token, is also a multichain token,” Gomes added. “WalletConnect has been working closely with Solana teams over the past couple of months and I have been continuously impressed by the builders, the community and the energy of the Solana ecosystem.”

Wormhole Foundation’s CCO and co-founder Robinson Burkey said that WCT’s expansion “is a clear signal builders and users want fluid, secure movement of value across ecosystems.”

“A multichain journey”

Further chain integrations are “already in development” as WalletConnect builds out its roadmap—and as its native token becomes more widely available, new governance features and token-based incentives will be unveiled to give the community a greater role in its future.

This latest airdrop also comes hot on the heels of 50 million WCT being distributed to WalletConnect users last year.

Several prominent Solana apps already rely on WalletConnect’s infrastructure—including lending platform Save, perpetual futures exchange Drift, and DeFi protocol Kamino Finance.

Figures from the protocol suggest that, since launching in 2018, it has facilitated more than 278 million connections along with 45 million unique active wallets.

In a statement shared with Decrypt, WalletConnect said that its arrival on Solana “marks the beginning of a multichain journey” that will build on its track record of enabling “secure and seamless connections” between apps and wallets.

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May 23, 2025 0 comments

NFT Gaming

Centrifuge Expands Tokenized Assets to Solana Starting With $400M Treasury Fund

by admin May 23, 2025

Tokenized asset platform Centrifuge said it’s expanding services on the Solana blockchain, starting with the $400 million tokenized U.S. Treasury fund managed by Anemoy (JTRSY).

The expansion builds on Centrifuge’s token standard — dubbed “deRWA tokens” — that allows token holders to freely transfer and use tokenized instruments across decentralized finance (DeFi) protocols.

In this case, the deJTRSY token can be swapped, lent, or used as collateral in, enables Solana users to earn yield from short-term Treasuries natively in Solana DeFi platforms, first on decentralized exchange Raydium, lending platform Kamino, and yield aggregator Lulo.

The rollout underlines Solana’s growing momentum in the tokenized RWA space, a red-hot sector that aims to brings traditional financial instruments like bonds, funds and credit onto blockchain rails. It’s a huge opportunity: Boston Consulting Group and Ripple projected that the tokenized asset market could reach $18.9 trillion by 2033.

This week, Solana Foundation partnered with bank-focused blockchain tech firm R3 to bring real-world assets to Solana, while Securitize-issued tokenized fund of Apollo credit assets is also being introduced to Solana-based DeFi protocols.

“Tokenizing assets is just the starting point,” said Bhaji Illuminati, CEO of Centrifuge. “What truly matters is giving real-world assets utility onchain: making them usable across the DeFi stack from day one.”

Read more: Major TradFi Institutions to Pursue Tokenization Efforts on Solana

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May 23, 2025 0 comments

Crypto Trends

Kraken to Offer Tokenized Stock Trading on Solana to Overseas Customers

by admin May 22, 2025

In brief

Kraken will offer so-called xStocks to overseas customers on Solana.
The initiative is being facilitated through a partnership with tokenization firm Backed.
The product is aimed at offering investors better access to U.S.-listed stocks globally.

Kraken will soon offer overseas customers the ability to trade U.S.-listed stocks through the crypto exchange’s platform, the company said in a press release on Thursday.

The offering, which covers more than 50 U.S.-listed stocks and exchange-traded funds, will be facilitated through a partnership with Backed, a firm specializing in tokenized securities, using the Solana blockchain to offer so-called xStocks, the company said.

Tokenization refers to the process of taking real-world assets, whether stocks or bonds, and representing them on-chain using digital assets. Kraken said that stocks will be represented on Solana using SPL tokens, a token standard mirroring ERC-20 tokens on Ethereum. xStocks, which will be issued on a public blockchain, are expected to trade around the clock.

According to Kraken, the exchange and Backed chose Solana as the first chain for xStocks because of its “unmatched performance, low latency and thriving global ecosystem.” However, the company said it will explore tokenized securities on other networks as well.

“We’re reimagining equities investing and ushering in a new wave of demand from clients seeking better alternatives to the status quo,” Mark Greenberg, Kraken’s global head of consumer, said. “Access to traditional U.S. equities remains slow, costly, and restricted.”

In April, Kraken began offering U.S.-listed stocks and ETFs to U.S.-based customers. The company says it is eyeing similar expansion in the UK, Europe, and Australia. The push comes as the exchange reportedly prepares for an initial public offering this year.

Among traditional financial institutions, tokenization has several backers. In 2022, BlackRock CEO Larry Fink hailed the concept as the future of markets, saying that blockchain-based plumbing could yield near-instantaneous settlement and reduced fees.

In the U.S., firms like Securitize have emerged as leaders in the tokenization space. The company manages BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) fund, which has a market capitalization of around $2.8 billion, according to analytics firm rwa.xyz.

Collapsed crypto exchange FTX waded into the tokenization space in 2020, when it began offering tokenized stocks for marijuana firms. Binance had dabbled in tokenized securities as well, including offering a version of Coinbase’s stock, at one point.

Tokenized stocks have a relatively nascent footprint compared to stablecoins or products like BUIDL. According to rwa.xyz, around $373 million worth of tokenized requites exist on-chain, namely Exodus Movement’s stock, which is issued by Securitize on the Algorand blockchain.

Edited by James Rubin

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May 22, 2025 0 comments

GameFi Guides

Why Solana Mobile Is Launching a Token Alongside Its New Android Phone

by admin May 21, 2025

In brief

The Solana Seeker smartphone will begin shipping worldwide on August 4.
The second-gen Android phone comes with new features that build upon the foundation of the original Saga device.
Solana Mobile also introduced a new token, SKR, which will become the primary asset of its decentralized mobile ecosystem.

The second-generation Solana mobile phone, the Solana Seeker, will begin shipping worldwide on August 4, Solana Mobile announced on Wednesday—with plans for a native ecosystem token, SKR.

The more affordable, Android-based Seeker phone will maintain the Solana Saga’s genesis token and hardware seed vault, while adding newer features such as SeekerID, the SeedVault Wallet, and an improved Solana Dapp Store.

“We spent the last few years focused on building what we think is the best possible crypto mobile experience,” Solana Mobile GM Emmett Hollyer told Decrypt. “We focused on usability, we’ve focused on security, we’ve focused on giving developers distribution. What we’re doing with this is we’re extending what’s possible, we’re decentralizing it, and we’re growing it with additional devices from other original equipment manufacturers in the future.”

2/ The Solana Mobile platform is growing — opening the door to more devices & more manufacturers — all powered by a decentralized architecture and economy.

Mobile users everywhere deserve a seamless, secure web3 experience — and we’ll be making it easy for OEMs to come onboard.

— Seeker | Solana Mobile (@solanamobile) May 21, 2025

The future, decentralized Solana Mobile ecosystem will be rooted in SKR, the native ecosystem token that will live on Solana’s layer-1 blockchain. He said that the token is designed to anchor a “future of a decentralized mobile platform” around the crypto phones.

But why not just use the existing Solana (SOL) coin?

“We see an opportunity to coordinate growth and change, and we want to make sure that the decisions that are made there are aligned around something that is fundamental to the mobile ecosystem, something that’s purely aligned with that ecosystem and its outcomes,” Hollyer said, adding that it’s critical that SKR be “solely representative of the Solana Mobile platform—and that’s it.”

Specific details about the token launch and how it will be earned have not yet been shared, but the Solana Mobile website indicates that SKR will go “directly to builders and users for ecosystem participation.”

“The token itself is bigger than any one device,” said Hollyer, noting that both the Saga and Seeker and any future devices brought into the Solana Mobile ecosystem will be able to participate in the economy, incentives, and ownership of the platform.

“We want to make sure that everybody who has joined the ecosystem so far comes along for the ride,” he said.

Aside from the token, the Seeker’s new infrastructure architecture is set to differentiate the device and Solana Mobile from today’s leading mobile device companies, opening its ecosystem and expanding its platform to allow additional hardware manufacturers.

“If you look at the existing mobile platform architectures, they are entirely closed. Whoever runs the platform, they manage everything,” said Hollyer. “Our goal is to build something that accomplishes a lot of the same critical outcomes that existing mobile platforms do well, things like trust, things like security… but we want to do that in a way that is decentralized.”

Therefore Solana Mobile introduced TEEPIN, a three-layer architecture model that allows ecosystem actors to participate in a secure and trustless way.

“TEEPIN represents the next evolution in mobile—a framework where trust isn’t granted by a central authority but verified through cryptography,” said Anatoly Yakovenko, co-founder and CEO of Solana Labs, in a statement. “By leveraging secure hardware that already exists on modern smartphones and governing access on-chain, we’re unlocking open innovation, platform ownership, and a decentralized future for mobile.”

With TEEPIN and Solana Mobile’s future decentralized ecosystem, Hollyer said that means builders don’t need to worry about app store rules and fees—and they can be sure their users are real.

The Seeker, which has earned more than 150,000 pre-orders, is still available for pre-order at $500 plus tax, for a limited time according to the Solana Mobile website. It arrives at half the launch price of the original Saga, but with various updates and apparent improvements over the model released in 2023.

“Our emphasis is on making the best possible crypto experience,” said Hollyer. “We think mobile is the way to do it, and we don’t think anybody’s cracked that code yet.”

Edited by Andrew Hayward

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May 21, 2025 0 comments

GameFi Guides

1,388,655 Solana Suddenly Moves On-chain, What’s Happening?

by admin May 21, 2025

Solana (SOL) is witnessing increased activity. In two separate transactions, Solana whales moved 1,388,655 SOL on-chain. Whale Alert, a platform tracking such large transactions in the market space, spotted transfers between unknown wallets.

Solana investors watch for follow-up whale moves

According to Whale Alert, the total value of both transfers is $235,449,867. The huge transfers caught the attention of the tracking platform, as they could have several implications for Solana’s price outlook.

Notably, when large holders move their assets, it could signal their intention to sell, redistribute or secure them. As for the current movement, it is worth noting that it was not sent to an exchange, so the holder might have been in a redistribution mood.

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However, it does not prevent the whale from proceeding to send to an exchange afterwards. In the meantime, no action has been taken.

Over the past seven days on the crypto market, Solana has continued to stagnate between $160 and $175. The token has been unable to find stability above the $175 level to support an attempt to hit $180.

As of press time, Solana’s price was changing hands at $171.84, representing a 3.27% increase in the last 24 hours. However, the ecosystem is witnessing a slight pullback from investors, as trading volume has slipped by 5.77% to $3.59 billion within the same time frame.

SOL technical indicators point to imminent test

Amid these developments, sentiment remains bullish for Solana to make a surprise comeback and surge toward the price of $200. The optimism rests on broader market indicators like the ongoing rally of Bitcoin, the leading digital currency.

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Additionally, Solana’s short-term exponential moving averages, such as the 26-day EMA, suggest a possible bullish setup for the coin.

However, Solana faces a crucial price test in its upward momentum as its 200-day Simple Moving Average highlights a major resistance at $181.

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May 21, 2025 0 comments

NFT Gaming

Bitcoin (BTC) Performs Mind-Blowing Comeback, Dogecoin (DOGE) Is Stuck, Solana (SOL) Can Surprise You With $200

by admin May 21, 2025

Dogecoin getting out
Solana can comeback

Bitcoin has just produced a classic example of market turbulence. After almost falling below the $100,000 mark, which was a sign of a possible trend reversal, Bitcoin made a stunning comeback, soaring back toward $105,000 and sending short sellers reeling. Bitcoin’s chart looked like a minefield for traders with leverage during the last few trading sessions. It turned out to be a classic fakeout, but a brief breakdown below the critical $100,000 level appeared convincing enough to cause widespread liquidations.

The swift recovery that ensued not only disproved the bearish structure but also demonstrated how resilient bulls are in the current market cycle. Overly leveraged volatile markets are characterized by this fakeout; fakeout behavior is a nightmare for anyone who is overexposed. The breakout penalized shorts, who believed they had the upper hand, while the breakdown flushed out longs, taking both long and short traders by surprise.

BTC/USDT Chart by TradingView

Technically, Bitcoin is currently trading just below recent resistance after regaining the local high. As of right now, there is not much evidence of bearish divergence, but momentum indicators are still hot, and the RSI is above 70, which may indicate overbought trading conditions.

The volume level is dropping a little, which could indicate a brief period of exhaustion or simply a cooldown before the next move. If Bitcoin can sustain this momentum and stay above $105,000, it could push toward new heights. The possibility of another trap or whipsaw move, however, is still very high — if it is rejected at this stage once more. Essentially, Bitcoin has once again demonstrated why it is the king of uncertainty.

While the recent rally is impressive, the aftermath of that fakeout serves as a reminder that the market’s goal in the cryptocurrency space is to harm as many traders as possible, particularly those who become arrogant when using leverage.

Dogecoin getting out

With the asset trading sideways and displaying indications of stagnation as volatility fades from the chart, Dogecoin is presently trapped in a frustrating limbo. Following its recent surge above significant resistance levels earlier this month, DOGE has been unable to build on the momentum and has entered a low-energy correction phase that is beginning to negatively impact market sentiment.

The price is circling around $0.22, but what is more worrisome than the price is the lack of movement. There appears to be indecision among traders as the candlestick structure is forming a descending triangle, or wedge. DOGE is still chained in place, but volume has significantly decreased, which usually signals a big move. A short-term neutral-to-bearish stance is suggested by the 26 EMA’s current technical intersection with midterm indicators.

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As support, DOGE is currently trading above the 50 EMA and the 100 EMA. However, the market seems to be in waiting mode in the absence of a clear catalyst. Although it is still elevated, the RSI is moving below the overbought zone, suggesting that there is still some latent bullish sentiment that is not strong enough to move the needle at this time.

DOGE is essentially in a holding pattern until it breaks above $0.24 or below $0.21. Traders should monitor volume and EMA compression because Dogecoin is expected to explode once this slumber is over. The sole question is: which course will it take?

Solana can comeback

Pressure is steadily increasing on Solana, and a surprise breakout could be imminent. With a descending wedge pattern forming just below the crucial $170 resistance level, the asset has entered a consolidation phase following a robust rally in late April and early May. Solana is a strong contender for a volatility-driven move because of this structure and its closeness to the 200 EMA.

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At $167, SOL is currently trading at a technical inflection point. Almost precisely where the price action is coiling is the 200 EMA, which serves as both a magnet and a resistance. A clear breakout is frequently preceded by this type of setup in the past, particularly when short-term exponential moving averages such as the 26 EMA start to converge toward long-term indicators.

The approaching cross between the 26 EMA and the 200 EMA is what strengthens this arrangement. This bullish crossover could be a significant technical confirmation of a trend reversal, which is a setup that often draws momentum. When combined with a breakout above $170, this signal has the potential to trigger a strong bullish wave that could push Solana closer to $190 and higher.

Even though volume has somewhat cooled off, Solana’s RSI is still above 55, indicating that there is still potential for growth before the asset is overbought once more. The volume decline could simply be a pause — a moment of indecision before the market chooses a direction.

Particularly on a spike in volume, a clear break above this barrier would probably lead to a significant upward move. On the other hand, a rejection might result in SOL retesting support in the $155-160 range. Solana may be getting ready to surprise everyone watching from the sidelines as the chart is currently leaning bullish.

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May 21, 2025 0 comments

Crypto Trends

Private Equity Giant Apollo Global Private Credit Fund Set for Tokenization on Solana (SOL)

by admin May 20, 2025

A tokenized version of a major private credit fund managed by Apollo will arrive on Solana’s

decentralized finance (DeFi) ecosystem, bringing traditional financial instruments closer to the fast-growing network.

The launch, orchestrated by lending platform Kamino Finance with support from tokenization specialist Securitize and DeFi risk advisor Steakhouse Financial, aims to make the Apollo’s Diversified Credit Securitize Fund (ACRED) token the first of its kind to be available for on-chain borrowing and leverage on Solana. The token’s debut is pending on completing an audit, Kamino said.

The ACRED token, launched in January, offers exposure to Apollo’s private credit strategies and is issued under Securitize’s regulated token framework. ACRED will also be the first token on Solana using Securitize’s sToken standard, with more assets expected to follow later, Securitize said.

The product underscores a growing appetite in crypto for real-world asset (RWA) tokenization. RWAs—traditional instruments such as funds, bonds or real estate—are being brought onto blockchain rails to reduce friction in investing, improve access and transparency, and allow for programmable use in DeFi protocols. In practice, this means investors can use RWAs as collateral to borrow against, yield farming, or plug into automated investment strategies.

“The value of tokenization really comes into play when these assets are integrated into DeFi, and new products and strategies are developed around them,” says Reid Simon, head of DeFi and credit solutions at Securitize.

Despite Solana’s fast-growing DeFi market, RWAs are yet to take off on the chain. According to RWA.xyz, Solana hosts $330 million worth of RWAs, small compared to the network’s nearly $9 billion DeFi market size. It’s also trailing rival layer-1 network Ethereum’s $7 billion real-world asset market. But with large players in tokenization stepping in, backers of the launch see this as a tipping point.

“Solana has experienced explosive consumer growth in recent years, but below the surface we are seeing enormous interest from institutions and asset issuers,” said Marius Ciubotariu, co-founder at Kamino, “Finally, the industry is in a position to not only bring these assets on-chain, but to provide genuine use-cases.”

Through Kamino’s Multiply product, users will be able to leverage ACRED for yield strategies—automatically looping the asset to increase exposure while managing collateral and borrow levels through Solana-native smart contracts. That’s a similar offering to what Gauntlet introduced on Polygon in late April.

“Building on off-chain credit assets in a composable way is the sort of long-term investment we believe can help catalyze further growth of DeFi in Solana,” said adcv, co-founder of Steakhouse Financial.

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May 20, 2025 0 comments

Crypto Trends

Solana Meme Coin Ponke Set to Release Collectibles, Apparel Via JCorp Spinout

by admin May 19, 2025

In brief

Ponke has partnered with 223, a spinout of JCorp, to produce adult-focused products and showcase concept designs at the Las Vegas Licensing Expo.
The team is exploring the opportunity to create blind box collectibles, high-end toys, and products in the cannabis industry.
New products will include NFC chips that will potentially offer token rewards, additional physical merchandise, or an NFT proof of authenticity.

Top 25 Solana meme coin Ponke has announced a partnership with 223, a spinout venture of licensed accessories firm JCorp, to create a range of adult-focused collectibles and apparel.

Official products have yet to be confirmed, but the Ponke team told Decrypt they’re exploring the possibility of producing blind box collectibles, novelty and high-end toys, as well as other products aimed at countercultures like the cannabis industry.

As part of this partnership, Ponke will present a dozen concept products at this week’s Las Vegas Licensing Expo, alongside some of JCorp’s global IPs including Disney, Star Wars, and Marvel. The Ponke team claims to already be in discussions with a number of big name brands for future collaborative co-branded products, with the Licensing Expo representing a major opportunity to expand its network.

New products created as part of the 223 partnership will include NFC tags, small wireless chips that interact with mobile phones, which will enable Ponke to add a number of different extra functionalities to their products.

By scanning an NFC chip the Ponke team is considering adding an NFT proof of authenticity, granting token rewards, or offering digital keys for loot boxes on partner site Looty.fi, which may reward people with merch, tokens, and more.

“We view Ponke as an onboarding vehicle to the larger crypto landscape,” a Ponke representative told Decrypt. “We’re not necessarily going to always be extremely crypto forward in the memes, video content, or products we create. But, we want to welcome people into the club of digital ownership through token rewards and token gated experiences.”

Ponke already offers a range of clothes and a few accessories, like stickers and playing cards, on its official website. However, it is a fairly limited range and the products are quite pricey with a t-shirt costing $110.

The 223 partnership will see Ponke’s offerings expand, 223 will also look to “overhaul” Ponke’s website, simplify the existing product line and distribution channels, as well as bring Ponke products into physical retailers, although no store is confirmed as of yet.

“This partnership marks a turning point for Ponke—it transforms our brand from a viral internet phenomenon into a scalable consumer business.” A Ponke representative explained that, “With 223’s licensing infrastructure, retail relationships, and global reach, we now have the tools to drive real, sustained revenue across physical products, phygital collectibles, and new markets.”

The Ponke team claims that revenue generated will be put into scaling “the brand, the community, and the experiences that make Ponke special.” There are currently no plans to offer Ponke token holders discounts or exclusive opportunities to buy products, but the representative confirmed that it is possible to implement in the future.

223 is a spinout venture of JCorp, a major supplier of apparel, accessories, and merchandise for some of the world’s biggest IPs including Sega, Atari, and Coca Cola. The company’s founder Cole Gurman explained that the spinout leverages some of JCorp’s infrastructure to aid with design, manufacturing, and distribution—hence why the partnership will result in Ponke being presented at the Licensing Expo alongside JCorp IPs.

Ponke isn’t the first project to branch out into physical products through licensing deals. In 2023, Ethereum NFT project Pudgy Penguins teamed up with global toy brand PMI Kid’s World, in a partnership that led to over $10 million worth of Pudgy Toys being sold in less than a year across stores including Walmart.

But while Pudgy Penguins focused on a kid-friendly audience, a Ponke representative stressed that its new venture will be much more adult-focused.

Rather than producing a line of fluffy toys, the meme coin is ideally looking to create a range of “high-end” collector items akin to the Kaws art figure sets and explore products that cater to crypto-adjacent counter-cultures, with weed certainly being one of those.

The partnership “streamlines the path from concept to creation, allowing us to design and deliver merchandise in a matter of weeks,” a Ponke representative told Decrypt, adding that in the coming months, “we’ll bring both physical and digital drops to life with the intention of enriching the Ponke brand and ecosystem.”

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May 19, 2025 0 comments