NEW: Here is a list of all the filings and/or applications I’m tracking for Crypto ETPs here in the US. There are 92 line items in this spreadsheet. You will almost certainly have to squint and zoom to see but best I can do on here pic.twitter.com/lDhRGEQBoW
— James Seyffart (@JSeyff) August 28, 2025
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Solana’s Rust validator client Agave has matched Firedancer’s lab record, briefly peaking at 1.1 million transactions per second in a synthetic, single-node benchmark. The result was disclosed by Solana core engineer Andrew Fitzgerald, who wrote: “Hit a burst of 1.1m TPS on agave this morning. Single-node synthetic test with simple transfers. On a branch with several changes not yet merged,” before listing PoH recording and status-cache improvements alongside new “scheduler-bindings,” with block/shred limits disabled for the run.
Pressed on caveats, Fitzgerald added a plain-English qualifier: “disabled block/shred limits, and it’s a burst not sustained. have several long-term perf improvements squashed on top of scheduler-bindings to make this happen.” The exchange underscored that this is a laboratory datapoint, not a network-wide throughput number.
The milestone immediately fed a broader narrative about client-level competition on Solana. Helius co-founder Mert Mumtaz framed it this way: “last year Firedancer hit 1.1M TPS on a synthetic test — now, Agave has done the same. There is an outdated notion that Solana will become faster only if Firedancer. This is from a time when Agave wasn’t as competitive — but it is now. The competition between the two client teams will improve the chain like never before.”
Anatoly Yakovenko, Solana’s co-founder, poked fun at the victory lap, quipping: “Pls no more. Just ship ag and lower the timers to 150ms.” The remark tracks with the network’s ongoing push to reduce consensus latencies. That push is currently crystallized in SIMD-0326 (“Alpenglow”), a consensus overhaul now in community voting that targets ~150 ms block finality by reworking how and where validator votes occur.
Under the hood, the Agave test hints at where performance headroom is being unlocked. “Scheduler-bindings” — a forthcoming extension that lets validators plug in custom block-packing logic without forking core — has been on Anza’s public roadmap since May. Recent Agave 2.3 literature also details a revamped TPU client (“tpu-client-next”), AccountsDB I/O reductions, a greedy scheduler, and snapshot/gossip improvements, all of which cut real-world overhead even if they don’t show up in synthetic peaks one-for-one.
The obvious question is what the 1.1M TPS burst actually means for users. Synthetic single-node tests measure raw execution and scheduling throughput with some guardrails temporarily lifted; they do not translate linearly to mainnet capacity, which is bounded by network propagation, signature verification, scheduler policy, and economic constraints. Still, the number is directionally consistent with the network’s trajectory. Earlier this month, independent experiments observed six-figure TPS bursts on mainnet under heavy program-call load — a separate datapoint that, taken together with Agave’s lab figure, reinforces the pace of optimization across both client and protocol layers.
Two broader takeaways stand out. First, Solana’s client diversity is no longer hypothetical: Agave (Anza) and Firedancer (Jump Crypto) are now trading blows on the same synthetic leaderboard, with different codebases stressing different parts of the system — a healthy sign for resilience and future performance. Second, the product focus has shifted from trophy numbers to latency and predictability: the 150 ms target, if adopted, compresses user-perceived finality in ways that matter for payments, trading, and real-time apps even when headline TPS fluctuates.
At press time, SOL traded at $207.86.
SOL price above key support, 1-week chart | Source: SOLUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com
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Check out our Live Next Crypto to Explode Updates for August 28, 2025!
Crypto is so unthinkably huge at the moment, a nearly $4 trillion industry that’s aiming for world domination.
Recent headlines talk of Circle and Mastercard planning to add USDC to global payment systems, Ethereum and Bitcoin treasuries in the billions of dollars, and Google building its own blockchain.
Bitcoin has an all-time growth of over 180,000,000%, Dogecoin over 39,000%, and some of the newest presale coins often pump 10x, 100x, or even 1,000x on rare occasions.
Explosive potential is probably the single best description for what we’re seeing today in crypto.
Quick Picks for Coins with Explosive Potential
If you’re looking for the most recent insights on the next crypto to explode, stay tuned. We update this page frequently throughout the day, as we get the latest and greatest insider insights for chart sniffers and traders looking for the next coin to explode.
Disclaimer: Crypto is a high-risk investment, and you may lose your capital. Our content is informational only, and it does not constitute financial advice. We may earn affiliate commissions at no extra cost to you.
August 29, 2025 • 10:00 UTC
Tether has confirmed plans to launch $USDT natively on Bitcoin through the RGB protocol, a move that could reshape how the network is used.
Users will soon be able to hold $BTC and $USDT in the same wallet, signalling a shift from Bitcoin as a passive store of value to a platform with broader utility.
While the Bitcoin-native stable coin product is exciting, Bitcoin Hyper ($HYPER) is already advancing with research into roll-up settlement models for Bitcoin Layer 1. Its token presale is nearing $13M, showing growing demand for projects that turn Bitcoin into more than just digital gold.
What exactly is Bitcoin Hyper, and why is it predicted to be the next crypto to explode?
Check out the official website to learn more.
August 29, 2025 • 10:00 UTC
Solana pushed through the $215 level, achieving a 6-month high since February 4. It also got back in top spot among other DEXs in the 24-hour volume ranking.
Source: DefiLlama
Reasons for this pump include the new Alpenglow upgrade, which aims to achieve sub-second transaction speed, and the recent explosion of Solana treasuries.
Traders are already expecting a rally for $SOL, especially if current momentum holds. Ali on X expects a $300 target soon.
This is all extremely bullish for crypto, and the next crypto to explode might come from where you least expect it – presales. Snorter Token ($SNORT) plans to build a Telegram trading bot for Solana and Ethereum – the lowest fees around (0.85%), automatic token sniping, and anti-rugpull protections.
The presale has raised over $3.5M, with the token priced at $0.1027.
To buy Snorter Token, visit our guide.
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DeFi Development Corp. has deployed another $77 million from its equity raise into Solana, bringing its total holdings to a staggering 1.83 million tokens. This move intensifies its high-profile bet on crypto as a core corporate asset.
Summary
According to a press release dated August 28, DeFi Development Corp. has acquired an additional 407,247 Solana (SOL) tokens, valued at approximately $77 million. The purchase, executed at an average price of $188.98 per token, was funded directly from the company’s recent equity financing round.
The latest buy boosts DeFi Development’s total Solana holdings to 1,831,011 tokens, solidifying its unique position as a publicly-traded entity with a treasury primarily denominated in the digital asset. Furthermore, the company confirmed that over $40 million remains available for future SOL acquisitions and treasury operations.
The latest acquisition represents a 29 percent jump from DeFi Dev Corp’s prior balance of 1.42 million tokens. That increase lifts its Solana exposure to roughly $371 million at current valuations, impacting both market liquidity and perception.
Per the statement, the newly acquired SOL will be held long-term and staked across a variety of validators. Crucially, this includes delegating a portion to DeFi Dev Corp.’s own validator infrastructure. This is a key operational detail that moves beyond passive speculation.
By staking, the company actively generates native yield, aiming to compound its holdings organically through network rewards. This approach transforms their treasury from a static asset into a productive, revenue-generating engine, leveraging crypto-economics directly on its balance sheet.
For equity investors, the most critical metric remains SOL per Share (SPS). The company reports this figure currently stands at 0.0864, meaning each share of DFDV stock is backed by that amount of SOL, or roughly $17.52 at current valuations.
The press release outlines that on a fully diluted basis, accounting for all warrants from the recent financing, the share count would adjust to approximately 31 million. Despite this potential dilution, the company projects that its ongoing accumulation strategy will prevent the SPS from falling below a baseline of 0.0675, signaling confidence in continued per-share growth as it deploys its remaining $40 million war chest.
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The most ambitious consensus overhaul foe Solana to date—SIMD-0326, nicknamed “Alpenglow”—has officially moved into the community voting window, a three-epoch process that began at the start of Epoch 840 and will conclude at the end of Epoch 842.
The proposal rewrites Solana’s core consensus, replacing Proof-of-History plus TowerBFT with a modern architecture centered on a direct-vote finality engine (“Votor”). The authors say Alpenglow significantly reduces latency (from 12.8 seconds under TowerBFT to as low as 100–150 milliseconds) while eliminating heavy vote-gossip traffic through off-chain messaging and signature aggregation.
Governance mechanics for SIMD-0326 are unusually explicit. Vote tokens are claimable by validators according to captured stake weights, using a Merkle distributor tool; tokens may be sent to “Yes,” “No,” or “Abstain” accounts. Passage requires a supermajority: the sum of Yes votes is equal to or greater than 2/3 of the total sum of Yes + No votes,” with a quorum of 33% in which abstentions count toward quorum but not toward the Yes/No denominator.
On day one of the window (Epoch 840), early snapshots show modest—but distinctly positive—participation. Multiple market data posts report turnout near 11.5%, with roughly 11.3% of stake signaling “Yes” and negligible “No.” Because the overwhelming share of stake has not yet cast ballots, this should be treated as an initial reading rather than a trend. A public tally dashboard is being maintained by Staking Facilities.
SIMD-0326 vote status | Source: Staking Facilities
Alpenglow’s design changes go beyond speed. The protocol introduces certificate-based notarization and finalization, aggregates validator votes off-chain to reduce overhead, and rebalances incentives around voting. Notably, the proposal replaces per-slot on-chain vote fees with a fixed “Validator Admission Ticket” (VAT) currently set at 1.6 SOL per epoch and burned—an economic continuity measure intended to keep cost structures comparable to today’s while votes move off-chain.
“Before each epoch, each validator must pay a fixed fee—initially set to 1.6 SOL per epoch,” the authors write, adding that the figure mirrors roughly 80% of current on-chain voting costs. Forum participants have already begun debating whether a flat VAT raises entry barriers for smaller operators, underscoring that the governance discussion is as much about economics as it is about protocol mechanics.
Timing matters for operators and tokenholders following the vote. Solana epochs are approximately two days in length, so a three-epoch voting window implies about six days from start to finish. The network entered Epoch 840 on August 27, 2025, which places the expected end of the voting window around September 2, 2025, when Epoch 842 concludes.
If the supermajority threshold is reached, Alpenglow would clear governance, with subsequent activation depending on client readiness and the standard Solana release process. For now, the focus is on turnout. With ~90% of stake yet to be tallied in the opening snapshot, every validator ballot over the coming epochs will carry outsized weight in determining whether Solana pursues ~150-millisecond finality as its next consensus horizon.
At press time, SOL traded at $215.
SOL surpasses key resistance, 1-week chart | Source: SOLUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com
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DeFi Development Corp. has made another bet on Solana, expanding its treasury holdings as competition among public firms heats up. The company confirmed on August 28 that it bought 407,247 SOL at an average of $188.98 each.
As per the announcement, the purchase cost roughly $77 million, lifting the company’s total holdings to 1,831,011 SOL. Consequently, DeFi Dev now controls nearly $371 million worth of Solana. The deal comes only weeks after its equity raise that left more than $40 million for future Solana purchases.
The company stressed that the newly acquired tokens will be staked across validators, including its own, to generate additional yield. With the move, the company is committed to long-term building of a treasury that compounds in quantity and value.
DeFi Dev stated that there were about 21 million shares in circulation as of August 28. At current prices, this corresponds to a Solana-per-share ratio of 0.0864, or $17.52. However, a fully diluted basis would expand shares to 31 million.
Even then, management does not expect SPS to drop below 0.0675. Hence, the company reinforced expectations of continued growth despite future warrant conversions.
Additionally, DeFi Dev shares rose sharply on Nasdaq. The stock closed at $16.86, up 10.48% in Tuesday trading, according to Yahoo Finance data. Meanwhile, Solana itself traded at $211.45, with volumes above $14 billion, based on CoinMarketCap.
Competition to secure Solana exposure is still high. A Coingecko report earlier this month showed Upexi holding 1.9 million SOL, the largest among public firms. DeFi Dev ranked second then with 1.18 million tokens, but it has since narrowed the gap.
Moreover, Canadian firm SOL Strategies holds 392,667 SOL, while Torrent Capital manages about 40,039 SOL. Together, as per the report, the groups controlled over 3.5 million SOL, worth $591 million, or 0.65% of the circulating supply.
DeFi Dev’s latest purchase signals institutional conviction in Solana’s long-term value. Consequently, public companies are shaping Solana’s market dynamics.
Also Read: Tether to Launch USDT on Bitcoin with RGB and Lightning
BONK, the Solana-based meme token, advanced 4% in the last 24 hours, reaching $0.0000218 before settling around $0.0000213.
The strongest push came at 19:00 UTC on Wednesday, when BONK jumped 1.9% from $0.0000211 to $0.0000215, propelled by a 574.8 billion-token volume spike. Sellers capped momentum at $0.0000215, yet support consistently re-emerged near $0.0000212, reinforcing the token’s resilience.
BONK traded within an 8% intraday range, reflecting persistent volatility, according to CoinDesk Research’s technical analysis data model.
Institutional confidence in Solana continues to grow. Galaxy Digital, Multicoin Capital, and Jump Crypto are spearheading a $1 billion Solana investment fund, supported by Cantor Fitzgerald’s infrastructure. The initiative exceeds existing Solana allocations by 150%, and could channel significant liquidity into Solana-native projects, with BONK among the ecosystem’s most actively traded tokens.
Separately, beverage company Safety Shot recently completed a $25 million BONK allocation to finance the majority of a $30 million raise. While the announcement came earlier this week, it remains a milestone for meme coin adoption in corporate treasury management. Together, these developments demonstrate how BONK is moving beyond its origins into institutional conversations about liquidity and diversification.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Key takeaways:
Past SOL/BTC golden crosses preceded 1,000% rallies in the SOL/USD pair.
Altseason backdrop and nearly $3 billion in new treasury buys boost Solana’s upside case.
Solana (SOL) is flashing a rare golden cross versus Bitcoin (BTC), a setup that has historically fueled parabolic rallies in both BTC and US dollar terms.
As of Thursday, SOL/BTC’s 50-day simple moving average (50-day SMA; the red wave) was on course to climb above the 200-day SMA (the blue wave), confirming a golden cross pattern.
“We’ve seen this play before… 2021, 2023, and now setting up again in 2025,” says analyst Ran Neuner, and that the setup is “screaming [for] a major move in SOL.“
SOL/BTC daily price chart. Source: Ran Neuner
In early 2021, SOL/BTC’s first golden cross fueled an approximately 1,900% breakout against Bitcoin. The second cross in mid-2023 produced a similar outcome.
Moreover, SOL/BTC’s rise coincided with major rallies in the SOL/USD pair. For instance, Solana gained 1,890% against the US dollar, climbing from $13 to over $260, after SOL/BTC’s golden cross confirmation in 2021.
SOL/USDT daily price chart. Source: TradingView
Solana gained over 1,000%, rebounding from around $20 to above $250, after the second SOL/BTC golden cross in 2023.
These SOL/USD and SOL/BTC bull runs have previously coincided with broader “altseasons,” when capital rotates from Bitcoin into high-beta tokens.
In 2021, Solana’s breakout came during the DeFi boom that lifted the entire altcoin market. In 2023, the move followed a similar script as post-FTX recovery liquidity flowed into altcoins.
This year, the backdrop looks equally supportive. Ether (ETH) has already outperformed Bitcoin in recent months, often seen as an early sign of altseason strength.
Source: BitBull
At the same time, historical Bitcoin halving fractals suggest liquidity expansion and capital rotation typically accelerate over a year after the halving, a pattern that could once again set the stage for a major Solana rally.
Solana (SOL) is trading within a broadening wedge, or megaphone pattern, with the upper trendline aligning near the $295–$300 zone as the next major resistance by October.
SOL/USDT weekly price chart. Source: TradingView
The setup comes as SOL/USD holds comfortably above its 50-week and 200-week EMAs, while the weekly RSI remains bullish at 61, suggesting further upside momentum.
Fibonacci retracement levels also reinforce the $295 area as a critical breakout point.
Fundamentally, Solana’s outlook is supported by news of growing demand from corporate treasuries.
This week, Galaxy Digital, Jump Crypto, and Multicoin Capital revealed plans to raise over $1 billion for a Solana treasury fund backed by the Solana Foundation.
Sharps Technology has also committed $400 million to its Solana reserves, while Pantera Capital is pursuing a $1.25 billion Solana-focused vehicle.
Related: Solana needs three catalysts to push SOL beyond $200 toward $250
Together, these moves represent nearly $3 billion in potential new demand for institutional portfolios. That may further boost SOL’s potential to hit $300 in the coming weeks.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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In today’s Crypto for Advisors newsletter, Samantha Bohbot, partner and chief growth officer from RockawayX breaks down decentralized finance and the differences Bitcoin, Ethereum, and Solana bring to this space.
Then, Kevin Tam answers questions about institutional investment in crypto ETFs and notes some global trends in “Ask an Expert.”
– Sarah Morton
Webinar alert: On September 9 at 11:00am ET join Michelle Noyes from AIMA and Andy Baehr from CoinDesk Indices as they discuss building a sustainable business in the cyclical markets of crypto. Register today. https://aima-org.zoom.us/webinar/register/4917558078322/WN_3jAGIrqMTK2z7e74q5bkWg#/registration
Event alert: CoinDesk: Policy & Regulation in Washington D.C. on September 10th. The agenda includes senior officials from the SEC, Treasury, House, Senate, and OCC, plus private roundtables and unparalleled networking opportunities. Use code COINDESK15 to save 15% on your registration. http://go.coindesk.com/4oV08AA.
Bitcoin may dominate the crypto conversation as the most established digital asset, but today’s landscape presents many compelling opportunities to investors.
Outside of Bitcoin, blockchains power applications that delight global users, generate meaningful revenues, and are growing impressively.
Bringing Global Finance On-Chain
Tokenized real-world assets (RWAs) refer to the issuance and trading of traditional instruments like stocks, bonds, commodities, and alternative assets on blockchains. The perks of doing so are substantial. Settling asset trades on-chain is nearly instantaneous; anyone, anywhere can participate (if the issuer allows it), and transactions are transparent, making them easier to track and automate.
Today, nearly $300 billion in tokenized assets are on-chain. Boston Consulting Group predicts the market will reach $600 billion by the end of the year and $19 trillion by 2030. Recent RWA deployments are showcasing blockchains’ potential to transform traditional markets.
In bridging traditional assets and on-chain use, blockchains act as marketplaces, with typical “chicken and egg” dynamics. Namely, issuers want to go where the active users are, and users flock to the site of the new and best products.
Ethereum was the natural starting point. Stablecoins like USDC and USDT first launched there, giving Ethereum the deepest pool of tokenized dollars and the majority of today’s on-chain RWA value.
Solana is a top contender for RWA activity, and recent launches showcase blockchains’ potential to swiftly transform traditional markets. Kamino Finance, Solana’s leading borrowing and lending application, enables users to easily borrow against their holdings in xStocks, tokenized stocks of Apple, Tesla, and other companies. Since xStocks launched across blockchains on June 30, Solana has accounted for an average of approximately 93% of daily trading volume.
On-chain stock token volume by blockchain | Source: Dune Analytics
Solana’s dominance in global developer activity and active users (more than double that of the next chain) gives it an edge in courting asset issuers, while successfully onboarding them and unveiling new on-chain products will reinforce this activity.
More broadly, DeFi continues to grow, with greater diversity in on-chain products and institutional-grade offerings. Catering to sophisticated portfolios, builders work on products that integrate stablecoins, RWAs, and / or yield mechanics to create appeal to different risk preferences.
Ethereum currently leads the sector, with over $94 billion in total value locked (TVL) and thousands of protocols. While retaining the industry’s deepest liquidity is an advantage, there’s more to DeFi than TVL.
The Solana DeFi protocol’s total value locked (TVL) recently surpassed approximately $10 billion. In a sign that the TVL reflects real and valuable use, Solana’s applications collectively earn more on-chain fee revenue than all other chains combined. Thanks to its speed and low costs, solana has established itself as DeFi’s active trading hub and consistently leads ether in decentralized exchange (DEX) trading volumes.
Beyond bitcoin’s crypto role as “digital gold,” both the Ethereum and Solana blockchains have emerged as core digital infrastructure, each with distinct advantages.
Ethereum is the original open computer, where builders first coded decentralized applications and foundational institutional projects launched.
Solana’s DeFi momentum is building. It’s the most used chain in the world already, and a hotbed for innovative DeFi products. Like Ethereum’s native ETH token, Solana’s SOL offers broad exposure to the ecosystem, meaning investors don’t need to pick individual application winners; instead, they can participate in the overall growth.
Ethereum and Solana’s long-term success depends on their being home to applications that deliver real value and, ultimately, disrupt legacy financial systems. If they can pull that off, then today’s prices may look like attractive entry points.
– Samantha Bohbot, partner and chief growth officer, RockawayX
Q. One year into the institutional investments in the crypto ETFs trend, how are Canadian banks and pension funds approaching bitcoin?
A. This quarter’s 13F filings reveal that Montreal-based Trans-Canada Capital has made notable investments in digital assets. It manages the pension assets for Air Canada, as one of the largest corporate pension plans in the country. The pension fund added $55 million in a spot bitcoin ETF.
Institutional adoption of bitcoin has accelerated over the past year, driven by clearer regulatory guidance, the launch of spot ETFs and increasing recognition of bitcoin as a strategic asset. Schedule 1 banks in Canada are holding more than $139 million in bitcoin exchange-traded funds, underscoring growing institutional demand and long-term positioning.
Q. How might institutional accumulation affect bitcoin’s market dynamics?
A. Last year, ETFs purchased approximately 500,000 bitcoin, while the network produced 164,250 new bitcoin through its proof-of-work consensus. This means ETF demand alone was three times the newly minted supply. Additionally, public and private corporations purchased 250,000 bitcoins. As governments consider including bitcoin in their strategic reserves, other entities are exploring the addition of bitcoin to their corporate treasuries.
Q. How will the Financial Conduct Authority (FCA) greenlighting retail access to crypto ETNs in the U.K. accelerate the retail & institutional adoption?
A. This marks an important moment for crypto products in the retail market as an asset class that reflects a broader shift in the U.K.’s regulatory stance toward digital assets. It is a complete reversal from a 2020 decision when the FCA banned crypto exchange-traded notes. ETNs will need to be traded on an FCA-approved investment exchange. The U.K. is shifting its approach to crypto as the government seeks to grow the economy and support a digital assets industry, sending a strong signal to institutional investors that the U.K. is positioning itself as a competing player in the global crypto market.
– Kevin Tam, digital asset research specialist