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Citizen Daily Brief

Solana's Real-World Expansion ($)

gm Bankless Citizen, Solana's stablecoin and RWA scenes are gaining steam, can the chain gain major ground here like in memecoins?
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Jul 30, 2024 • 3 min read
Solana's Real-World Expansion
Published on July 30, 2024
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NEED TO KNOW
SEC Making Moves
  1. 🧑‍⚖️ The SEC is staying busy. America's securities watchdog is potentially backing down on Binance, and it just slapped the BitClout founder with fraud charges.
    Read more on Bankless.com
  2. 🐳 Compound negotiates peace. In the wake of a governance crisis, crypto lending protocol Compound has negotiated with a COMP whale voter to stop a controversial proposal.
    Read more on Bankless.com
  3. 🐹 Hamster Kombat ramps up. The hit Telegram game just published its whitepaper, which revealed token plans and how the title now has 300 million players.
    Read more on Bankless.com

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MARKET VIBES
BTC's Slide Continues

📸 Daily Market Snapshot: Bitcoin continued its skid, dropping below $66k this morning after slipping below $67k yesterday in the wake of a $2 billion U.S. government BTC transfer spooking the market. We'll see if this streak continues into the week, but for now, the downward weight from the top seems to have squeezed the other crypto majors, with ETH down 1.2% and SOL down 4.9% on the day.

Prices as of 4pm ET 24hr 7d
Crypto $2.36t ↘ 2.1% ↘ 1.3%
BTC $65,814.85 ↘ 2.2% ↗ 0.4%
ETH $3,267.21 ↘ 1.2% ↘ 5.8%
🔒
New Token Rating: Helium Network The HNT token has been a top performing crypto asset during the month of July. Is this project poised for continued outperformance?

See HNT on Token Hub
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ANALYSIS
The Rise of Stablecoins and RWAs on Solana

Alongside the recent ETFs surge, stablecoins and real-world assets (RWAs) have posed some of the strongest paths to mainstream crypto adoption.

And while Ethereum and Tron reign as top stablecoin hubs, Solana is joining these ranks, with new integrations coming into focus. Plus, RWA activity is increasing on the network through projects like Ondo's USDY and Maple Finance's Jito partnership.

Accordingly, today's article dives into all these developments to understand the momentum Solana has achieved in becoming a promising center for stablecoins and RWAs.

Can the chain go on to gain major ground in these sectors like it has with memecoins? Let's see! 👇

Read the Full Analysis
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LEARN
What We're Reading

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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