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On today's issue:
Solana Breakpoint
Bridges
Rate Cuts
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Solana Breakpoint
Solana's largest conference is happening as we speak. What's new?
Solana is launching a new phone, the Seeker. Starting at $450.
Solana just launched Firedancer on Testnet, and Frankendancer on Mainnet. This scales solana to even more TPS.
Sky, the rebrand of MakerDAO, is launching new tokens and offering good DeFi incentives on Solana.
Bridges
So, total volume on bridges is pretty much flat, with some increases lately. Non-canonical bridging leaders are Wormhole, Across, and Synapse.
Zooming in on Synapse:
Recent improvements have made Synapse have way better costs than Across or Stargate. Also, a Synapse user (which are 500 weekly), is making 3x the volume than an Across user.
Synapse is a token with a 80M market cap. Which feels very interesting.
In terms of interop. Layer Zero is decreasing, and Hyperlane is getting it's lion share.
Fed Rate Cuts
BTC jumped to 61k after the Fed cut rates even further, 0.5%, now at 4.75%. Which is 2.75% above the inflation of 2%.
So, inflation is controlled, rates are low. We're in soft landing territory. If inflation would go up, we enter recession territory, but that's not the case.
All seems good, it's the groundwork for a very good alt season, as rates go low, investors try to find higher yields on riskier assets. Meaning, crypto, majors and alts.
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Disclosure: All content published is for informational purposes only, and does not constitute any sort of financial advice.
