The session aimed to analyze the recent increase in the price of Solana and its potential impact on investors within the ever-evolving blockchain landscape.
The CoinEx Twitter Spaces discussion began with host Johnny Koon welcoming the audience and introducing the panelists: Claudio Cossio, co-founder of Metapool, and Ivy, researcher at CoinEx.
Key Discussion Points
Increasing interest in custody solutions. The discussion began with a disclaimer that all statements made should not be taken as financial advice and investors should do their research and do proper risk management. Claudio began by addressing the main crypto sentiment and questions in the heart of every cryptocurrency enthusiast about a bull run or an impending bull run due to the rise in the price of Bitcoin. Claudio concluded his point by suggesting that the ETF likely influenced Bitcoin’s current price action.
Rise in Interests of Custodial Solutions. Claudio goes on to explain that over the last 12 to 18 months, there has been significant interest from large organizations regarding the arrival of institutional investors and the emergence of custody solutions, indicating an outlook market in the process of maturation. Claudio highlighted that the increase in interest in recent months led to the exploration of custody solutions such as Fireblocks, BitGo, Finoa, Twinspeak and Anchorage. He noted that centralized exchanges also offer custodial assets.
Exploring Solana’s Powerful Comeback. The conversation then turned to the main topic: Solana’s recent price surge (Powerful Comeback) and its prospects. Here is a summary of the key points discussed:
- The Saga initiative: Speakers discussed possible factors behind Solana’s price increase, including the possible influence of the Saga phone (a smartphone designed specifically for the Solana blockchain). Claudio mentioned that he was initially skeptical about it and admitted that he was wrong to criticize that initiative after witnessing how the mobile initiative helped in Solana’s powerful comeback. Claudio goes on to explain how Solana built a strong user base by releasing tokens to Saga owners (Solana fans) over the summer of last year, which he considers a really good “marketing strategy” that was executed perfectly.
- Solana’s attraction for top Deepin protocols and projects: Claudio emphasized Solana’s appeal to top protocols like Render and Helium, particularly with the concentration of Deepin projects within the Solana ecosystem. He highlighted the importance of Solana’s integration with Wormhole, a bridge that facilitates a seamless connection with other L1 blockchain ecosystems, as a key factor driving the migration. Claudio stressed that this surge of interest and influx of assets into Solana has been meticulously planned over the past 12 to 18 months, with projects undergoing extensive audits before joining the ecosystem. This influx of projects and interest has catalyzed the current dynamics of the L1 alternatives market, positioning Solana as a promising platform for digital asset adoption, especially in emerging markets such as Southeast Asia and Latin America.
- Solana´s Competitive Landscape: The discussion acknowledged the presence of competing blockchains such as Sui, Aptos, and Near, each with their strengths and weaknesses.
- Sustainability Concerns in GameFi: The conversation highlighted concerns about the sustainability of GameFi’s current model and emphasized the need for a more sustainable approach.
- Solana’s future potential: The speakers were optimistic about the future of Solana, highlighting the importance of building sustainable ecosystems that provide real value to users.
Despite the optimism, the panelists emphasized the need for caution and risk management in cryptocurrency investments. Attendees were left with valuable insights, reaffirming their commitment to navigating the crypto landscape responsibly.
By Audy Castaneda
