Solana is showing a strong surge in its NFT ecosystem
Solana has just suffered an outage in October, marking the eighth outage this year due to a sudden increase in daily transaction volume. However, Solana collections including DeGods and Y00st have topped the overall NFT market in recent days. Hence, Solana is becoming Ethereum’s main rival for NFTs.
Solana NFT’s share of the total trading volume in this specific segment of the crypto market has risen from 7% to 24%. During September, Solana’s daily trading volume sometimes surpassed that of Ethereum and made Magic Eden become the leading NFT marketplace on Solana.
The growth of NFTs in the Solana ecosystem is partly thanks to various new and unique collections launched by well-known creators, with Dust Labs being one of the the typical ones.
Golden makes Web3 trend hot again
Web3 data startup Golden has created a craze in the crypto investment community as it raised $40 million in a Series B round to develop the web3 protocol with decentralized data in the context of the gloomy market.
Leading in this fundraising list of Golden is a series of big names in the Crypto market such as: A16z, Dropbox, Protocol Labs and Solana, etc.
By incentivizing users to submit accurate information to validators, the Golden protocol aims to become the leading decentralized data center in the market. Incorrect information will be fined and companies or users must pay fees to access the data on Golden.
DeFi platform Exponential raises $14 million
Exponential has raised $14 million in a seed funding round that was led by crypto-focused investment firm Paradigm.
The Exponential is a decentralized finance investment risk assessment and discovery platform that makes it easy for investors to discover new yield opportunities and protect their assets in an optimal way, especially when DeFi hackers’ tricks are increasingly sophisticated. According to statistics from Chainalysis, cross-chain bridges in Defi lost nearly $2 billion due to hacks in the first 6 months of 2022 – an alarming number.
The Exponential platform has an institutional-grade risk assessment system that analyzes a user’s current investments for potential risks in the underlying protocols, assets and blockchains. Users can also find and compare yield opportunities across the major chains and protocols. Exponential will soon launch the ability for customers to invest directly in DeFi projects through its custodial platform.