Solana Breakpoint Day 1 is here, with a variety of bullish announcements. Technological breakthroughs have been important, but a wealth of premiere finance connections took center stage.
Breakpoint will continue with more news from Solana.
Solana’s Breakpoint
The two-day Solana Breakpoint 2024 conference is here, and the industry is watching to see what new innovations are featured. Breakpoint is a regularly occurring event that Solana has been holding since 2021, and the current venue is in Singapore.
Solana Labs debuted new products the day before at the Token2049 conference, featuring cofounder Anatoly Yakovenko as a keynote speaker. It unveiled a new smartphone, the Seeker, with upgraded hardware and a lower cost than its predecessor, signaling even greater offerings during the event.
As of yet, Breakpoint’s first day has not disappointed. Solana’s official X account reposted a concise summary of Day 1: “products, products, products.” For instance, Kevin Bowers from Jump Crypto claimed that the first iteration of a new validator protocol was online under the name “Frankendancer.”
Breakpoint’s real highlight, however, was the wealth of institutional connections that Solana has been building.
For example, Franklin Templeton, an American investment company with over $1.3 trillion AUM, revealed its plans to launch a mutual fund on Solana. Mike Reed, the firm’s partnership development lead, praised blockchain’s applications among financial service providers. An ongoing relationship here could prove transformative to the industry.
A representative from Citibank also gave a bullish keynote address, albeit without as many firm commitments to future projects. Moreover, Société Générale, the third-largest bank in France, announced Solana support for its EURCV stablecoin. This coin is already MiCA-compliant, showing the extent to which Solana is gaining access to a thriving EU market.
Solana’s price has bounced up since day one of Breakpoint. According to technical analyst Alyo, the hype generated by new developments will likely help extend this bounce even further.
“It is interesting that SOL was one of the few coins not to break market structure, whilst simultaneously large amounts of market participants have written off Solana as being done. Solana still remains a hated coin, whilst the tech gets better month by month, and the network and ecosystem continue to grow, and this is very good news if you are a holder,” Alyo wrote.
For now, however, all one can do is speculate. If their overall confident attitude gives any clue, the best is yet to come.
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