Record-Breaking Quarter for Solana: Find Out Which Projects Raised Millions!

• Solana advances in mobile tech with over 140,000 units of Solana Mobile’s Seeker sold and new app launches.
• Cross-border payment solutions expand on Solana with the Sling app facilitating transactions in over 140 countries.

The “State of Solana: Breakpoint Edition” has recently published a 14-page report detailing the latest developments within the Solana blockchain ecosystem. This report covers a range of updates indicating significant activity and progress across various sectors within the platform.

State of Solana: Breakpoint Edition just dropped, and the ecosystem is on 🔥

Get the full scoop with the comprehensive 14 page report, available below👇

Want a TLDR of what you missed? We’ve got you covered with some highlights:

1. The institutions are here: Franklin… pic.twitter.com/Hd2SZjElUB

— Solana (@solana) October 4, 2024

The report notes the entry of major financial institutions into the Solana space. Franklin Templeton , Securitize (BlackRock’s BUIDL tokenization partner), and Societe Generale are set to launch operations on Solana, showcasing the platform’s growing appeal to established financial entities.

In the realm of mobile technology , Solana is making strides by supporting the launch of new applications designed for mobile users. Notably, the applications Jupiter, DRiP, and PhotoFinish LIVE are now available, enhancing user engagement through mobile devices.

Additionally, products such as Solana Mobile’s Seeker, with over 140,000 units sold, and Jambo’s JamboPhone 2, are integrating blockchain technology into mobile hardware.

Financial technology, particularly in cross-border payments, is another area where Solana is expanding. The Sling app now allows for transactions via Solana wallets in over 140 countries.

Other innovations include the introduction of debit cards linked to Solana stablecoins by companies like Sanctum, Fuse Wallet, Kast, and Reap, facilitating easier access to digital currencies.

On the environmental front, the Solana network is being utilized to address energy challenges. Project Zero is deploying its decentralized renewable energy network on Solana, and Powerledger is preparing to migrate its operations to the platform to leverage its capabilities for energy trading.

The report also highlights a surge in developmental activities on Solana. In the third quarter of 2024, projects built primarily on Solana raised $173 million, the highest since the second quarter of 2022. Additionally, Colosseum’s second hackathon saw a 36% increase in registrations over its first, indicating a robust growth in developer engagement.

These updates from the Solana ecosystem reflect its ongoing evolution and the broadening interest in its capabilities across financial, mobile, and environmental sectors.