Solana's digital currency trading at record highs since February, fueled by growth in DeFi sector
In the world of cryptocurrencies, there's always something new and exciting happening. Here's a roundup of some of the latest developments:
Solana's Surge
Solana (SOL) has seen a significant rise, trading above $215, its highest level since February. This surge comes as the Solana ecosystem experiences a rise in DeFi activity, with its most active apps including Drift Protocol, Wormhole bridge, Pyth Network, and other DeFi infrastructure hubs. The Solana ecosystem's main drivers are perpetual futures trading, lending, and general DEX activity.
In September, Santander's Openbank will roll out Bitcoin, Ether, and more for European users, and Solana's native Seeker phone will offer incentives, additional yield, and perks for multiple DeFi apps. The Seeker incentive season will focus on DeFi, not mentioning meme tokens.
Bitcoin and LBTC
Pantera Capital has backed Solana with a $1.1B bet and has a target of $750K for Bitcoin. Meanwhile, Lombard has minted $1.6B worth of BTC-backed liquid tokens, with more than 86% of the current LBTC supply used within DeFi protocols. LBTC is the third-largest liquid token based on BTC, with a current supply of 12,576 tokens.
Other Developments
Next Technology has filed for a $500M common stock offering to buy more BTC. In the UAE, the M2 crypto exchange has changed its business model.
One user lost $1M USDC to a MEV bot after a mistaken transaction, highlighting the importance of careful transactions in the cryptocurrency world.
Hackers have seized the FBI's botnet takedown targets and built a stronger cyberweapon from it, underscoring the ongoing cybersecurity challenges in the digital realm.
Nvidia stock has dropped by 3% due to accusations of breaching China's anti-monopoly law.
Dogecoin (DOGE) and XRP ETFs are set to launch this week, adding to the growing list of cryptocurrency-based investment options.
Larry Ellison is currently involved with OpenAI, Paramount, Warner Bros., and TikTok, but there have been no firm discussions over the cancellation of a $1 billion USD investment for Solana purchases as of August 2025, according to available search results. There are no indications that companies have been conducting such discussions regarding Solana financing.
Pi Network has initiated the final Testnet1 upgrade before its mainnet transition. There's also a trend of whale rotation towards a cryptocurrency named Mutuum Finance.
Lastly, Seeker owners will have weekly access to featured apps with special perks and incentives, but the details of these incentives have yet to be disclosed.
Stay tuned for more updates in the world of cryptocurrencies!
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