Gold and Bitcoin stand aside! This token surged more than 11% in a single week, all because of a large-scale summit between Chinese and American leaders...

FX168 Financial News Agency (Asia Pacific) reported that the Federal Reserve decided to cut interest rates by 50 basis points in September. Gold soared 2.23% in a single week, and Bitcoin rose as much as 8.87% in a single week, but they all underperformed the SOL token under the US blue chip public chain Solana, which recorded a single week increase of 11.21%. This year's TOKEN 2049 Summit was successfully concluded in Singapore, with Chinese and American bigwigs gathered together. During the period, Solana's good news was frequently reported, stimulating a surge in SOL buying.

Source: Trading View

TOKEN 2049 is a large-scale summit that focuses on the cryptocurrency market. It was held in Singapore on September 13 and 14 this year. After its successful conclusion, many cryptocurrency media outlets integrated and summarized the summit, and mentioned the Solana public chain at the same time.

Solana Breakpoint is the most eye-catching summit event this year, even surpassing the mainstream old blockchain Ethereum. It is reported that Solana Breakpoint is more lively than the main venue, showing an impressive and powerful community. Both the Chinese and American crypto circles have praised Solana's performance.

Solana announced a major positive news at TOKEN 2049:

Solana plans to release the next generation of Web3 smartphone Solana Seeker in 2025

Source: Solana Mobile official website

Solana Mobile has officially announced details of the next-generation Web3 smartphone Solana Seeker, formerly known as Chapter Two, scheduled for release in 2025 and offering a number of improved features.

Read more: Solana's second-generation smartphone seeker is ready to be launched. First-generation saga buyers can directly receive airdrop rewards if they purchase again

Currently, Seeker has received more than 140,000 reservations, and the Solana mobile development community has actively embraced Seeker, developing a large number of exclusive decentralized applications (Dapps) and features for the device. Seeker's core features include a built-in self-hosted Seed Vault wallet, Solana Mobile Dapp store, Seeker Genesis Token (a soul-bound NFT), and upgraded hardware configuration.

Solana co-founder Anatoly Yakovenko said that Seeker will offer a higher standard than Saga at a more affordable price, aiming to become the most defining Web3 mobile device next year.

Web3 booking platform integrates Solana to earn 10% rebate on future consumption

Source: Travala official website

Juan Otero, CEO of Travala, a travel service booking company that provides cryptocurrency payments, announced that the platform has integrated the Solana public chain, and users can now use cryptocurrencies on the Solana chain, such as SOL, USDT, USDC, etc., to book flights, restaurants and hotels required for travel.

He said that due to its low cost and scalability, Solana has become one of the most commonly used blockchains. The infrastructure and technology on Solana make it possible to build the next stage of travel experience.

At the same time, Travala also announced that it will launch a travel rebate reward of 10% of the order amount for users through a user loyalty program in the future. The reward will be issued in the form of SOL, Bitcoin and Travala's native token AVA.

The Travala development team said that it will continue to embrace Solana in the future. The team said: "Solana will become the cornerstone of Travala's development in the future. Our goal is to create products that can expand the Solana ecosystem and have real-world utility."

Read more: Can Memes Drive Value? TOKEN2049 Panelists Discuss the Impact of Meme Coins & Importance of Branding

Coinbase announced the launch of cbBTC on Solana

At the Solana Breakpoint Conference, Hassan Ahmed, director of Coinbase Singapore, a US-listed crypto exchange, said that cbBTC, a packaged Bitcoin asset, will be launched on Solana.

He said: "We recently launched cbBTC on the Coinbase Layer2 network Base public chain, but our users also like the Solana public chain, so we are very happy to announce that we will introduce cbBTC on Solana."

How do the US and Chinese currency circles evaluate Solana?

Kyle Samani, co-founder of Multicoin Capital, held a keynote discussion at the TOKEN 2049 Summit. He said that the market value of SOL will surpass Ethereum in the future, and he also gave specific reasons. He said: "The Ethereum roadmap plans to advance transactions from Layer 1 to Layer 2, and this plan is being implemented smoothly. From the current point of view, more than 90% of Ethereum transactions are executed on Layer 2, but this also makes it impossible for Ether to effectively capture transaction value."

"On-chain transactions are the most important indicator of blockchain. In the past year, Solana's on-chain transaction volume has sometimes been higher than Ethereum, and lower than Ethereum in some weeks. However, Solana is currently on par with Ethereum in terms of on-chain transaction volume."

"Solana's token expansion provides many functions required by Wall Street institutions, payment companies or any major asset issuers. Only when these functions and related construction are ready can regulated finance appear on the chain on a large scale, which is basically impossible on Ethereum."

The Chinese currency circle media "Deep Tide" (TechFlow) pointed out that SOL's Breakpoint event is the most eye-catching Side Event this year. As for Ethereum, neither the Foundation (Ethereum Foundation) nor Layer2 has a decent event to prove its existence.

The article mentioned that Solana is the Beta in this cycle, which should be the consensus of many people, and non-consensus exists. "Many friends feel that after the launch of major projects such as Pyth, Jupiter, Wormhole, and Drift, the Solana ecosystem seems to have no more Alpha projects worth looking forward to."

"In fact, this is not the case. For example, Backpack, Cube, Flashtrade, Sonic, Solayer, ComputeLabs, etc., Solana developers are pouring in, and they are creating more interesting things."

"I remember that on the right side of the technical stage, the host asked how many people were coming to Breakpoint for the first time. Almost half of the people raised their hands, and the proportion of new blood reached 50%."

"Solana, which has climbed up from the trough, has become more resilient in the community."

Ruby of Incuba Alpha mentioned that the Solana Breakpoint event was more lively than the main venue, and developers were optimistic that the Firedance update would break the Solana shutdown chain curse.

L1D partner 0xLouisT mentioned that for the comparison between SOL and ETH, there is no doubt that Solana dominated the discussion, and Breakpoint showed an impressive and strong Solana community.

He pointed out: "At the same time, Ethereum is still struggling with its identity crisis. I noticed that some Ethereum investors lack Bayesian thinking, and despite some recent data points, they are still trying to update their arguments. It is worth noting that despite the low market sentiment, most people's Ethereum holdings have hardly changed. Most of the holders I know have not significantly adjusted their Ethereum allocations. However, cracks are beginning to appear as some people begin to exchange Ethereum for SOL."