This Week in Solana June 23-29th 2025
As Paul Revere famously said, “the ETF’s are coming”. After the war in the middle east last week, this was a week full of a different kind of airdrop...token checkers. Multiple protocols happened this week from Defi Tuna, Fragmetric and Drift on the 30th. The biggest news this week? You will be able to actually use your crypto as collateral for a loan in the USA soon. I remember when I got my mortgage, they didn’t consider any of it as assets. Prices this week retraced and are green compared to last week.
BTC/SOL/ETH Price Movement on the Week
Sol - Up 15.4%
Eth - Up 11.11%
BTC - Up 7.92%
Total Crypto Market Cap - Up 8.26% to 3.2T
Is the first Solana ETF ready to go? “So they are good to launch it looks like. Wow.” — Bloomberg’s @EricBalchunas, after the SEC said it had no further comments on REX’s Solana Staking ETF filing. @REXShares had asked the SEC to confirm if all issues were resolved for its ’40 Act REX-Osprey™ SOL + Staking ETF. The firm has since started publicly teasing the product as “coming soon,” positioning it to become the first-ever U.S. ETF offering SOL exposure with on-chain staking rewards.
Drift (@DriftProtocol) announced their redemption for Fuel points for $DRIFT. All details including the claim page link will be revealed on June 30th (Monday).
Perena (@Perena__) is upgrading with RWA’s and Composable Currency Vaults soon. Access real-world assets, institutional funds, and time-tested stablecoin strategies—all in just a few clicks. Carefully curated vaults with varied yield and risk profiles make it easier than ever to put your capital to work and grow it faster. You can join the waitlist at https://perena.org/invest
Defi Tuna (@DeFiTuna) airdrop checker is live. No need to connect. You can paste in your address to check your allocations. Claims aren’t open yet - https://defituna.com/airdrop
Fragmetric (@fragmetric) announced their checker is up as well! The TOPU NFTs took a steep drive down in price from around 1.8 SOL to 0.6 SOL once the farmers exited. Claims aren’t open yet, but you can check your allocation - https://airdrop.fragmetric.xyz/
Byreal (@byreal_io) is doing a “reset launch” of the $FRAG token. It’s a bit confusing at first, but you can check if you are on the whitelist at http://byreal.io and read more here https://x.com/byreal_io/status/1939237782704021540
The Federal Housing Finance Agency issues an order to count digital assets in mortgage assessments. Yes, your BTC is going to finally be considered an asset. If you’ve gone through getting a mortgage and had them consider all of your crypto worthless and frustrate you, that’s changing.
Republic issues rSpaceX, a @solana token meant to mirror the “the performance of SpaceX shares in the event of a potential future IPO, acquisition, or other liquidity event.” It’s not affiliated with SpaceX but aims to offer exposure to the private company’s equity. DYOR and consider the risks. SpaceX isn’t public, but they do have plenty of private equity out there. Seems a little suspicious to me.
Helius Labs (@heliuslabs) announced that With SIMD-0075 live on Mainnet, Solana can now verify passkeys. Passkeys are a huge unlock for onboarding and UX: Wallets can now support biometric signing, passkey-enabled 2FA, and bring more robust wallet UX to Solana.
- Learn how to get started with @get_para and their SDK. Para was formerly known as Capsule.
@Mastercard has joined the @Global_Dollar ($USDG)Network, allowing institutions to mint the USDG stablecoin, while also adding support for the recently launched $FIUSD on @Solana by Fiserv—expanding stablecoin use across payments and remittance. Fiserv processes $2 trillion of annual volume and connects 2 million ATMs. They're launching FIUSD on Solana to reduce payment friction and connect 6 million merchants globally
Ledger had an announcement that got smothered a bit by them saying they will stop support for their best selling device, the Nano, which is what everyone from last cycle has. They say it can’t hold up to their new updates. The Stax has less memory than a Nano, so if you have a lot of accounts, you may need 2 Ledger devices to make up for it. You can import your seed from your old Ledger to a new Ledger. I’d highly suggest before trying it to go into the Discovery section of Ledger Live and add the Ledger Recover app. You can test if your seed phrase is correct in a safe way on the device.
On a more interesting note, @Ledger Ledger Recovery Key—a PIN-protected physical card enabling storage & recovery of your 24 words with just a few taps. No KYC, no subscription fee, just peace of mind. We all have those dang paper packets and this could be a nice back up.
- Recovery Key is built on four key security touchpoints:
- Genuine Check - Verifying both card & device are the real deal
- Secure Element & Encrypted NFC communication
- Secure Touchscreen - All actions managed via your Flex/Stax only
- PIN-protection - It’s your personal PIN, created only by you when you set it up. For even more protection, 3 failed attempts wipes the card.
The founder of DRiP, @vibhu announced he’s stepped away from (@drip_haus) a few months after selling to Jupiter (@JupiterExchange), stating “Ultimately, my heart was in a different place”. I’m still not totally sure why Jupiter wanted DRiP or their plans for it, but good on him to be able to sell if he was drifting from it. Possible his focus for now will be on @solanaspaces
Lulo (@uselulo) announced an iOS app is available now. There doesn’t seem to be a current way to link a current account, so you’d be making a new one if you are already a user.
• Send @USDC directly to your app wallet, also known as your Vault. Your app wallet address is accessible from either your Vault or Profile tab.
• Use @Coinbase Connect to on-ramp dollars, or if you already have $USDC in your account, transfer it with no fees directly into your Vault.
@defidevcorp has partnered with Kraken( @krakenfx) to launch $DFDVx, the first tokenized U.S.-listed crypto treasury stock on @solana via Kraken’s new xStocks platform. Defi Dev Corp is a $SOL-based treasury strategy and currently holding over ~621K SOL.
Dialect (@saydialect) Introduced the Universal Inbox. One API, powered by their Alerts Stack, to integrate alerts & comms from across @solana. Live today in @jup_mobile—as Jupiter Radar —& with dozens of alerts partners launching, including @MeteoraAG, @RaydiumProtocol, @uselulo, @jito_sol, @MarinadeFinance, @sanctumso, @drip_haus & @bonk_inu
Wallet Connect (@walletconnect) has announced a ton of communities in the Solana community who may get an airdrop of their token, which has been down only for weeks, but has yet to say anything about when or how to get the allocations. But, hey, they keep announcing groups. I’m honestly not sure why I’d need a token for a wallet connection service.
Firedancer has delegated stake to 32 Solana validators to kick off its new delegation program for clients running Frankendancer, which currently accounts for only 8% of all staked SOL. Firedancer said it plans to delegate 2 million SOL to around 100 validators (20k SOL per validator) in the first phase of its delegation program.
Igloo (@IglooInc) filed a $PENGU and Pudgy Penguins ETF. The @CBOE filed the CANARY PENGU ETF 19b-4. With this filing, the $PENGU and Pudgy Penguins NFTs ETF becomes only the second memecoin-style ETF, after DOGE, and first filing with NFTs to enter the @SECGov’s formal review process.
Update on Shopify (@Shopify) USDC (Stablecoins on @Base) in Checkout via Shopify Payments and Shop Pay. I’d requested it for my Shopify Plus account and was told general access is tentatively scheduled for June 26, 2025. Still no sign of it.
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