Week in Solana Aug 4-10th 2025
The verdict came in for the Roman Storm case and although he wasn’t found guilty on all charges, he is still currently facing up to 5 years in prison. This sets a dangerous precedent for our industry. The markets had some boom this week, with $ETH leading the charge. All of the treasury vehicles are forcing a supply crunch, but even with that, market makers are doing their best to suppress the price. It took a lot to break past $4k and we can see all Binance does to suppress the price of $SOL onchain with Wintermute as well. Although we saw prices rise, we mostly regained the losses of the prior week, outside of ETH that gained an additional 5%.
BTC/SOL/ETH Price Movement on the Week
Sol - Up 12.6%
Eth - Up 21.43%
BTC - Up 4.5%
Total Crypto Market Cap - Up 7.14% to 3.82T
Seeker @solanamobile started shipping on the 4th, with lots of people already complaining. They’ve apparently been shipping the phones out without updating the tracking or sending notifications to people. Sending out a $500 piece of merchandise with no tracking is just asking for so many issues and complaints from customers. The amount of people who may miss seeing it arrive or not be able to be prepared and have the phone get lost or stolen is high. It’s a really poor way to go about fulfilling orders. I have been checking my original purchase to see if it’s updated and nothing yet. I’m in the SW USA. 
Jake Chervinsky (@jchervinsky) shared his stance on the Roman Storm case. This is a critical moment for our industry - https://x.com/jchervinsky/status/1953246431701069884
Trump officially signed an executive order opening the $12.5 trillion 401(k) retirement market to crypto investments. I haven’t contacted my 401k provider that we use for our employees in my business yet, but plan to see this week if there is an ability to start allocating some of my bi-weekly contributions. I hold some BTC/ETH/SOL in an IRA, even though the firm I use still doesn’t allow it to be bought, so I self manage it not.
@solanamobile launched @Solana Mobile Validator in collaboration with @solstrategies_, allowing users to stake SOL directly from Seeker’s native Seed Vault Wallet with zero fees on staking rewards.
Marinade (@MarinadeFinance) is taking action against malicious validators who are undermining Solana’s performance and the fairness of the Stake Auction Marketplace. A new blacklist update will remove validators intentionally lagging block times for personal benefit, at the expense of the rest of the network. Public data shows over 30 validators exceeded 450ms median block time in two consecutive epochs between 780 and 824.This behavior enables MEV abuse, slows the network, and punishes honest validators. Even a 100ms delay can ripple across the chain. - TLDR - Validators are intentionally delaying block times to extract more MEV.
Liquid Staking ETF's, here we come! Great news out of the @SECGov today for crypto. I do not miss Gensler at all.
Monthly non-voted transactions on @Solana hit a new all-time high in July. True TPS also averaged 1,318, the highest ever recorded! Check the stats on Blockworks - https://blockworks.co/analytics/solana
Base (@base) stopped producing blocks on Aug 4th, but in typical double standard EVM land, it’s because they are pushing new things so hard. When it’s happened to Solana, it’s big news, but when it’s Base, it’s a sign of progress.
Interesting stats around @zora vs @solana in meme tokens over the past week via (@Lightspeedpodhq ). About 191k tokens were created on Solana, against 333k on Base (mostly Zora). Solana’s memecoin trading volume is still much larger — about $5.4b weekly (30x base's volume) vs $182m on Base.
Kamino (@KaminoFinance) published the amount of liquidations that have happened since they launched Multiply in 2023…..Zero. Season 4 has also started and in only 24 hours into Season 4, Kamino Earn Vaults have grown 84.7%, reaching $151.68M in deposits.
Phantom (@phantom) acquired @solsniperxyz, a trading terminal/Telegram bot. Phantom plans to "aggressively pursue acquisitions" going forward. Solsniper helps traders monitor tokens, track wallets, and react instantly. The Solsniper web platform will continue to operate, with more features and improvements coming in the months ahead.
Brian Armstrong (@brian_armstrong) said Coinbase (@coinabse) is starting the rollout of DEX trading in the U.S. (excluding NY). Our goal is to make Coinbase the simplest way to access onchain markets. You'll be able to trade millions of @base assets in the Coinbase app. Support for @solana is coming soon too.
Full announcement from Coinbase - https://www.coinbase.com/blog/coinbase-unlocks-millions-of-assets-with-dex-trading
Armani Ferrante (@armaniferrante) reported that total @Backpack lending supply continues to climb to ATHs today, sitting at $533M. At the same time, USD borrows and utilization grows, sitting at a bit over 87% right now as USD lending rates hit 6.36%. Looks like the system is ready to digest another wave of USD inflows.
Jupiter (@JupiterExchange) Keeps shipping as always. Lots of new product launches, new upgrades, and partnerships.
• Lend private beta launched
• Jupiter Plugin launched
• Tokenized pre-IPO stocks added
• New APIs and upgrades
• Improvements to Verify v4 process
• Studio upgrades and vanity addresses
• New Ultra integrations and partnerships • JupShield and Organic Score added to @MeteoraAG
Axiom (@AxiomExchange) Become the fastest application to reach $200M in revenue. In the first 202 days after launch: Axiom earned $200M, Photon $96.1M, Pump $87.8M.
Joe McCann’s( @joemccann) Solana-focused treasury firm Accelerate has been called off following poor performance of his hedge fund @goasymmetric, which is reportedly down nearly 80% this year. It was meant to be a $1.5 billion investment vehicle for $SOL.
Pump (@pumpdotfun) is attempting to win back community support by introducing the Glass Full Foundation. The Glass Full Foundation aims to accelerate the most organic, vibrant, and promising communities in the pump fun ecosystem. GFF will inject SIGNIFICANT liquidity into ecosystem tokens to support their most diehard cults.
SIMD 0266 Proposes the P Token program to replace the SLP Token on Solana. @jacobvcreech says it's an optimization of the currently deployed token program on Solana. It saves ~95% of the compute for token program calls, the most used program on Solana. Read the github here - https://github.com/solana-foundation/solana-improvement-documents/pull/266
If you’d like to help support DeFi the System
we created a token on Wavebreak and any fees from the pool from trading will be used to help support content.
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