Solana Layer-2 Scaler Defies Crypto Market Slump, Surges 41% This Week Amid Multiple Exchange Listings
A Solana (SOL) layer-2 scaling solution defied the wider crypto market slump and surged by more than 41% this week following a flurry of recent exchange listings.
Solayer (LAYER) is a blockchain network designed for high throughput and near-zero latency.
The network bills itself as “infinitely scalable” and is designed to handle 1 million transactions per second (TPS).
Explains the project,
“Solayer is a protocol for developers who want to enhance their decentralize application’s performance on Solana. It aims to increase the reliability of network access while reducing associated costs by up to 50x.”
Solayer’s new native token, LAYER, is trading at $1.21 at time of writing, up from $0.857 one week ago. The 216th-ranked crypto asset by market cap is also up more than 18% in the past 24 hours alone.
LAYER launched in February. That same month, the Singapore-based crypto exchange Bitget and the Seychelles-based exchange MEXC both rolled out trading services for the asset.
Earlier this month, the San Francisco-based exchange Kraken listed LAYER, and this week the Hong Kong-based HashKey Global also made the token available for traders.
Despite LAYER’s gains this week, the asset remains more than 14% down from its all-time high of $1.41, which it set shortly after launching last month, according to data from CoinGecko.
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The post Solana Layer-2 Scaler Defies Crypto Market Slump, Surges 41% This Week Amid Multiple Exchange Listings appeared first on The Daily Hodl.
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Excessive fundraising weakens VC confidence in crypto startups despite regulatory improvements
Venture capital funding for crypto startups has yet to rebound in line with recent regulatory clarity in the U.S. despite showing signs of recovery in the months following President Donald Trump’s election.
According to analysts, the excessive capital inflows during 2021 and 2022 did not result in proportional returns for investors, which has damaged confidence and reduced the VC money inflow.
Underwhelming performance
MV Global partner Tom Dunleavy said that the crypto industry raised excessive capital relative to the number of high-quality projects.
He noted that venture firms optimized for short-term token gains rather than fostering long-term businesses in an emerging sector.
Dunleavy added:
“We should be seeing the 21/22 type raises today as the industry now has a very clear long term trajectory but daily mark to market price action has destroyed sentiment.”
The average monthly VC funding for crypto startups was $3 billion in 2021 but slid almost 50% to $1.88 billion the following year. The trend has continued with 2024 only recording $801 million.
Notably, in December 2024, the amount VCs invested in crypto companies surpassed $1 billion for the first time since April of the same year.
The threshold has been consistently surpassed since then, with $1.2 billion raised in January and $1 billion last month. However, the growth remains subdued considering the improving regulatory environment in the US.
Failed projects and investor skepticism
Mickey Hardy, chairman of Arcadia, echoed Dunleavy’s assessment, highlighting that many projects funded during the peak fundraising years are no longer operational or have abruptly ceased activity.
This has led to increased caution among investors, as past failures have amplified skepticism regarding the viability of new crypto startups.
However, Hardy said he believes venture capital activity will resume once the market stabilizes, noting Bitcoin’s (BTC) strengthened position as a recognized asset.
Dunleavy also acknowledged that funding could return but with a significant lag. While regulatory improvements provide a structured environment for crypto businesses, investor sentiment remains subdued due to prior losses and a shift in risk appetite.
The post Excessive fundraising weakens VC confidence in crypto startups despite regulatory improvements appeared first on CryptoSlate.
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Stablecoin bill advances in Senate: Could it strengthen US dollar dominance?
