ChainCatcher news, according to The Block, Multicoin Capital co-founder and managing partner Kyle Samani stated in an interview with The Block that Multicoin Capital is actively expanding its investments in DeFi applications, particularly within the Solana ecosystem, which has outperformed Ethereum and second-layer ecosystems on key chain metrics this year. "We expect this trend to continue, as more users, capital, issuance, and activity migrate to the Solana ecosystem, Solana-based applications and protocols will be the big winners in the next cycle."Samani also pointed out that Ethereum will face ongoing challenges and may "even fall into a long-term decline," as it is under intense competition from Solana and other faster, cheaper blockchains. He added, "Unless Ethereum can enhance its competitiveness, developers, users, and capital will turn to other chains that better meet their needs."Additionally, Multicoin is optimistic about stablecoins, with Samani viewing them as "possibly one of the greatest technological and financial innovations of our lifetime." He stated, "Stablecoins have the opportunity to become giants by 2025, as everyone in the world craves dollars, and stablecoins are the most efficient way to obtain dollars. The design space is vast, and we are still in the early stages of the adoption curve."

ChainCatcher news, Multicoin Capital co-founder Kyle Samani posted on X that currently Helium, Hivemapper, and io.net have generated over $50 million in total. By 2025, the revenue from these three projects will exceed $100 million.Along with many other DePIN projects on the Solana chain, 2025 will be remembered as the breakthrough year for DePIN.

ChainCatcher news, Mike Dudas, founder of 6th Man Ventures and former founder of The Block, stated on the X platform that he recently saw the performance report of Multicoin's fund, which has achieved an 18.6 times return since the market bottomed out in 2022.In response, a user inquired how much of that return figure is realized profit/liquid status and how much is unrealized/locked status. Dudas indicated that this is a liquid fund, and only a very small portion of the assets have poor liquidity; he was also quite surprised when he saw this report.Additionally, another user asked about the fund's holdings composition. Dudas revealed that SOL is a core component, but there are also some Solana ecosystem tokens and other tokens.

ChainCatcher message, the no-wallet L1 XION announces the launch of the "Prometheus Legend" on-chain celebration, which will last for several months. The event offers an immersive experience, allowing early bird users to deeply engage in XION mainnet activities and ecological projects to earn "Karma" points, and participate in daily activities, staking, competitions, art, application releases, and on-chain community activities alongside numerous users, developers, creators, and artists. Early access is now open, with the first phase limited to invited participants.XION is the first no-wallet L1 blockchain designed specifically for consumer adoption through chain abstraction technology. By implementing account abstraction, signature abstraction, fee abstraction, interoperability, and other features at the protocol layer, XION empowers developers to create secure, intuitive, and seamless user experiences. Regardless of technical background, everyone should have equal access to true ownership. Previously, the project raised over $36 million from top investment institutions such as Multicoin, Animoca, Circle, Hashkey, Arrington Capital, and Spartan.

ChainCatcher news, according to Cointelegraph, the newly appointed crypto head of the Trump administration, David Sacks, is a staunch supporter of Solana and an investor in the crypto investment firm Multicoin Capital.In October 2021, David Sacks publicly disclosed in episode 50 of the "All-In" podcast that he purchased a large amount of Solana (SOL) at a discounted price. He stated that he did not sell his SOL after the FTX collapse and mentioned that Solana has the potential to replace Ethereum as the preferred blockchain platform.Previous news reported that Trump appointed David Sacks as the head of the crypto sector. The VC founded by David Sacks has invested in crypto projects such as dYdX and Lightning Labs.

ChainCatcher news, the asset trading platform Drift on the Solana chain has completed a $25 million Series B funding round, led by Multicoin Capital, with participation from Blockchain Capital, Primitive Ventures, and Folius Ventures.Cindy Leow, co-founder of Drift Labs, stated that her goal is to build a suite of financial service tools on top of Solana, including spot and derivatives trading as well as prediction markets, to make Drift "the Robinhood of cryptocurrency."According to RootData, Drift Protocol is an on-chain asset trading center based on Solana, offering services such as Perps and prediction markets.

ChainCatcher news, Kyle Samani, co-founder and managing partner of the cryptocurrency investment firm Multicoin Capital, tweeted that he will deliver a speech titled "Why SOL Will Flip ETH" on the main stage of the TOKEN 2049 conference (OKX Main Stage) today.

ChainCatcher news, according to CoinDesk, the internet infrastructure network Pipe Network, supported by crypto incentives, has completed a $10 million funding round led by Multicoin Capital.David Rhodus, CEO of the startup Permissionless Labs building Pipe Network, stated that in the vision, people can quickly scale CDN nodes in the most needed areas by borrowing existing computing power. Their computers will help end users access cached content, which may be difficult to deliver quickly due to distance from the hosting servers.Pipe Network will be built on the Solana network and plans to launch its testnet at the Breakpoint conference in Singapore.

ChainCatcher news, according to official sources, the Solana ecosystem edge computing open layer Gradient Network announced on the X platform that it has completed a new round of financing, with participation from Pantera Capital, Multicoin Capital, Sequoia Capital, among others. The specific financing amount and valuation data have not yet been disclosed.It is reported that the new funds will be used to promote its decentralized protocol and the development of computing power and staking solutions in the blockchain network.Gradient Network is an open layer for edge computing on Solana, aimed at making computing inclusive, accessible, and affordable for everyone.

ChianCatcher news, renewable energy company Fuse announced the completion of a $12 million strategic financing, led by Multicoin Capital, bringing the company's total funding to $90 million to date.According to the press release, the company plans to use the funds to launch Project Zero, a renewable energy DePIN project: "As a comprehensive energy company, Fuse provides distributed energy (DER) installation, electricity trading, and electricity retail. The company currently manages 18 megawatts of renewable energy projects, with another 300 megawatts of renewable energy projects in preparation. Fuse Energy, a subsidiary of Fuse, is a vertically integrated electricity retailer."

ChainCatcher news, Multicoin Capital co-founder Kyle Samani posted on X: "Since 2019-2020, we have been seriously analyzing DeFi derivatives, and we believe that Drift Protocol is the best protocol to seize this opportunity. We have led multiple rounds of private financing and have been buying in the public market since the launch of the DRIFT token in May."

ChainCatcher news, Multicoin Capital managing partner Kyle Samani recently elaborated on his views regarding the main challenges currently facing Ethereum in an interview. Samani pointed out that Ethereum faces two core issues: poor Layer 2 interoperability leading to a subpar user experience, and the outsourcing of the execution layer to Layer 2 resulting in value capture loss.He believes these two factors explain 80-90% of the reasons for ETH's recent poor performance.Samani questioned Ethereum's excessive pursuit of decentralization and the number of validators, while neglecting user needs and financial functionality. He is more optimistic about Solana's development path, believing it focuses more on building efficient financial infrastructure.Regarding the prospects of Layer 2 solutions addressing Ethereum's issues, Samani is skeptical, believing that it is difficult to reach a unified standard among various Layer 2s. Although he acknowledges Ethereum's advantages in regulatory status and talent pool, Samani believes the system design limits the realization of these advantages.

ChainCatcher news, according to official sources, the zero-knowledge proof authentication solution provider zkMe has announced the completion of a $4 million seed round investment, led by Multicoin Capital, with participation from OKX Ventures and Robot Ventures. The funds will be used to optimize the zkMe zero-knowledge identity protocol, which has been live for 13 months, and to develop the zero-knowledge identity layer infrastructure to build a more complete zkMe privacy identity layer network, expected to officially launch in Q4 2024.It is reported that zkMe is committed to providing decentralized compliance services that meet FATF standards through cryptography, offering comprehensive credential verification solutions for the Web3 industry to address the upcoming EU MiCA regulations. At the same time, zkMe also empowers users to have autonomous control over identity credentials and other rights, allowing users to maximize privacy protection and value creation through participation in verification.