Chief Marketing Officer Acknowledges Cryptocurrency Industry Growth
Oladotun Wilfred Akangbe, the chief marketing officer of Flincap, a leading platform for African over-the-counter (OTC) crypto exchanges, has emphasized the significant progress and maturity witnessed in the cryptocurrency sector. His focus has predominantly been on Solana's resilience and the community efforts in Africa.
Akangbe, in an interview with Cointelegraph, highlighted the steady maturation of the crypto industry, showcasing its capacity to endure various obstacles that would have previously triggered market instability.
Crypto Industry Resilience The crypto industry has demonstrated resilience despite substantial challenges such as regulatory uncertainties surrounding Binance, the delisting of BUSD, and significant events like the resignation and legal issues faced by Binance's founder, CZ. Despite these hurdles, the industry has maintained its strength.
According to Akangbe, the durability and acceptance of any technology are heavily reliant on the energy of its community. The continuous efforts of crypto projects in addressing community challenges, especially in areas like remittances and international payments, reflect positive year-on-year advancements.
"Communities surrounding various crypto projects bring us closer to widespread adoption than ever before."
Akangbe's observations come following the recent Solana Allstars Nigeria community meetups held in different parts of Nigeria. Solana, a prominent blockchain platform, stands out for the robustness of its African community amidst market fluctuations.
Solana Leading African Web3 Adoption The Solana Foundation has launched several initiatives including meetups, hackathons, and educational workshops. These activities have successfully onboarded numerous Africans into the Solana ecosystem, promoting community engagement and driving the practical implementation of blockchain technology.
Globally, decentralized groups are actively endorsing Solana, with the Solana Allstars team in Nigeria emerging as a prominent advocate of Web3 adoption. Akangbe noted that such initiatives redirect user focus from mere price fluctuations to the tangible utility of Solana's projects.
Speculations have arisen regarding the potential introduction of a Solana (SOL) exchange-traded fund (ETF) in the United States. Bloomberg analyst Eric Balchunas suggests that this ETF could materialize with a change in the administration and the leadership of the securities regulator.
Several ETF issuers have already submitted applications for a Solana ETF. On June 28, 21Shares filed an S-1 application with the United States Securities and Exchange Commission for a spot Solana (SOL) ETF, closely following ETF issuer VanEck's unexpected filing for a similar ETF.
The native cryptocurrency of the Solana network, SOL, experienced a decline of over 15% to reach a low of $121 on July 1. Its losses for the week are approximately 10%, with a 23% decrease within a 30-day period.
