Solana News: Zeta Markets Launches Testnet for Bullet Network Extension Amid Competition from Hyperliquid

In the world of cryptocurrency exchanges, competition is fierce, and Solana-based perpetual futures exchange Zeta Markets is no exception. The exchange has recently launched a testnet for Bullet, a low-latency network extension, with plans to roll out the mainnet in early Q2 of this year. However, it faces stiff competition from Hyperliquid, a new perpetuals DEX operating as a layer-1 that has processed significantly more perpetuals volume than all Solana perpetuals DEXs combined.

Solana DEX Ships Network Extension Testnet Amid Growing Competition

Solana-based perpetual futures exchange Zeta Markets has launched a testnet for Bullet, a low-latency network extension. The mainnet launch is planned for early Q2 of this year. The move comes as Solana perpetuals developers face competition from Hyperliquid, a new perpetuals DEX operating as a layer-1. Hyperliquid has processed roughly 6x as much perpetuals volume as every Solana perpetuals DEX combined last week. Solana has been lacking a reliable and performant perpetuals DEX, according to Zeta Markets co-founder Anmo.

Franklin Templeton Files for Solana ETF

Franklin Templeton, one of the world’s largest asset managers with over $1.5 trillion in assets under management, has filed for a Solana-based exchange-traded fund (ETF). The firm submitted a 19b-4 filing with the U.S. Securities and Exchange Commission (SEC) on March 12. This move positions Franklin Templeton as a major player in crypto ETFs. The filing is part of the two-step process for SEC approval of crypto ETFs. Solana’s price saw a 2.5% rise amid growing institutional interest.

TRUMP Coin Down 85% – Is a Bigger Collapse Coming?

The official meme of US President Donald Trump’s TRUMP coin is hovering precariously above $10 per token, down 85% from its post-launch peaks and eyeing a fresh price crash as the broader crypto market swoons. The widely criticized Solana meme coin, which has reportedly cost investors over $2 billion in losses per on-chain analysis, has been in a strong downtrend since topping out just ahead of the Trump inauguration in January.

35.7% of Solana Validators Support Proposal to Cut SOL Inflation by 80%

A proposal known as SIMD-228, which aims to significantly reduce SOL inflation by 80%, has gained 35.7% support from Solana validators so far. According to data from Dune Analytics, out of the 1327 active Solana (SOL) validators, 701 have voted, with 37.5% in favor, 17.2% against, and 1.2% abstaining. If approved, the proposal would drastically cut staking rewards, reducing the amount of fresh SOL tokens entering circulation. This move has raised concerns about the network’s decentralization, despite potentially lessening selling pressure. Currently, Solana’s inflation models depend on a balance between transaction fee burning and staking rewards, with more fees burnt during periods of heavy network traffic to counter inflation. However, as transaction costs have decreased, this balance may be affected.