Today is undoubtedly a significant day for cryptocurrencies with major announcements and partnerships being unveiled. In the past hours, both Chainlink and Solana have made important declarations. Following Trump’s statements, the cryptocurrency market has seen a mild recovery, with Bitcoin surpassing $103,000, moving away from its daily low.
Chainlink (LINK)
WisdomTree is embarking on a groundbreaking collaboration with Chainlink. As part of this initiative, NAV Data for the CRDT Tokenized Private Credit Fund will be transitioned on-chain through Chainlink technology. During the SmartCon event, it was forecasted that exciting announcements might emerge this week. Although the latest development does not currently have a significant impact on the price, it is poised to support LINK Coin in the medium and long term.
WisdomTree, a global asset management firm with over $130 billion in assets under management, is pleased to announce its adoption of Chainlink to transition corporate-level NAV data on-chain to support subscription and redemption processes of the Ethereum-based CRDT tokenized fund.
The WisdomTree Private Credit and Alternative Income Digital Fund (CRDT) provides exposure to liquid private credit and alternative income instruments, following the Gapstow Liquid Alternative Credit Index (GLACI). By transferring CRDT fund’s NAV data on-chain through Chainlink’s data standard, WisdomTree ensures transparency at a corporate level, auditability, and interoperability with the broader digital asset ecosystem through its Prime and Connect platforms.
Maredith Hannon, Head of Digital Asset Business Development at WisdomTree, shared that Chainlink’s capabilities enhance the transparency and data integrity of their tokenized funds. Today’s announcement provides insights into why Chainlink could be a major player in the trillion-dollar tokenization market in the long term.
Solana (SOL)
Solana Company, known by the code HSDT, is a reserve company holding millions of SOL Coins. By staking SOL Coins, the company earns an average of 7% revenue while boosting its assets through stock sales. Unlike Ethereum or Bitcoin treasury companies, the staking revenue here is a significant advantage, bringing the corporate-level staking narrative to the markets.
The announcement of a $100 million stock buyback was made. The primary motivation for this buyback program is the stock price nearing its 52-week low. The decision made by the board aims to collect some of the depreciated shares.
This article subtly conveys both good and concerning news, as the buyback due to the falling stock price is troubling for the future of cryptocurrency reserve companies. ETHZilla, for instance, recently announced plans to sell ETH and buy shares to enhance its NAV (value per share).
The situation is similar for the Solana reserve company. Joseph Chee, CEO of Solana Company and President of Summer Capital, stated:
“With our goal to maximize SOL accumulation per share, there might be scenarios where the highest expected return on our capital is buying our own stocks.”
It remains uncertain whether the company will sell SOL Coins. Being one of the top ten validators provides it with larger staking revenues compared to Ether reserve companies.