Oladotun Wilfred Akangbe, CMO of Flincap, Flincap, a platform for African OTC crypto exchanges, highlighted the remarkable growth and maturation of the cryptocurrency industry, with a particular focus on the resilience of Solana and community efforts in Africa.

He noted that the crypto industry is constantly maturing and has previously demonstrated the ability to withstand various challenges that could cause a market decline.

Despite serious challenges such as Binance's regulatory issues, the delisting of BUSD, and the resignation and conviction of Binance founder CZ, the industry remains robust.

Solana pioneers Web3 adoption in Africa

Solana Foundation has initiated various activities such as meetings, hackathons and training workshops that have effectively involved many Africans in the Solana ecosystem. These initiatives strengthen community engagement and encourage practical adoption of blockchain technology.

While various decentralized groups around the world are simultaneously promoting Solana, the Solana Allstars team in Nigeria has stood out as one of the most active Web3 adoption groups. These efforts shift user focus from mere price movements to the real-world benefit of Solana's projects, Akangbe said.

Solana SOL, the native cryptocurrency of the Solana network, dropped more than 15% to below $121 on July 1. SOL's weekly losses are around 10% and 23% over the 30-day period.

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