Solana News Today: Whales, Miners, and Mainnets: BlockDAG Surpasses Giants with Dual-Track Adoption

BlockDAG’s presale has raised $386 million as of the latest data, with 25.8 billion BDAG tokens sold across 30 funding batches, positioning the project on track to surpass its $600 million fundraising goal. This performance places it ahead of major projects like Avalanche and Aptos, both of which raised $230 million and $350 million, respectively, before their launches [1]. Notably, BlockDAG’s growth is fueled by a diverse mix of retail investors, early adopters, and institutional-grade capital, with over $10 million currently pooled by whale investors in large allocations, including two recent $4.4 million and $4.3 million purchases [1]. These whales are widely viewed as signals of long-term conviction, with some early buyers from Batch 1 earning a return of 2,900% based on the current price of $0.03 per BDAG in Batch 30 [1]. The project’s technical architecture—combining Directed Acyclic Graph (DAG) scalability with Proof-of-Work (PoW) security—has demonstrated throughput of 10 blocks per second, outpacing many live Layer 1 networks [1].

Beyond capital, BlockDAG has shown significant pre-mainnet adoption metrics. The X1 mobile miner app has attracted 3 million users globally, enabling crypto mining on smartphones with no hardware or capital required. This is complemented by 19,000 ASIC miners sold and over 200,000 token holders on-chain [1]. These figures underscore a dual-track adoption model, where the project appeals both to everyday users and more committed participants like miners. This is a rare achievement for a pre-launch project, as many struggle to prove product-market fit before their networks go live [1]. Additionally, the project’s EVM compatibility allows for seamless migration of Ethereum-based dApps, further accelerating development. With over 4,500 builders and 300+ decentralized applications already in progress, the BlockDAG ecosystem is demonstrating active utility rather than relying on speculative demand [1].

The fundraising momentum is set to be highlighted at Token 2049 Singapore, where BlockDAG will take center stage in front of 25,000 attendees and 7,000 companies [1]. The event coincides with a 2049% presale bonus for investors until October 1, offering a strong incentive for continued participation. The project’s roadmap includes ensuring liquidity, developer grants, and global marketing support, all of which are critical to long-term viability. Analysts have pointed out that the alignment between fundraising velocity and high-profile visibility is reinforcing the narrative of BlockDAG as one of the strongest presale projects of the year [1]. As the presale approaches the $600 million milestone, the focus is shifting from capital raised to the broader adoption and technical execution that will define its post-launch success.

Meanwhile, Solana (SOL) has seen strong bullish momentum, reaching a 7-month high of $211 before retreating to $209. Whale activity has played a central role in this trend, with a notable withdrawal of 20,000 SOL from Kraken and subsequent deposits into Kamino and OKX, suggesting strategic leveraging in the DeFi space [2]. Futures markets have also shown increased participation, with Futures Open Interest rising to a record $12.9 billion and a long/short ratio of 1.02, indicating that more than half of total contracts are long positions [2]. These metrics suggest that large players are positioning for further upside, with a key price target of $223 cited by analysts [2]. However, the market is not without risks. Spot Netflow data turned positive to a 3-month high of $76 million, signaling aggressive exchange deposits and potential selling pressure. If this trend persists, a correction toward $186 could occur, particularly if whales withdraw capital and profit-taking intensifies [2].

Chainlink (LINK) is also showing signs of a potential bullish reversal, with a 3.34% weekly gain despite a broader bearish market. Technical indicators highlight an inverse head and shoulders pattern on the monthly chart, with the neckline at $22 now broken. If the pattern completes, the price could target $38.5 or even $56, based on measured move projections [3]. Open Interest has grown to $1.82 billion, reflecting rising capital inflows and investor confidence. The RSI stands at 63.14, indicating continued bullish momentum without signaling overbought conditions [3]. Analysts have pointed to the recent ETF filing as a catalyst, suggesting that institutional interest could further drive the Chainlink price target higher. However, the market remains cautious, with any pullback below $22 potentially undermining the bullish setup [3].