Browsing:SOL

Solana blockchain network suffers another outage, SOL price dropped
3 weeks ago 1 min read

Solana blockchain network suffers another outage, SOL price dropped

There is currently an outage on the Solana blockchain network, which is the 11th in the last two years. According to the most recent updates, block advancement has stopped, and Solana’s (SOL) mainnet beta has not been operational for roughly two hours. Two well-known block explorers, Solscan and OKLink, first reported that there weren’t many new transactions on the network, which led to the discovery of the issue. The most recent transaction was recorded at 9:52 a.m. UTC. Upbit, a crypto exchange, announced that it would not be taking any more SOL or other token deposits or withdrawals, citing ongoing

Will Solana (SOL) surge above $100 or dip?
4 weeks ago 1 min read

Will Solana (SOL) surge above $100 or dip?

Solana, the high-performance blockchain that drew attention throughout 2023, experienced a day of volatility as it sought the elusive $100 mark. After a rally brought the native token (SOL) within reach, it experienced a slight decline but managed to retain the majority of its recent gains, primarily hovering above $97. Analysts note that $100 has become a critical battleground, with significant selling pressure expected at the century mark. The year 2023 proved to be exceptional for Solana, demonstrating a remarkable turnaround from its previous rollercoaster. SOL reached a record high near $125 in December, driven by factors such as network

The Solana Foundation
1 month ago 1 min read

Solana Foundation Launches Token Extensions to Boost Advanced Functionality

The Solana Foundation, a non-profit organization dedicated to decentralization on the Solana network, has launched token extensions. This innovative offering aims to provide developers, enterprises, financial institutions, and Solana-native development teams with a comprehensive set of turnkey solutions for advanced token capabilities. On January 24, Solana announced the launch of token extensions, which marked a significant milestone in the company’s commitment to promoting decentralization, adoption, and security. Anatoly Yakovenko, co-founder of Solana and CEO of Solana Labs, expressed enthusiasm for the new development. He stated that token extensions enhance Solana’s unique features, making it an ideal platform for developers. According

Solana (SOL) Whale Circles Back for More Retik Finance (RETIK) as Presale Stage 6 Sells Out
1 month ago 3 mins read

Solana (SOL) Whale Circles Back for More Retik Finance (RETIK) as Presale Stage 6 Sells Out

Kingstown, Saint Vincent and the Grenadines, January 25th, 2024 The decentralized finance (DeFi) space has seen intense innovation recently, with projects trying to make crypto more accessible for mainstream users. One such project making waves is Retik Finance (RETIK), an ambitious DeFi ecosystem that bridges decentralized and traditional finance. Retik’s presale has continued gaining momentum, fueled by demand from both crypto whales and retail investors. According to the team one prominent Solana (SOL) whale who participated in previous stages has circled back to purchase more RETIK tokens in stages 5 and 6. This repeat investment signals strong confidence in Retik’s

Solana has achieved a milestone in stablecoin transfers, surpassing an unprecedented $300 billion in one month.
1 month ago 1 min read

Solana’s stablecoin transactions reach over $300 Billion

Solana has achieved a milestone in stablecoin transactions, surpassing an unprecedented $300 billion in one month. This surge in transaction volume is the highest ever recorded on the Layer-1 blockchain, demonstrating the platform’s growing prominence in facilitating stablecoin transactions. In January, Solana experienced a significant increase in stablecoin transfers, surpassing the previous month’s figures. December saw $297 billion in stablecoin transfers, representing a significant month-over-month increase. When comparing current statistics to January of the previous year, Solana has experienced an astounding surge of over 2,550%, handling only $11.5 billion in stablecoin transfers during the same period in 2023. Paxos recently

A key Solana DeFi player announces a 1 billion JUP token airdrop to users
1 month ago 2 mins read

A key Solana DeFi player announces a 1 billion JUP token airdrop to users

Jupiter, a major player in the Solana DeFi (Decentralized Finance) space, has made a game-changing announcement. The DeFi aggregator is planning to distribute 1 billion JUP tokens in a carefully planned airdrop, signaling the start of a massive giveaway campaign. Meow, Jupiter’s visionary founder, shared this exciting news, outlining the details of the long-awaited token distribution. Jupiter’s airdrop, scheduled for January 31 at 10:00 a.m. EST, aims to enrich the Solana DeFi community by distributing 1 billion JUP tokens to deserving users. This strategic move is consistent with Jupiter’s commitment to encouraging community engagement and empowering its users. The airdrop

Bitcoin's Price Surge Leads to $100M Loss for Short Traders Amid Anticipation of U.S. ETF Approval
2 months ago 1 min read

Bitcoin’s Price Surge Leads to $100M Loss for Short Traders Amid Anticipation of U.S. ETF Approval

Bitcoin’s recent price surge, which saw it surpass $47,000 for the first time since March 2022, resulted in significant losses exceeding $100 million for traders who had taken short positions, betting against the crypto’s rise. This loss comes as the market waits for the approval of a Bitcoin Exchange-Traded Fund (ETF) in the United States. Users on exchanges such as OKX and Binance suffered significant losses. Bitcoin’s price increase coincides with significant developments in the ETF space, such as BlackRock’s filing fees with the US SEC. Filing fees are usually one of the last steps before an ETF can be

Over $150 Million Poured Into Crypto Funds In 2024
2 months ago 1 min read

Over $150 Million Poured Into Crypto Funds In 2024

According to a recent CoinShares report, the first week of 2024 witnessed a significant milestone in crypto investments, with a notable influx of $151 million into investment products in this sector. The significance of this over $150 million increase in inflows was highlighted by James Butterfill, Head of Research at CoinShares, especially in light of Grayscale’s ongoing legal battle with the US Securities and Exchange Commission (SEC). Since the case’s inception in October 2022, these inflows have totaled $2.3 billion, accounting for 4.4% of the firm’s total managed assets. Despite the lack of a spot exchange-traded fund (ETF) launch in

Solana Co-Founder Weighs in on Ethereum's Risks, Emphasizes Simplicity in Blockchain Language
2 months ago 1 min read

Solana Co-Founder Talks About Ethereum’s Risks, Emphasizes Simplicity in Blockchain Language

Anatoly Yakovenko, co-founder of Solana, recently discussed Ethereum’s challenges and shed light on Solana’s design principles. Here is a breakdown of Yakovenko’s key insights. Yakovenko expressed concern about Ethereum’s potential centralization issues. He emphasized the danger of specific parts of the network becoming overly dominant, posing a challenge to Ethereum’s decentralized goals. Yakovenko, on the other hand, emphasized an important aspect of Solana’s architecture: atomic composability. This feature allows for seamless collaboration among blockchain elements. While Yakovenko sees this as a strength, he admits that its value is dependent on recognition within the larger blockchain community. He claims that Solana’s

Any US resident making crypto transactions exceeding $10K will soon have to report them to IRS
2 months ago 1 min read

Any US resident making crypto transactions exceeding $10,000 will soon have to report them to IRS

A recent development in the crypto landscape is causing a stir among users and advocates alike. The Infrastructure Investment and Jobs Act, passed by the US Congress, introduces a reporting provision requiring individuals involved in crypto transactions exceeding $10,000 to report them to the Internal Revenue Service (IRS) within 15 days. While this move aims to enhance transparency, it brings about a series of challenges and uncertainties. The Infrastructure Investment and Jobs Act, effective January 1, 2024, mandates that anyone receiving over $10,000 in crypto transactions must report the details to the IRS within 15 days. This includes providing personal

Over $1 Billion worth of crypto liquidated as Bitcoin drops below $41,500 yesterday
2 months ago 2 mins read

Over $1 Billion worth of crypto liquidated as Bitcoin drops below $41,500 yesterday

The crypto market is experiencing increased uncertainty as the US Securities and Exchange Commission (SEC) nears a decision on spot Bitcoin Exchange-Traded Funds (ETFs). While initial expectations were positive, recent expert analyses have added a note of caution. As the market speculated on the possible outcomes, Bitcoin’s value dropped 6.5% in minutes, falling from $44,400 to $41,500. This drop saw over $1 billion worth of crypto liquidated from the market. Bloomberg’s ETF expert, Eric Balchunas, tempered the general optimism by estimating that the ETFs have a 10% chance of being approved by the January 10 deadline. His assessment is based

Solana briefly surpassed Binance's BNB in market cap during the rally
2 months ago 1 min read

Solana’s price drops after the December rally; BNB regains market position

Following an impressive December rally in which Solana’s price increased by 120%, the crypto experienced a cooling-off period in the days following Christmas. Solana briefly surpassed Binance’s BNB in market cap during the rally. During an impressive December rally, Solana’s market cap briefly surpassed that of BNB. However, Solana entered a correction phase after Christmas, retracing from its yearly high of $123 to below $100. Solana is currently trading at $108, down approximately 13% from its peak. BNB’s price has risen by 12%, allowing it to reclaim its position as the fourth-largest crypto by market cap, surpassing Solana. The volatile