Solana has been on a remarkable run lately, with its value surging by 81% in the past month. During the last week alone, it saw a more than 30% increase in price, marking a comeback that’s been quite the showstopper. In contrast, Ethereum only managed to muster an 11% gain in the same timeframe. However, it’s essential to keep in mind that Solana still has some ground to cover, as
Solana has recently announced its latest achievement, the creation of an open-source reference implementation for a ChatGPT plugin that allows users to interact with the Solana network directly from OpenAI’s ChatGPT. This marks Solana’s entry into the world of artificial intelligence (AI) and aims to enhance user experience on the network. The plugin allows users to check wallet balances, transfer Solana-native tokens, and buy non-fungible tokens (NFTs), as well as
A cluster of massive Solana whale wallets has recently caught the attention of the crypto community. According to data from whale monitoring service Whale Alert, these wallets have transferred over $60 million worth of $SOL to the Nasdaq-listed cryptocurrency exchange Coinbase in a series of transactions that suggest a single entity may be behind the movement of funds. The transactions were flagged by Whale Alert, which recorded a series of
Solana, a popular blockchain network, is taking steps to improve its network reliability following a significant outage that occurred on February 25. This outage lasted close to 20 hours and was the first interruption of service to occur in 2022. However, the network has faced 11 major outages and 3 minor ones, leading to a reputation for poor network reliability. Anatoly Yakovenko, co-founder of Solana, stated that last week’s outage
Solana, the high-performance blockchain network, is back online after two attempts to restart the network. The issue occurred on February 25, 2023, causing transaction processing on the network to stop. However, after diligent work from the Solana engineers, the issue has been resolved, and the network is now fully operational. According to Solana Status, a monitoring site for the network, the fix occurred at 01:28 UTC. The engineers continued to
Solana (SOL) has seen a remarkable rebound in 2023. After experiencing a collapse of more than 80% over the course of last year, the price of SOL has more than doubled this month. According to CoinGecko, the price of SOL rose more than 58% to $23.70 in the last seven days. Not only has the price of SOL risen, but the trading volume for Solana has also seen a significant
Due to a bug in the Solana Validator client’s test release 1.14, the Remote Procedure Call (RPC) endpoints used by crypto apps and wallets to access the Solana blockchain are temporarily offline. However, block production has not been affected, unlike previous outages which caused a freeze in block production for several hours. There are private RPC services such as Triton, QuickNode, and Alchemy that are still up and running and
The effects of FTX’s collapse are being felt throughout the entire cryptocurrency sector, with companies that were allegedly saved by the exchange now being dragged under alongside their former “savior,” Sam Bankman-Fried. While centralized organizations like lending platforms and custodial exchanges have been hit particularly hard, the state of the entire blockchain ecosystem also appears to be dire given its connections to FTX and Alameda. The price of SOL has
Following the compromise of FTX, which resulted in hackers withdrawing over $400 million from the bankrupt exchange, Solana developers want to fork liquidity hub Serum. Given that FTX created Serum, many developers believe the FTX hack may have had an impact on the decentralized network. Anatoly Yakovenko, founder of Solana, stated that developers are forking the Serum code today and will resume the protocol without FTX involvement. This is required
A significant lending position on the Solana-based lending platform Solend is now underwater, but infrastructure issues are preventing it from being liquidated properly. As a result, the protocol risks incurring bad debt. The loan is part of Solend’s primary lending pool. A 50% drop in the price of Solana (SOL) in the last three days has reduced the value of the collateral used for the loan. Under normal circumstances, other
Anatoly Yakovenko, co-founder of Solana, stated that the ten partial or complete outages and lengthy block times that the blockchain experienced in 2022 are not the experience that they want to deliver. Yakovenko claims that while network outages and reliability problems plagued the network over the past year, recent updates will help the blockchain’s reliability problems. On November 5, Yakovenko spoke about the blockchain’s past and future in Lisbon, Portugal,
The Solana NFT platform Metaplex (MPLX) saw a significant drop in the value of its native token. This comes after the announcement of a second airdrop. The Metaplex Token ($MPLX) is the governance and utility token for the Metaplex Protocol, which serves as the backbone of the Solana NFT ecosystem, and has been $0.35 on average over the previous two weeks. But it is now $0.12. This project’s announcement of a